The insurer normally values the car under the policy terms rather than simply refunding whatever you paid for it.
Purchase price and market value are not always identical
You may have paid above or below the market because of condition, urgency or dealer pricing. Keep the purchase invoice and evidence of the car's condition.
Finance can complicate the position
If money is still owed to a finance company, the settlement may need to be paid to it first. The amount owed and the insurer's settlement are separate figures.
Challenge a valuation with evidence
If you believe the valuation is too low, comparable adverts and evidence of unusually good condition or specification may help. Follow the insurer's complaints process if needed.
Price should not be the only feature you compare when choosing insurance. Excesses and settlement terms can matter badly when a claim happens early.
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