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On 7/22/2019 at 12:27 PM, johndglynn said:

I valued a 911 last week that had been insured for £14k

What JG was too polite to mention was that it was mine and he reckoned it was overvalued :lol:

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On 7/27/2019 at 7:39 PM, GaryH said:

What JG was too polite to mention was that it was mine and he reckoned it was overvalued :lol:

:D I don't think I have ever valued your car, but I'm a bit more charitable than that!

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Re-insured in March with Carole Nash whom I have used for the last 5 years. AV £55k, 2,000 miles p.a., £250 excess, premium £279.19. 

The AV was increased this year from £54k to £55k, however there are some lessons learned. The AV was last updated in 2016, but I was told that because it was more than 2 years since it was updated the AV had actually lapsed. So a word to the wise, just because you think that you have an AV, if you don't go through the update process every two years you haven't really.

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Think I’d look for another insurer.

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13 hours ago, njpcarrera32 said:

Re-insured in March with Carole Nash whom I have used for the last 5 years. AV £55k, 2,000 miles p.a., £250 excess, premium £279.19. 

The AV was increased this year from £54k to £55k, however there are some lessons learned. The AV was last updated in 2016, but I was told that because it was more than 2 years since it was updated the AV had actually lapsed. So a word to the wise, just because you think that you have an AV, if you don't go through the update process every two years you haven't really.

Not common practice tbh. Worth checking your wordings but if such a conditions apply, insurers must draw it to your attention at the appropriate renewal that the AV no longer applies unless....

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Locktons is the same, AV valid for 2 years and then you need a new valuation for AV to be in force.

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Updating the AV every two years is pretty standard practice. If values go up you don't want to be paid out 2017 values, do you? Probably half of my agreed valuation clients update every twelve months just to be safe.

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Just had my renewal quote through this morning.

Both 911s on the same policy with Chubb through Lockton.

3.2 AV £46K (all mods declared), SC AV 48K, 3K miles each. Wife included as a named driver, both of us retired, with clean licenses and no claims history, outer London address both garaged overnight.

Exactly the same as last year at £612.40 and they have pointed out I need to update the valuations (or revert to market values) as they are now two years old.

Mark

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On 7/22/2019 at 11:02 AM, Leicestershire said:

£50k value & £1500 miles pa.

£245 with Classic Line.

At renewal the mileage was doubled to 3K miles PA for an extra £10 for the year.

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