market value vs agreed

chuggertwo · Oct 9, 2016

Have VW T4 Westfalia California Exclusive 2002.
Just wondering have had agreed value previously but wonder if it is still worth doing this again?
Any comments/thoughts?

WelshGas · Oct 9, 2016

I would check what some of the used vehicle guides value your vehicle at, or even ask a Dealer who deals in these vehicles for a valuation and compare it to what these vehicles are being sold for. Basically you want a valuation that would allow you to replace said vehicle if written off. However, this might put up the premium.
Unfortunately the basic valuation rarely takes account of any " scene " valuation based on lifestyle or rarity value.

2into1 · Oct 9, 2016

Yes, it's essential you tell them how much you are insuring it for (they always ask) and ensure the documents refer to that value rather than a vague 'market value'.
Many of the specialist insurers seem to operate like this.
There are no (afaik) guide values on line or published for such rare beasts. Keeping notes of what you see them advertised for sale for may be a useful precaution.