Westpac Car Insurance offers either agreed value or market value cover.
"Agreed value" means the amount the insurer agrees to insure your vehicle up to as shown in your current schedule.
"Market value" means the cost to replace your vehicle with a vehicle of the same make, model, age and condition as your vehicle immediately prior to the loss or damage but excluding costs and charges for vehicle
registration, compulsory third party insurance, stamp duty transfer, dealer warranty costs or transfer fees.
To determine the market value, the insurer may refer to an accepted motor vehicle valuation guide used by the motor industry.
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Things you should know
Westpac Motor Insurance is issued by Allianz Australia Insurance Limited ABN 15 000 122 850 (Allianz). Westpac Banking Corporation ABN 33 007 457 141 arranges the insurance as agent of Allianz, but does not guarantee the insurance. Policy terms, conditions, limits and exclusions apply. This information does not take into account your personal circumstances. Read the to see if this insurance is right for you. Call 1800 502 077.
* Any online discounts offered are applied to the insurer’s standard rates (excluding optional covers) and are for the first year’s premium only (unless stated otherwise).
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