LESTAYLOR
Active Member
- Joined
- Aug 1, 2010
- Messages
- 369
- Location
- Ilkeston in Derby
- Car
- W210 E320CDI 7 seater Estate, 2004 SL55 with F1 performance pack and a 1985 Mercedes 508D self conve
Forgive me if this post is in the wrong thread location and if it has been mentioned before
How much actual value do you put on your car? and how much is it really worth if it was written off?
I had a 1996 Lexus GS300 sport. I had it insured for £3500, as I felt that reflected a reasonable figure to replace it with a like for like model, In the event it was written off or badly damaged.
Long story short...
the car was written off and after much arguing with my insurance company, they claimed all it was worth from the other guys insurance company was £800. I did contest it and wound up with £850. this being a far cry from my estimation.
My question is: Why do insurers ask us how much the car is worth when we ask for a quote, if they already have a value range for any model. Why do they not tell us their valuation and reflect the true value in their premiums
How much actual value do you put on your car? and how much is it really worth if it was written off?
I had a 1996 Lexus GS300 sport. I had it insured for £3500, as I felt that reflected a reasonable figure to replace it with a like for like model, In the event it was written off or badly damaged.
Long story short...
the car was written off and after much arguing with my insurance company, they claimed all it was worth from the other guys insurance company was £800. I did contest it and wound up with £850. this being a far cry from my estimation.
My question is: Why do insurers ask us how much the car is worth when we ask for a quote, if they already have a value range for any model. Why do they not tell us their valuation and reflect the true value in their premiums