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Tax And Insurance Help


Guest greengrass

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Guest greengrass

Can anybody tell me the tax price on 2l zetec zero and does any body have any tips on insurance. Do you enter the price it has cost you to build or the price of a replacement from g.b.s.. Going to be adding the mrs has well ( for return visits from the pub) she is under 30 which seems to be a issue . Any help much appreciated .

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Tax price? Road tax?

Vehicle value for insurance?

You'll probably need an agreed valuation

Our club (Essex Kit Car Club) does valuations for insurance purposes as a service to members

You'll want a representative value for a replacement GBS price for one built by them would seem reasonable however you pay on insurance the higher the replacement costs

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Guest Lowlife

Tax is around £220 per year, I used SureTerm insurance and would suggest value of £25K, as this is what GBS recommend and would charge for a replacement built car.

 

A mate wrote his off recently and GBS are building him a new one but only because it was insured for the higher value.

 

Be cautious with insurance premium cost should not always be the deciding factor, look at the cover in detail. Leave the wife off as this will shoot up the cost etc.

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Road tax on mine, which is a 2L Zetec, was £230 something.

 

Insurance wise, try the specialist such as A-Plan in Newbury or Frank Pickes. Value wise put the total cost to build. I valued mine at £15k. Cost of insurance wise, it will vary based on age, annual mileage, type of cover (parts only etc). I pay £130 per year fully comp 5000 mile limit although it could have been around £95 for parts only cover (they pay for the parts and you do the repair). Lots of options.

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Put whatever price you want (unless you do an agreed value, which to what I can read is a grey area) because it means sod all, unless you have an agreed value you will be awarded market value.

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Guest Lowlife

The question was cost to build or replace!! Cost to replace new from GBS would be £25K, ask them!!

 

GBS will advise value of above to any customer with a new car.

 

If it is bought as a second hand car then I agree, value should be much less. Insure for more and accept lesser offer, you can come down you can't go up in any negotiation.

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Guest Rallyreason

Some insurance policies will allow a "new for Old" policy. However there are usually for fairly new vehicles. 1-2 years old.

 

I had this cover on my EVO X.

 

I guess the advice is find an insurance company that you are comfortable with, can easily talk to and offers the cover you need. Price is not the most important factor, especially when an incident occurs.

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The question was cost to build or replace!! Cost to replace new from GBS would be £25K, ask them!!

 

GBS will advise value of above to any customer with a new car.

 

If it is bought as a second hand car then I agree, value should be much less. Insure for more and accept lesser offer, you can come down you can't go up in any negotiation.

you do not get the man hrs back for building it when you claim its a "hobby" if it was factory built then thats a different story but you still wont get the value of what it cost as a new factory build. current market value is approx 10k downwards. If you write off a tintop you get current market value which is never new price. Agreed value is the only way you will get the money back and i would be suprised if any insurance company valued a zero at 25k =@

When my 2b got cat c i was lucky as i had it agreed value even then they still tried to offer me market value which was at the time a little over what a decent one was selling for...

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Guest mower man

Insurance co's will only pay outmarket value if you think they would pay 25 k on a zero you are livung in a dream world I would think the only time it would be vaguely pos is if it fell of the transporter delivering it ! mower man

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Guest Lowlife

I have mine on agreed value 1 yr old at £22K.

 

Purpose of insurance is reinstate the policy holder to the position they were in prior to the accident. If the car is new (less than 1 yr old) they have to assume the vehicle is as new, therefore new car. Older vehicles come under market value rule.

 

I sold insurance!!!

 

Older car, insure to market value, newer vehicle insure with new replacement in mind.

 

I could have got my insurance for £110, I spent £250 because I wanted the right cover!!!

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Guest merc190provan

I am insured through Adrian Flux with an agreed value of 25k as i have receipts for nearly 22k, last year i paid £600 as i have a lot of points. My renewal came through a few days ago and they have now valued the car at £20,500 and the premium is £480.00 this year, obviously i have lost some points over the last 12 months lowering the premium by quite a bit.

 

Marty Smith

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Guest mower man

I have mine on agreed value 1 yr old at £22K.

 

Purpose of insurance is reinstate the policy holder to the position they were in prior to the accident. If the car is new (less than 1 yr old) they have to assume the vehicle is as new, therefore new car. Older vehicles come under market value rule.

 

I sold insurance!!!

 

Older car, insure to market value, newer vehicle insure with new replacement in mind.

 

I could have got my insurance for £110, I spent £250 because I wanted the right cover!!!

It never happens,the bit about rembursing the policy holder is a pipe dream after 2 write offs I know only too well [ I was not at fault in either and lost several £k in both mowerman :acute:

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I have mine on agreed value 1 yr old at £22K.

 

Purpose of insurance is reinstate the policy holder to the position they were in prior to the accident. If the car is new (less than 1 yr old) they have to assume the vehicle is as new, therefore new car. Older vehicles come under market value rule.

 

I sold insurance!!!

 

Older car, insure to market value, newer vehicle insure with new replacement in mind.

 

I could have got my insurance for £110, I spent £250 because I wanted the right cover!!!

 

Agreed value of £22k for a one year old Zero?

 

Utter b0ll0x, no insurance company would pay that for a second hand Zero.

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