herbiemercman Posted December 17, 2019 Share Posted December 17, 2019 Hi Dudes, I have an agreed value with "Adrian Flux", i carried out all the information and photos etc and the value they quoted was sort of ok. However i started thinking just how much does this matter? is it really necessary and value for money? So what is the usage of your car? is it ever left in a theft potential area? what sort of mileage are you doing, my car is 1,000 miles PA, if you are unlucky enough to have a complete right off accident and you survive, then what is money if you are more or less ok? I am thinking we are being ripped off, also friends of mine in the insurance business tell me that they have experts who will find a reason to not pay out at all, or just give a percentage pay out. Are there any members out there who have benefited from an agreed value pay out, without the wheeling and dealing etc. ? Herbie. Quote Link to comment Share on other sites More sharing options...
Frank Bullitt Posted December 17, 2019 Share Posted December 17, 2019 In my opinion yes. I have an agreed value and wouldn't be without it. Read lbm's thread (http://www.mkivsupra.net/vbb/showthread.php?343895-Hello-and-goodbye) to see what can happen to your Supra if you don't have an agreed value. Quote Link to comment Share on other sites More sharing options...
Noz Posted December 17, 2019 Share Posted December 17, 2019 Always go agreed value. Just go elsewhere. I spoke to over ten companies. Some wouldn't even insure it due to the power. 30k agreed. 5k miles per year. Speak to at least ten companies.. Quote Link to comment Share on other sites More sharing options...
herbiemercman Posted December 17, 2019 Author Share Posted December 17, 2019 Many thanks to Frank and Noz, I just read the link and it tells you , YOU MUST HAVE AN "AGREED VALUE", i have one but it is worth more now i have read the 2017 thread which Frank posted. In the UK we currently have 25% who are not insured drivers, and we have 99% of insurance companies who do not want to pay out. The message from Frank's posting thread attachment is you need an agreed value, and you need to fight for your legal rights. My thread was about, "Do we need an agreed value", and it seems we do. Herbie. Quote Link to comment Share on other sites More sharing options...
trevorc Posted December 17, 2019 Share Posted December 17, 2019 When I last bothered trying I seemed to just get told by companies that they did market value. Who is actually offering agreed value and has anyone had a successful payout when the worst actually happens? Quote Link to comment Share on other sites More sharing options...
Sheefa Posted December 17, 2019 Share Posted December 17, 2019 Adrian Flux and agreed value here at £35k with 3k miles per annum. Being in the insurance game myself I have ways to make them pay the full sun of something horrendous did happen. Quote Link to comment Share on other sites More sharing options...
Scooter Posted December 17, 2019 Share Posted December 17, 2019 Now market value has gone up so much I don't see the point? There was a time early on in the recent price rises where they maybe could wriggle, but what are the minimum payouts they can get away with now given the prices on every car selling site? Quote Link to comment Share on other sites More sharing options...
Johnm400 Posted December 17, 2019 Share Posted December 17, 2019 Its only about 20 quid for 2 years with my insurance so worth having IMO. Quote Link to comment Share on other sites More sharing options...
Noz Posted December 17, 2019 Share Posted December 17, 2019 Now market value has gone up so much I don't see the point? There was a time early on in the recent price rises where they maybe could wriggle, but what are the minimum payouts they can get away with now given the prices on every car selling site? Think it depends what car you own. Anyone owning a UK TT6 it might be easy and not worth it. Market matching their expectations. For some of us originally NA. Bit more of a justification on our hands. Espcially for us who ask and got £30k or over. Lot of cash for a GE engine without a 6 speed box attached. Quote Link to comment Share on other sites More sharing options...
markssupra Posted December 18, 2019 Share Posted December 18, 2019 Sky insurance (Marker Study), agreed value £35k, 3000 miles per year. If written off payout is agreed value, crash repair is 65% of agreed value. IMO I wouldn't not have it Quote Link to comment Share on other sites More sharing options...
Dnk Posted December 18, 2019 Share Posted December 18, 2019 The difference is if you have it in Black and White that your car is insured for X amount then that in theory is what you should get. If its insured for market value then i'd imagine you'll have to do some leg work showing cars that have sold recently for the figure your looking for which might not be that easy to do. Quote Link to comment Share on other sites More sharing options...
Scooter Posted December 18, 2019 Share Posted December 18, 2019 yeah sounds fair on something non stock and semi irreplaceable.............just thinking these days on our run of the mill stock/semi stockers we shouldn't get overly shafted like perhaps LBM did? Quote Link to comment Share on other sites More sharing options...
Frank Bullitt Posted December 18, 2019 Share Posted December 18, 2019 These cars started increasing in value around '15-'16. I think Rob was very unfortunate as his was written off by the insurance in '17 which would have been around the time the insurance companies started bulking at the inflation that was going on. It's a shame we didn't ever get a conclusion to his nightmare but I understand why he walked away. The whole scenario must have left a very bitter taste in his mouth especially when it wasn't anything to do with him. To me that just reiterates the importance of agreed value as you can't predict other people actions, especially when they are paralytic! Quote Link to comment Share on other sites More sharing options...
Scooter Posted December 18, 2019 Share Posted December 18, 2019 It would have been interesting what they would have allowed as an agree value for him at the start of his policy back then, as like you say it was pre the big uplift and it was a high mileage car and I don't think you can go 'that' much over the market of the time? I think insurers will try their best to hammer you down (Sheefa mentioned he had inside knowledge to make sure they don't mess him around - thereby confirming it does indeed go on even with agreed value), and some/lots/most of people capitulate at some point? so you need to dig in and be patient and persistent to get the best deal. Quote Link to comment Share on other sites More sharing options...
Dnk Posted December 18, 2019 Share Posted December 18, 2019 It would have been interesting what they would have allowed as an agree value for him at the start of his policy back then, as like you say it was pre the big uplift and it was a high mileage car and I don't think you can go 'that' much over the market of the time? I think insurers will try their best to hammer you down (Sheefa mentioned he had inside knowledge to make sure they don't mess him around - thereby confirming it does indeed go on even with agreed value), and some/lots/most of people capitulate at some point? so you need to dig in and be patient and persistent to get the best deal. My UK auto tt with 135,000 miles in 2012 had £10k agreed value with LWIB Quote Link to comment Share on other sites More sharing options...
trevorc Posted December 18, 2019 Share Posted December 18, 2019 I've spent £10k restoring my UK supra this year at 185k it is now other than the number as close to dealer showroom as it can get to. Would hate to thing how much it would cost to buy another car and put it into same level of condition. Quote Link to comment Share on other sites More sharing options...
Noz Posted December 19, 2019 Share Posted December 19, 2019 Espcially being stock that looks real mint! Quote Link to comment Share on other sites More sharing options...
Mo Reviews Posted December 19, 2019 Share Posted December 19, 2019 Saw it in the flesh, worth every penny. Quote Link to comment Share on other sites More sharing options...
Tyson Posted December 20, 2019 Share Posted December 20, 2019 The most useful tool I found when fighting for my agreed value was adverts of similar cars on sale at the time. Quote Link to comment Share on other sites More sharing options...
Mo Reviews Posted December 20, 2019 Share Posted December 20, 2019 The most useful tool I found when fighting for my agreed value was adverts of similar cars on sale at the time. So what happens when no one wants to sell? Quote Link to comment Share on other sites More sharing options...
Tyson Posted December 20, 2019 Share Posted December 20, 2019 So what happens when no one wants to sell? You will need to find some other way of evidencing replacement costs. Probably will require an independent valuer if you are wanting to insure for top money. Quote Link to comment Share on other sites More sharing options...
Mo Reviews Posted December 20, 2019 Share Posted December 20, 2019 You will need to find some other way of evidencing replacement costs. Probably will require an independent valuer if you are wanting to insure for top money. Right. Do we have any preferred independent valuers on the forum? Quote Link to comment Share on other sites More sharing options...
Scooter Posted December 21, 2019 Share Posted December 21, 2019 The most useful tool I found when fighting for my agreed value was adverts of similar cars on sale at the time. Which makes you wonder what they think market value is if it's not this less some haggling down!? Quote Link to comment Share on other sites More sharing options...
Dnk Posted December 21, 2019 Share Posted December 21, 2019 The most useful tool I found when fighting for my agreed value was adverts of similar cars on sale at the time. I doubled the agreed value insurance with AF on my classic RR by doing this Quote Link to comment Share on other sites More sharing options...
Dnk Posted December 21, 2019 Share Posted December 21, 2019 (edited) Which makes you wonder what they think market value is if it's not this less some haggling down!? If they can save some money by playing hard ball with you then i think they will, that's why i go for agreed value written in the policy then in theory there shouldn't be any argument and getting paid out should be as easy as it can be Edited December 21, 2019 by Dnk (see edit history) Quote Link to comment Share on other sites More sharing options...
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