Jimny prices

Wow, 2019, 15000 miles

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Another factor of these crazy prices for current longer term owners...
This trend has seen my insured value diminishing whilst new prices soar, effectively dropping my cover to a severe deficit of true replacement value which we recently set about to rectify.

We noticed that insurance were understandably diminishing the value of the asset each year, but unreasonably so, and had my car insured for R170,000.00 (just GB 8,616.00) though in the South African market like everywhere else, prices are soaring, and I could likely sell it for more than I paid. Hence, if it were in an accident and totalled, I would lose significantly.

After a few mails back and forth, much debate and some reference trade in quotes from dealers we have now insured it at a guaranteed replacement value of R295,000.00 (GBP 14,951.00, still shy of the new Jimnys) when I paid R260,000.00 (GBP 13,177.00) new back in November 2018.

In short, I've just successfully insured my Gen 4 for R35,000.00 or GBP 1,773.00 MORE than I paid for it due to the current very high prices.

I don't know if the insurance industry is different over there than here but, contrary to my expectations, i was told that they would pay out the replacement value I. E. what it would cost to source an equivalent car (model, year, mileage, etc). I was told this by my insurer and another one, up to a maximum of £75k I think it was. This was regardless of the value declared when I took the policy out. Of course, what insurers say before and after a claim may not be quite the same.

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Prices are falling, not massively but
certainly down from the £28,500 offered by WBAC for ours earlier in the year.

Now down to £25,995

Sunday 13 March, called a main Suzuki dealer about price for a 2022 plate.
When one comes in i can have it for £27500. Are they stupid were going into a recession maybe worse. Got to love these scum.

That is not what I have been told, if you declare a value of £10k and pay a premium based on that value and it is really £20k replacement they aren't going to settle for more than the £10k.