My car could be a write off - will the payout be my insured value or will the third party put me back in the position I was before the incident?

I had never really thought about the insured indemnity value of my vehicle, but after a no-fault incident there is a strong possibility my car will be a write-off. As the third party is at fault will the limit of any payout be my insured value or will the third party need to put me back in the position I was before the incident?

Asked on 21 February 2020 by peter-S

Answered by Tim Kelly
Firstly, you have not insured the vehicle for an "insured value" unless you have the vehicle on an agreed market value policy. You are entitled to the market value at the point of loss.
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