32 replies to this topic

[Timtom]

If you have had the agreed valuation agreed then they will pay that much if its not your fault for an accident or if its stolen or set fire to.

If you don't have an agreed value they will give you the market value. which will be very very low!

[mikey72]

Yes.

the agreed value is the value you expect to be paid if the car is stolen. (or set on fire)
Market value is normally the average value you could buy or sell a normal car for.

So, normally you would expect the two to be the same, but the market value for the average 20 year old car would be nothing like the agreed value for a pristine mini, that's been garaged all it's life, and only comes out for shows.

Hence the agreed value. Even a "run of the mill" mini would be a grand or two, as opposed to the £300 or £400 our 1997 peugeot 106 is worth.
I haven't checked FJ policy, I thought it included the offer to let you buy it back if it was written off, but it's not really applicable to TPF&T, but I suppose it could turn up later.

You should be stating an agreed value of what you would expect to be able to buy a car in the same condition for, as that's what you'll be wanting to be able to do.
The valuation cert is good if someone else writes it off, as you'll be argueing with their insurers over the value.
£500 won't buy much at the moment, probably not even a runner.

[Kwik]

rightyo, i better get the evaluation done before it gets nicked ! lol

thanks for clearing everything up guys, much apreciated