Overhaulin'

Car Insurance quotes - when you get an online quote and it asks you?

how much your car is worth, do you quote the price you paid for it or its present price..? I ask because if you think about it you could have bought your car last year for £12, 000, and one year later it's worth £9,000. If you car is written off it isn't as ther inusrance company will pay out on the amount you paid for the car.. this happened to my brother and they only paid the value it was worth on the day of his crash which was considerably less....

Public Comments

1. Unless you agree a value of the car before you take out the insurance (this involves an insurance assessor viewing your car and agreeing the value you state-normally chavved up motors or specialist marques) then they will ask you this but only pay out BOOK price or otherwise known as replacement price.
2. Don't know why they bother asking this, they'll only pay out on the "Book Value" at the time of the claim. Normally you give the current value, roughly, i.e what it's worth when you apply.
3. I put down the present price
4. aim high with your valuation it will not affect the premium (if you process two quotes they normally come out the same) going by the purchase price of the car. the insurance company will only offer you bottom book price for your car if you have to make a claim then you will have to argue / question their valuation going on service history, millage, condition extras fitted to the car ect. never accept the first offer.
5. I go along with "Day 1"