Agreed valuation help please.

[widster]

Hi. I've just sorted out my insurance with Houghton's and apart from sticking an extra £50 on the price for lowered suspension (when I had that for 7 years previously and they weren't bothered) I'm happy with the quote.

To get an agreed value I have to have someone sign the form to say they think it's worth x amount. Does anyone know where I can get this done near to Leicester? They've said take it to a garage but most garages's wouldn't have about it's value. Can anyone advise me where to go?

Thanks.

[elbon50]

Is yours a Chaucer policy Paul ?

I don't have agreed value but would be interested in finding out more

[l1ca]

I do have the option of agreed on mine. *need to sort that out actually*


What you need to do is contact your company and get an agreed valuation form, you then (in my companies case) write the mods down, send 6 pics and another £15 (ba$tards) and then they agree upon the valuation.

I think its worth doing, Id be distraught if anything happened to mine and they offered me book price, most cars on here are worth double that in added parts alone.

[tonigmr2]

When the MK1 club was bigger and more influential the Chair signed mine - but nowadays there are so many clubs I wouldn't know who to ask. Maybe you ought to look around at some different adverts and supply those, or find a classic car garage/one selling a good condition MK1?

[widster]

Thanks for the replies. I've now has to cancel my olive with Houghton's as they took some details down wrong them wanted another £57 which would have made them uncompetitive. Therefore, I don't have the problem now. I've got to find another company now so I'll see what their rules on agreed valuation are?

One problem I've had with sorting insurance this time is when they ask if my car is modified and I tell them it's had a koni sports suspension kit that's lowered it by 25mm. That seems to scare a lot off or they start to load the premium. When I was with Houghton's before for 7 years they weren't that bothered by this but as I cancelled the policy they had to treat me as a new customer so loaded the premium and put my excess up. Have others had the same problem when their cars have been altered from standard?

[Lauren]

Par for the course paying more when you have modifications the car. You could try Sky but it wouldn't be an agreed value policy. I use them for my AE86.

The way I see it, your car would need to be an exceptional example to warrant an agreed value policy.

[widster]

I can see your point Lauren about the agreed value. Mine isn't perfect by any stretch but I suppose I wouldn't want to be offered say £700 when it would cost me say £1200 to buy a similar example. Like was mentioned earlier the work done to the car comes to several thousand so a measly pay out wouldn't go down too well. If it is offered by the insurance company and isn't too difficult to arrange then it just gives peace of mind.

[Lauren]

I think in the event of a write off, you could expect to claw £1200 back.

I would only say an agree value policy is applicable if you have an exceptional car.

Sure if you can arrange an agreed value policy easily then it's worth doing. I'm guessing though it's turning out to be a PITA.

[oukie]

I didn't have any troubles insuring my mk1 with an agreed value with all mods declared,

I put it at £2k but after I sent a lot of detailed photo's THEY recommended I have the value at £2.5k

I did though, have to take and send a plethora of photo's,

Lauren, you do like to run the vales of these cars down, have you read the most recent copy of autocar? the Mk1 was given a great right up and suggested buyers, get out there now because the values are about to ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Mine is far from mint but there are cars out there that are selling for twice that.

Chris

[Lauren]

I'm just being realistic, Chris, not putting them down. If Autocar suggest that the values are going to rise, then they must do I guess.

MK1's have a disadvantage in that that they have no motorsport pedigree and this does seem to be a significant factor when it comes to cars being worth money as they age. AE86 values don't seem to have gone anywhere and they have all that heritage, so I'm struggling to see how MK1 values will rise in all honesty.

I would say though that they have gone through a period of being worth virtually nothing, so the values won't go down anymore of course. A good MK1 is always going to be worth say £1500 but it will take exceptional cars to command significantly more realistically.

[oukie]

I disagree with your motor sport theory,

For several reasons, the main being

That they are unusual,
Rare sight on the road,
History ie japan's first mid engined sports car,

Plus a good few more

Do you think people buy Rolls Royce cars because of their racing
Heritage, no its because it's the statement the car makes,

Prices have been low for several years now, I know I have
Taken advantage of it several times, but that will and is already changing due to they are not an invite source.

I have owned mk1's for best part of twenty years now and racing
heritage never entered my mind.

[Lauren]

You can disagree, but cars with pedigree in motorsport tends to make them sought after and thus values soar. Look at MK2 Escorts as a an example!

Homolagation specials are also worth money (these are cars that have homologated parts for motorsport), think Ur Quattro, RS Cosworth, E30 M3 etc, so motorsport history is pretty important in a sports car/coupe etc.