Question on Insurance Co's Calculation for Market Value?

[Guest ping911]

Bought my car in Feb 2010 when COE was a bit lower. Time for me to shop for new Insurance. Have a question on insurance company's calculation for Market Value.

My car's market value has probably gone up a bit due to increase in COE. How does insurance calculate the market value? According to a company I spoke to...they calc by getting a few valuers to calc the market value.

Are there different practices by different companies, and which ones the more honest one?

My current options are Chartis (original C&C) or MSIG.

[Guest apple088]

I signed up mine with MSIG. Cost 40% cheaper.

[Guest ping911]

Yes I used MSIG also for my previous car. Meina gives very good prompt service.

But cause the value of COE has almost doubled, I better check properly this time. Anybody has better insight on this topic? Please help.

[Guest ping911]

My quest continues....

Spoke to Customer Service Officer at one company.... could not get clear answer.

Spoke to her Manager, ....could not get clear answer, but he promises that he will get his claims dept to call me and explain the process to me.

So...let's see...

How come there is no transparency as to how market value is calculated.