J_D 2.0
Well-Known Member
- Joined
- Mar 20, 2020
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- Ipswich
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- 2009 VE SSV M6 on LPG and 2022 Kawasaki Z650L
Yeah. Thing is insurance companies expect art and antiques to appreciate in value over the years. Traditionally cars have only ever been a depreciating asset unless you had a hyper rare car kept in a climate controlled garage with zero kilometres on it.Im sure rising prices adds to the issue but its the same with antiques and art etc. Insurance values are generally over the realistic sale price. Watch Antiques Roadshow and they will sometimes give a price for selling, and an insurance value. The insurance value is often 1/4 higher.
Insurance companies are having difficulty adjusting to the current increase in values for used cars. More to the point is they probably just don’t want to adjust to it because it’s not in their best interest.