Agreed value cover is a sum that an insurer agrees to insure a property for at the start of an insurance period and it will be remunerated if the property is lost or been spoiled.
If you get that your income increases extensively, you can modify your plan at any time.
Agreed value cover policy is not much different from Indemnity value cover policy. In this policy, the policy holder need t submit his income evidence at the duration of policy application in place of during the claim. Generally applicant should provide the proof of average earning of 1 year before applying. It will be pay slip or income proof.