If your vehicle is declared a total loss, you will be paid based on the Pre-Accident Valuation given by the agents/dealers for the vehicle. This is the value of the vehicle as it would have been before the accident. The amount paid will NOT exceed the sum insured as this is the amount you have covered your vehicle for. It is important to make sure your valuation is updated annually when you renew your policy in order to avoid discrepancies after a claim.