My vehicle is insured for an agreed value and it’s lower than the current market value. What should I do?
Queenslanders with an agreed value motor insurance policy should review the agreed amount to ensure it’s sufficient in today’s market. If your vehicle is insured with RACQ, you can update your vehicles agreed value at any time by contacting us. It is important to know if your vehicle is assessed as a Total Loss and your policy is for an agreed value the settlement of your vehicle will be the agreed value listed on your most recent Certificate of Insurance less any policy excess and less the balance of the annual premium if the policy is paid monthly.