Insurance Glossary

Market value

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

What is market value?

Market value is the estimated amount your car would sell for at the time of a claim, taking depreciation, mileage and condition into account. Many insurers pay out at market value if your car is written off.

Example

A three-year-old car insured at market value is paid out at its current resale value, not what you originally paid.

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