Agreed Value Insurance

[DoctorDee]

Insurance is always a contentious issue and tends to provoke some fairly polarised opinions......which is exactly why I raised it.

 

Agreed value...opinions please and as forthright as you like....

 

Currently have it.....wondering if it's worth keeping

[Tazzzzman1]

I had agreed value on my Cobra with Adrian Flux.

Unfortunately a man in a white Van man decided he didn't like cobra's and used his van as a road block before setting fire to the cobra....all I was left with was a box of ash's and some knackered knees.

 

Whilst I was busy recovering in Hospital, A.Flux took just 2 weeks to have agreed value in my bank account, no hassles, no worries. So for me it worked out really well.

However my solicitor made the valid point that the agreed value is the value agreed at the time of taking out the insurance, so if you make modifications or improvements to the car which may increase the value after taking out the insurance then you can claim for this separately (as long as you have receipts etc).

 

PS anyone have reciepts for an LS3, Nitrous kits etc etc

[Guest lotusPaul]

My Elan is insured with Flux too. If it got destroyed its worth 10k all day. Thats market value too according to lotus owner club. So untill i get it fully restored im happy as it is. No AGREED valuation for me. Hopfully this works for me as i dont intend to play chicken with the white vans that drive round our country like idiots.

[speedtripledan]

my stylus is on agreed value as there is no real "market value " for such a one off car as there are no other red 7 supercharged versions in existence. so to me makes a lot of sense and will cause less grief if the car is ever stolen or written off.

[DAN@ADRIAN FLUX]

Hi,

We would recommend keeping an eye on your vehicle's value if you have an agreed value policy and make sure you get it updated during the year if you feel the value has increased.

Regards,

Dan.

[Guest lotusPaul]

Dan i would love mine to rise, unfortuatly plus 2s dont seem to command the asking prices of Sprints, DHCs or just a bog standard Baby Elan. No idea why not, they are much beter cars.

[cb750]

My car's on agreed value (at no extra charge on the premium). It should stop any arguments on payout amount in the event of a total write off. Our neighbour had real problems when his Subaru limited edition was stolen. Even the ombudsman was no help.