Coastal ecosystems, such as estuaries, salt marshes, mangroves, and seagrass meadows, comprise some of the world's most productive and ecologically significant ecosystems. Currently, the predominant factor considered in valuing coastal wetlands as fish habitats is the contribution they make to offshore, adult fish stocks via ontogenetic migrations. However, the true value of coastal nurseries for fish is much more extensive, involving several additional, fundamentally important ecosystem processes. Overlooking these broader aspects when identifying and valuing habitats risks suboptimal conservation outcomes, especially given the intense competing human pressures on coastlines and the likelihood that protection will have to be focussed on specific locations rather than across broad sweeps of individual habitat types. We describe 10 key components of nursery habitat value grouped into three types: 1) Connectivity and population dynamics (includes connectivity, ontogenetic migration and seascape migration), 2) Ecological and ecophysiological factors (includes ecotone effects, ecophysiological factors, food/predation trade-offs and food webs), and 3) Resource dynamics (includes resource availability, ontogenetic diet shifts and allochthonous inputs). By accounting for ecosystem complexities and spatial and temporal variation, these additional components offer a more comprehensive account of habitat value. We explicitly identify research needs and methods to support a broader assessment of nursery habitat value. We also explain how, by better synthesising results from existing research, some of the seemingly complex aspects of this broader view can be addressed efficiently.