Which items are least likely to be insured on an agreed value basis?

The items that are least likely to be insured on an agreed value basis are typically those that have a more fluctuating or depreciable value, such as furniture and appliances. Agreed value insurance is usually designed for items that have a stable or appreciating value, making it easier for both parties to agree on a specific amount to insure the item for at the time the policy is taken out.

Furniture and appliances generally depreciate in value over time due to normal wear and tear, technological advancements, and market changes. This depreciation makes it more challenging to establish a fair agreed value at the outset of the insurance policy. In contrast, items like antiques, artworks, luxury vehicles, and ships often have steadier or increasing values, making them more suitable for agreed value insurance, where both the insurer and insured agree on a specific value that will not fluctuate throughout the policy period. This helps protect the insured in the event of a loss by ensuring that they receive a predetermined amount that reflects the item's perceived worth at the time the agreement was made.