Market Value Car Insurance

[MrIncredible]

Compare the market have automatically estimated the value if my car ( the market value) after I put in just the registration. It doesn't take in to account the condition/mileage etc

Should I manually increase the value?

Obviously if I do my premium will be higher but if the worse was to happen and my car was written off would I still only get the "market value" ie their estimate and not what I paid for it?

The difference is approx 2k

[johnny37]

You can put in what you like. Its only an estimate which will be more accurate if it is stolen or written off. It only matters if your car is something special which makes it more valuable, in which case you should tell the insurer. If its been "pimped up" you may be charged a higher premium as the insurers think you are not a standard driver.

[tonyav]

It's usually bottom book value, MrIncredible.

[PankySmooch]

They value it at what they will pay for it not what it's worth

[ToraToraTora]

The value of your car is largely irrelevant to insurance 99% of cover is about damage you could do. You only get the market value anyway.