Hitchcocks Forum

Carole Nash have added 2 new paragraphs to the terms and conditions relating to Agreed valuations which states "Furthermore at the time of a claim the agreed valuation must be comparable with the price needed to purchase other vehicles of a similar make, model, date of manufacture and recorded mileage that are also in a similar overall condition as your vehicle. Otherwise the most we will pay is your vehicles market value at the time of the claim"


Seems little point in having an agreed value anymore.

Dave

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"T he vehicles condition at the time of a claim" ???






This chap survived with the following:



– Fractured right ankle

– Broken right toe

– Fractured collar bone

– Fractured wrist

– Fractured humorous

I imaging the chap's humour was seriously dented but I think you mean the humerus, the upper arm bone.

No, somebody else did,I just copied it! yay!

And I meant imagine but the spell chequer thought otherwise

Imaging?, chequer?, people glass houses etcetra.

Personally i don't see any problem with their stated terms.

The agreed valuation made for a vehicle 5 years previously can have very little relevance to the claim made today for total loss, ie theft.

The insurance firms are going to be guided buy the trade price guides, or market value publications, backed with evidence of bikes condition/mileage, service history etc, and will make an offer based on this..

The policy owner will no doubt dispute, and refer the case to the ombudsman.

Perhaps in the case of say a Kawasaki Z1 where the value is rising year on year, i would have thought a “classic” type policy would be agreed with premiums levelled to reflect the increasing value..

A bit old now but just a snippet of some case studies and how the ombudsman decided..



http://www.financial-ombudsman.org.uk/p ... urance.htm

Glass houses is true Dennis but one is the completely rubbish predictive typing checker for my arthritis, the other is completely the wrong word. Which makes it humorous. Otoh I've been offered a 'write-off' value for a car which would not cover replacement with a similar vehicle, they simply use a trade list price for age, not street price nor upkeep.

I reached that conclusion re agreed value on my 1954 Triumph some years ago. Should the worst happen I would find examples of the same model for sale and use them as the starting point for negotiations. Re spell and grammar checker, some years ago as a test I typed in "We had an English exam today and we all done good". Bill Gates reckoned this was proper English. Then again he is a billionaire .....