greenlight wont insure the vxr8
Discussion
in event of a write off the insurance will give you market value for your car.
It does not matter what you say its worth except for them bumping up the premium.
Why do you think its worth over £30K?
I bought my LS3 for £25K a couple of months back and that is the figure I gave the insurers.
Great car though, don't miss my Monaro at all.
It does not matter what you say its worth except for them bumping up the premium.
Why do you think its worth over £30K?
I bought my LS3 for £25K a couple of months back and that is the figure I gave the insurers.
Great car though, don't miss my Monaro at all.
if you insure your car for the 25k special price your a fool as the market price is not what they were sld at. I have gap insurance but it states it must be insured for the actual retail value, thats what the insurance company uses not the special 23k purchase price offer. If your car got wrote off tomorrow and they give you 23k, do you think for 23k you would be able to buy a brand new replacement when already the crappy used 6.0 cars are selling for 25k
:lol:
I'm not sure how the insurance play it with heavily discounted cars.
On the one hand, you're not supposed to profit from a claim, so if they pay you £35k when you only paid £25k for the car, then you would be £10k better off.
However, if you have a VXR8, and want another VXR8, then you have to pay the going rate to replace it.
As has already been said, it doesn't matter what you say it cost, as they will pay the market rate. If the car is standard (and not a bathurst or S), then I can't see any 8 being worth more than £30k.
I'm not sure how the insurance play it with heavily discounted cars.
On the one hand, you're not supposed to profit from a claim, so if they pay you £35k when you only paid £25k for the car, then you would be £10k better off.
However, if you have a VXR8, and want another VXR8, then you have to pay the going rate to replace it.
As has already been said, it doesn't matter what you say it cost, as they will pay the market rate. If the car is standard (and not a bathurst or S), then I can't see any 8 being worth more than £30k.
stigmundfreud said:
if you insure your car for the 25k special price your a fool as the market price is not what they were sld at. I have gap insurance but it states it must be insured for the actual retail value, thats what the insurance company uses not the special 23k purchase price offer. If your car got wrote off tomorrow and they give you 23k, do you think for 23k you would be able to buy a brand new replacement when already the crappy used 6.0 cars are selling for 25k
Is that the 'actual retail value' on the used market or from new?I thought the main insurer would only ever pay out market value, the gap insurance makes up the rest. Otherwise it would be an 'agreed value' insurance policy as per classic cars.
I am pretty sure they mean retail value on the used market, otherwise they are forcing you to pay over the odds on your main insurance.
thats odd, if the car was used I could understand it, but its new and whilst heavily discounted if there were any still for sale I'd be hard pushed to buy one at the discounted price. As shown above the older ls2's are fetching 26k so what is a 3 month old ls3 worth to insurance? Yes I have GAP but that has conditions too. Insure your new ls3 for 23k and t
t it, you'll be hard pushed to get any real value from the gap as they will say the insurance payout is too small
t it, you'll be hard pushed to get any real value from the gap as they will say the insurance payout is too smallbennno said:
Most gap policies are specific they will only repay up to the initial purchase price.
I paid £22995 for a new VXR8 3 months ago, surely you didn't pay more than £30k?
Bennno
i checked and went with surf and protect, their policy said it provides cover upto the actual retail price not the discounted price. Either way just spoke to admiral and got it down to 490 which is still 130 more than Direct line but they wanted a tracker to provide theft cover.I paid £22995 for a new VXR8 3 months ago, surely you didn't pay more than £30k?
Bennno
just spoke to adrianflux, confirmed i paid 23k for it but retail was 36, they confirmed you quote for the retail not the discount value but payout will be based on what it costs to buy like for like.
however, yet again Flux are not competitive at over 1000 quid - Admiral are still 120 more than Direct line but DL want a tracker. Payind direct debit however with Admiral adds a further 200 to the policy
however, yet again Flux are not competitive at over 1000 quid - Admiral are still 120 more than Direct line but DL want a tracker. Payind direct debit however with Admiral adds a further 200 to the policy
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