Not necessarily. We are only required to pay you no more than the market value of the vehicle or the sum insured as shown in the policy schedule, whichever is the less, at the time of loss. However, the market value is the price your vehicle would be expected to fetch on the open market in Cayman in its current condition. Remember that most vehicles depreciate in value as they get older, with some vehicles depreciating faster than others. This depreciation is also taken into consideration.