Agreed value - your input appreciated

Post by **NafemanNathan** » Wed Apr 03, 2013 1:35 pm

h10ndr wrote:So its set at a low £2 or 2.5k I think

You definitely sold yourself short there bud. Thankfully it's only short term and you've not needed it, but had you had an unfortunate event, then you'd definitely be looking at down-grading

h10ndr · Post by **h10ndr** » Wed Apr 03, 2013 1:41 pm

I may have, but it's better than a £500 cheque from the glasses guide valuation.

p.s. You'll need at least 6 photos, engine bay, interior, front, back, both sides for the Sky valuation, and cover doesn't start until the underwriters confirm the AGV in writing.

h10ndr · Post by **h10ndr** » Wed Apr 03, 2013 1:44 pm

What's the highest price you've seen an enthusiast pay for a good 4th Gen Prelude recently? I can only remember 1 on here which was asking £3k. I think he eventually had to take a lot less.

bennyboy · Post by **bennyboy** » Wed Apr 03, 2013 1:45 pm

h10ndr wrote:What's the highest price you've seen an enthusiast pay for a good 4th Gen Prelude recently? I can only remember 1 on here which was asking £3k. I think he eventually had to take a lot less.

How much would it take me to make you part with yours, if mine got written off and I wanted yours?

bennyboy · Post by **bennyboy** » Wed Apr 03, 2013 1:49 pm

This is what I don't get about car insurance in general, it seems to work the opposite way to any other insurance.

My wife's engagement ring is insured for its value at a jewellers, not what I paid for it, as that's what I'd have to pay to REPLACE it LIKE FOR LIKE.

Same with house insurance, contents insurance, you name it. But not car insurance?

@skyinsurance
Ollie, none of this is a dig by the way!, just curious.
Also, when I had my mustang, we had a guy in the club that you could take the car to and get a 'official' valuation from, which our insurers would then agree to in the AVP. What's the criteria for someone who does this?

Post by **NafemanNathan** » Wed Apr 03, 2013 1:51 pm

bennyboy wrote:
h10ndr wrote:What's the highest price you've seen an enthusiast pay for a good 4th Gen Prelude recently? I can only remember 1 on here which was asking £3k. I think he eventually had to take a lot less.
How much would it take me to make you part with yours, if mine got written off and I wanted yours?

That's seriously what should be taken into account with this sort of thing... Not the price someone is trying to shift their car for because they're in financial trouble or leaving the country so need the money quick, knowing no-one is likely to have the amount they'd truly want for it at that moment in time

A1ex · Post by **A1ex** » Wed Apr 03, 2013 1:51 pm

bennyboy wrote:This is what I don't get about car insurance in general, it seems to work the opposite way to any other insurance.

My wife's engagement ring is insured for its value at a jewellers, not what I paid for it, as that's what I'd have to pay to REPLACE it LIKE FOR LIKE.

Same with house insurance, contents insurance, you name it. But not car insurance?

@skyinsurance
Ollie, none of this is a dig by the way!, just curious.
Also, when I had my mustang, we had a guy in the club that you could take the car to and get a 'official' valuation from, which our insurers would then agree to in the AVP. What's the criteria for someone who does this?

You beat me to it! If you have a £2000 rug in your house and it gets stolen, you get £2000 back for it. Not it's equivalent value that the thief sells it for down the market.

Why can you just take out cover for a car and the agreed value, whatever the owner wants it to be, is covered by increasing the cost of the premium?

skyinsurance · Post by **skyinsurance** » Wed Apr 03, 2013 1:53 pm

Kind of similar, most definitely comparable.

Purchase cost, restoration cost, modifications etc sees me £12k+ ( I stopped counting).

Resale value (and my car would only be sold to an enthusiast) £4k if I was lucky

The agreed value application process takes place when the policy is renewed. If there is a conflict of interests over the proposed value between you and the agreed value underwriter then we will contact you to discuss. You are very welcome to contact me at any time if you have any queries.

Thanks

Ollie

skyinsurance · Post by **skyinsurance** » Wed Apr 03, 2013 1:53 pm

bennyboy wrote:This is what I don't get about car insurance in general, it seems to work the opposite way to any other insurance.

My wife's engagement ring is insured for its value at a jewellers, not what I paid for it, as that's what I'd have to pay to REPLACE it LIKE FOR LIKE.

Same with house insurance, contents insurance, you name it. But not car insurance?

@skyinsurance
Ollie, none of this is a dig by the way!, just curious.
Also, when I had my mustang, we had a guy in the club that you could take the car to and get a 'official' valuation from, which our insurers would then agree to in the AVP. What's the criteria for someone who does this?

Car insurance isn't new for old.

Expert valuations can be used as evidence to support an agreed valuation application.

bennyboy · Post by **bennyboy** » Wed Apr 03, 2013 1:55 pm

skyinsurance wrote:
bennyboy wrote:This is what I don't get about car insurance in general, it seems to work the opposite way to any other insurance.

My wife's engagement ring is insured for its value at a jewellers, not what I paid for it, as that's what I'd have to pay to REPLACE it LIKE FOR LIKE.

Same with house insurance, contents insurance, you name it. But not car insurance?

@skyinsurance
Ollie, none of this is a dig by the way!, just curious.
Also, when I had my mustang, we had a guy in the club that you could take the car to and get a 'official' valuation from, which our insurers would then agree to in the AVP. What's the criteria for someone who does this?
Car insurance isn't new for old.

And yet modifications are, ironically? This is why I'm stumped!