Your amount covered – that is, the amount you insure your car for – should generally be the amount it would cost you to replace your car with something similar after an incident covered by your policy. It is a set amount that is the maximum we’ll pay for loss or damage to your car, including the value of any accessories, modifications and GST. On a total loss, deductions may be applied to your amount covered, such as the excess and any unpaid premium instalments.

It’s important to review your amount covered when you renew your policy, as your car’s value is likely to have changed. You could try looking at car sales websites to see how much yours might go for. Doing so may help you avoid being under or overinsured. More information on amount covered can be found in the Apia Car Advantage Product Disclosure Statement.