Agreed insurance valuation dispute. Help needed.

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horologiumwatches
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Joined: 08 Jun 2013 05:53 pm

Agreed insurance valuation dispute. Help needed.

Post by horologiumwatches » 10 Jul 2013 06:10 pm

Hi all,
I've just sent the agreed value form off for the Volvo, and have received a reply stating that the underwriters won't agree to the car being worth any more than 10% more than the purchase price. The problem that I have is that I bought the car from my Grandfather for a token gesture of £200 as he wouldn't accept any more. I have been shopping around and these cars seem to be going for between £800 and £1000 in this condition. Practical classics say £1100. So I have insured it for £1000 which I think is reasonable, as surly the figure should reflect the price you will be paying to replace the car like for like.
Any thoughts or advice would be much appreciated.
Thanks
Tommy

Ride_on
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Joined: 26 May 2009 05:34 pm
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Re: Agreed insurance valuation dispute. Help needed.

Post by Ride_on » 10 Jul 2013 06:31 pm

Sounds like its 'computer says no', it has simply interpreted what you put in the form, they don't have the resources to check all old cars value like this. You can explain the car was partly a gift, and/or use the price your Grandfather paid, present your evidence etc, otherwise goto another insurer and adjust what you are telling them (eg totally a gift).
1980 345 DL_______1987 360 GLE (project car restored to GLT spec and B230FT'd)
1984 360 GLT______1987 360 GLT
1983 360 GLS______1989 360 GLE
1985 340 GL_______1986 340 1.4
1985 360 GLS______1995 940 SE 2.3 Turbo Estate (daily)
1987 340 GL 1.7

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Chris_C
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Re: Agreed insurance valuation dispute. Help needed.

Post by Chris_C » 10 Jul 2013 10:29 pm

I'd be interested to know which company said that.

My car is agreed value, but it is a *very* specialised company based on the usage my car gets. Are you a VOC member? They can provide a written valuation for insurance purposes.
'89(F) 340 GL F7R (ex B172k) - Fake -> SBKV 300 Runner Up 08, 12 - NASLR Time 15.7secs
'03 S60 D5 SE, '91 (J) MX5
Ex:
'91(H) 340 GL B14.4E - Kar; '88(F) 360 GLT B200E - Jet -> BKV 300 Runner Up 09; '89(G) 360 GLT B200E - Beast

classicswede
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Re: Agreed insurance valuation dispute. Help needed.

Post by classicswede » 10 Jul 2013 11:50 pm

Foggy should be able to do you a valuation
Dai

Please email me directly on dai@classicswede.co.uk

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phone/text 07824887160

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MCHUDD
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Re: Agreed insurance valuation dispute. Help needed.

Post by MCHUDD » 11 Jul 2013 10:00 am

Hi all.
When the gov scrapage scheme was on, my inshurance company valued
it at £2 grand :o :o :o . Then when i changed companies latter because
of price, the new company only valued it at a grand :( :( :(
Cheers Mark.
sm69 sm69 sm69 sm69 sm69 sm69 sm69

horologiumwatches
Posts: 17
Joined: 08 Jun 2013 05:53 pm

Re: Agreed insurance valuation dispute. Help needed.

Post by horologiumwatches » 11 Jul 2013 07:15 pm

It's all sorted now. The insurance company were happy with the valuation after I explained about the circumstances. It's now got an agreed valuation of £1000. Insurance companies aren't all bad after all it would seem.

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bogbasic
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Re: Agreed insurance valuation dispute. Help needed.

Post by bogbasic » 11 Jul 2013 08:14 pm

Awesome work. It is agreed value after all and with the classic car insurers I think you can (within reason) give any value you want so long as you're in the relevant club.... never tried it for the ovlovs though cos I don't think I could ever bring myself to join a club for volvo drivers ;-0
1988 340 1.4 GL, 218k, 5 door (Grey Bess). Gone to CBA.
1991 340 1.7 GL, 64k, 5 door, petrol blue (Deep Blue).
1988 360 2.0 GLE, 140k, 5 door, ocean blue metallic (Blue Bess).
1989 340 1.7 GL, 108k, 3 door (Red Ness).
More info here!

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