Car insurance on secondhand cars

PetalB

Due to the shortage of new cars coming off the production lines the value of secondhand cars has escalated. 

In the event of car theft or a major accident my insurance company tell me they would value my car using Glass, Auto Car or similar motor publications to get market value at the time of a claim. 

For example, Go Compare value my car at £5000 whereas We Buy Any Car quote the value at £10000.

Where do the public stand in cases like this?  If insurance companies honour inflated secondhand values at present surely insurance premiums will rise. 

BUFF

Afaik, usually it is the liability insurance part that is the major cost to the insurer - the actual value of the insured vehicle is minor (unless we are talking collectable classics, supercars etc.).
My concern would be more likely to be what if you have a crash & they don't put you back in a place to replace with an equivalent vehicle.

Snailwellian

Don't forget that the scam by most car insurers is that if your car is written off you get the book price of the car - this is likely to be the value a dealer would pay for a car NOT  the cost of replacing the car. I had a bad experience where somebody wrote off my car and neither insurer mine or his would pay replacement value. If you want to be covered for replacement value you need to go to a specialist - only one i know is Adrian Flux - must be others tho'.. So the question is do you want cheap car insurance or do you want replacement value.