Howdens "Forecourt value" endorsement

[mellow yellow]

Howdens Thatcham & Evesham advised they would be insure the van as a day van or van in conversion but on "Forecourt Value" (not Agreed Value) with Markerstudy as it's used daily and up to 10k miles. The manager said if the worst happens then the insurer/Howdens (I'm not sure) call their 'forceourt dealer' to confirm cost of a replacement vehicle i.e. similar year, mileage, modifications etc and that cost is the settlement amount in th event of a claim i.e. if the van was £70k and mods were 10k, then insurer would pay out £80k

Howdens said as T6.1s aren't made anymore, it'll probably costs more £££'s to replace than my declared value, and so Forecourt value is better than agreed value, as under Agreed value it could pay out less than it costs to replace thevan with mods etc.

I was advised to keep details of similar vehicles, mileage, condition etc just in case the orse should happen. Does this sound like market value policy and with needing evidence of replacement van values, in order to assert replacement value in the event of a claim....

I don't know enough about the differences to know if Forecourt value is better than agreed value. I'm not buying the van for an appreciable asset. Just to be able to replace the van should the worst happen

Just Kampers (Aegas with Trinity bolt on Agreed Value) with all mods declared is £635 inc Agreed Value and £750 excess reduced to £250 with excess protection. My van won't be a camper van, only plan to fit fold out bed, a fixed table, fit swivel seats, fully carpet and insulate.

Howdens is £740 with 'Forecort value' and £1000 reduced to £500 excess with excess protection.

Anyone else have a Howden Insurance policy with/experience of "Forecourt Valuation"??

 

[Dellmassive]

It's this with the Thatcham Branch?

They are the camper van specialists.

 

[mellow yellow]

It's this with the Thatcham Branch?

They are the camper van specialists.

I'd spoken to Evesham branch in May for a quote.
Then spoke to Thatcham Branch as theyre the campervan specialists and was referred to KGM as I'd asked re: DRV & parking on road in the day when having works done on the house, then told Evesham branch would call me back as my initial quote was with them.

Anyone else have a Howden Insurance policy with/experience of "Forecourt Valuation"??

 

[Cog Head]

Agreed value is the safety net should the worse happen.
Forecourt value will be “trade” value, most likely £5k - £10k less than Joe Public value

I’m with just kampers, they’ve been great, they actually talked me out of declaring the tracker as the subscription costs £150, the reduction in policy was £80.
They applied a pretty good discount if I used a steering lock too.

 

[mellow yellow]

Agreed value is the safety net should the worse happen.
Forecourt value will be “trade” value, most likely £5k - £10k less than Joe Public value

I’m with just kampers, they’ve been great, they actually talked me out of declaring the tracker as the subscription costs £150, the reduction in policy was £80.
They applied a pretty good discount if I used a steering lock too.

Thank you, thats really helpful mate as I was on the fence about what to do re: forecourt value and just want to get insurance in place, so I'll be calling Adrian Flux and Just Kampers today.

Bonza fella, thank you muchly !

 

[Bigsidavies]

Agreed value is the safety net should the worse happen.
Forecourt value will be “trade” value, most likely £5k - £10k less than Joe Public value

I’m with just kampers, they’ve been great, they actually talked me out of declaring the tracker as the subscription costs £150, the reduction in policy was £80.
They applied a pretty good discount if I used a steering lock too.

Out of interest how do you know that forecourt value is trade value? The initial comment from OP implies that it was explained as the forecourt value of a replacement vehicle.

 

[Cog Head]

From my dad’s experience with a bike that someone decided to side swipe.

Also, leisure vehicles values go up and down with the seasons, if you have to claim in summer, great, it will likely be worth more, not so much in the winter.

I’ve always ensured everything to written down in text, that’s the only thing that stands up in the eyes of the law.

 

[Bigsidavies]

From my dad’s experience with a bike that someone decided to side swipe.

Also, leisure vehicles values go up and down with the seasons, if you have to claim in summer, great, it will likely be worth more, not so much in the winter.

I’ve always ensured everything to written down in text, that’s the only thing that stands up in the eyes of the law.

I guess the OP needs to ask the insurance company what exactly forecourt value means.
But if your van gets written off when replacements are cheaper in winter then you can still buy an equivalent van if you get the forecourt price, unless you wait until summer when they go back up in price.

 

[mellow yellow]

I guess the OP needs to ask the insurance company what exactly forecourt value means.
But if your van gets written off when replacements are cheaper in winter then you can still buy an equivalent van if you get the forecourt price, unless you wait until summer when they go back up in price.

Howdens just told me what I posted to earlier. It did sound like market value and seemed very much up for negotiation and needing evidence, to cost up for replacement van with modifications etc.

I'm not so keen on this grey area and prefer some certainty etc and will be putting bearlock, disclock, pedal lock and Thatcham s5 on too lol. I will go for an agreed value and get my first year out of the way, then can spend more time looking around and with a year's insurance under my belt, it should (fingers crossed) be easier to get insurance ha ha