Question 1

What is agreed value coverage?

Accepted Answer

Agreed value means you and the insurance carrier agree on your vehicle or boat's value when the policy is written. If it's totaled, you receive the full agreed amount with no depreciation. This is the cornerstone of specialty vehicle and marine insurance.

Question 2

What's the difference between agreed value and actual cash value?

Accepted Answer

Agreed value pays the full amount you and the carrier agreed to, regardless of depreciation. Actual cash value (ACV) pays what the carrier determines the item is worth at the time of the claim, which can be significantly less — especially for classic cars that have been restored.

Question 3

Does Knox Insurance work with Hagerty?

Accepted Answer

Yes. Knox Insurance is a proud Hagerty partner agency — the nation's leading specialty vehicle insurer. We also work with Markel, Chubb, and other carriers for boat and yacht coverage.

Personal Insurance

Auto Insurance

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Classic & Specialty