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Insurance, what is my new evoque worth?
Onebigjobby
 

Posts: 57
Joined: Aug 2011
Location: cardiff
Post: #1
Insurance, what is my new evoque worth?

Hi All,
My question is this - My Evoque is £48,000 new, so how much is my evoque worth on my insurance quote?
do i deduct the £8000 worth of VAT and say its worth £40,000, this would make my insurance cheaper?
or do i just say its worth £48k?
many thanks
Onebigjobby Confused:
16-09-2011 12:05pm
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XFullFatTim
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Posts: 9,295
Joined: Oct 2010
Location: Somewhere between here and there.
Post: #2
RE: Insurance, what is my new evoque worth?

No no no your Evoque is worth £48000, the insurance company sorts out the VAT bit if they have to replace it, but that won't matter because unless you have a new for old policy (unlikely after the first year) then they will adjust the value downward in the event of a write off. It is one reason for taking out GAP so years 2 and 3 will make up the difference in what the insurance will cough up and the cost agreed in the GAP which could be "back to receipt" or "replacement" I have back to replacement in the GAP policy I have.
My car cost £50500 including all the optional extras and dealer fit extras on it and that is what I have cover for

A Pangea Green New Defender 110 First Edition is now sitting on my drive alongside British Racing Green Electric Mini Cooper SE Level 3. After 21 years in my hands my TDI300 90 was handed on to the next custodian on 15 July 2022.
(This post was last modified: 16-09-2011 12:26pm by XFullFatTim.)
16-09-2011 12:21pm
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GibEvoque
 

Posts: 337
Joined: Aug 2011
Location: Gibraltar
Post: #3
RE: Insurance, what is my new evoque worth?

going by pistons heads 10% markupLaughing

2012 RRE TD4 Auto Dynamic, Fuji white, Shadow Chrome alloys, Panoramic contrast roof
1983 Mk1 Golf Cabriolet 1.8 Gli - Plaything
2009 Fiat Bravo 1.4 T-jet Dyamic - Gone
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16-09-2011 12:24pm
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Spiderman
 

Posts: 380
Joined: Sep 2011
Location: Scotland
Post: #4
RE: Insurance, what is my new evoque worth?

(16-09-2011 12:05pm)Onebigjobby Wrote:  Hi All,
My question is this - My Evoque is £48,000 new, so how much is my evoque worth on my insurance quote?
do i deduct the £8000 worth of VAT and say its worth £40,000, this would make my insurance cheaper?
or do i just say its worth £48k?
many thanks
Onebigjobby Confused:

Your Evoque is worth the £48k if thats what you paid for it & I'd strongly recommend you confirm same to your Insurers as Tim advises above...

Remember that all insurers will replace your car at the original purchase or at it's insured value if it's stolen and unrecovered, providing its on a comprehensive or TPFT policy, also if its new and written off in it's 1st year most insurers will replace it with an equivalently priced model, so don't potentially leave yourself short changed just to save a few quid off your policy!

Quit work - Get some stuff - Go somewhere - Have some fun
(This post was last modified: 16-09-2011 12:26pm by Spiderman.)
16-09-2011 12:25pm
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Onebigjobby
 

Posts: 57
Joined: Aug 2011
Location: cardiff
Post: #5
RE: Insurance, what is my new evoque worth?

Kewl thanks all very informative SmileSmileSmile
Just what I needed
Onebigjobby
16-09-2011 06:32pm
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