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.
- How can I purchase a car insurance policy?
- Is it safe to purchase car insurance online?
- What if I have to make a car insurance claim?
- How can I save money on my car insurance?
- How long does it take to get car insurance?
- How can I pay for my car insurance online?
- What are the benefits of buying car insurance online?
- When will my policy start if I buy my car insurance online?
- How can I can adjust my level of car insurance cover and premium?
- What benefits should I seek out when choosing a car insurance policy?
- Why are my car insurance premiums different to my friends'?
- What is the difference between a vehicle's agreed and market value?
- What is the difference between comprehensive, third party fire and theft and third party property car insurance?
- What personal effects will be covered by my car insurance?
- Will I have to pay an excess if I make a claim on my car insurance?
- What is a no claim discount (NCD) and how does it affect my car insurance premiums?
- What is the difference between a No Claim discount (NCD), No Claim bonus (NCB) and Rating 1?
- What happens if I don't provide full information about my driving record, past accidents or claims when applying for my car insurance?
- I am having trouble buying my car insurance online, what should I do?
- Who is the underwriter for 1300 Insurance's car insurance?
- Will I lose my no claim discount if I have a car accident?
Thanks for your question.
We try very hard to respond to every question we get in a timely manner, but if your question is urgent you might want to call us on 1300 467 872.