Agreed value insurance question

[adam73bgt]

Hi just a quick one for anyone with experience of these

I've got agreed value car insurance for my MG for the first time, the paperwork I need to fill in for this asks me to estimate the value of my car.

Now realistically I think its probably worth about £2k maybe up to £2.5k tops in its current condition, but what I'm wondering is, if I say 2k as a valuation, will the insurance company then look at that and the details about the car and undercut my valuation? Should I value it a bit higher as a result?

I don't want to deceive them into thinking its worth more than it is, I just want to make sure I get a decent valuation

So if anyone has had an agreed value policy before and could share any tips it would be much appreciated, thanks!

[bavarianretro]

If it is reasonable, and the photos you supply back it up, they'll accept it. They may ask for a club or independent valuation. Any MGBGT with a genuine MoT *must* be worth more than £2500 on an agreed value basis.

[Deleted]

All agreed value insurance policies I have had have required a club or 'experts' valuation in writing along with several photos.

If you give your own personal estimate based only on what you think it might be worth your insurer will still argue about the valuation unless you get it in writing from them before your policy starts.

[adam73bgt]

Cheers for the replies guys, should probably have given a bit more detail about it

As far as I can tell, they only need me to take some photos of the car and to fill in a form which I've been sent which asks about general condition, modifications etc. There was never any mention of experts being needed to value it or anything

I suppose I'll stick an estimated value of somewhere between £2500 and £3000, worse they can do is offer a lower valuation or ask a local MG buff to have a look at it. The policy has already started and I've been told that in the meantime I'd be entitled to market value for the car if anything happened, so I suppose any agreed value is going to be considerably more than that at least