Just renewed my insurance

[Billy610]

I think I'm doing well, £230 fully comp for my SLK230 with all mods declared, £250 excess valued at £7k. Strange thing is, it was going to be £280 and I put my g/f on the policy, expected it to go up but it dropped by 50 quid! :bannana:

 

[Gridlock]

Yep, my mum spent 7 or 8 years as a named driver on my cars for that very reason.

Insurance is insane. I've got 4y NCB on one car but nothing on the other - how is this even logically possible if you accept that NCB does what it says on the tin? Adding other people to your policy lowers your cost even though in the real world your risk hasn't changed one iota and in fact either of you could be an alcoholic, prone to blackouts or just a middle aged mother who hasn't driven a fast car since a TR6 (!) and so would be a real danger in my car.

It's all black magic and delusion and nothing to do with real life.

Confused.com proves a lot of this - why do policies cost more with a £400 excess than with £350? I've seen this from more than one underwriter. Actuarially people with a £400 excess must have more accidents than those who choose £350 (and their accidents outweigh the difference in excess) but in the real world, WTF?

 

[JohnDeere8530]

38yr old male, 1 recordable own fault accident in '08

Brand new E350 coupe sport £42k, 6000miles, £500 excess, social only (as my 3rd car dont need anything else) £350. New car if written off in 1st yr

Bargain, was expecting and was happy to pay double that

NFU

 

[Will]

I thought the entire reason 'agreed valuations' existed was to close the loophole between the stated value by the insurance proposer, and the inevitible arguing that occurs come crunch time between the insurer and the insured.

I have had agreed valutations, which were provided by way of an additional charge, and were only verified by way of a document once the insurer/underwriter had seen evidence of the vehicle and agreed to it's valuation. They won't agree to an unrealistic valuation, hence why they require evidence (photos, receipts - sometimes an inspection in person) before accepting the valuation and the initial figure stated by the proposer isn't always agreed to.

I think Mudster must be referring to when people take out regular insurance policies, and overstate the value of their vehicle. This value volunteered is in no way agreed to or verified, and the payout after a total loss will be of market value only - which can obviously be of greater issue when dealing with specialist/classic/collectable cars. I think he is correct though when he says - on regular policies, the value stated is only used for calculation of the policy premium.

Will

 

[coshy]

£2200.......with a ridiculous excess..!!!!

 

[Noodle-Pulp]

is it so surprising no-one goes for MB insurance? or has anyone actually got a far better deal with MB than any other insurer?

 

[Sp!ke]

I thought the entire reason 'agreed valuations' existed was to close the loophole between the stated value by the insurance proposer, and the inevitible arguing that occurs come crunch time between the insurer and the insured.

I have had agreed valutations, which were provided by way of an additional charge, and were only verified by way of a document once the insurer/underwriter had seen evidence of the vehicle and agreed to it's valuation. They won't agree to an unrealistic valuation, hence why they require evidence (photos, receipts - sometimes an inspection in person) before accepting the valuation and the initial figure stated by the proposer isn't always agreed to.

I think Mudster must be referring to when people take out regular insurance policies, and overstate the value of their vehicle. This value volunteered is in no way agreed to or verified, and the payout after a total loss will be of market value only - which can obviously be of greater issue when dealing with specialist/classic/collectable cars. I think he is correct though when he says - on regular policies, the value stated is only used for calculation of the policy premium.

Will

Which is why I was surprised at the OP's "Agreed Value".

I can't see anyone agreeing that value.

Then again I wouldnt be surprised if the sole purpose of starting the thread was to slip in said "agreed value" in a Master Suite, heritage velour grill kind of way.

 

[Will]

Which is why I was surprised at the OP's "Agreed Value".

I can't see anyone agreeing that value.

Then again I wouldnt be surprised if the sole purpose of starting the thread was to slip in said "agreed value" in a Master Suite, heritage velour grill kind of way.

I agree with your thoughts.

But as the OP states that they have just taken the insurance out, perhaps they haven't yet gone through the full process of obtaining the agreed valuation certificate as yet - so may have to wait for the documents to arrive before it is guaranteed?

I'm sure TB would be able to clarify.

Will

 

[buccal]

or is he on a bargain first class return flight to Oz for £49.99 already

I'm dissapointed said car is not being shipped out for the trip

 

[Mudster]

In most cases you'll still be required to demonstrate the valuation is still current by the means I've explained.

How many of you with agreed value policies provide a new valuation and updated photographs at each renewal?

There are plenty of loopholes that these companies will use to get out of any claim. Lets be honest, no insurer in their right mind is going to value a W124 at that kind of money unless it's an E60T AMG owned by Bernie Ecclescake.

 

[The Boss]

i agree with your thoughts.

But as the op states that they have just taken the insurance out, perhaps they haven't yet gone through the full process of obtaining the agreed valuation certificate as yet - so may have to wait for the documents to arrive before it is guaranteed?

I'm sure tb would be able to clarify.

Will

renewal... Not new policy..

 

[The Boss]

or is he on a bargain first class return flight to Oz for £49.99 already

I'm dissapointed said car is not being shipped out for the trip

Flying soon.. no car now coming sadly

lol

at every renewal, i must resend 6 pics of the car, confirm the mileage at renewal, and this year i had a mechanical inspection by the AA.. not a specialist, but insurers instructed the AA to look over the car condition for their file..

Anyway, im off to sleep.. good night

 

[Gridlock]

How many of you with agreed value policies provide a new valuation and updated photographs at each renewal?

Yup, and pay £17 for the privilege.

 

[ddentrec]

£450 for both MB and Saab - with £250 excess, through Admiral's multi-car policy. Seems OK to me!

I just went to Admiral's website for a 2-car policy quote. It was £53 more than the separate policies I already have.

 

[AbbieCadabra]

i'm really struggling to get anything better than my renewal with Admiral, £432 with £350 comp & vol excess plus another £150 excess on fire/theft. legal cover, courtesy car & protected no claims.

best i can find at the moment is More Than -£377 with £600 excess or £400 with £400 excess (comp & vol, same for fire/theft), legal cover, protected but no courtesy car.

the excess seems to be set at a standard of £700 before you tweek anything, which seems a lot more than i remember from previous years?

 

[ringway]

i'm really struggling to get anything better than my renewal with Admiral, £432 with £350 comp & vol excess plus another £150 excess on fire/theft. legal cover, courtesy car & protected no claims.

best i can find at the moment is More Than -£377 with £600 excess or £400 with £400 excess (comp & vol, same for fire/theft), legal cover, protected but no courtesy car.

the excess seems to be set at a standard of £700 before you tweek anything, which seems a lot more than i remember from previous years?

I use MORE THAN for car, van, pet, house, public & employers liability insurance.

If you make a claim they are embarrassingly generous, don't quibble and if you want your car to go to a main dealer instead of one of their approved repairers (it is your right to do so as a matter of course) they don't try to make life awkward for you.

I don't think this is because I'm a good customer - I'm a good cutomer because of their fairness.

 

[The Pan Man]

Have got my agreed value doc right here and it seems fairly clear cut - they have agreed (after I sent in photos of all 4 sides, interior and engine bay) that my car is worth a minimum of £4500 and this amount (minimum) will be paid out upon bending it round a tree/finding it alight in a field.

Special car with 4 sides I would lik eto see a picture of that.

 

[AbbieCadabra]

Ringway, interesting that you've had great service with MoreThan, in the latest Which? reviews they came out near the bottom for customer satisfaction with handling claims etc!

i've just done one more comparison with the Meerkats & Admiral's sister company Elephant pop up with £342.50, same cover/excess as Admiral renewal.

so i guess i'll be on the phone later!

gawd, i really hate this process every flippin' year!

 

[Noodle-Pulp]

i've just done one more comparison with the Meerkats & Admiral's sister company Elephant pop up with £342.50, same cover/excess as Admiral renewal.

I used a couple of comparison sites when I renewed back in August and the best deals were Admiral and Elephant - I've used Admiral in the past and had the misfortune to have my car off the road for a couple of days with a car repairs company on Lee High Road, SE13 who were supposed to supply a courtesy car and they point blank refused to even consider the idea - this happened again 6 months later when some ASBO yoof punched my locks.

I vowed never to return to Admiral again and made sure this time after speaking with Elephant that the same car repairs place was not one of their approved centres.

 

[Gollom]

Just renewed Suzy Cute's insurance on her Ka! - the company she was with (Towergate who say they do NHS discounts) wanted £340'ish as she has had to add busienss use. Went to GoCompare (you may just have caught one of their adverts? ) and the lowest was with Bradford and Bingley at £138 Yes, you read that correctly. The next lowest was about £240

We checked with a fine tooth comb and all was fine so as you can imagine we paid up front there and then. We half expected a call saying there had been an error but the certificate arrived and is as expected. I'm thinking it must have been an error somewhere. Even checked the admin charges as these can sometimes be stupid but are £15 for a change so reasonable.

P.S. Ka! is fantastic is this weather!!!!!