24-02-15, 07:17 AM
For a first time i took it out with my toyota truck,£23,000.00 plus vat, i was warned that if i suffered a write off or theft the insurance company only has a duty to pay market value,not new value.
so if i used it for a month ,then lost it , the insurance company would value it alot less, used with 2000miles on it , valued at about £5,000 less :eek .
This is where the insurance companys screw us :'(
The value is not what it is sat in a showroom,,no , that has company profit on it,they wont value that as covered.just the cost price of the vehicle.
Billy
so if i used it for a month ,then lost it , the insurance company would value it alot less, used with 2000miles on it , valued at about £5,000 less :eek .
This is where the insurance companys screw us :'(
The value is not what it is sat in a showroom,,no , that has company profit on it,they wont value that as covered.just the cost price of the vehicle.
Billy
An ageing test pilot for home grown widgets that may fail at anytime.