pauljmcnulty
Active member
My understanding was the agreed value had little bearing on the ultimate value if they had to pay out....but that might just be me being cynical. I do remember being told that somewhere though.
As far as I know, an officially agreed value is a binding agreement. This does, however, put the responsibility for the valuation squarely in the court of the insuree. (is that a word??[&:])
Obviously, if I declared that my pretty average 1986 Lux was worth £25k, they'd have an argument that I had lied my butt off in the hope of a huge payout. If, on the other hand, I get an official Club valuation - free of course [