Why agreed value insurance ?

Hi Dudes, I am negotiating an agreed value with "Adran Flux" insurance as i have just started to realise/remember that for theft you just get the "Parker's" guide value ! This would be a sick joke for my bus as i spent £6K on her 18 months back.

The thing that alerted me was an aricle today in the Daily Mail about the current UK situation for car theft, aparently the cars, even with a "Tracker" like i have, are stolen and then put into "Soaking", this means they are put on a quality car car park for one week, to see if the police have cottoned on, lol, once the "soaking" is done the thieves take the car to one of many dismantleing shops, or if the car is top dollar stuff £40K+, then they are moved for a little more "soaking", to a close by ferry port, they are then placed into a large container amongst washing machines etc, and the container is then sealed, this is the bitter end, less than 10% are tracked down.

So this is not Fu..ing nice, as i most of our Supra situations IMO, our cars will be dismantled as spare parts are big bucks. It would pee me off big time if i was unfortunate and my baby got taken, even if i get the agreed value, be better for me if they stole my partner.lol. What do you lot think ? Herbie.

Where does it say that for theft it's just the Parkers guide valuation?

If you have agreed value then that negates all the need for providing examples of other cars sale value to prove the current market price. the agreed value is supposed to make sure you get what you agreed, although I've yet to meet anyone that has gone through this process and had it all happen as it should, would be good to hear from anyone on here if they have ever claimed using agreed valuation.

I've argued the value of a car in the past and got the full market value, that was without agreed valuation. I was advised by a good friend in insurance, to always remember that the insurance company has to put you back in the same financial position you were in before the accident. It's a fight to get there without agreed valuation, but it can be done

I didn't realise for theft, you only get book price. Seems unfair if you're paying extra for an agreed-value policy.

Like Burna says they will try hard to pay a low figure, but the market prices can be used to back up your claim as trade/parkers etc aren't really relevant to our cars now, wbac any one of our cars and I suspect you won't see over £1,000 for any of them!

I didn't realise for theft, you only get book price. Seems unfair if you're paying extra for an agreed-value policy.

I find that hard to believe if you have agreed valuation on the policy. I think the OP may have that wrong.

The Supras not listed on Parkers valuation as its too old, or autotraders, do any of the car value guides go that old ?

I have just decided to not go agreed value with my bike as its a classic custom, and the insurance company say they will always try and fix with std parts, but the sheer lack of them will cause big problems, so they will have to do what they can, and for complete loss there are only whats on the market and the prices are pretty high, so paying over the odds for older cars bikes seems pointless.

What happened to Rob (Lbm) and his car ?

Last i read he was sent a cheque for £4400 i think for his

http://www.mkivsupra.net/vbb/showthread.php?343895-Hello-and-goodbye

What happened to Rob (Lbm) and his car ?

 

Last i read he was sent a cheque for £4400 i think for his

 

http://www.mkivsupra.net/vbb/showthread.php?343895-Hello-and-goodbye

Don't ask, Rob and I tried to help him, but it seems he settled for their low ball offer, he didn't fight it.

That's what can happen if you don't fight for the current market value. So for people who don't like confrontation and dragging a claim out for months, then I suggest those people pay for agreed valuation with a good insurance company.

Sadly this is where the ins comp have the upper hand, they have everything to gain from playing

hard ball whilst your sat there with a pile of scrap and really don't want the hassle

Sadly this is where the ins comp have the upper hand, they have everything to gain from playing

hard ball whilst your sat there with a pile of scrap and really don't want the hassle

Exactly, that's just way it works though, people have to learn they are not your friend, even though you pay for their service, they are out to pay you the minimum they can get away with, and I've seen many people roll over and accept it. I personally love a good fight if it's justified, so revel in playing the game. But like I said, my advise to anyone that doesn't want the aggro of fighting a claim, then please take out the agreed value option.

Insurance copamines have and always will try it. Period.

Insurance copamines have and always will try it. Period.

Hence you get an agreed value that is actually written into your policy, if the worst

should happen and as long as you've not told porkies in theory you should get the agreed

value without all the grief

I've always found insurance companies totally fair. In any claim its always been dealt with quickly and I've always been left with the car fixed to the standard I required with parts I authorised. In the one instance of a total loss due to theft and non-recovery I wrote a letter to the insurer outlining why my car was excellent in every way and would require an excellent replacement to be equivalent and their assessor agreed with my well above market valuation to achieve this goal. The only caveat being I only ever go with insurance companies who have excellent customer service reviews from media and customers who then are not usually the cheapest quote on offer.

As for agreed value being waived in the event of theft, my classic car policies (unless i've missed something in the small print) just have a higher excess for theft. With AF they tend have lots of little add ons so maybe its just another premium they apply to extend the agreed value to a theft total loss scenario.

Where does it say that for theft it's just the Parkers guide valuation?

 

If you have agreed value then that negates all the need for providing examples of other cars sale value to prove the current market price. the agreed value is supposed to make sure you get what you agreed, although I've yet to meet anyone that has gone through this process and had it all happen as it should, would be good to hear from anyone on here if they have ever claimed using agreed valuation.

 

I've argued the value of a car in the past and got the full market value, that was without agreed valuation. I was advised by a good friend in insurance, to always remember that the insurance company has to put you back in the same financial position you were in before the accident. It's a fight to get there without agreed valuation, but it can be done

Hi Burna, May be i did not explain things very well, i was refering to the normal comprehensive for just being paid the "Parkers" guide book value, NOT "the agreed value", getting the agreed value is the whole point of my thread. Herbie.

Hi Burna, May be i did not explain things very well, i was refering to the normal comprehensive for just being paid the "Parkers" guide book value, NOT "the agreed value", getting the agreed value is the whole point of my thread. Herbie.

Don't ask, Rob and I tried to help him, but it seems he settled for their low ball offer, he didn't fight it.

 

That's what can happen if you don't fight for the current market value. So for people who don't like confrontation and dragging a claim out for months, then I suggest those people pay for agreed valuation with a good insurance company.

Sod accepting that, you can't even buy a NA for that now.

I agree with Dnk, I am a fighter, but don't want "my hands tied behind my back", in my experience the coppers and the insurance companies are a manopoly and never seem to be beaten. Icidently "Adrianflux" increased my premium for my current standard comprehensive insurance, £160 as i informed them about my BHP conversion from 220 to 452 BHP, i felt i had to tell them as if you are unlucky enough to cause a fatality, they void your claim and this could cost you your house. Herbie.

I'm in the same boat with my Range Rover and getting no where with several insurance companies

regarding the engine change we did.

The only place so far that sound like they understand what i'm

telling them is AF but they are expensive considering my age, clean license,

fncb, very low mileage use etc