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| The Pub For General Automotive Related Talk |
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19-01-2017, 07:47 PM
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FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,940
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Hi, I'm wondering if someone can help me out.
Say I have a car that MY insurance company values at $10k. I spend another $5k doing a few things to it. Ok, so if I have a prang and its my fault and its a write off, then my insurance will cover me for the $10k, and I lose out on the $5k I spent. What happens if someone else is at fault and my car becomes a write off? Will the other driver's insurance go with the value ($10k) that my insurer gave me? Would there be any way to claim back the $5k additionally spent? I'm asking because I'm trying to figure out how important "agreed value" is on a policy. |
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Insurance value question
Threaded Mode