+- 306oc - Peugeot 306 Owners Club & Forum (https://www.306oc.co.uk/forum)
+-- Forum: General (https://www.306oc.co.uk/forum/forumdisplay.php?fid=6)
+--- Forum: The Couch (https://www.306oc.co.uk/forum/forumdisplay.php?fid=7)
+--- Thread: Insurance question (/showthread.php?tid=23755)
Insurance question - SteveMcs - 03-05-2014
I passed my test on thursday so i'm now in the process of getting the car road worthy and the insurance sorted. After doing quotes i've come across something strange.
If i put the value of my car as £450 it comes back as
£197.98 x 1
£92.25 x 10
However, if i put it as £1100 it comes back as
£181.36 x 1
£84.70 x 10
Now i know they probably won't pay out on that, but is there anything stopping me putting the value of the car as £1100 and pleading ignorance if they say i over valued it?
RE: Insurance question - Dum-Dum - 03-05-2014
Nothing at all mate but they might ask you to prove it or tell them why its worth more even when you buy insurance.
I rounded up the value of mine slightly as alot of the modified insurers wont do fully comp insurance below a certain value.
RE: Insurance question - SteveMcs - 03-05-2014
The insurance company has no idea how much i paid for it though so couldn't i just say that's what i paid?
RE: Insurance question - Nathan1305 - 03-05-2014
(03-05-2014, 09:59 AM)SteveMcs Wrote: I passed my test on thursday so i'm now in the process of getting the car road worthy and the insurance sorted. After doing quotes i've come across something strange.
If i put the value of my car as £450 it comes back as
£197.98 x 1
£92.25 x 10
However, if i put it as £1100 it comes back as
£181.36 x 1
£84.70 x 10
Now i know they probably won't pay out on that, but is there anything stopping me putting the value of the car as £1100 and pleading ignorance if they say i over valued it?
What insurance company is that? I need to insure mine but it's £200+ a month
Re: RE: Insurance question - kentiiboii - 03-05-2014
(03-05-2014, 10:22 AM)SteveMcs Wrote: The insurance company has no idea how much i paid for it though so couldn't i just say that's what i paid?
Of you've declared any Mods then include the value of the mods.
They make it cheaper when you value it at £1000, as no one cares about a £400 wreck no offence.
RE: Insurance question - Mattcheese31 - 03-05-2014
actually, they take it as you won't look after your car if you value it too low, i always value my 306's at £1000 . . .
RE: Insurance question - Slam Wagon - 03-05-2014
Market value is around £900-1000 last time i looked. So thats a not a high value to put on it.
RE: Insurance question - Toms306 - 03-05-2014
Yeah its fine to do, its another one of the little tricks I've been using for cheaper insurance.
Re: RE: Insurance question - kentiiboii - 04-05-2014
(03-05-2014, 07:10 PM)Mattcheese31 Wrote: actually, they take it as you won't look after your car if you value it too low, i always value my 306's at £1000 . . .
That was what I was aiming at, ive editied it.