Insurance enquiry...

[Micko68]

...I recently contacted my insurance broker re: updating the current value of my van in case of having to make a claim.
The current value is what i paid for it 4 years ago, but since then i've spent quite a bit more and wanted some reassurance that i would get back a decent wedge of my invested capital.
I was told that i could up the agreed value to the figure i wanted, but would incur a higher premium, but wouldn't neccessarily be entitled to that figure if a claim arose. I would only be entitled to the current market value.
But wouldn't the current market value depend on things like a new interior, new doors etc.
I just thought i'd ask around to hear of other peoples dealings of this nature before making a decision on whether to update my policy or move to another broker.
Can anyone reccomend a decent insurer?

 

[easy]

Ring HIC dood they will give you a good deal and you can get an agreed value for a few quid extra 8)

 

[Benyon]

I've just renewed and was thinking about this. What does 'market value' actually mean? Is it just how much you could buy a similar van for? How precisely does that take into account age, conversion etc?

 

[Micko68]

Ring HIC dood they will give you a good deal and you can get an agreed value for a few quid extra 8)

Have you got a number or website etc for HIC please?
Thanks!

 

[Benyon]

https://www.hertsinsurance.com/" onclick="window.open(this.href);return false;

 

[easy]

^^^ cheers dood.

I usually put mine up for a price that i think it would cost to recreate the exact bus. Get this agreed then all your hard work is covered :mrgreen:

 

[Dave68]

I've just given them a call, as I'm after some new insurance. It took over 10 mins to get through (usual I suppose!?), but then there "customer advisor" cut me straight off! :evil: Quality Service? What would they be like if you had to make a claim? I logged into their call back system, I wonder how good that will be?

Dave'68

 

[easy]

Calling insurance companies in the middle of the day is always gonna be busy dood 8) bear with it im sure it will be okay. Myself and most of my mates are with them and have never had a problem with service....always a first time i spose, but anyway good luck

 

[Doris]

That sounds daft, if a vehicle was worth the market value then you wouldn't need an agreed value!!. That's the whole point of paying extra for a agreed valuation - the insurance company agree with you what its value is,in case of claim!!!!

:?:

 

[easy]

Basically i think market value is a rough price for what ever the product is depending on age condition type etc. This means that say it was a 70 bay in top condition you could say its market value is say £8000, but when you go for an agreed value its the price of replacement on the exact product i.e all the bits n pieces and extra work that has gone into it and your insuring all of that hard work. Think thats about right but i may have confused meself! :lol:

 

[AxlFoley]

Its worth having agreed value, if you have to make a claim otherwise you have to prove the value, usualy by finding adverts for similar vans, not easy if its modified. agreed value is well worth the effort.

 

[Doris]

I agreed with agreed value as well.markwt value is difficult enough to prove on something like a classic.

 

[Dave68]

I took easy's advice and perseverved with HIC. They rang me back and when I eventually spoke with someone, they actually knew what I was talking about and sorted out a policy and a very good rate . Knowledge is power and all that!

 

[easy]

I took easy's advice and perseverved with HIC. They rang me back and when I eventually spoke with someone, they actually knew what I was talking about and sorted out a policy and a very good rate . Knowledge is power and all that!

Glad it worked out mate

 

[Micko68]

Many thanks for the info fellas.
I'll be giving HIC a bell i reckon.