Insurance Renewal - Car Value?

_Kaiser_

Afternoon all,

So my insurance is up for renewal this month and the quote arrived from the broker the other day - more or less the same as last year which I suppose is lucky considering the tales of people seeing big increases this year.

The value listed for the car though is far in excess what I'd get for it these days/what it'd cost me to replace it.

Does reducing this in-line with market value every year make any difference to the price or should I just leave it as is?

Cheers

Chris_Heilong

Kaiser2000 wrote: »

Afternoon all,

So my insurance is up for renewal this month and the quote arrived from the broker the other day - more or less the same as last year which I suppose is lucky considering the tales of people seeing big increases this year.

The value listed for the car though is far in excess what I'd get for it these days/what it'd cost me to replace it.

Does reducing this in-line with market value every year make any difference to the price or should I just leave it as is?

Cheers

in the event of your car getting written off, they will tell you what your car is worth, I dont think it matters much.

monkeypants

Chris_Heilong wrote: »

in the event of your car getting written off, they will tell you what your car is worth, I dont think it matters much.

Just don't underinsure.

_Kaiser_

Just to update this one..

Called the broker today and put the question to them and it DOES make a difference apparently (in their case a value of < €15000 puts in in a different band).

Net result.. €50 off the policy.. not too bad Worth doing so!