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
:
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
going by pistons heads 10% markup
(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 :
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!
Kewl thanks all very informative
Just what I needed
Onebigjobby