Market Value is the amount that the market would pay for the car (or hire car) at the time of the incident (loss). The Market Value of the car (or hire car) includes many factors such as age, make, model, kilometres travelled and general condition of the car (or hire car).

We may use recognised industry publications to assist us in calculating the amount. Market Value includes the cost of unexpired registration and compulsory third party/motor accident injuries insurance. Market Value excludes costs of stamp duty and transfer fees, dealer warranty costs or dealer delivery.

The Amount Covered is the maximum amount we will pay for loss or damage to your car in any one incident, unless we say otherwise in your policy, and includes GST and unexpired registration and compulsory third party/motor accident injuries insurance. It also includes any accessories and modifications that are fitted to your car. Deductions may apply, such as excesses, and are set out in the PDS. The amount covered is shown on your certificate of insurance.