When your policy renews, your agreed value is updated based on a figure provided by Redbook, a company that specialises in vehicle valuations. They calculate valuations using current market conditions such as sales at auction, dealerships, manufacturers and field research. Redbook update us with new values on a regular basis.
Redbook doesn't take into consideration the condition of your vehicle. It's important you check the value shown on your policy schedule and get in touch with us if you feel that the agreed value we've offered doesn't match your vehicle.