MK2s finally benefiting from the upturn of modern classic prices?

Discussion and technical advice the SW20 MR2. 3S-GTE, 3S-GE, 3S-FE etc
Anything and everything to do with maintenance, modifications and electrical is in here for the Mk2.

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HighwayStar
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Re: MK2s finally benefiting from the upturn of modern classic prices?

Post by HighwayStar »

Then they'll get sued.

I've put in writing exactly what I want and expect and they have responded in writing confirming it. I'm afraid if you put it in writing it's pretty hard to wriggle. Let's also not forget that Flux are acting here in an intermediate role… they are not the insurers.

Perhaps the only way to satisfy you guys is for the representative of Flux who operates here to step forward and explain….
SonicSW20
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Re: MK2s finally benefiting from the upturn of modern classic prices?

Post by SonicSW20 »

What does it say in your T+C's and on your documents?

Personally I'll never use Flux again for other reasons.
aussieGT
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Re: MK2s finally benefiting from the upturn of modern classic prices?

Post by aussieGT »

HighwayStar wrote:Then they'll get sued.

I've put in writing exactly what I want and expect and they have responded in writing confirming it. I'm afraid if you put it in writing it's pretty hard to wriggle.


Insurance companies have lots of solicitors to defend, they are used to it.

Anyone have any examples of where they had 'agreed value' with an insurance company that then refused to honour the agreement.

It's nice you say you have been insured with the same place for years with no problem, have you made a claim for anything at all? If not of course there's not going to be any problems, they'll happily take your yearly premium until the end of time.
HighwayStar
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Re: MK2s finally benefiting from the upturn of modern classic prices?

Post by HighwayStar »

I honestly can't be bothered to continue this debate beyond saying this….

I don't know or care how anybody else gets on with their insurer. If you can't arrange for a policy that suits you that's really your look out. If you've experienced a claim that went badly then I'm sorry for your loss. I have had a claim many moons ago on the old white rev1 which was handled quite ordinarily and acceptably for the information of whoever asked....

I have set out my understanding of the 'Agreed Value' in a letter which the underwriters have signed and confirmed as acceptable to them as a condition to my taking their policy. If they attempt to wriggle out the Ombudsman would have a field day since I have already clarified with them just what agreed value means and have agreed it in writing prior to commencement.

I'm afraid an army of solicitors do an insurance company no good if you approach them via the insurance Ombudsman rather than a legal 'external' route. Nor do they have any right to appeal a decision made on a complaint by the Ombudsman. The Ombudsman also has the ability to issue hefty fines in cases where they judge a member of their professional bodies has behaved in a misleading or dishonest manner.

I hope of course I never require it but I have done as much as it is possible to do to insure my car correctly and for the correct agreed figure. I have been open and honest and most importantly I have written evidence of my concerns and questions and the responses given by my insurers before I agreed to their proposal for cover. It's therefore rather galling to be told by people who as far as I'm aware are not party to my insurance details just what they think my underwriter will and won't do.

The thread title was all about our beloved 2's and the value the market puts on them as potential classics and collectors cars. Let's not try and just rubbish all that by implying it's not possible to cut a deal for appropriate insurance on them.
gavsdavs
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Re: MK2s finally benefiting from the upturn of modern classic prices?

Post by gavsdavs »

HighwayStar wrote:The thread title was all about our beloved 2's and the value the market puts on them as potential classics and collectors cars. Let's not try and just rubbish all that by implying it's not possible to cut a deal for appropriate insurance on them.

Yes - I don't want this to derail into a squabble about insurance specifics - we do all have different experiences and expectations...SO

Have you not noticed that there are still a stack of owners (out on fabecook mainly) who think they can (or should be able to expect to) pick up a clean turbo for 1.5k ? members of our own community are talking down the values. This is a bit disappointing.

Furthermore, there's still an awful sequence of - car has bump. Insurer looks at it, writes it off. Owner feels a bit dejected about this and starts parting it out, at which point the wolves descend for the rev5 spoiler, the snorkels and the failside kit and the Bomex chin spoiler. Car is picked over and sold off because they're often worth more in parts. When this stops happening, prices will start to firm up, but not until then. (IMO)
CalMac
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Re: MK2s finally benefiting from the upturn of modern classic prices?

Post by CalMac »

I'm with AF too for my cars because they were about £1500 cheaper than the competition. I have car insurance because it's a necessity, but I essentially expect nothing in return if something unfortunate does happen. As long as they cover any other involved parties if I'm at fault then I can live with it!

So if I crash my MR2 then I'll just move on and save for another car. I'd rather not go through the hassle with insurance and if nobody else is involved then just let it go. It would be a shame but sh*t happens and I know better than to trust any insurance companies :eye: Just my 2p
outrun
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Re: MK2s finally benefiting from the upturn of modern classic prices?

Post by outrun »

I am basically with CalMac on this one!

I have mine on a 6k limited miles classic policy, which mirrors my NCB.
£100 p/a. Well, that was when it still had the original Rev 2 Turbo motor, but with wheels, suspension and exhaust declared.

I guess it may go up a bit when I put it back on the road, and inform them of the engine change.
They have always been good to me, though. I have had a few cars covered on this policy (I let it auto renew, too)

Escort RS1600i
mk1.5 MR2
Rev 2 Turbo
and currently a Rev 3 Turbo

They don't even charge admin fees to change vehicles. :D
Rev 2 GT - Forged Rev 3 Conversion
aussieGT
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Re: MK2s finally benefiting from the upturn of modern classic prices?

Post by aussieGT »

HighwayStar wrote:I honestly can't be bothered to continue this debate beyond saying this….



I wasn't looking for a mass-debate, just wanted to know if you had ever made a claim.
CalMac
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Re: MK2s finally benefiting from the upturn of modern classic prices?

Post by CalMac »

aussieGT wrote:
HighwayStar wrote:I honestly can't be bothered to continue this debate beyond saying this….



mass-debate


heh. I see what you did there :lol:
pbmr2
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Re: MK2s finally benefiting from the upturn of modern classic prices?

Post by pbmr2 »

http://www.autotrader.co.uk/classified/ ... 9au&page=2

7k for a rev2 with 109k on the clock, sun roof and cloth interior.

Cool, should mean my car is worth even more as it's 10k less miles, 2 years newer, rev 4 with better spec.

There are some crazy asking prices out there right now. Is the market really moving forward this fast?
markstevieandmads
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Re: MK2s finally benefiting from the upturn of modern classic prices?

Post by markstevieandmads »

You can advertise a car for whatever price you like.....if it sells is a different story lol

I will gurantee £7k for a rev 2 wont sell....if it does i will eat my baseball cap.
HighwayStar
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Re: MK2s finally benefiting from the upturn of modern classic prices?

Post by HighwayStar »

That's without doubt true but let's look forward to the day that is the right price….

We're owners so should be doing all we can to encourage higher prices in my view.
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