rider Posted May 22, 2017 Share Posted May 22, 2017 Just set up an new classic car agreed value policy through Footman James and after it started (paid for 20 days beforehand) received a letter advising that they have rejected my replacement valuation and it'll revert to market value of £12,000 without a recognised third party supporting valuation. Anyone using Footman should note there will be additional costs for any independent valuation over premiums quoted. Told them to stuff it even though I could easily get a third party valuation from the trade, cancelled the policy and have gone back to the former insurer, LV. Primarily because I'm pissed they waited till after the policy start date to tell me and I regard my time as worth more than a little bit of money on premiums and lost time faffing around. Quote Link to comment Share on other sites More sharing options...
Ric Posted May 22, 2017 Share Posted May 22, 2017 (edited) They did this to me. Quick letter from a trader saying that, no actually it's worth more and they've bumped it up even further than my original valuation. It only needs to be a letter from somebody in the know, i also kicked off regarding taking the car to somebody to be valued (i work abroad and no way i could have) but they said a letter is fine. Edited May 22, 2017 by Ric (see edit history) Quote Link to comment Share on other sites More sharing options...
mplavery Posted May 22, 2017 Share Posted May 22, 2017 There a complete joke IMO I called them a few weeks back and after going through all my information, then questioning me about the value of the car they said " we have a new policy which you have to be 45 or over to be insured on this car Last time a call them Im with Sky which I have been for the past 8-9 years I think valued at 25k Quote Link to comment Share on other sites More sharing options...
Dnk Posted May 22, 2017 Share Posted May 22, 2017 I tried them once and wont be calling again, i used Admiral which was straight forward for agreed value policy, just send good photos and whats been done, same went for Adrian Flux and no argument on my valuation Quote Link to comment Share on other sites More sharing options...
rider Posted May 22, 2017 Author Share Posted May 22, 2017 The potential fairly serious financial issue here is the premiums quoted and paid for naturally rise or fall relative to the value you seek to insure. I've posed the question, in an email, asking would the 'extra' premium on the £12k difference between the insurance as set up from my valuation relative to their half price market valuation be refunded. Should their answer be no then its potentially another PPI type of scam where people pay to over insure relative to the actual insurance in effect. I can feel a letter to the insurance ombudsman welling up if they ignore my email or answer with a no. Quote Link to comment Share on other sites More sharing options...
peter richards Posted May 22, 2017 Share Posted May 22, 2017 plus it doesnt take your NCB , been with admiral for over 10 years now Quote Link to comment Share on other sites More sharing options...
Dnk Posted May 22, 2017 Share Posted May 22, 2017 I just left as they took the piss with the renewal rise and i went to AF Quote Link to comment Share on other sites More sharing options...
X13mgr Posted May 22, 2017 Share Posted May 22, 2017 Adrian flux wouldn't give me more than £16000 for my facelift tt6. Think I ll be going to sky next year. Quote Link to comment Share on other sites More sharing options...
Dnk Posted May 22, 2017 Share Posted May 22, 2017 (edited) I have my restored RRC with AF, i sent them a few more photos than required so they could see the extent of the project and i got my £30k agreed value figure without any issues Edited May 22, 2017 by Dnk (see edit history) Quote Link to comment Share on other sites More sharing options...
samdale Posted May 22, 2017 Share Posted May 22, 2017 I had exactly the same problems with FJ. Will certainly not be renewing with them. Jurgen even provided a valuation for me but wasn't accepted on the grounds that he wasn't impartial due to being the original importer of the car! They're a complete joke and completely inflexible with the valuations. I hope this thread turns up in many a Google search for them to warn others. Will also be trying sky next year. Quote Link to comment Share on other sites More sharing options...
X13mgr Posted May 22, 2017 Share Posted May 22, 2017 I just asked them. That if anything happens. Would I get a like for like replacement? They replied "yes" I'd like to see them replace it for 16g Quote Link to comment Share on other sites More sharing options...
Dnk Posted May 22, 2017 Share Posted May 22, 2017 I want the value agreed and written in the policy, like for like is nigh on impossible to do if its a total loss Quote Link to comment Share on other sites More sharing options...
X13mgr Posted May 22, 2017 Share Posted May 22, 2017 I know. I have got the 16 written on paper. Although if a total loss did happen. I'd like a replacement and not the cheque. I surpose there are plenty of ways they can get out of it though. Quote Link to comment Share on other sites More sharing options...
rider Posted May 22, 2017 Author Share Posted May 22, 2017 Ran an alternative quote on the FJ website with the only difference the vehicle value. At £24k value the premiums are £59 or 32% higher than for a £12k vehicle value. No response from FJ if they would refund the additional premium for cover value they would not honour. Their letter advising rejection makes no mention of any refund due on a lowered value. I smell a potential scam. Quote Link to comment Share on other sites More sharing options...
Ric Posted May 22, 2017 Share Posted May 22, 2017 Well fuck me. Just after i bigged them up earlier, my wife has just sent me the following: This is the letter they sent (AFTER) the independent valuation and all the hoops they've made me jump through: They agreed that my car was worth more and they wanted MONEY to agree that value (my original value was £23,000 which they disputed originally. THE VALUER said my car was worth 26k (just in costs to replace, like for like) Then today they've sent me the following: I think they will be getting a quick phone call telling them to piss off tomorrow and refund me the lot. Quote Link to comment Share on other sites More sharing options...
rider Posted May 22, 2017 Author Share Posted May 22, 2017 I think they will be getting a quick phone call telling them to piss off tomorrow and refund me the lot. They will love that, on their premium number. I talked with them a fair bit today as well - cha ching. Quote Link to comment Share on other sites More sharing options...
Ric Posted May 22, 2017 Share Posted May 22, 2017 i dont care about that bit, work pays the phone calls! Quote Link to comment Share on other sites More sharing options...
rider Posted May 22, 2017 Author Share Posted May 22, 2017 Interesting you get a letter advising increased premiums on increased value followed by a letter that doesn't mention any refund on lowered value. Its fishy, or is it a rat I smell. Quote Link to comment Share on other sites More sharing options...
X13mgr Posted May 22, 2017 Share Posted May 22, 2017 Af did that to me. Offerd me £8000. Then when i kicked off. Went upto £16000 I had to pay an extra £76. I did ask for the value at £20000 Quote Link to comment Share on other sites More sharing options...
Ric Posted May 26, 2017 Share Posted May 26, 2017 So i was on the phone to these guys earlier. Said that they were only offering me £15k market value as the rest of my "value" was down to the modifications. My reply was "you made me list every single modification on my car when i signed up, it took 20 minutes, you said these modifications would be replaced like for like if the car is written off to get me a supra which is "of equal nature" If you aren't covering the modifications it's not a like for like policy is it? nevermind the implications of going back on my contracted previously agreed value, Twice." There reply was errrr, let me speak to a manager, half hour later a phone call saying they agree my policy at the higher amount and there will be no more letters questioning the value. Just blatant trying it on IMO. For now, im happy as the agreed value is where i want it at a much lower price than the renewal from my last company. However i wouldn't enjoy claiming with them i think. Quote Link to comment Share on other sites More sharing options...
Frank Bullitt Posted May 26, 2017 Share Posted May 26, 2017 After reading about the insurance companies reluctance to insure these cars for what their owners say they are worth/market value etcetera I wonder what will happen if push comes to shove. I.e. a car is involved in an accident and the insurers are asked to pay out the amount agreed. Knowing how insurance companies at the best of times only like taking money and don’t like paying out added to the several responses members have received I have to think a claim wouldn’t be straightforward. Hopefully I am wrong but maybe these insurance companies are just thinking take the money then fight tooth and nail it if the worst happens. Quote Link to comment Share on other sites More sharing options...
blythmrk Posted May 26, 2017 Share Posted May 26, 2017 Insurance companies will try to wriggle out of pay or paying as little as they can as far as I am concerned if my value says 32k on my documents that's what they pay out if written off. I would actually take them to court if needed as they are charging more for the amount insured but will try their hardest to pay "market value". Just out of interest has anybody asked we buy any car to buy theirs recently Quote Link to comment Share on other sites More sharing options...
Sheefa Posted May 26, 2017 Share Posted May 26, 2017 Yeah all insurance companies are so bad, pure evil, evil people NFU Mutual rated top in customer surveys and by Which? magazine as Insurer of the Year and have on average only a 2% repudiation rate on claims. But of course they're still nasty people..... Shop around, read plenty of reviews, speak to people that HAVE made a claim previously and then decide. Don't just moan when your current insurer decides to change the rules, there are plenty of others out there. Quote Link to comment Share on other sites More sharing options...
Kev.O Posted May 26, 2017 Share Posted May 26, 2017 Ric, do you mind if I ask you who you contacted for the valuation as AF have provided a website but much like you I have no way of getting the car to them. Also are you able to advise on the cost the valuer charged? Thank you Quote Link to comment Share on other sites More sharing options...
fastcar Posted May 26, 2017 Share Posted May 26, 2017 Insurance companies will try to wriggle out of pay or paying as little as they can as far as I am concerned if my value says 32k on my documents that's what they pay out if written off. I would actually take them to court if needed as they are charging more for the amount insured but will try their hardest to pay "market value". Just out of interest has anybody asked we buy any car to buy theirs recently�� Yes I have and they offered £50:search: Quote Link to comment Share on other sites More sharing options...
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