Insurance quote & vehicle value
Insurance quote & vehicle value
When shopping around for renewal quotes, what's the right answer for vehicle value? Is it what I paid for it, even if I bought it four years ago, or is it what I deem it to be valued at now?
Re: Insurance quote & vehicle value
The value is to replace it in the event of a total loss AFAIK.
If you bought an E30 M3 fifteen years ago when they were a few grand, I'm pretty sure if you wanted to replace it today it'd cost a little more than that.
Also, if someone sideswiped you and dented the rear wing, door and front wing, the repair cost would write off a 'three grand' car - but not a car valued at £30k
If you bought an E30 M3 fifteen years ago when they were a few grand, I'm pretty sure if you wanted to replace it today it'd cost a little more than that.
Also, if someone sideswiped you and dented the rear wing, door and front wing, the repair cost would write off a 'three grand' car - but not a car valued at £30k
Re: Insurance quote & vehicle value
Are you after an agreed value type of cover?
The Evo forum really is a shadow of its former self. I remember when the internet was for the elite and now they seem to let any spastic on
IaFG Down Under Division
IaFG Down Under Division
Re: Insurance quote & vehicle value
TBH I'm not sure?
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integrale_evo
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Re: Insurance quote & vehicle value
It should be the value it is now, but in reality it'll make little to no difference to the quote and unless it's an agreed value policy they will just offer you whatever their book value says it's worth anyway, and probably nowhere near what it would actually cost to go and buy an equivalent vehicle.
Cheers, Harry
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Rich B
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S1 Lotus Elise
Re: Insurance quote & vehicle value
i got exactly what I asked for on the e46 M3 - which was a fair market value (I provided the examples of “the market”.)integrale_evo wrote: Mon Aug 20, 2018 6:50 am It should be the value it is now, but in reality it'll make little to no difference to the quote and unless it's an agreed value policy they will just offer you whatever their book value says it's worth anyway, and probably nowhere near what it would actually cost to go and buy an equivalent vehicle.
Re: Insurance quote & vehicle value
With my last accident I got offered a few hundred pounds more than the car was worth and would cost to replace, like-for-like. I bit their arm off and didn't haggle, just in case they changed their mind.
The artist formerly known as _Who_
Re: Insurance quote & vehicle value
is it for a special car that couldn’t be easily replaced with a like for like?
No just my 1 series.