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[Wombat]

Good morning,

Ahead of my impending insurance renewal, is anyone please aware if there is a valuation service available through the club, and if so how I go about it?

Many thanks

[g6anz]

I've got mine as an agreed value with Footman James. All they wanted was a set of photos showing its condition and a valuation. At the time I looked on eBay and elsewhere to see what others of the same age and general condition were going for and valued mine accordingly. Every year I increase the value a bit to take account of rising prices.
Footman James are happy with this method, although if you value yours at 30k+ they may ask questions , but for 5-6K they seem ok.

Malcolm

[Worf]

Use the Hagerty insurance tool
http://apps.hagerty.com/ukvaluation/index.html?showBacklink=1

Even if you dont place the insurance with them, I have found that if you argue with your insurance company, they will accept the Hagerty valuation.

[Wittsend]

For lots of reasons the club does not provide a valuation service.

We have no paid professionals.
I can give you a valuation - but it means Jack ***** in the insurance world.

And not least it would open our members to being sued if the insured person didn't get the compensation our member suggested.

As posted ^^^ there are professional valuers out there and you can use an online service.
Bear in mind that we would have to charge for the service - club member or not, just as we do for a vehicle inspection. And then you are in the price range of what professional valuers would charge.

In practice some insurers - Footman James being one will accept the owner's valuation up to £15,000 - you need to provide 6 pictures =  each side, front, back, inside and engine bay.
It also helps to keep abreast of the market. Save adverts for similar looking models yo yours - that's online auctions and dealer prices.
You are insuring to cover the coat of a similar condition replacement - NOT what the vehicle cost you or the amount of money you have spent on it.

From here or at a pub meeting we can give you a price range, but that's about it.
But nothing on paper.

Bear in mind that we would have to charge for the service - club member or not, just as we do for a vehicle inspection. And then you are in the price range of what professional valuers would charge.


 

[Wombat]

Just used Hagerty site and it's given me valuations of:
Fair £10800
Good £17300
Excellent £24600
Concours £40000
Can this be true???

[Worf]

Just used Hagerty site and it's given me valuations of:
Fair £10800
Good £17300
Excellent £24600
Concours £40000
Can this be true???

If that's what they will cover it for, then I wouldn't argue. They value my S1 at £35k. I would be interested to know though what people have actually been paid out on the event of a "total loss" or theft.

[Robin]

Is that for a Dormobile?

Their list doesn't seem to have any options, such as body type.

A Dormobile should be worth quite a bit more than a straightforward 109, I would think   

Robin.

[Ndrwdz]

After I'd finished my restoration I wanted to get the insurance on an Agreed Value basis, which I did - also with Footman James.

As part of that process I got a local independent Land Rover specialist (who had not worked on the vehicle - FJ were firm on that point) to examine it and write a letter on headed paper saying what their opinion of the value was.

Anyway, the point is that the chap who examined it say that the key bit was not the price that you could sell it for, but the budget required to go and source another one in equivalent condition.

Andrew

[Formerlyjeremy]

Its interesting how many adverts for nice classics mention 'valued at £x000' - and then offer the thing for sale for less!

If you want to see what some are asking have a look at https://www.carandclassic.co.uk/ and also the auction RESULTS for the major auction houses like Bonhams.  Also following vehicles on e-bay and seeing what they eventually go for rather than the bids can be useful.

[Wittsend]

... Anyway, the point is that the chap who examined it say that the key bit was not the price that you could sell it for, but the budget required to go and source another one in equivalent condition.

Andrew

As I posted above...

It's the cost to replace with an equivalent model in similar condition...
Takes a bit for folks to understand that.
It's NOT what you paid for it.
It's not what the cost of restoration or repair was.

In the event of total loss it's the cost of replacement.

Our vehicles are well into the classic car world and prices reflect that.