Insurance Glossary

Insured value

Last reviewed 25 July 2026 · by the Savvy Insurance editorial team

What is insured value?

The insured value is the amount your car is covered for, usually set to retail or market value. It's the basis for a theft or write-off payout, minus your excess.

Example

On a total loss, the insurer pays out the agreed insured value of the car, less the excess.

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