Choosing between market value and agreed value depends heavily on your financial circumstances and vehicle profile. Agreed value locks in a set payout amount regardless of daily vehicle depreciation, making it ideal for brand-new or heavily financed cars where a sudden write-off could leave you with a major financial gap. Market value results in cheaper premiums because your payout tracks the fluctuating, depreciating open-market value of the car at the exact time of loss, which suits older or fully depreciated vehicles well.
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