Vehicle manufacture year versus model year

[mike_nofx]

Originally Posted by xisled

The agreed value still is based on the market value of the car. Insurance company will say for example 2010 model car is worth $10000, agreed value can be between $8000 and $12000, you choose how much you want to insure it.

Now that same car that has a 2011 build date is value at $12000. He insurance company say the agreed value of the car can be between $10000 and $14000.

So if the description of the car is wrong then the agreed value can be wrong also.

Originally Posted by xisled

Yes u may have agreed value and paid extra for it, but you have given an incorrect car description.

An example the max agreed value for a 2010 fg xr6 maybe $10000 and the max agreed value for a 2011 fg xr6 is $12000 (same car except year). Figures are made up.

You insure your 2010 model as a 2011 because that what it was advertised as you can get a higher value, but in reality you should have insured it as a 2010 and agreed value would have been lower. Claim times comes, the car in insurance discretion does not match what you actually own and insurance company will base the value on the actual car as you have incorrectly insured the car.

I would highly doubt they would denie a claim on something like this, but it may happen, but hey would pay out on the lower value.

Remember it's you who need to make sure what you tell the insurance company the correct info other wise you risk not getting what you want at claims times.

Oh yes, but I was more meaning with all details of the car being correct, such as model and year. They'd have to pay the agreed amount, even if yours happens to be a worn out example you insured for max agreed value right?