The car I bought sells for far less than its trade value, due to the fact that the car is not popular and does not sell easily on the secondhand market. Why do insurance companies insist that it must be insured for full retail value? Why can we not insure it for the full amount we paid for the car? Especially seen in the light that if you have to buy another one it will cost the same.
I feel if you do not owe any finance house a cent on the car, then surely you should be allowed to insure your car for a lesser, more realistic, market related amount?
My car is insured for over R160K, but I paid only R120K for it.
I feel if you do not owe any finance house a cent on the car, then surely you should be allowed to insure your car for a lesser, more realistic, market related amount?
My car is insured for over R160K, but I paid only R120K for it.
