agreed value insurance
noun[U]
INSURANCEukusinsurancefor anamountagreedto by aninsurancecompanyat thestartof aninsuranceperiod,ratherthan at thetimethepropertyislostordestroyed:
Agreedvalueinsuranceguaranteesyou will get all ofyourmoneyback in theeventoftotallosstoyourclassiccar.