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  1. #11
    OpelAus Participant ScottSri's Avatar
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    Do you reckon the insurance premium will go up that much because insurance is the last thing I wanna spend extra money on :/
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  2. #12
    OpelAus Owner poita's Avatar
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    Click here to enlarge Originally Posted by ScottSri Click here to enlarge
    Do you reckon the insurance premium will go up that much because insurance is the last thing I wanna spend extra money on :/
    It will drop as the market value will fall through the floor.

    If you insure for an agreed value it will be a different story, only time will tell I guess.
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  3. #13
    OpelAus Forum Addict JohnBu's Avatar
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    I wouldn't suspect premiums to increase by more than the average car due to Opel pulling out.

    Parts will be available locally for at least 10 years.


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  4. #14
    OpelAus Forum Regular caspers turbo's Avatar
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    Click here to enlarge Originally Posted by poita Click here to enlarge
    It will drop as the market value will fall through the floor.

    If you insure for an agreed value it will be a different story, only time will tell I guess.
    anybody know what the deal with agreed value is?, im insuring mine for 45k agreed-but not sure if this rolls over each year or if the next year you have to go for market value-if anyone knows or works in insurance please respond
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  5. #15
    OpelAus Owner hazrd's Avatar
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    I dont work in insurance, but I can at least provide you with some experience I have had with this.

    I insured my last car for $23k as agreed value when I purchased it. 2 years went by and I found that my policy kept going up. When I contacted them, they said that because my car was an "agreed" value, and was higher than what the car was actually worth in the market, my premium went up. Once I changed it to market value, my premium started to drop.

    Bit of a cop out imo but one of those things where I just rolled with the punches
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  6. #16
    OpelAus Forum Regular caspers turbo's Avatar
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    Thanks Hazrd, i'm not too concerened about the premium going up though-what does worry me is after a couple of years they say no more to an agreed value, or they screw you over if it's stolen or written off and re-neg on the agreed value

    Now that the price has dropped somewhat and market Value is around 35k for an OPC (sourced from car sales) i'd hate to pay my 47.5k have it stolen and then receive 35k, i would be out 12.5k plus what i paid for the insurance, so all up over 13k loss
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  7. #17
    OpelAus Owner poita's Avatar
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    Agreed value is agreed value, it's legally binding and they can't go back on it.

    That why generally you pay more for insurance if the car is in for agreed value not market value
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  8. #18
    OpelAus King Dingaling dutchy's Avatar
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    what poita and hazrd said. Some insurance companies have new for old replacement in the first 2 years or so, then just drop it to market value. it'll lower your insuarnce premium significantly. Besides that, you wouldn't be able to but a new OPC anyways.
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    Click here to enlarge Originally Posted by caspers turbo Click here to enlarge
    anybody know what the deal with agreed value is?, im insuring mine for 45k agreed-but not sure if this rolls over each year or if the next year you have to go for market value-if anyone knows or works in insurance please respond
    I've been told that your agreed value can only be 'market value' +15% after the first year. Hence , purchase price insurance is the safety net.
    Not 100% sure on this though..

  10. #20
    OpelAus Forum Regular caspers turbo's Avatar
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    Thanks for the advice, i guess the best bet is to talk to my insurance company for a definate answer
    Soon to be for sale, 2003 SRiT in silver, 160,000k's, all in all a tidy well maintained car. All reasonable offers considered.Click here to enlarge

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