So, Adrian Flux rings me today ...

[GT4]

OK, it wasn't Adrian Flux, it was a call centre representative and they were calling on behalf of FluxDirect (I didn't think Adrian was indirect :dont know: )

Any way, they said my renewal was coming up (it isn't, it's due in October and it's currently with Manning UK).

So far so good, yadda yadda.

About to thank them for their very early morning call, and then they dropped the bombshell:

Say what, £199.34?!?

This is my 993, for a full 12 months, £650 excess, 3k miles (about 2k more than I need).

OK, so not agreed value ("Market value", whatever that means - does Booo moonlight as a loss adjuster for AF :?: )

No doubt won't be on the table come October, and I'm still wary on MV, but if I don't plan to write it off, it's very tempting.

 

[highway]

Even allowing for your advancing years and desirable postcode that is an awesome quote. I'd take that offer before they change their mind. My quote from them suggested they had confused me with one of the Blues brothers. Either that or my ghetto address.

 

[Zingari]

I doubt your Saga policy will match that. Is that with mirrored NCB or stand alone on this policy :dont know: I'd take it :thumb:

 

[chimp911]

Cheap premium = cheap payout

Beware the lure of an attractive quote. Fantastic so long as you don't bin it or lose it, but MV effectively means trade value, and since they get to decide what the MV is, don't expect it to be all that generous.

Your car, your gamble...

 

[pzero]

Cheap premium = cheap payout

Beware the lure of an attractive quote. Fantastic so long as you don't bin it or lose it, but MV effectively means trade value, and since they get to decide what the MV is, don't expect it to be all that generous.

Your car, your gamble...

It would only be a gamble if the car left its garage, and given that we are in for some wet stuff (again) this summer then methinks he's done his sums :?:

 

[pzero]

Cheap premium = cheap payout

Beware the lure of an attractive quote. Fantastic so long as you don't bin it or lose it, but MV effectively means trade value, and since they get to decide what the MV is, don't expect it to be all that generous.

Your car, your gamble...

It would only be a gamble if the car left its garage, and given that we are in for some wet stuff (again) this summer then methinks he's done his sums :?:

 

[GT4]

I like the idea of Agreed Value.

It's like a put option on the vehicle value (sorry Booo).

PS - no SAGA yet, I'm only 21 (years older than my car).

 

[Roro]

I think it's great that pensioners get such good deals on their car Insurance, it keeps them on the roads in their antiques a bit longer.
8)

 

[PeterS]

Market value means exactly that.

If you had sold your car just before the accident, how much you would realistically have got for it. Likewise, how much you would have to pay for a similar one, buying privately and haggling the price down.

It does not mean the price that you see them on dealer forecourts for.

It certainly seems a competitive quote.

 

[chimp911]

Market value means exactly that.

If you had sold your car just before the accident, how much you would realistically have got for it. Likewise, how much you would have to pay for a similar one, buying privately and haggling the price down.

It does not mean the price that you see them on dealer forecourts for.

It certainly seems a competitive quote.

+1 for the man in the know :thumb:

Thing is, would your average loss adjuster know (or even care about) the difference between a much loved and fettled garage queen and a rust-riddled old dog, especially if heaven forbid the car is not recovered or meets a fiery end... :dont know:

They'll simply look at age and mileage and all the years of tireless buffing and pampering will only amount to a well placed but poorly timed kick in the plums - a car of this heritage and provenance deserves an agreed value policy :soapbox:

 

[GT4]

That's me told :coat:

 

[GT4]

I think it's great that pensioners get such good deals on their car Insurance, it keeps them on the roads in their antiques a bit longer.
8)

Git.

 

[Andyc11]

I work in the industry (someone has to). Market value means the retail value of the vehicle. The starting point for this is the standard trade guides retail value not trade value. In other words, to try and place you back in the position you were prior to the insured event. For marques such as this, the engineer will know he's not dealing with his normal type of vehicle and will base his estimate of value taking that into account.

Now, if you can provide him with folders full of receipts/history to evidence that the vehicle was meticulously maintained/cared for, as well as any other similar examples in the marketplace that are comparable to yours, you have a strong case should you disagree with his initial estimate. If you're still not comfortable, the Financial Ombudsman Service can intervene and again, the better you present your case to them the more likely you are to succeed.

Don't get me wrong, this shouldn't be something you have to do and in most cases it is very rare that things go that far. That premium sounds ridiculously cheap and although I wouldn't necessarily be concerned about potential low offers should the worst happen, I would be concerned about the level of cover. Have you checked the policy wording? Some insurers are now using 2nd hand or blueprinted parts to repair vehicles. Are there any 'hidden' excesses e.g. compulsory AND voluntary, or very high excess amount for window damage?

The bit people tend to get burnt on is not reading the terms and conditions of the policy. Whether you believe it's hidden in small print is largely academic I'm afraid, the reality is the information is in there and to protect themselves, all insurers will advise you to read it. Where you don't and then seek to rely on it being 'small print' will not stand up with either the insurer nor the Ombudsman. Hope that helps and if you're comfortable with everything, well done, that's a great price.

 

[Zingari]

Told you, I'd take a punt. "He who dares, Rodney" :thumbs:

 

[clarkycat]

I like the idea of Agreed Value.

I would not insure without it.


To me, agreed value = Insurance against getting market value.

The difference on just a single payout between the two could be more than you are going to spend on cheap car Insurance for the rest of your driving life.
:thumb: