- Joined
- Oct 13, 2013
- Posts
- 15,360
Thinking aloud:
NRMA has a 2 year new for old comprehensive CI . If you write off the car they give you a new one - as close to spec as possible. Or if they can’t the agreed value or market value.
Here is the thing.
Agreed value is more expensive than market value because AV is the declared value at the start of the 12 months insurance but MV is the value at the time of the write off which may differ (usually negatively) significantly from AV.
But if the specific car is still in production why not go MV and pay significantly less knowing the new for old offer still stands.
Apparently when such claims are handled they look at the purchase invoice to see exactly what car it is.
NRMA has a 2 year new for old comprehensive CI . If you write off the car they give you a new one - as close to spec as possible. Or if they can’t the agreed value or market value.
Here is the thing.
Agreed value is more expensive than market value because AV is the declared value at the start of the 12 months insurance but MV is the value at the time of the write off which may differ (usually negatively) significantly from AV.
But if the specific car is still in production why not go MV and pay significantly less knowing the new for old offer still stands.
Apparently when such claims are handled they look at the purchase invoice to see exactly what car it is.