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Author: Subject: How do you value your car for insurance?
franky

posted on 21/6/11 at 09:00 AM Reply With Quote
How do you value your car for insurance?

I'm 95% done now

I've got some insurance but not sure how much to insure it for, it doesn't seem to have much effect on the premium however I would like to get paid the full amount if its all goes wrong.

Is an agreed value just that or would independent type put a value on it?

How do people value their cars? Cost of bits? Bits and time?

Sorry for a whole load of questions.

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DaveFJ

posted on 21/6/11 at 09:55 AM Reply With Quote
I have an agreed value of £10k which is roughly what it cost me to build although the resale value would probably be little better than half that. I have to send 6 up to date photos each year and pay a £10 fee but I get the agreed value without question. Not absolutely sure how far they go with it and am sure i would have an argument if i tried to claim but for £10 i think it's worth it.....







Dave

"In Support of Help the Heroes" - Always

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cliftyhanger

posted on 21/6/11 at 12:47 PM Reply With Quote
Best to ask the company how they want it valued.
I know with some classic policies (and I expect kits to be broadly the same ) the values are based on how much it would cost to get a car of a similar standard and specification. That often involves buying a car and carrying out changes, often rather expensive.

However, the companies like some paperwork to back up your value, so keep receipts, specifications and so on.

Sadly modern cars are not usually covered in the same way.

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