AF deliberately skew the proper valuation of classic cars.

I have an 11 year old Jaguar XK that is some circles is recognised as a classic car. I have been told by a Jaguar Dealer that the car is highly sought after and would sell for between R350 000 and R400 000 within 2 weeks. I asked Alexander Forbes to place the R400 000 value on my insurance policy. AF got a valuation report from TransUnion that placed an estimated retail value of R269 900 on the vehicle with a disclamer that "The values are not insurance settlement values or replacement prices and should not be treated as such". THe report continues to place a Market Place Indicator value on the car of R405 390.43 with the disclaimer "The market place indicator is a guide to media captured or advertised vehicle pricing sourced from verious (sic) online providers and websites. The presented value is not necessarily the final sales price of the vehicle but is meant as an additional price point indicator to assist the enquirer in making a more informed vehicle purchasing decision."

Despite the instruction from TransUnion that the Retail value should not be used for insurance purposes, AF have done exactly that completely ignoring the Market Price Indicator that values the car in excess of what I want it valued at. THey have told me that I must run around getting evaluations from Jaguar and other dealers instead of them actually reading their own report fully and acting on the real market valuation as indicated in their own resourced report.

if you are insured by this company of questionable reputation, do check the proper valuation of your car instead of just accepting their deliberately skewed valuation so they can escape paying you out the proper valuation leaving you without the ability to replace your car.