Insurance Value

[Grey13]

Hi

Where can I get / look up a reputable reliable used touring van "market value" for insurance purposes.
My van is in good condition and neat and presentable.

Thanks

 

[Niall_McIntosh]

The Sum Insured you choose for insurance purposes (assuming you're not on a "New for Old" contract) should be adequate for you to purchase a similar 'van. Personally, I would look at what the forecourt prices are for vans matching your existing one. Don't forget to include any aditional items such as Motor Movers etc.

 

[Raywood]

The only publication that shows used caravan prices is Glasses guide but it is only available to the trade. On that basis the only way of getting a value is to check the dealers for sale adds, but remember they add a bit for negotiating purposes, so I would go for the average less say 5% which should keep you about right.

 

[pastiche]

To me what ever price you think it is you will only get the market value if the worst happens.

 

[ProfJohnL]

To me what ever price you think it is you will only get the market value if the worst happens.

That is not quite true, If you under value the caravan, the most you would receive is the value you have insured it for.

 

[Niall_McIntosh]

To me what ever price you think it is you will only get the market value if the worst happens.

That is not quite true, If you under value the caravan, the most you would receive is the value you have insured it for.

That would certainly be the case in respect of a total loss. However, you might find that, in the event of partial damage, you don't get the full claim paid because of underinsurance ("Average" is the technical name for it).

 

[Raywood]

I cannot speak for all policies but neither of the club ones I have had have been subject to average. For average to apply it has to be stated in the policy wording.
You might find that if the sum insured is under a stated percentage of the replacement price, then market value will apply to any write off.

 

[Brasso530]

When I renew insurance with camc,they usually ask me the value,I then say " oh about X amount",they then tell me what it's insurance value is X (usually about £500 more than my figure.I assume they give me the glasses guide figure.

 

[Raywood]

I did find that they gave me a figure when I updated on a new for old basis. I did find once that having checked the cost new on the manufacturers website that they were too low so it is best to check it yourself before speaking to them.