Insurance Question

[Dolby]

When insuring my car, do I get back :

The market value (so, the average cost of getting a new on Autotrader)
The trade value (what a garage gives me if I buy another)

Also - who has a dealer book so that I can get both these figures?

Thanks!

 

[Haldex]

They give you back the book value.
Main reason why you should review your premiums every year.

 

[Dolby]

So I buy a car now at R200,000 .... I owe the bank R180,000.00 (due to my 10% deposit) - and if it's stolen they'll give me like R140,000?


EDIT : And a house and TV? If I buy a house at R1 miilion and it burn down next month - they give the full value? Same with a TV (replacement?)

 

[chrisc]

You will get the market related price, not what you had paid and not including any extras you might have fitted, unless you can prove by means of invoices and photos the extra you fitted. The dealer's red book lists all used car prices for the past 10 years, both trade and retail. You would normally get close to retail of the car is written off or stolen. Replacement insurance only relates to house contents, not cars

 

[Dolby]

Thanks guys.

Any of you have a red book? :/

 

[Haldex]

So I buy a car now at R200,000 .... I owe the bank R180,000.00 (due to my 10% deposit) - and if it's stolen they'll give me like R140,000?


EDIT : And a house and TV? If I buy a house at R1 miilion and it burn down next month - they give the full value? Same with a TV (replacement?)

Something like that, my insurance replaces the cars full value if its under 20 000km.

TV is similar, my TV cost me 13 000 in 2007, it got struck by lighting couple weeks ago, a similar model is now 6000 which they wanted to give me, I complained and managed to get 8000. Still a loss.

 

[Fazda]

Thanks guys.

Any of you have a red book? :/

YES! PM me