[djunod]

"Stated Value" means that if something happens to the car, such as totaled or stolen, then they pay you EXACTLY what you said the value was when you bought the policy. This is what we have on my Maco, '82 'vette, '68 Camaro and what we had on my sons customized '69 VW Beetle.

"Actual Value" means that they look it up in the Kelley Blue Book (or some such) and pay you what that says. Which is often times way too low.

My son's '69 Beetle was just recently totalled out. If we would have only had actual value, then they would have paid around $500. Since we had stated value, they paid exactly what we said it was worth.