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Insurance Valuation #1652005
15/07/2021 15:33
15/07/2021 15:33
Joined: Jun 2021
Posts: 17
CAERNARFON
J
JohnP Offline OP
club member 1906
JohnP  Offline OP
club member 1906
Newbie
J

Joined: Jun 2021
Posts: 17
CAERNARFON
I'm wondering whether the Forum helps with car valuations as well? My car is insured by NFU but they will not accept an agreed valuation from 2018 so I need a new one from somewhere - thoughts anyone?

Re: Insurance Valuation [Re: JohnP] #1652016
15/07/2021 20:18
15/07/2021 20:18
Joined: Mar 2007
Posts: 16,659
Auld Reekie
Edinburgh Offline
Club President, member225
Edinburgh  Offline
Club President, member225
Forum veteran

Joined: Mar 2007
Posts: 16,659
Auld Reekie
I believe there was some talk about this some years ago - perhaps someone with a better memory can pinpoint it...


BumbleBee carer smile
Re: Insurance Valuation [Re: JohnP] #1652080
20/07/2021 09:56
20/07/2021 09:56
Joined: Dec 2019
Posts: 215
Milton Keynes
KevinW Offline
Club Member 1862
KevinW  Offline
Club Member 1862
Making a profit

Joined: Dec 2019
Posts: 215
Milton Keynes
Change to Footman James. They accepted my 9K valuation no question. NFU asked a load of awkward questions and in the end refused to insure as I had changed the seats to leather ones!


KevinW
Milton Keynes UK
Re: Insurance Valuation [Re: KevinW] #1652091
20/07/2021 16:10
20/07/2021 16:10
Joined: Mar 2007
Posts: 16,659
Auld Reekie
Edinburgh Offline
Club President, member225
Edinburgh  Offline
Club President, member225
Forum veteran

Joined: Mar 2007
Posts: 16,659
Auld Reekie
Originally Posted by KevinW
Change to Footman James. They accepted my 9K valuation no question. NFU asked a load of awkward questions and in the end refused to insure as I had changed the seats to leather ones!


I have done this too


BumbleBee carer smile
Re: Insurance Valuation [Re: JohnP] #1652134
24/07/2021 05:32
24/07/2021 05:32
Joined: Sep 2019
Posts: 11
West Bromwich, Hereford (when ...
S
StupotShazB Offline
Club member 1783
StupotShazB  Offline
Club member 1783
Newbie
S

Joined: Sep 2019
Posts: 11
West Bromwich, Hereford (when ...
Hi folks,

I can confirm Footman James I have Scotty on agreed value for £11k, superb service and value

Re: Insurance Valuation [Re: JohnP] #1652166
25/07/2021 16:08
25/07/2021 16:08
Joined: Jun 2021
Posts: 17
CAERNARFON
J
JohnP Offline OP
club member 1906
JohnP  Offline OP
club member 1906
Newbie
J

Joined: Jun 2021
Posts: 17
CAERNARFON
Looks like I need to change insurers then - thanks for the replies, appreciated.

Re: Insurance Valuation [Re: JohnP] #1659886
28/08/2022 11:13
28/08/2022 11:13
Joined: Jun 2008
Posts: 1,306
Kent, South East
Cooperman Offline
Former Club Membership Secretary
Cooperman  Offline
Former Club Membership Secretary
My job on the forum

Joined: Jun 2008
Posts: 1,306
Kent, South East
Another Footman James vote from me, no hassle on agreed value and reasonable premiums thumb


[Linked Image]
Re: Insurance Valuation [Re: JohnP] #1659887
28/08/2022 11:20
28/08/2022 11:20
Joined: Dec 2005
Posts: 582
Guildford
wink Offline
Club member 1453
wink  Offline
Club member 1453
Enjoying the ride

Joined: Dec 2005
Posts: 582
Guildford
I'm with Adrian Flux - agreed valuation has to be updated annually with photos. Bit boring but I suppose unavoidable.

Re: Insurance Valuation [Re: JohnP] #1659888
28/08/2022 16:32
28/08/2022 16:32
Joined: Dec 2005
Posts: 21,480
Aldershot
PeteP Offline
Hon Club Member 005, Membership Secretary
PeteP  Offline
Hon Club Member 005, Membership Secretary
Forum Fossil

Joined: Dec 2005
Posts: 21,480
Aldershot
Previously the insurance companies the club worked with accepted the requested valuation if validated by a Club board member. This may still be the case if the figure is higher than usual.

I remember doing so for several club members, but with the proviso that I had seen the car in the metal recently to the request.

Most companies no longer ask this of potential customers if their figure is in line with current agreed values of coupes..

Instead they ask for a minimum of 6 photos; front, back, left, right, inside and engine bay, as well as completing their condition report form.

This is normally part of the agreed valuation process and once agreed may remaIn valid for 2 years if you stay with the same company.

Certainly that is how both Hagerty and Lancaster operate, citing those companies with whom we have a club deal.


16VT and X1/9 1500

We must all do our part for the planet.
I unplugged a row of electric cars that nobody was using.
Re: Insurance Valuation [Re: JohnP] #1659891
28/08/2022 20:28
28/08/2022 20:28
Joined: Jul 2022
Posts: 102
Bury St Edmunds
Andrew20V Offline
Club Member 1976
Andrew20V  Offline
Club Member 1976
On a journey

Joined: Jul 2022
Posts: 102
Bury St Edmunds
With insurance valuations in mind can anyone give an indicatictaion of what my car will really be worth for insurance purposes? It's a 1998 20V, N/A, FSH with all receipts & MOT certificates, including original purchase order sheet, 145,000 miles, in excellent condition by time it's had current work completed..

Many thanks.

Andrew

Re: Insurance Valuation [Re: JohnP] #1659894
28/08/2022 22:02
28/08/2022 22:02
Joined: Jun 2008
Posts: 1,306
Kent, South East
Cooperman Offline
Former Club Membership Secretary
Cooperman  Offline
Former Club Membership Secretary
My job on the forum

Joined: Jun 2008
Posts: 1,306
Kent, South East
Hi Andrew, my 20v is currently valued at £7500 on my Footman James policy but mileage is 105k
Ashley


[Linked Image]
Re: Insurance Valuation [Re: JohnP] #1659896
29/08/2022 05:07
29/08/2022 05:07
Joined: Dec 2005
Posts: 33,520
Berlin
barnacle Offline
Club Member 18 - ex-Minister without Portfolio
barnacle  Offline
Club Member 18 - ex-Minister without Portfolio
Forum Demigod

Joined: Dec 2005
Posts: 33,520
Berlin
A point to remember is that the 'value' for insurance purposes is in fact completely pointless. If your car is written off, there are so few vehicles available to replace it that it is effectively irreplaceable - for example, how many one-owner 16v coupes are there out there apart from mine? The second point is that the insurance companies *will not* insure for the costs that would be required to, say, take something average-to-rough and rebuild it to the condition you maintain your own vehicle in.

So you may find yourself with a valuation of ten or fifteen grand on your vehicle, have to replace it through no fault of your own, and find that you come up several grand short when it comes to replacing it.

I've insured my car as a classic for several years - though it's currently uninsured as it's SORNed in storage - and I think when it goes back on the road I'm likely just to talk to one of the mainstream insurers and insure it as a bog standard rusty old Fiat. That way, I can much more cheaply get cover that includes things like three months in Europe (essential for me) and not have a 3,000 mile annual limit. And if it gets broken, well, it gets broken. Tough. After thirty years I'll raise a small glass of Italian wine to it, and then investigate my options.

But I don't think that the 'classic' insurance is necessary any more.


[Linked Image]
Don't get no respect! Coupe Fiat 1994-2000 - an owner's guide <-- clicky!
Re: Insurance Valuation [Re: JohnP] #1659899
29/08/2022 09:17
29/08/2022 09:17
Joined: Mar 2008
Posts: 5,090
highlands
jimboy Offline
Club Member 857
jimboy  Offline
Club Member 857
Forum is my life

Joined: Mar 2008
Posts: 5,090
highlands
I’ve adopted this view as well as Neil. I’ve spent significant amount of money on my Coupe and I realise that if anything happens there’s no way I’m getting anything near as I’ve spent on the car back. Just like Neil, if anything happens I will assess the situation if and when it comes. I’m with Saga including break down RAC, for a very good deal. That is my choice. Makes sense to me.


I'm an old git & happy with it,most of the time
Re: Insurance Valuation [Re: JohnP] #1659906
29/08/2022 18:57
29/08/2022 18:57
Joined: Sep 2009
Posts: 4,994
ation
szkom Offline
Club member 2000
szkom  Offline
Club member 2000
Forum is my job

Joined: Sep 2009
Posts: 4,994
ation
I agree with the above, but for possibly a different reason. And my understanding may well be wrong, but...

If you're in an accident and are at fault, surely that's where the agreed value comes in? It most possibly won't cover all you've spent keeping the car, or replacing like for like. But you'd have an amount that you could do with as you please. You've mitigated your risk to a degree by having the insurance at a value exceeding minimum market values.

If you're not a fault then surely you've got legal recourse to be put back to the same position you started (whether that's financial or otherwise). So if the party at faults insurance couldn't provide an equal replacement then rebuild and repair should be on cards. And if the car isn't salvageable then the above is likely all moot anyhow smile


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