What's the difference between agreed value and market value?

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.

This is different to agreed value, which is where you choose the amount to insure your car for (from a range we give you).