car insurance - do you enter the market value of your car or what you paid for it?

[joko]

my car is apparently worth about £4,500...but i only paid £1,600...what should i put on the insurance quotes when it asks for the cars worth?

thanks

[R1Geezer]

No it does not matter but you have asked this twice and got the correct answer twice so forgive me for thinking that you are trying to tell us all how well you have done to "steal" a car worth £4500 for £1600. Not many cars with 160000 on the clock are worth that so I was just curious as to what it actually was.

[joko]

mmm..yeh geezer...i was clearly 'bragging'...a year apart...woohoo go me...

the estimate is the market value given from various sources and also the one their system automatically inputted

i couldnt give a rats @rse about cars an their value...just need to know what to put...

i would also add the answers seem to vary too...

[quicksquid]

No matter what you say, the insurance will only pay out the average book price.
Run through quotes on comparison websites to on £500, £1000, £1500 and so on and see what price gives you the best quote.
If a car is too cheap, some insurers won't quote or increase their quote. If Its too xpensive the same will apply.

http://www.squidoo.com/tips-4-car-insurance

[ummmm]

With 160,000 on the clock...£1,600 doesn't sound like a good price to pay.