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Post by Phoebe on Nov 2, 2013 14:11:11 GMT 11
My Comprehensive Insurance renewal is due in a few days but they still want to insure it for $51,000, same as last year. That strikes me as ridiculous since you can buy a LEAF new for about $39,000 now. What are others' experiences  |
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Post by Jim Hare on Nov 2, 2013 15:47:08 GMT 11
I think you can call up and agree on a current value. If you don't they will just depreciate by about 10-15%.
If you call them and ask to recalculate to $39k I'm sure they will do it.
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Post by Brian on Nov 2, 2013 21:24:57 GMT 11
My renewal, in July, at ' Market Value ', was $ 399.
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Post by duncan on Nov 2, 2013 21:30:46 GMT 11
man I hope you left some digits off Brian, otherwise the balloon payment is going to hurt  I'm surprised at that price Phoebe, who is your insurer? generally they depreciate cars too quickly not too slowly to make sure you are not over-insured (and therefore tempted...) |
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Post by Phoebe on Nov 3, 2013 8:14:24 GMT 11
It's a GIO Platinum Policy which means I get a brand new car after a total loss. That's great, but it won't cost them $51.500 to get me one. Will call them tomorrow.
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Post by Brian on Nov 3, 2013 17:36:39 GMT 11
Guess you were looking for a rise, Duncan, and you've got it.  That was the cost of the premium, NOT the Market value. ;D If, for the sake of argument, we assume Market value to be $39,900 ( full digits ! ) , then the premium would represent 1%. |
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Post by Jim Hare on Nov 4, 2013 10:19:37 GMT 11
Just let them know the amount you want to insure it for, they'll be fine with it.
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Post by Phoebe on Nov 4, 2013 11:30:44 GMT 11
They weren't fine with it at all. They still have the market value at $51,500 and the car is less than 2 yrs old, so even changing to a standard policy I can't reduce it. Because I drive so little and by getting rid of windscreen and hire car cover, I've got the premium reduced by $240 but it is still covered for $51,500. I can change that next year. If it hadn't taken 2 long phone calls to get this far I probably would have got some other quotes, but, with phone calls being so difficult 'cos I am deaf, I had had enough and took the best they would offer.
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Post by Jim Hare on Nov 4, 2013 12:31:31 GMT 11
That sucks, sounds like it's time for a new insurer!
I suppose this might be Nissan's fault. If they still list the new price at $51k I suppose that's all the insurer can look at.
Maybe if you removed the NEW REPLACEMENT clause and instead went for a cash payout that would have worked.
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Post by Phoebe on Nov 4, 2013 12:33:41 GMT 11
Jim, they won't do that until the car is 2 years old.
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Post by Jim Hare on Nov 5, 2013 19:11:40 GMT 11
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Post by ravolt on Nov 10, 2013 10:59:33 GMT 11
My Insurer covered the current replacement at $40k - upon my word over the phone it would seem. So - if you accidentally wrote off the car at $51k and bought a new LEAF at $40k - would you pocket the difference?
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Post by Phoebe on Nov 10, 2013 11:37:10 GMT 11
My Insurer covered the current replacement at $40k - upon my word over the phone it would seem. So - if you accidentally wrote off the car at $51k and bought a new LEAF at $40k - would you pocket the difference? I hope I never have to find out the answer to this question |
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Post by Jim Hare on Nov 11, 2013 9:43:22 GMT 11
No, Pheobe has replacement insurance so a new LEAF would magically appear in her driveway. I believe this is heart of the problem, the list price for a LEAF is probably still $51k and that's all the insurer can look at to establish premiums. I don't think you are being ripped off Phoebe, I think you were just caught between two worlds of reality. My Insurer covered the current replacement at $40k - upon my word over the phone it would seem. So - if you accidentally wrote off the car at $51k and bought a new LEAF at $40k - would you pocket the difference? |
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Post by Phoebe on Nov 11, 2013 11:04:09 GMT 11
'I don't think you are being ripped off Phoebe, I think you were just caught between two worlds of reality.' Is that supposed to make me feel better, Jim  Tell you what, I'll be finding the REAL REAL world, next year. |
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Post by Jim Hare on Nov 12, 2013 9:05:33 GMT 11
 ;D ;D 'I don't think you are being ripped off Phoebe, I think you were just caught between two worlds of reality.' Is that supposed to make me feel better, Jim Tell you what, I'll be finding the REAL REAL world, next year.
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Tell you what, I'll be finding the REAL REAL world, next year.