What does market value mean?

Market value means the value of your car just before an incident (like if your car's stolen or damaged in a fire). It's the maximum amount we'll pay when you make a claim (if you have a market value policy).

We work out the market value when you make a claim. We use things like local market prices, your car's age, its condition, and any modifications or accessories/extras.

When making any decisions about your policy, you should read the Product Disclosure Statement (PDS) on our policy booklets page.