Stated value reflects the value of a truck as stated on the policy. For instance, if you purchased a trailer for $40,000, and insured it for that value, that would be the limit on payout should you experience an accident. Actual cash value is the actual cost to replace the equipment. With the rising cost of equipment, it may cost $75,000 to replace the same trailer based on current pricing, and you would have to pay the difference between what your policy pays and the cost of the new trailer. Learn more here.