Market value of vehicles

One of the most common complaints with insurance is disagreement over the value of a vehicle at the time of a claim. Ben Rickard from BuiltIn Insurance helps you to get this right

Most commercial vehicle insurance policies cover up to the sum insured (the value shown on your policy) or the market value of the vehicle at the time of the loss, whichever is lower.

This is generally only an issue with “total loss” claims, though these are increasing as cars include more technologically complex and costly systems.

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