With Market Value, the amount paid out may be less than what is shown on the schedule. That’s because the amount on the schedule represents a maximum payout, and what you will get is dependent on the actual value of the boat at the time of the loss, though all monetary limits may be increased for GST in some circumstances. With Agreed Value, the amount paid out will be based on what you agree with Club Marine – but you may need to provide evidence to confirm what you are proposing is reasonable, for example, a valuation or evidence of the purchase price. To find out more, read our Product Disclosure Statement.