Discussion
Just been speaking to a woman from Privilege Insurance about insuring my Griff 500 with them. Upon asking what would happen if it was ever a write off, she said I'd receive the 'agreed market value' of the car and not what I value it to be worth. So why do they ask you to value it yourself during the quotation process?
My main point in this is that I know my car is in exceptional condition and have been told so by anybody who's ever serviced or driven it, and I'm talking about some very respected people. Based on this, if I were to sell it I'd probably ask for a little more than what your average car would cost, what with aftermarket Griff values often determined more by condition rather than mileage/spec. As everyone on here always says it's the condition of the car which is important, etc etc.
It's a late 95N car, 37k and totally spotless. Well it would be if I were to sell it anyway, got a bad case of the stone chips right now but that's another story... So what is likely to be the so called agreed market value and is there any way of finding it out as the privilege woman wouldn't tell me??
Many thanks - Chris
>>> Edited by Painey on Wednesday 16th February 14:02
My main point in this is that I know my car is in exceptional condition and have been told so by anybody who's ever serviced or driven it, and I'm talking about some very respected people. Based on this, if I were to sell it I'd probably ask for a little more than what your average car would cost, what with aftermarket Griff values often determined more by condition rather than mileage/spec. As everyone on here always says it's the condition of the car which is important, etc etc.
It's a late 95N car, 37k and totally spotless. Well it would be if I were to sell it anyway, got a bad case of the stone chips right now but that's another story... So what is likely to be the so called agreed market value and is there any way of finding it out as the privilege woman wouldn't tell me??
Many thanks - Chris
>>> Edited by Painey on Wednesday 16th February 14:02
Well it's stuff like that which has me thinking. I mean, what's the point in insuring a car that you know is worth a certain amount, only for the insurance company to only pay you something like 75% of that should it get wrecked?? I've got a few expensive modifications planned eventually.
I'm aware of these agreed value policies as well. I take it these are when you get a respected person/company to value it for you and then should the worst happen then this is what you'd get back??
I'm aware of these agreed value policies as well. I take it these are when you get a respected person/company to value it for you and then should the worst happen then this is what you'd get back??
jimothy said:
I saw some insurers in Sprint mentioning Agreed Value policies. Might be worth checking those out.
Mind you, what happens if you make upgrades and tell the insurance company about them? Does the claim cost include the upgrades?
thats right, more details at www.osborneandsons.co.uk
Painey said:
Upon asking what would happen if it was ever a write off,
I would imagine she was getting a tad nervous at this point, I've always wondered why my Insurance goes up every year, when the price of my vehicle is obviously coming down.
I'm paying more now to insure a £4k Transit van, than I was 4 years ago when it was worth £10k.
Answers on a post card to "rip off insurance company's ltd"
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