Just had an interesting convrsation with barclaycard motor insurance. "so hang on, youve got 90bhp at the moment, and you will be having 300?!" "yes " 5 LOOOOONG minutes later....... "ok sir, you will be paying x amount extra per year, on top of your 700 fully comp at the moment, and the value of the car increased to 13,000". So, whats the value of x?
I wont keep you hanging long, ill just spray some base coat on this mk3 bumper i have, and ill be back with the 'interesting' quote....
it aint gonna be worth anywhere near 13,000 mate! i reckon it's gonna be cheaper cos they'll just class it as a mk4 1.8T or something.
Why 13,000? Because thats at least what ive spent on the car. Even though its true value wont be anywhere near 13,000, why not just insure it for that? Anyway, all mods / engine declared, 13,000, 167 extra per year.
cool! the thing is though - they wont actually pay you 13000 for it if it gets stolen or anything, they'll pay you the "market value" which they will start off saying is the market value for a mk2 golf driver. then youll have to find mk2 20vTs with a similar spec that are for sale to prove its value. good luck finding any that are up for 13000!
Can't you get them to put it on an 'agreed value' or something to do with how much it would cost to build a similar replacement car?
