Just verify if the policy is a stated value policy or not. there are 2 types: 1. You and you agent agree on the value for premium rating and pricing purposes, but you actually get what the car is worth at the time of loss, up to that amount. I.E. you can cover it for $12,000, but if they determine it's worth $10,000 at the time of loss, you get that. This is what most of the big name insurers do. 2. The prefered is a "stated value policy," where you get what you insure it for regardless of market conditions. This is typically what the specialty insurers do. Either way, just do you research and verify what actual coverage you are getting. Most people don't do this and are often surprised when they file a claim. (I am an insurance adjuster)