Insurance Conundrum

[shj]

Advice please,reading Honest Jonh this W/E,he implies that insuring a 1995 150,000 mile E300D is not worth insuring fully comp because "the car would be automatically written off and a derisory settlement made,even if it requires only slight repairs"
I have a 1995 E320 Coupe with 107,000,I value the car at circ £7000, and have an exess 0f £300,would it realy be better to only insure it third party,fire and theft only.
Thanks
Simon

 

[ba9rn]

I think you should talk to your insurers about this. Like what they would consider to be a write-off, and the expected write-off pay out for your vehicle. They will be able to tell you this. If they refuse, go to an insurer that will.

 

[Blobcat]

If you have 'market value' in your valuation section then if the worst happens you search around for similar vehicles to yours currently for sale and send the adverts into your insurance company. You then explain that this is what it would cost you to replace you car and expect the insurance company to cough up. This is the exact position I am in with my motorcycle post accident on 10th July. I am awaiting a 3rd valuation as I have rejected (nicely) the previous 2.
You could also try for an agreed valuation, however these tend to be attached to limited mileage policies which may not suit.

 

[mioba]

to be honest i wouldnt comprimise on something like this, accidents do happen and we dont know how bad they will and can be, nor do we know the intentions of the other party (ie what they will claim)

i would always go fully comp. but its up to you, your driving the car

 

[shj]

Thanks for your help,spoke to insurers,who could not give a write-off value as Blobcat said it would depend on the ads I could find supporting my valuation,frankley I could't find any ! so I think I will continue along the peace of mind route and stay with fully comp

 

[C220GJS]

Check the difference in premiums between fully comp. and tpf&t, in my experience with older cars there is not that much in it and the extra for fully comp. is worth it for the windscreen cover alone.
Geo.

 

[shj]

Geo,whats tpf&t ?

 

[Blobcat]

Third Party, Fire & Theft

Though why anyone would steal a burning car is beyond me....

 

[OlafMaxwell]

I had the screen replaced by the dealer....who called in a specialist....who fitted the MB screen which the dealer supplied to him....sent the insurance co the bill and they gave me a cheque pronto. the screen was fitted as part of the service but the insurer paid the full cost, no excess.

But...check the screen is fully and properly bedded, including the loose inserts which go well down behind the front wings...otherwise you will get wind noise that was not there before.

 

[Bolide]

With all due respect to HJ, I think he's dead wrong here. I would advise anyone with a remotely collectable W124 - that is, anything apart from a bog-standard saloon - to put it on an agreed value policy. Failing that, see if you can get gap cover for the shortfall when a claim is made

Insurance companies can and will fail to meet the claim value you want in respect of these cars

Nick Froome
www.w124.co.uk