lnsurance warning

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lightning

Well-Known Member
Posts
4,156
Location
High Peak
Just had a read of my insurance paperwork, it says that in the event of a total loss, the payout will be determined by values given in "trade guides such as CAP, Parkers etc and not adverts for similar cars, as sellers can post inflated prices"
This is worrying when you look at Parkers for instance, which reckons a condition 1 110 2005 CSW retails at £10,500 and a similar 90 CSW, £8500...and those are supposed to dealer retail prices.
Where do they get that rubbish? Good CSW 110's start at fourteen and 90's are thirteen upwards.
But the insurance is going to come in at the Parkers joke values?

If you've got a mint older Defender, l would say get an agreed value policy

Has anybody on here had trouble getting a sensible payout from the insurance? And managed to get them to value it properly?
 
I would agree that if you can get an agreed value then that is the way to go. I know from first hand experience having had an agreed value policy pay out in the past.

I'm just trying to find insurance for a defender i'm wanting to buy. Was hoping to add to add the car to my existing classic car policy but 1997 is the earliest they'll put on a classic policy. They offered me another policy which I'm going to call back about not sure if agreed value was on offer. Peter James is the insurer. For classic car policy they offer agreed value up to £15k without a valuation. Above that you need a car club valuation or similar. Worth a look if you ave a 1997 or earlier. Surely there must be an insurer that does agreed value on newer vehicles.
 
Adrian Flux will do agreed value on more modern vehicles.
They covered my 2005 CSW and also my 2002 BMW Z3 3.0 with an agreed value policy.
Although it's a bit of a faff. You have to resubmit the form with photos at every renewal, and until they process it you are only covered for "market value". My insurance started on the 10th Jan and as at today 16th they've still not done it.
 
Unfortunately Adrian Flux offered me a quote of £661.93. Peter James offered ~£350 for 3000 miles and ~£250 for 1500. Because I've been on a classic policy for several years I've got no no clams built up so it seems the only place I can get a decent quote is my existing insurer who know my history.
 
Just had a read of my insurance paperwork, it says that in the event of a total loss, the payout will be determined by values given in "trade guides such as CAP, Parkers etc and not adverts for similar cars, as sellers can post inflated prices"
This is worrying when you look at Parkers for instance, which reckons a condition 1 110 2005 CSW retails at £10,500 and a similar 90 CSW, £8500...and those are supposed to dealer retail prices.
Where do they get that rubbish? Good CSW 110's start at fourteen and 90's are thirteen upwards.
But the insurance is going to come in at the Parkers joke values?

If you've got a mint older Defender, l would say get an agreed value policy

Has anybody on here had trouble getting a sensible payout from the insurance? And managed to get them to value it properly?

Not a defender but my brother happened to have his m3 (BMW) written off they offered about £4,000 less than current market value, took a couple of months but after he told them to find one for the money they offered and they couldn't, they ended up paying the full amount,
 
It can work in your favour though. My sisters 2010 110 was valued at £20k when she looked at starting a stolen vehicle claim.
It didn't proceed as she got the vehicle back. Interesting to see how it would have panned out though.
As for going with cheapest insurance, generally you get what you pay for.
Very bitter experience, dictates that I will never go with a low cost insurer again, Aviva for me!
 
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