Agreed value - your input appreciated

mercutio · Post by **mercutio** » Wed Apr 03, 2013 6:54 pm

the attitude of insurance companies is you have to have it so who cares thy are fixing prices and couldnt care less what you think where i live there is very little car crime but try insure a car and suddenly i live in a high crime area.
no wonder there are so many uninsured drivers scumbags though they are people are being driven to it (see what i did there

)

Post by **Donald** » Wed Apr 03, 2013 7:03 pm

Mick Jagger once said "you can't always get what you want". That was in the 60s and still applies 45 years or so later because we live in a society that promotes suckling at the teat of a dogshit government and blindly following whilst simultaneously introducing 'legislation' dildos to our anuses. People bang on about HSE all the time with their 'omg don't go near anything!' policy but that's our own fault for being (as a species in general) quite drokking stupid. Insurance, in general, is another annoyance, loopholes everywhere basically because we're again stupid.

I think Alex mentioned earlier about home/contents insurance... if your lawnmower gets nicked from your garage you're covered by contents, what happens in the event of your car being nicked from a garage?

I think I'm getting to a point, or maybe will expand if anyone actually cares.

Insurance is IMO only present because of 2 things:

Stupidity/incompetence
Weak crime deterrents (e.g. slap on the wrist, ASBO, community service)

Not having a go at any insurance companies in particular, fair play to them for getting what they can from a nation of sheep.

Yeah.

Dbo · Post by **Dbo** » Wed Apr 03, 2013 7:35 pm

i have an access/driveway next to my garage and the bloke who lives there is an insurance assesor as his job. so today when i had to move my car so he could get in, i asked him about this

he is a real nice bloke and straight foward in his advice

when you have a claim the insurance company that has to pay out are the ones that send out their assesor, he said the forms he has to fill out he has to do so as unbiased as possible, so his view is what they will take.

so he used my lude as an example

for the age of the car and the market value, i would say mine is fair to good condition but he on his form would tick poor to fair

(as rear arch is dented and quite a few paint dings) so Glasses book good=£900 poor=£750

so if i was to claim for minor smash and we will say new rear bumper and respray and this came to more than £750 the car would be a write off cat D

even if i had declared all modds they would still only offer below market value! if modds undeclared they would pay nothing as insurance invalid

if the car has an agreed value for which you pay a higher price that is still at their discression if they wish to honor it

he said a case he had recently the guy had fitted aftermarket alloys at a cost of £2000 and he had been hit front wing/bumper and wheel so he had declared the wheels, so one needed replacing but 4x oem wheels were still cheaper than 1x replacement of his, so they only would pay for one oem rim and said he had to live with one odd wheel (as it ran and was the same size)

as far as his company are concerned modds are your own discission and they will not pay for aftermarket only for standard factoy fitted parts, he said the best you could hope for was a write off then buy the car back from them and swap all your aftermarket parts to another car

Lovedoctor · Post by **Lovedoctor** » Wed Apr 03, 2013 8:57 pm

Dbo wrote:i have an access/driveway next to my garage and the bloke who lives there is an insurance assesor as his job. so today when i had to move my car so he could get in, i asked him about this

he is a real nice bloke and straight foward in his advice
when you have a claim the insurance company that has to pay out are the ones that send out their assesor, he said the forms he has to fill out he has to do so as unbiased as possible, so his view is what they will take.

so he used my lude as an example for the age of the car and the market value, i would say mine is fair to good condition but he on his form would tick poor to fair (as rear arch is dented and quite a few paint dings) so Glasses book good=£900 poor=£750
so if i was to claim for minor smash and we will say new rear bumper and respray and this came to more than £750 the car would be a write off cat D even if i had declared all modds they would still only offer below market value! if modds undeclared they would pay nothing as insurance invalid

if the car has an agreed value for which you pay a higher price that is still at their discression if they wish to honor it he said a case he had recently the guy had fitted aftermarket alloys at a cost of £2000 and he had been hit front wing/bumper and wheel so he had declared the wheels, so one needed replacing but 4x oem wheels were still cheaper than 1x replacement of his, so they only would pay for one oem rim and said he had to live with one odd wheel (as it ran and was the same size)

as far as his company are concerned modds are your own discission and they will not pay for aftermarket only for standard factoy fitted parts, he said the best you could hope for was a write off then buy the car back from them and swap all your aftermarket parts to another car

Think I am gonna start my own car insurance company! While they are 'regulated' it appears they can make rules to suit themselves in any given scenario. Win/win for the insurer then and 'we' the consumer (and bound by law to have car insurance) screwed over as usual!

simoncider · Post by **simoncider** » Wed Apr 03, 2013 9:19 pm

^^makes you sick!

Post by **Vtecmec** » Wed Apr 03, 2013 10:04 pm

At the end of the day, insurance is all about risk, which is a gamble, and the house always wins.........

bennyboy · Post by **bennyboy** » Wed Apr 03, 2013 10:08 pm

My original point was more about the overall condition and 'status' of the car rather than covering mods.
All I mean by status BTW is what other examples you compare it to.

I'm told, by my past insurer and the one I've just gone with, that the mods are covered 'like for like', though my reason for agreed value is not about someone turning up in the middle of the night to steal my engine, it's to cover the exact situation I've just had - numpty drives into door while I'm not even in it, I have to sweat that they aren't going to write it off for a 500 quid repair....

I don't want to go through that again, when it's bugger all to do with me.

As I said to the lass on the phone regarding any issue with my agreed value (I've asked for 5k), good luck finding any to compare it with, I'm in the owners club and I'M finding it difficult.
And I'm afraid I'm not settling for any glass's guide crap - when I had the mustang - a car which was £2k when it was new - it was insured for £15k BECAUSE THE ENTHUSIASTS WOULD VALUE IT AT THAT and as if to prove the point, that's what it eventually sold for. Glass's guide didn't cover that one funnily enough....

WE, the market, decide the value of these cars now as WE are the only people driving/maintaining/and most importantly buying and selling them!
The very fact that 3 or so people including myself would bite H10ndr's hand off if he was selling at £3k verifies that it's WORTH more than that, on then market. We don't exist in a bubble.

Dbo · Post by **Dbo** » Wed Apr 03, 2013 10:18 pm

i wish you all the luck in the world on this one m8

i can see your point on all you are saying and am behind you all the way but you are trying to take on a system that is so rigged to drokk you up the ass

that you will just end up with a sore head

but if you prevail i will kiss your feet

bennyboy · Post by **bennyboy** » Wed Apr 03, 2013 10:29 pm

Dbo wrote:i wish you all the luck in the world on this one m8
i can see your point on all you are saying and am behind you all the way but you are trying to take on a system that is so rigged to drokk you up the ass that you will just end up with a sore head

but if you prevail i will kiss your feet

Heh, I just like fair play mate that's all, and in this world I know I'm pushing my luck...

Incidentally, my vent about Glass's guide wasn't aimed at you, more any attempt by them to force that as a value, rather than one that the buyers and sellers of such cars put on it.

Dbo · Post by **Dbo** » Wed Apr 03, 2013 10:46 pm

bennyboy wrote:
Dbo wrote:i wish you all the luck in the world on this one m8
i can see your point on all you are saying and am behind you all the way but you are trying to take on a system that is so rigged to drokk you up the ass that you will just end up with a sore head

but if you prevail i will kiss your feet

Heh, I just like fair play mate that's all, and in this world I know I'm pushing my luck...

Incidentally, my vent about Glass's guide wasn't aimed at you, more any attempt by them to force that as a value, rather than one that the buyers and sellers of such cars put on it.

i never took anything you wrote about me m8

when he said to use mine as an example and said mine was under 1k he soon got told where he could shove that one

Saffy is my baby and someone would have to go £1800+ before i stopped laughing in their face