My 68-plate CAR is worthless!

[Rapido925M]

Last year I purchased a new-to-me car for £24k and was pleased with the insurance policy offered by Aviva Online (not that I used it: ALL policies are great under those circumstances )

A couple of weeks ago the renewal quote came through and it was less than any other quote from MoneySupermarket, Meerkat etc. So I checked all of the documents more carefully and came across this at the bottom of two long pages of "facts provided by You":
Vehicle Value: £0.00

I double-checked it on Aviva's website and, yes, there it was: zero value!

So I contacted the helpline who replied within 24 hours to say "We are suffering from a technical problem. Just buy the insurance and then a figure will appear".

I told them how my first car (Morris Traveller) cost £170, was insured for £170 but valued by an assessor at £250 when it was written off. The insurance company paid £170. So please can you supply a value?

Again, the answer was "don't worry".

As D-day approached I asked for a value but my request when unanswered. My daughter is a manager with Aviva and she said not to worry, so reluctantly I allowed it to autorenew this morning.

Now I have a figure: £21 600. (Interestingly, £24k less 10%.)
Typically, cars with similar age and mileage are £24k on Autotrader but they are 2wd: mine is 4wd with the higher-power engine but none are available.

So I went back onto the Aviva website, clicked on Change Details and raised the value to £24 500. Intriguingly, this was accepted without any change of premium.

Keep an eye on your insurance policies!

Gordon

 

[St3v3]

So I went back onto the Aviva website, clicked on Change Details and raised the value to £24 500. Intriguingly, this was accepted without any change of premium.

I'm pretty sure they will pay either of what you declare, or (what they deem to be) market value, whichever is the LOWEST.

Unless you put an extra zero on the end of your value I doubt it even gets looked at unless they can save some money on the above clause.

 

[Spriddler]

Regardless of the value you put on it if it's written off or stolen and not recovered you'll only get 'market value'.

You can get 'Agreed value' if you go through the insurer's process (photos etc.) which I have on my vintage classic Brit motorbikes.

 

[Rapido925M]

I'm pretty sure they will pay either of what you declare, or (what they deem to be) market value, whichever is the LOWEST.

Unless you put an extra zero on the end of your value I doubt it even gets looked at unless they can save some money on the above clause.

EXACTLY! Hence why it is important to have their value at least in line with the current market value. If it was written off before I'd changed it, they would have been offering £21 600 rather than £24k (or whatever I could get a replacement for).

I did wonder how the Insurance Ombudsman would view their "offer" value of £0.00 if that remained on the policy. Would it be my fault for signing up to it OR theirs for having a technical problem? And if it was theirs, what figure would have been decided upon: the market value or the figure which they subsequently pulled out of the hat?

Gordon

 

[suavecarve]

EXACTLY! Hence why it is important to have their value at least in line with the current market value. If it was written off before I'd changed it, they would have been offering £21 600 rather than £24k (or whatever I could get a replacement for).

I did wonder how the Insurance Ombudsman would view their "offer" value of £0.00 if that remained on the policy. Would it be my fault for signing up to it OR theirs for having a technical problem? And if it was theirs, what figure would have been decided upon: the market value or the figure which they subsequently pulled out of the hat?

Gordon

I would be more interested if this computer glitch was not rectified in a timely manner.
A bit opportunistic more than a glitch one suspects

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[Two on Tour]

A bit opportunistic more than a glitch one suspects

Ooow, you little cynic you, ....................... how could you think such a thing.

 

[suavecarve]

Ooow, you little cynic you, ....................... how could you think such a thing.

Insurance company !

 

[rangi]

I'm amazed, NFU has the value of my 17 Plate Skoda as £75,000 on the renewal notice I've just received

Questions Questions???
Do I take it out of the drive, and release the handbrake and let it roll the 300 or so metres down the hill onto the A393 during rush hour

OR! do I tell them when I renew tomorrow?


Option #2 I think, don't you?

 

[Conal]

My Morris Minor is probably worth £10,000. I say probably because the problem with old cars is that the maintenance history is often missing and you could by driving a large heap of rust. Thanks to this thread I have just raise the “value” of the car to that figure from the £8,000 it was before. My car is called “The Money Pit” for reasons obvious to anyone who has a “classic” car

 

[Brains]

Like most motorhome owners, the replacement value of our van has almost doubled in the last two years
(Our particular model is apparently highly desirable, a dealer genuinely thought he could sell one a day, if only he could get the stock)

I therefore called Comfort earlier this year and ensured the current listed value is considerably more that the price we paid for it 2 months before the start of the pandemic.

Comfort changed me an additional £125 for the privilege!

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