Agreed Valuation For Insurance - Independent Specialist?

[AdamR]

Hi guys,

Having a few teething issues with my new insurance policy...

I was offered the chance to get an agreed valuation, the same as on my previous car. I obviously wanted to take them up on this offer, however the valuation has come back wildly inaccurate (in my opinion). If the car was stolen today I would stand to lose over 30% of what I paid for the car a couple of weeks ago...

The insurance company have asked me to provide evidence towards the value of the car. Apparently similar vehicles currently for sale would sometimes be adequate, but what they would really want is an official valuation from an independent specialist.

I made the point that there is no such thing for Westies (other than Toybox? No chance) - so my question is, what have others done in the same situation?

Any help appreciated!

Regards,

Adam

[Mark (smokey mow)]

I've held agreed value policies over the last 4 years with Adrain Flux, REIS and now with A-Plan. None have asked me for an independant valuation and all have accepted my own photographs and the realistic value I have given.

IMO if the insurer is being awkward at this stage then I'd suggest trying someone more helpful elsewhere.

FWIW I believe Westfield can provide a written valuation from photographs (at a cost). But if you've just bought the car then surely the sales advert will be enough evidence as to the market value of the car?

[AdamR]

Cheers Mark - just got off the phone from the insurer (who are A-Plan, and have been absolutely great thus far - the underwriter is Highway) and they said the sales receipt would be sufficient too.

It seems they looked at the age of the car (1995 chassis) and didn't take into account the re-build in 2011 (with associated costs - I forwarded a spec list but I think they only received the photos), which is why the valuation is low.

A-Plan have said that I can change underwriter if we continue to have issues, but they hope to get it resolved this week.

Thumbs up to Clare at A-Plan

[pistonbroke]

I went to the factory , they gave me a written valuation F.O.C.

[BLiNK Motorsport]

If you think we can be of assistance in any way then drop us a mail Adam.

[AdamR]

Thanks for the help (and offer of!) guys - managed to get a copy of the receipt from the seller, which I believe will do the job.

If not, I'll carry on updating the thread in the hope that it can be of use in the future...

[johngill]

Factory provided mine as well.

[Onliest Smeg David]

My Insurance is underwritten by Highway as well (believe they are part of LV) but via Frank Pickles.

They were happy with just good quality photos for my guaranteed value.

[AdamR]

Yeah, everything went perfectly with the other car - which is why I got a bit of a shock today!

Should all be sorted by the end of the week I think

[Mark (smokey mow)]

Great to hear Clare is hopefully sorting it for you

[Dave Eastwood (Gadgetman) - Club Chairman]

Frank Pickles/Highway, IIRC, have a value cap over which you needed a proper Independant valuation for their agreed value policies. (that's what I remember being told when I asked last year anyway). Mind you, intending to transfer to A Plan anyway this time round. (Had a good quote from Claire)

[AdamR]

Bit of a bump / update - I went on holiday for a week (and so did Clare), but we are almost at a solution now.

The underwriters came back with a half-way house 'offer' which I decided to decline. Clare is looking into switching to a different underwriter who will agree the valuation before the premium is paid. I will only pay pro-rata for the time on cover with the existing company (no brokerage fees from A-Plan - refreshing!), and then a new policy will be taken out with the agreed valuation on it from the start.

This sounds a bit A***-licky, but I've actually been genuinely surprised at how thorough, friendly, responsive and efficient A-Plan have been throughout. I've not experienced such 'customer care' from an insurance company before. So, huge a thank you!