29-05-2020, 05:52 PM
"Market value" is always a vexed question and open to debate and argument.
With the RH association policy you can insure for what you think your car is worth (not to be confused with market value). That then becomes the maximum amount that RH would ever pay and that assumes that figure does not exceed the market value.
In my personal experience RH seem to be pretty fair about this.
But if you want certainty you need to have an "agreed market value" put on your policy agreed by the insurance company.
Most clubs have a valuation officer who will give an independent valuation when you take out your policy.
For those that need certainty they would be wise to have this redone each year.
Only that makes no discussion and no argument.
With the RH association policy you can insure for what you think your car is worth (not to be confused with market value). That then becomes the maximum amount that RH would ever pay and that assumes that figure does not exceed the market value.
In my personal experience RH seem to be pretty fair about this.
But if you want certainty you need to have an "agreed market value" put on your policy agreed by the insurance company.
Most clubs have a valuation officer who will give an independent valuation when you take out your policy.
For those that need certainty they would be wise to have this redone each year.
Only that makes no discussion and no argument.