Retail value is the likely selling price of the vehicle by a motor dealer to a purchaser. This is the possible value that a motor vehicle 'retails' for if you were to buy it from a dealership. The retail price is the closest value to the replacement value or cost of your insured motor vehicle.
Market value when referred to in motor insurance is the average between the likely trade and retail values of a vehicle.
The OUTbonus is only payable after a three year claim-free period and does not build up any loan value.
You can call us on +27 12 673 3000 or give us the name of a contact person in South Africa who will deal with the claim on your behalf.