I renewed my insurance on my car in May. Basically its insured for 7.5k when its only worth (as in a resale) value of about 4.5k. Is it possible for me to get my insurance re-assessed mid year for this?
Worth a shot but I doubt you'll recieve any refund. Premiums for private cars are based on make, model, engine size and year. Unless the car is of a very high value (50k plus) the value that is placed on it won't matter.
Commercial vehicle premiums are based on value aswell as make, model etc so the value does affect the premium.
well anychange in on your policy etc, ie if u get full licence, change address etc, all effect the premium amount, im guessing value is the same, although check the small print some companies dont change mid year, i know quinn do and can give refund or reduce monthly payments.
It wont make a difference,you'd actually find if you quoted the cost of the car as 5k or 25k you'd still get the same premium price.
In the event of a claim the insurers will only pay the market/book value of your car,so if the market price was 4.5k you would probably be doing well getting that from them.