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Stated Amount

A stated amount is an agreed value used for claim settlement on classic cars, custom vehicles, or specialized equipment. On a total loss, the carrier pays the stated amount rather than a depreciated book value.

An agreed value used for claim purposes on classic cars, custom builds, and certain commercial vehicles. Example: a 1969 Camaro restoration with a stated amount of $85,000 pays $85,000 on a total loss, regardless of dealer book values for old Camaros.