insurance value

[POH]

Hi, what value do you put down for insurance once your van starts to depreciate IE new value 60k 4 year old or second hand value 50k 4yr
or do you increase the value to take account of price rises , as i increased mine when the prices shot up now renewal time and was wondering is it better to leave as is or reduce.

 

[Just smiffy]

Insurance companies will only give you what they value it at…

 

[ivorantony]

Exactly unless you can show it’s worth more than the average price for similar vehicles,
Backing it up with recent receipt's,

 

[gus-lopez]

Insurance companies will only give you what they value it at…

This^^^^

 

[Lenny HB]

I've always found it doesn't make any odds the insurance price always best to have valued at more than it's worth. In a total loss they are unlikely to payout more than it is insured for.