ERS insurance via brightside - schedule value clause

Ami01

Unfortunately our car got stolen, and have realised via the usual search engines had gone for the best deal, Brightside (was actually only about 30£ cheaper then next best one) but the car value has come back at min 20,560 but the insurance company ERS is telling me that my policy had a schedule of market value or 17k, now when I searched the insurances on the search engine this is not something I specified and would have gone as a consumer with the assumption that in an unfortunate scenario a regulated insurance company would pay market value unless i specifically go for an agreed price insurance (which this is clearly not as standard car). I have been advised to accept the quote without prejudice but continue to argue based on my disagreement.

Any experience/views here? Really sad as the car was something we hoped to keep for a long time.

Sandtree

Almost all quote and buy systems ask you to value your vehicle; what they do with that number varies greatly. It isnt unheard of for policies to state they will pay the lower of market value or declared value and so you can intentionally undervalue your car in return for reduced premiums but cannot over value it and then write it off and cash in. 

Looking at Brightside’s website they do ask you to value your car but the help text suggests it puts a suggested figure in for some vehicles but if you bought via an aggregator like Confused.com they certainly ask and you certainly have to provide it.

jimbo6977

What do your policy documents specify?
What is the car?
I would take the reduced amount without prejudice, and continue to argue if you want to. 

AdrianC

What does the paperwork you received at the start of the policy say?