You want Agreed/Guaranteed. One way to look at it is that Stated is you telling them my car is worth 25k and they will set a policy on it for 25k but that isn't what you'd be paid out. Agreed/guaranteed is the insurer agreeing that your car is worth 25k and agrees to pay you out that amount. My assumption is that in the case of stated, they wouldn't ask you for proof whereas I can tell you that Grundy Worldwide asked for receipts, spreadsheets and pictures before agreeing to cover my car for the price I wanted for my agreed value.