Value of a 2008 VW Passat 1.4 TSI

tmh106

Hello.

For motor insurance quote purposes I'm trying to put a value on our family car. It is a 2008 VW Passat 1.4 TSI (petrol). On the insurance quote I've put it's value as €5,000. Does this seem OK? Too high? Too low?

Thanks.

Zubeneschamali

tmh106 wrote: »

Hello.

For motor insurance quote purposes I'm trying to put a value on our family car. It is a 2008 VW Passat 1.4 TSI (petrol). On the insurance quote I've put it's value as €5,000. Does this seem OK? Too high? Too low?

Thanks.

The ROS VRT website reckons its worth €2500.

Cee-Jay-Cee

tmh106 wrote: »

Hello.

For motor insurance quote purposes I'm trying to put a value on our family car. It is a 2008 VW Passat 1.4 TSI (petrol). On the insurance quote I've put it's value as €5,000. Does this seem OK? Too high? Too low?

Thanks.

Too high. I would have thought in between €3 and €4K depending on mileage/spec/condition.

Gravelly

Once your car value goes below around €6k, most insurers load your premium.

On a totally unrelated note, if I had that Passat, I'd be valuing it at around.......hmmmmm.....let me see.....€6,500 or so.....

punisher5112

For insurance even if you put value at 10k they would only pay out real value.

Worth trying as above they load when under a certain value.

Gravelly

punisher5112 wrote: »

For insurance even if you put value at 10k they would only pay out real value.

Worth trying as above they load when under a certain value.

Exactly - so there is no harm in being somewhat optomistic with the value of a low value car.

martyc5674

Gravelly wrote: »

Once your car value goes below around €6k, most insurers load your premium.

On a totally unrelated note, if I had that Passat, I'd be valuing it at around.......hmmmmm.....let me see.....€6,500 or so.....

Interesting if true... what’s the logic do u know?

My brother worked in car insurance albeit a good few years back. He said once your car was valued under 50k(or some high figure anyway) that car value had no impact on policy price.
Marty.

Gravelly

martyc5674 wrote: »

Interesting if true... what’s the logic do u know?

My brother worked in car insurance albeit a good few years back. He said once your car was valued under 50k(or some high figure anyway) that car value had no impact on policy price.
Marty.

I've been told several reasons:

1. Scammers using low-value cars in staged accidents means they are seen as a higher liability
   
2. Low value cars tend to fare worse in accidents
   
3. The evil insurance companies are in league with the evil car manufacturers / sellers to force you to buy a newer car.

It's probably just another in the long line of reasons insurance companies fück you over.

bazz26

I'd imagine they probably think someone with a low value car has less to loose if it were written off so might be a bit more careless on the road as a result.

martyc5674

Gravelly wrote: »

I've been told several reasons:

1. Scammers using low-value cars in staged accidents means they are seen as a higher liability
   
2. Low value cars tend to fare worse in accidents
   
3. The evil insurance companies are in league with the evil car manufacturers / sellers to force you to buy a newer car.

It's probably just another in the long line of reasons insurance companies fück you over.

Yeah sounds about right... I’d have thought though they would glean that info from say the VRT site or some other valuator site rather than take the punters value.
I’ll try 6500 next time round!

Gravelly

martyc5674 wrote: »

Yeah sounds about right... I’d have thought though they would glean that info from say the VRT site or some other valuator site rather than take the punters value.
I’ll try 6500 next time round!

Me too, but apparently they take your word for it!

tcawley29

Not sure was it 11k or 12k that was the magic number whenever I got a quote off liberty

hunter701

Gravelly wrote: »

Exactly - so there is no harm in being somewhat optomistic with the value of a low value car.

Try liberty insurance for a quote can all be done online i bought 3rd party fire and theft for my 2008 VW jetta 1.4tsi 122bhp i put my parents mum n dad on policy who have loads of experience and myself only 2 years on the road and came in at €1450 and my car value was €3800.