Insurance question

[mr burns]

Ok i,ve had my Golf GTI now for bout 5 months and loving every minute of it but when insuring it i just got a standard policy usual questions how much is it worth etc so i said what i payed for it (3500) as the previous owner spent alot of money on it as it was his pride and joy, but now knowing what insurance companies are like i,m thinking if it got nicked or trashed would i get there book price based on a 20 year old car, so with this in mind do i need to contact them and discuss an insurance value if the unthinkable happens. Is this what you guys do when insuring your pride and joy. any advice gratefully received

Pad

[Reasty]

yes the only way of ensuring you get back what the car is really worth is to get an agreed value policy,a insurance representative will come an asses the car and an agreed value will be made between yourself and the insurance company,try HIC as I know they do these policys,not all company will.

[dadrathers]

I am with HIC and have an Agreed Valuation. This cost around £15-18 each year. All you need to do is send them receipts for things that show it is has been well looked after plus half a dozen pictures. There is/was a guy on this forum who works for them. Their contact number is 0844 888 4888. Good price as well since it is under limited mileage, classic car type policy.

[maxp]

How much is the book price out of interest? Cant be much more than 1k on a good day.

[mr burns]

To be honest i don,t know what book price of a 1992 golf gti is, but yeh prob no more than a grand for sure.

[th3_f15t]

Speaking from experiance here, but this idea sound really worth it if you've got a good example of a Golf. I had a Fiesta Si before my Golf, well looked after and all the usual stuff, bought for £1,300, worth about that at the time of crash but only got a value of £400 by my insurance people. Yes, that's right... under a third of what I paid for it, not including money spent on it.

[dubber36]

Like the others have said, you need to get an agreed value policy. It may even be cheaper as long as you don't do too many miles.

I'm with HIC, and pay £143.00 for mine with a £4000 agreed value.

The specialist dealer that i bought it from told me about a customer who bought a £3000 Mk2 from him. He had it insured with Direct Line on a standard policy when the worst happend. He got rear ended at a junction, and all they paid out was £800.

[A7 UFO]

The specialist dealer that i bought it from told me about a customer who bought a £3000 Mk2 from him. He had it insured with Direct Line on a standard policy when the worst happend. He got rear ended at a junction, and all they paid out was £800.

yet I'd bet the premium was based on a car of £3k value.  It's this type of story along with the other thread, where someone's premium went up after claiming on a non fault accident (when hit by another suitably insured driver), that really pisses me off about the insurance industry.

[paul69]

I had my '89 Gti written off by an idiot driving on the wrong side of the road before xmas. I had paid £500 for it about 3 years ago but as it was my first Mk2, I didn't know I had got a bit of a bargain( good solid shell, 114k mileage when crashed, almost mint interior, just some cosmetic issues). In my naiety I accepted the acessors first offer of £500 thinking getting my money back was a good deal! Now I am looking to replace it I can see that £500 doesn't get you an 8v anything near as good as mine was! Do you think I have any chance of appealing this,maybe through ombudsman, or should I just put it down to experience!

[A7 UFO]

I doubt you'd get anywhere now as you accepted their settlement.