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Old 11-01-2017, 18:51   #1
PaulS-DOA-85
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Evo 6 GSR insurance

I'm trying to insure my Evo 6 GSR on a agreed value policy via Pace Ward, however they are unwilling to quote. Am I missing something here? Does anyone here have their car on a agreed value policy? Thanks for any help.
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Old 11-01-2017, 19:06   #2
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Did they give you a reason?
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Old 11-01-2017, 19:36   #3
PaulS-DOA-85
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No reason given, literally said "We wouldn’t be about to do this on agreed value"

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Old 11-01-2017, 19:40   #4
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What's the agreed value?
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Old 11-01-2017, 20:26   #5
PaulS-DOA-85
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I've asked for 20k

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Old 11-01-2017, 20:32   #6
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Quote:
Originally Posted by PaulS-DOA-85 View Post
I've asked for 20k

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Is it red?
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Old 11-01-2017, 20:36   #7
PaulS-DOA-85
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No its not. 20k will be above current market value, would that be the issue? I don't get why they wouldn't just indicate that if it is.

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Old 11-01-2017, 20:39   #8
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I think that's your issue (20K) to be honest. If the car is pretty standard you could in theory replace it with a fresh import for just over half of that to be honest. Remember PW are on the MLR too so they know how much a VI GSR goes for on here as well if you are comparing like for like. As someone else said if it was a red TME or similar 20K sure at the moment.
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Old 11-01-2017, 20:39   #9
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It would have to be mega mint and low mileage I guess to warrant 20k

You tried Keith Michaels?
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Old 11-01-2017, 20:40   #10
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Is it the low mileage blue one by any chance?

I've yet to see many, if any GSR reach that price tag. So I guess it's hard for any insurance let alone a specialist like Paceward to justify such a premium when market values at best are -£5000 from your estimated valuation.

If this was the case everyone would be insuring the cars at £100,000 and then going missing every week.

Have you any documented history, indication you can show Paceward that gives them an indication why your example would be worth a lot more than others for sale? This may help you.
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Old 11-01-2017, 20:44   #11
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I think that MidnightE6 has hit a nail on the head about insurance and agreed values. Not saying that you are likely to at all as I expect it's your pride and joy like most on here. BUT they can't insure it for an agreed fee over the top and leave themselves open to an 'insurance job' if you get what is being written here.

I assume it's not one like the Icelle Blue pair recently both mint and 7500K and 12500K miles each? IF so then YES worth a lot more than market but would also have proof that they were.
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Old 11-01-2017, 20:57   #12
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Yeah I agree that the significantly more than market value I've asked for will likely be the issue. Now I'm wondering if its even worth going for a agreed value policy, rather than a normal market value payout policy
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Old 11-01-2017, 21:07   #13
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Quote:
Originally Posted by PaulS-DOA-85 View Post
Yeah I agree that the significantly more than market value I've asked for will likely be the issue. Now I'm wondering if its even worth going for a agreed value policy, rather than a normal market value payout policy
Well it kinda depends on lots of things. PaceWard are decent insurers to deal with so well worth taking their advice over the phone I think maybe tomorrow. None of us on here know your personal insurance circumstances, like age, experience, claims history, and all the other stuff that you don't need to post up on here.

All I can say is that I insured my car with them originally for what I paid for it and have now upped the value in line with the market. All I am interested in is should the worst happen, can I get it repaired/replaced.

I would persevere and take their advice making sure you provide them with ALL your info on the car like mods, plans for it and that.
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Old 11-01-2017, 21:12   #14
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ok will do, thanks for the help all
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Old 11-01-2017, 22:37   #15
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If you use a decent insurer (ie a specialist) an agreed value policy isn't always essential.

As others have stated, if you want an agreed value it has to be realistic.
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