Value of new model for insurance ?

With second hand cars going for £ 25 000 it seems ,Does anyone know where we stand if stolen or written off. When I insured last year the value was about £ 20 000 new . L V wanted to put down a bit less via their information , Would they say a last years car is now say £16 K because of depreciation if total loss. ?

[Hi,
That's a very good question.
I guess their only (reluctant) obligation would be to give you the value its insured for, and if that's 16K that's what you will get.

The only way to remove the guess work is to ask your insurance company the same question.

With my classic cars the policy is agreed value and vehicle retention in the event of a claim, but it's all agreed upfront so no surprises.

Mike

They should pay what it would cost to replace it with an equivalent, but only if you've insured it for that value as a minimum. See what a similar one is being offered for on Autotrader and put that value on the form. Don't leave it at the "calculated" figure on the form, cos that's the max you'll get. I had several discussions with insurance companies when I renewed and that was their advice.

There are some silly prices being asked but if you look carefully you can find them at more reasonable prices, although still over list.

There was a cream coloured SZ5 on Auto Trader yesterday for £20,500 ono and l’ve found a yellow one at £21,000 from a dealer that looks like the one for us.