JK insurance agreed value form?

Post by **mankymusic** » 27 Jun 2006, 14:41

just finished my conversion and informed my insurance company (just kampers / HIC) and they want me to fill in an "agreed valuation form"

is it worth the £15 they charge or do they just come back with the market value price?

also, I'm not really sure how much my van is worth, its my first one.
have a ganders and let me know what you think.
http://www.bangor.ac.uk/~oss403//benpow ... velle.html

cheers

Website · Post by **CovKid** » 27 Jun 2006, 16:02

I like the way you've got that caravelle laid out actually. I've got the manual version. I was going to do mine so the middle seats slide out in summer and the sink/cooker goes in - making it more practical. Hard to say on value - a roof adds a lot. Mine doesn't have one but at least i can get in most car parks

Post by **excalibur** » 27 Jun 2006, 19:07

right, insurance companies.

When you take out insurance they will ask you for a value. That is the value they HAVE to pay out in event of a total loss, regardless of if you took out agreed value or not.

I had Norwich Union in court a few years back as they said they would only pay market value, has something to do with the unfair contracts act, but the court agreed as I had taken out x amount of cover, paid premiums based on that, then that is what they had to pay.

Post by **mankymusic** » 29 Jun 2006, 15:07

covkid -
roof? what roof?
glad you like it anyhow, I'm amazed it all works!

excaliber -
thanks for the advice
my initial insurance value was the price I paid, but just last week I had the insurance value upped after the conversion, does that mean that now I have cover for the later value or is "market price" still the initial value.

thanks again for the feedback.

Post by **MikeB** » 29 Jun 2006, 23:16

If you have the agreed value then there should be no arguments. You've paid the premuim, they've agreed the value, they should just pay out at the agreed value.

Yes, you could probably take them to court as excaliber did, but I'd rather pay £15 than spend however long in court personally.

If you are not convinced the higher value is in force then ask them for updated paperwork.

I've just renewed my insurance and increased the agreed value by £2k (subject to returning the form) and it added £30 to my policy, money well spent in my book. I pay them an extra £30 and they give me and extra £2k if I have to claim.

Mike.

Post by **syncroand101** » 30 Jun 2006, 07:04

excalibur wrote:When you take out insurance they will ask you for a value. That is the value they HAVE to pay out in event of a total loss, regardless of if you took out agreed value or not.

If only this were true. I had nearly a years fight and still didn't get the value the insurance certificate stated. Wasn't agreed value mind.