I have used AXA insurance for a while now and its based on agreed value (wording used in the renewal policy). When I renew my insurance, will update whether the cost is higher as compared to previous year.

Hmmm... Noticed that the agreed value has declined from 1 year to another. So I guess the agreed value may be the market value at the time of renewal

This post has been edited by abcn1n: Sep 20 2017, 01:01 AM

Thanks

Thanks Cherroy.

For any who are interested, renewed my car insurance with lower cost. The new ruling don't seem to have caused any increase in insurance cost