What is the difference between a vehicle's agreed and market value?

Market value is the reasonable cost to replace your vehicle with one of the same make, model, age and condition as your vehicle at the time it was stolen or damaged. It does not include any allowance for warranty, stamp duty, transfer costs or dealer profit.

To get an idea of what your car may be worth you can search for the make and model on the Redbook website at www.redbook.com.au.

Agreed value is the amount we agree to insure your vehicle for during each term of insurance. The value may change each time you renew the policy.

Please see our car insurance Product Disclosure Statement for full details.

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1300 Insurance's car and home and contents insurance is offered by 1300 Insurance Pty Ltd (ACN 124 845 727; AR No 327609) as an Authorised Representative of Auto & General Services Pty Ltd (ABN 61 003 617 909; AFSL 241411). Auto & General Services arranges the insurance on behalf of the insurer, Auto & General Insurance Company Limited (ABN 42 111 586 353; AFSL 285571). Because we don't know your financial needs, we can't advise if this insurance will suit you. You should consider your needs and read the Product Disclosure Statement and Financial Services Guide before making a decision to buy insurance. Not available in NT.