Car insurance value
Discussion
Suppose it depends what you want from your insurance.
When I wrote my M off I had agreed value and had no intention of the car being scrapped.
I thought I hade it covered adequately but I've spent a lot more to get it back ( although I have done more than was necessary just to get it back up and running).
When I wrote my M off I had agreed value and had no intention of the car being scrapped.
I thought I hade it covered adequately but I've spent a lot more to get it back ( although I have done more than was necessary just to get it back up and running).
GAjon said:
Suppose it depends what you want from your insurance.
When I wrote my M off I had agreed value and had no intention of the car being scrapped.
I thought I hade it covered adequately but I've spent a lot more to get it back ( although I have done more than was necessary just to get it back up and running).
Very true, that's to why the question as I don't know the answer.When I wrote my M off I had agreed value and had no intention of the car being scrapped.
I thought I hade it covered adequately but I've spent a lot more to get it back ( although I have done more than was necessary just to get it back up and running).
Just hoping other's can tell me what they think its generally worth so I can amend the insurance.
Not sure if someone's like Adrian Venn or maybe the TVRCC would be able to provide you with a valuation that would be acceptable to your insurers?
I suppose you can put whatever value you want in it and just pay the premium, but, my experience with insurers is they will try to get away with paying out as little as possible anyway.
I suppose you can put whatever value you want in it and just pay the premium, but, my experience with insurers is they will try to get away with paying out as little as possible anyway.
I see no reason why the TVR Club can't give a valuation certificate like with Club Lotus. Who will support you if you have an accident. Imho that is one of the reasons for being in a dedicated car club. With a car club behind you i can't see that any Insurance company can question the value.
Alan
Alan
Hi Stevo302,
Your agreed valuation figure sounds very conservative. I can't remember seeing a Vixen being advertised for £12,000 unless it was a restoration project. If you're going to the trouble of getting agreed valuation, it should be for a realistic figure - I would think that a Vixen in reasonable condition has to be worth at least £15K.....that's if you can find one at all.
Cheers
Marc
Your agreed valuation figure sounds very conservative. I can't remember seeing a Vixen being advertised for £12,000 unless it was a restoration project. If you're going to the trouble of getting agreed valuation, it should be for a realistic figure - I would think that a Vixen in reasonable condition has to be worth at least £15K.....that's if you can find one at all.
Cheers
Marc
Try to get the highest value you can.
It's very easy to justify a £25K agreed value for a Vixen based on those that have been for sale over the last 18 months. None of them have been in the category of being fresh fully restored examples from memory, so a well maintained presentable car should be this kind of value for insurance purposes.
I have negotiated a very strong agreed value for our V8M, with a very good company, and its based upon what it would cost to replace today built by others. Not what a 3000M is valued at on todays market.
It's very easy to justify a £25K agreed value for a Vixen based on those that have been for sale over the last 18 months. None of them have been in the category of being fresh fully restored examples from memory, so a well maintained presentable car should be this kind of value for insurance purposes.
I have negotiated a very strong agreed value for our V8M, with a very good company, and its based upon what it would cost to replace today built by others. Not what a 3000M is valued at on todays market.
That one on car and classic is now sold apparently, Vixen values seem very good right now. Rightfully so though, there aren't many around and although the 2500 is not the most desirable it is probably the rarest. I wouldn't sell mine for less than 20k, it may not be worth that but it is to me! Just don't leave yourself underinsured, with classic values going up considerably over the last few years it's easy to do, my Interceptor was insured for only 6k up until recently, which is what I bought it for 8 years ago....scary what good ones go for now.
Cheers
Joe
Cheers
Joe
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