Insurance Agreed Value

[Jez Morton]

Just had my new insurance cert through, and they have requested a valuation from an independent and reputable source? plus six recent colour photos, not digital or polaroid. This is for the agreed value clause, I think if I have to go through all this I'll up the value.

 

My problem is, who would have enough experience and be acceptable to the insurers to value a kit car.

Also what happens without the agreed value clause on my insurance do I need it.

 

Jez

[IanS]

The only way I can think of to get an valuation is to ask one of the kit car dealers that advertise in the mags. But I would expect a low valuation from them as this is the price they buy in at.

Other way is to list asking prices (it would be interesting to know the final sale price) of similar cars for sale in the mags but will this be aceptable?

 

My experiance of agreed value is that come a write off the insurance started negotiations at 1/3rd the agreed value and took 14 months to come to a final value that was still short of the agreed value. This was on a modified range rover and they listed all sorts of short comeings to escape the agreed value most of these were very minor or almost non existant or indeed some had been declaired in the proposal.

 

If you dont have an agreed value based on my experiance you are no worse off.

[Big Jim]

I THINK that certain members of our committee can do this, but let's wait for confirmation from Tim on this.

Other places would be kitcar manufacturers, or even Rizla's Dad's place.

Once you think you've found somewhere that will value it around the price that you think is reasonable, then contact your insurers and ask them if a valuation from this source is accepable. When you send your valuation, keep a copy, plus all documentation relating to it, both from / to your insurance co. (I don't trust insurance Co's)

[Guest DanRyalls]

Any further update on whether any of our members can do this, as I need to get the same?

[Guest Tim Norman]

I've done them in the past for members and nothing has come back to haunt me yet.

 

Cheers

Tim

[Guest Pilch]

I have been asked to supply one of these also, this year. (Never been asked before) How do I go about getting one Tim?