This is how much RACV Insurance agrees to insure your vehicle for. You can choose from within a value range, and it remains fixed for the term of the policy.
At renewal RACV Insurance considers the changes in your vehicles agreed value using local market values. Check your renewal notice for any changes.
This is an assessment of your vehicle’s value at the time of an incident you’re making a claim for. It considers local market prices and the age and condition of your vehicle.
For more information on what’s included in your agreed or market value, check the Product Disclosure Statement.
You can only choose between agreed value and market value if you purchase a Comprehensive Car Insurance policy.