Insurance fraud?

[carmanmemoranda]

I still dont see the point in them asking if they will only pay the book price anyway

If you over value it, it might indicate somebody looking to "have an insurance claim". Under value it is looked at as another risk.

The "book" price is the level they negotiate around. It's not a fixed value. But they wii want reasoning and supporting evidence if you want to claim a much different figure. The claimed value will be part of that reasoning.

 

[mattylad]

I have had a value for the car in every insurance renewal for the past 30 years.

Were you asleep when you renewed yours?

 

[DiyNutJob]

I have had a value for the car in every insurance renewal for the past 30 years.

Were you asleep when you renewed yours?

Was it your value or their value?

I have never had a value until this time. Although this is my first car to get to 20 years old.

 

[cdbe]

They've done this for years - you can overtype your own figure. My last one I changed from £1750 (about WBAC value ) to £3999 - typical "main road" independent dealer price and reflecting recent cambelt/WP, Clutch, DMF and clutch hydraulics and significantly lower than average mileage. I don't think it actually changed the price of the quote. If I omitted to do this I'd just ask them to source a car the same age, mileage and condition as mine for the money they offered me.

I can't believe they'd quibble much as they still seem (fairly) happy to pay claims management crooks £600/day for car hire.

My classic car is agreed value - I gave the value and they agreed it.

 

[Harry Bloomfield]

My classic car is agreed value - I gave the value and they agreed it.

I was offered it, at extra cost, and to get it I would need to provide a series of photos, around exterior, and interior.

 

[Mottie]

I was offered it, at extra cost, and to get it I would need to provide a series of photos, around exterior, and interior.

I've had that before but only with classic cars with a specialist insurer.

 

[DiyNutJob]

They've done this for years - you can overtype your own figure.

I cannot. They shoved the value in my face along with other bits and a button for me to agree and pay. I thought the value was a bit low and became alarmed. I checked for prices some time ago and was surprised they were quite perky. Hence the low ball hit me hard.

 

[cdbe]

I cannot. They shoved the value in my face along with other bits and a button for me to agree and pay. I thought the value was a bit low and became alarmed.

I would definitely query that (i.e. is it maximum, or a rough indicative estimate - like when they estimate your house rebuilding cost).

I swear people make a living off the Financial Services Industry just thinking up ways to allow companies to con customers and then disappearing when the authorities cotton on.

Apparently banks are in it for billions with the latest car finance miss-selling rulings.

 

[mattylad]

Was it your value or their value?

I have never had a value until this time. Although this is my first car to get to 20 years old.

Both.

They offer up their suggested value and I am able to change that to my preferred value.