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#1
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Agreed value Insurance policies
Hi Guys & Girls,
Does anyone on here with a D2 S8 have an insurance policy with an agreed value included. As you will see from my signature I have a 2002 S8 FE. Market values for these cars, if a total right off, is well below replacement value. Some of these later D2 S8 are now being advertised between £5 - 6K, with mileage being much higher than my car. My car is also not a daily driver, so I could restrict my annual mileage. I am currently insured with Hasting Direct, who would only cover market value. Auto Trader value the car at circa £1850. I clearly could not replace the vehicle for this some of money, so I am keen to source an insurance company that would acknowledge its true market value. If there are Insurance Companies who are willing to do this, I am sure many forum members would consider moving to an agreed value policy when their insurance comes due. Thanks for any help provided David
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2002 S8 Final Edition, Avus Silver with Red leather interior Guildford, Surrey Tiptronic with Sport mode button. Sony rear entertainment package. Bose sound system. Audi Navigation Plus. 20 inch Final Edition alloys Full Cat Back Stainless Milltek exhaust, giving a great V8 burble : 1997 A8 Quattro Sport - Now sold when S8 FE purchased |
#2
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I'm not certain that an agreed valuation is required. Even though Glasses and others value the car at about £2k this isn't really the market value according the ombudsman (as I well know after mine was damaged). According to the ombudsman market value means "the likely cost to the customer of buying a car as near possibly identical". This would just be a matter of looking for near identical cars for sale, or perhaps recently sold. I was also in the fortunate position of only buying mine a few months before the accident so still had a sales receipt which confirmed the true market value.
I guess that the problem will be with the diminishing numbers of D2 S8s available for sale it's going to be hard to find one near identical.
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Cars... '93 Audi Coupe 2.0 Alpine White (sold) '99 Audi S4 Merlin Purple - K04 upgrade to 412hp (sold) '00 Audi S8 Agate Grey (Sold ) '11 Audi Q7 4.2tdi Unknown Red (Classic Red Pearl Effect - thanks MJ) |
#3
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Did you end up going to the ombudsman because your insurance company only offered to pay out what they though the market value was
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2002 S8 Final Edition, Avus Silver with Red leather interior Guildford, Surrey Tiptronic with Sport mode button. Sony rear entertainment package. Bose sound system. Audi Navigation Plus. 20 inch Final Edition alloys Full Cat Back Stainless Milltek exhaust, giving a great V8 burble : 1997 A8 Quattro Sport - Now sold when S8 FE purchased |
#4
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I went back to the insurers after receiving the engineer's report (basically a desktop valuation), I didn't need to contact the ombudsman but was able to quote them which gave weight to my case, along with adverts for similar cars for sale and my original receipt.
I think that the issue is that the D2 S8 is included as an variant of the A8 in the guides rather than a separate model, so it just gets valued as an A8. Usually they won't use adverts to help value a car "But they may be if the car’s a classic or rare model" which the D2 S8 is. http://www.financial-ombudsman.org.u...valuation.html I just wonder how beneficial an agreed valuation would be, what if the prices increased during the year and the agreed price was too low (could go the other way too though!). I'm also not sure if it would increase the premiums much, maybe someone here has experience of agreed valuations?
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Cars... '93 Audi Coupe 2.0 Alpine White (sold) '99 Audi S4 Merlin Purple - K04 upgrade to 412hp (sold) '00 Audi S8 Agate Grey (Sold ) '11 Audi Q7 4.2tdi Unknown Red (Classic Red Pearl Effect - thanks MJ) |
#5
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For cars of 15 plus years old, I believe you can revalue on a three or four year basis.
Cars over twenty years you can revalue annually. Not sure if this is factual though
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2002 S8 Final Edition, Avus Silver with Red leather interior Guildford, Surrey Tiptronic with Sport mode button. Sony rear entertainment package. Bose sound system. Audi Navigation Plus. 20 inch Final Edition alloys Full Cat Back Stainless Milltek exhaust, giving a great V8 burble : 1997 A8 Quattro Sport - Now sold when S8 FE purchased |
#6
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I tried to get agreed value on mine when I renewed but was told it wasn't valuable enough and needed to be >10K.
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#7
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I struggled to get an agreed value on mine - not old enough for a proper classic policy, nor high value enough
One that would quote was 3 times the price! Garaging is often an issue too.....
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===SOLD===2002 Audi S8 D2 Final Edition (yes, really) in Avus Silver with purple extended leather===SOLD=== 2011 S5 Sportback in Phantom Black with black Super Sports leather, 9x20s, tech pack high, adaptive xenon plus, intelligent key, memory seats pack, sunroof, B&O, Audi Drive Select & quattro Sports Diff, DAB, parking system plus 2015 VW Golf GTI Performance Pack in Carbon Grey with black Vienna leather, tech pack (Discovery Pro nav & Dynaudio), DCC, factory towbar and retrofit RVC |
#8
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Chriss Knot accepted mine valued at 9.5k without quibble, but when I switched to Sky they did ask why is it valued so high. I just told them its LHD and their value is higher in Europe which they accepted.
This may not be relevant to you since my 8 is LHD. But it may be worth trying Chris Knott or Sky they may be more accepting of higher values? Apologies, I think I am talking rubbish I don't think my policy is an 'agreed value policy'. I don't know much about car insurance Last edited by Goran; 28th June 2017 at 10:34 AM. |
#9
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Apparently Adrian S Flux Offer an option to have an agreed value so try asking them
https://www.adrianflux.co.uk/agreed-...car-insurance/
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Confidence is the feeling you have before you know better . . . . Audi A8 D2 3.7 Quattro Sport 1999 FL - Melange 2nd Place Winner - A8-Freunde Annual German Meet 2012 at Edersee 20" x 9" Bentley GTC Wheels with 385mm W12 Front Discs & Bentley Caliper Covers, Front Lowered on Coilovers, Xenons, Combined DRLs and LED Foglights to modified OEM front fog lamp position, Alcantara/Leather, Full Black Alcantara headlining + pillars and blind shelf, Bespoke Flat Bottomed Sports Steering Wheel, Dark Myrtle Wood, Autodim Mirrors, Bose, Blinds, Digital TV, Ski Hatch, Modified rear exhaust section for extra V8 Burble Audi S8 D2 Final Edition 2002, Avus Silver with Red Leather Interior Tiptronic with Sport mode button, Sony rear entertainment package, Bose sound system, Audi Navigation Plus, 20 inch Final Edition alloys, Full Cat Back Stainless Milltek exhaust, giving a great V8 burble Audi A8L D2 4.2 Petrol with LPG - Ebony Black Audi A8L D4 FL 4.0T Petrol twin turbo - Havana Black Audi A2 1.6 FSi Sport - Dolphin Grey with Votex body kit and Red Leather Interior and some other A8's A8L's and Mercs |
#10
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Footman James offer agreed valuation on their "classic" policy - I have my Fiat Coupe on one - but they don't recognise the S8 as a classic, so wouldn't offer it on that - at the moment, anyway...
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Autos Autos everywhere... (1) 2015 Tesla Model S: (was 85D, now 90D ). Silent and deadly, and very fast... But not as fast as Ian's M3P- (2) 2002 D2 S8 Final Edition: Bulletproof and faultless: Brilliant Black with Extended (Red!) Leather. Three-times winner of Best D2 1st prize (3) 1997 Fiat Coupe 20v Turbo: Scots (! ) Green. Fragile, but beautiful. (4) 2010 Fiat Panda 100HP. White Pandamonium (Final Edition!!). Pure old-fashioned 6-speed go-karting. |
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