i believe there’s 2 different types of insurance you can buy… the normal is the market price where the issued sum goes to replacing the vehicle… ie if total damage, they buy a second hand to replace ( market price).. the other is the agreed insured sum… meaning if you insured 10k, they pay 10k..

this is what i was told…( but will recheck)




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don’t forget.. at time of insuring is x… but if unlucky and accident, the market value may have dropped!..