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| Agreed Value Insurance with FJ http://www.international2cvfriends.com/forum/viewtopic.php?f=4&t=1567 |
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| Author: | Rumble602 [ April 8th, 2010, 9:37 pm ] |
| Post subject: | Agreed Value Insurance with FJ |
J's up for renewal with Footman James again at £135.90 - up £15 since last year. Agreed value is a shocking low £1500. I've had most of the major work done - all body work bumps and bruises are cosmetic and add character, and the shell and chassis are now sound as a pound/euro. Those of you who know my car out there, I'd be interested in what you'd consider a more appropriate value to be. Answer on forum or PM, not fussed. I guess FJ will need a letter of confirmation from a 2CVGB official or a 2CV specialist? Cheers, Rumble |
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| Author: | hjbharry [ April 8th, 2010, 10:26 pm ] |
| Post subject: | Re: Agreed Value Insurance with FJ |
Good all round car (i think) has got to be at least £3000/4000 for insurance purposes, i put mine down at £4000 (thats not agreed tho, i haven't done the paper work yet) When my last car got written off i got £1050 i was not happy, they don't understand sentimental value! |
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| Author: | Joolz [ April 8th, 2010, 11:59 pm ] |
| Post subject: | Re: Agreed Value Insurance with FJ |
I bought my car without an MOT some years ago for £300, and having fixed a couple of things and put a test on it, told FJ it was worth about £500. I guess I probably ought to reassess that now, maybe I'm hoping that if I ignore the recent price hike thing it won't have happened.  Having never paid more than £400 for a car, the idea that I might be driving one worth significantly more doesn't sit easily with me. Am I odd 
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| Author: | George [ April 9th, 2010, 1:46 am ] |
| Post subject: | Re: Agreed Value Insurance with FJ |
yea i put mine of a value of £500 as thats what i paid for the dyane  , plus we thought your insurance is cheap if its worth less
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| Author: | toomany2cvs [ April 9th, 2010, 9:08 am ] |
| Post subject: | Re: Agreed Value Insurance with FJ |
hjbharry wrote: they don't understand sentimental value! Not quite - it's more that your contract doesn't cover "sentimental value". It covers either whatever you can agree with the insurer in the aftermath of a claim to be the "market value" or a pre-agreed value. If you wanted the agreed value to reflect the sentimental attachment, you could always negotiate that with the insurer explicitly, but I don't think you'd like the premiums... |
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| Author: | Old-Nail [ April 9th, 2010, 11:13 am ] |
| Post subject: | Re: Agreed Value Insurance with FJ |
I understood that an insurers agreed value policy is basically an agreement relating to the cost of an equivalent vehicle should the insured vehicle be written off. A like for like policy if you will. Consequently you couldn't insure any sentimental value, as you can't quantify it. |
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| Author: | richardmorris [ April 9th, 2010, 11:16 am ] |
| Post subject: | Re: Agreed Value Insurance with FJ |
Ours is £3500 agreed with FJ. As it is over 20yrs old and worth less than £15K they just wanted a set of photos and your own signed valuation questionnaire. I think though if you said it was worth wildly more than expected they may want a second opinion. My X1/9 is also with FJ and as it was, at the time, not over 20yrs old we had a specialist garage sign the valuation info. Again also £3500. |
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| Author: | toomany2cvs [ April 9th, 2010, 11:20 am ] |
| Post subject: | Re: Agreed Value Insurance with FJ |
Old-Nail wrote: I understood that an insurers agreed value policy is basically an agreement relating to the cost of an equivalent vehicle should the insured vehicle be written off. A like for like policy if you will. Consequently you couldn't insure any sentimental value, as you can't quantify it. Oh, you _could_, in the same way as assorted famous people insure their legs/voice/lips/whatevers for umpty-squillion quid. That money won't replace their legs/etc, but it will compensate the loss. Same as people insuring against it raining on their wedding day. A fine example - Ellie's car. She's had it 26yrs. First car. Her dad (now dead) bought it for her. No way could it be replaced, but she could insure it for a suitable amount that the sentimental loss would be compensated. I'm sure the price of a life of retirement in a large farmhouse in rural France would suffice to take her mind off it. I dread to think what the premiums would be, though - thousands a year, probably, and almost certainly a big investigation should a claim be made. |
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| Author: | Jono [ April 9th, 2010, 2:11 pm ] |
| Post subject: | Re: Agreed Value Insurance with FJ |
Aidan, I'm just putting my red one on for £2500 I think. I might go for £3000. I guess yours and mine are of a similar standard/value. You won't need an official letter by the way - that only applies over something like £12,000 or so. |
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| Author: | Rumble602 [ April 9th, 2010, 5:03 pm ] |
| Post subject: | Re: Agreed Value Insurance with FJ |
Jono, those were the sort of figures I was thinking of. I'll phone them on Monday and find out exactly what they need. Cheers All. |
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