1 Answer - Sort by: Date | Rating
This is because car insurance companies normally only pay out on the current market value of a vehicle in the event of a claim. The estimated market value is therefore not what you paid for it six months or a year ago. Low second hand car values and depreciation notwithstanding, what you paid and what you get as a claim settlement may be quite far apart.
The exception to this rule is for vehicles where an agreed value has been fixed at the start of the policy term. Generally, agreed values will only be negotiated for classic cars, historic or specialist vehicles.
If you're not sure about the current market value of your vehicle, check the classifieds and garage sales adverts in your local newspaper or buy a copy of the many car valuation guides now on sale in newsagents. However, it will be just as quick doing a search online or visiting a site like jamjar.com to find comparison prices.
The exception to this rule is for vehicles where an agreed value has been fixed at the start of the policy term. Generally, agreed values will only be negotiated for classic cars, historic or specialist vehicles.
If you're not sure about the current market value of your vehicle, check the classifieds and garage sales adverts in your local newspaper or buy a copy of the many car valuation guides now on sale in newsagents. However, it will be just as quick doing a search online or visiting a site like jamjar.com to find comparison prices.
1
0
- How Will My Third Speeding Ticket Affect My Car Insurance?
- I Lost My Car Insurance Card. How Can I Get A Replacement?
- I Have A 16 Year Old Who Has Just Got His License. A Friend Told Us That Putting The Vehicle And Insurance In His Grandmothers Name And Letting Him Borrow The Vehicle From Her To Drive Will Avoid The High Cost Of Adding Him To Our Policy. Is This Tr?
- With A Learner's Permit Can You Drive Anybodies Car As Long As The Passenger Is Twenty One, Even Without Insurance Of Your Own If The Passenger Has It?
- How To Know If Vehicle Is Insured?
- How To Find Out If Car Is Insured?
- How Do I Find Out Who My Mobile Insurer Is?
- How To Check If A Vehicle Is Insured?
- Can I Legally Drive An Unregistered Car Even Though I Have Insurance?
- Is This Car Yk55wll Is Insured?
- What Company Is This Car Insured To (yc07vnu)?
- Do You Accept UCare For Seniors Insurance In Rochester?
- What Classes In Highschool Do You Have To Take To Be A Car Insurer?
- Does A 501c3 Has To Be Insured?
- How To Write Letter Buying A Car?
- Can I Pay To Find Out Who I Am Insured With?
- I Live In PA My Son Is 17 And His Drivers Permit Is Running Out. If He Takes His Test And Gets His License But Does Not Have A Car To Drive Does He Have To Get Insurance?
- Does Car Insurance Go Up For Installing Sub Woofers?
- How Do I Find Out If The Car I Had An Accident With Is Insured?
- How Much Is Car Insurance?
- How Many Americans Have Car Insurance?
- My Auto Was Damaged In A Wreck The Insurance Company Sent Me Check For Depreciation In Value The Car Is Leased Who Get The Check Me Or The Lease Company?
- Can I Drive My Car To Get MOT If It Has No Insurance?
- I Cant Remember My Last Insurer To Get My No Claims Bonus What Can I Do?
- I Accept Your Offer In Principle. Is This Correct?
- Are All Car Insurance Companies Rip Off?
- How Do Insurance Companies Estimate Car Damage?
- Are All These Women-only Car Insurance Companies Just Jumping On A Bandwagon?
- Why Are Some Companies Offering Discount Women's Car Insurance More Expensive Than Others?
- Do Car Insurance Companies Give Discounts To Customers Who Have Had A Baby?
- Why Do Car Insurance Companies Offer Women Driver Cheaper Deals?
- What Do Insurance Companies Do With Property?

New Comment - Comments are editable for 5 min.