Think about us.
We have a 42yo coach. I found out that the policy I had would max out at about 2500$ if it was damaged. If I broke a taillight, they might just total it out (kidding). Not kidding, a member of our group had an engine fire that was quickly extinguished. The insurer wrote the coach off and let him keep it. It still cost more than they paid for just the materials to make the repairs.
That is when I found out about "Agreed Value" coverage. This is different than "stated value" (They state the value).
This is why we now pay a lot more for insurance, but if the coach gets damaged, I have a hope of repairing or replacing it.
Matt