Page 1 of 1

Agreed insurance valuation dispute. Help needed.

Posted: 10 Jul 2013 06:10 pm
by horologiumwatches
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

Re: Agreed insurance valuation dispute. Help needed.

Posted: 10 Jul 2013 06:31 pm
by Ride_on
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).

Re: Agreed insurance valuation dispute. Help needed.

Posted: 10 Jul 2013 10:29 pm
by Chris_C
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.

Re: Agreed insurance valuation dispute. Help needed.

Posted: 10 Jul 2013 11:50 pm
by classicswede
Foggy should be able to do you a valuation

Re: Agreed insurance valuation dispute. Help needed.

Posted: 11 Jul 2013 10:00 am
by MCHUDD
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

Re: Agreed insurance valuation dispute. Help needed.

Posted: 11 Jul 2013 07:15 pm
by horologiumwatches
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.

Re: Agreed insurance valuation dispute. Help needed.

Posted: 11 Jul 2013 08:14 pm
by bogbasic
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