What happens if there is a value dispute?
All brokers that we contacted confirmed that there would no dispute once an honest valuation had been accepted by both insurer and owner, but it is possible for either party to query any proposed worth beforehand. If you are unhappy with a valuation, provide the insurer with justifying evidence. Even if accepted by the broker, overvaluing a car may not be in the owner’s best interest, because it may inflate the cost of the policy. However, should your agreed value be obtained through misrepresentation, a policy could be invalidated.