Motor Insurance

[jack]

Ponder this one..Insured my Motorhome in 2000.value

[great white]

Jack as the vehicle depreciates have you reduced the insured value?

 

You would not be paid more than that, so not much point in paying premiums on the 12k they would not pay you.

 

Being over insured is as bad as under insured

 

Charlie

[Paul J]

Interested to know what drop in value actually reduces the premuim?

 

Eg: would a drop in insured value from say

Edited January 17, 2007 by Paul J

[Afishionado]

Jack, Always always always get several quotes each year at renewall time NEVER automatically renew without searching the market. Your NCB is YOURS and is absolutely portable.

Insurance companies rely on people like you who just renew. I would bet if you were to go to your existing company as a new prospective custome they would quote you several hundred pounds less than you currently pay.

 

Getting Quotes on the Internet is the easiest thing in the world.

 

Mad Mike

[Paul D]

May I recommend

 

Confused.com - Car Insurance Searching

 

They do all the searching on the different sites for you automatically and results return in minutes. Superb.

 

[Newboy]

Swiftcover.co.uk does the best quotes, but they only deal thru the internet.

[Newboy]

Post office and Swiftcover are offering

[jack]

Thanks all, I did'nt know you could revise the write off value[i will try that later,but I have just bought a new van,]. I have tried other Ins Co.s, Their premiums are usually higher, You are rather restricted with Motorhome Ins.quotes.And many companies are refusing to cover you once you are 70+.In the main I think I am about stumped...cant take it with you anyway.!! jack

[duncan]

I am somewhat surprised that they are issuing 'agreed value policies' on motorhomes; but this may be a function of specialised motorhome insurance I guess.

 

In any event on the road, unlike on the water still, the majority of the risk is represented by third party damage rather than the vehicle. In fact for most older vehicles the cost of recovery etc and scrapping can easily be higher than the payout to the insured - and that's a constant to vehicle value!

 

Oh - and it sounds to me Jack that you should tell thenm you haven't had a claim or fine on the boat over the last year and ask them for your

[jack]

Had a long discussion with the Saga rep this morning whilst changing my vehicle details. He says they dont make any adjustments in value during the lifetime of a policy,with the exception of vehicles