john_p_b
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| posted on 5/9/05 at 07:50 PM |
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agreed value for insurance
got my cover note etc through today!
they want a few bits back from me though, copies of license, photos of the car etc. there's also a agreed valuation form that i need to fill out
stating what the car is worth etc.......
basicly it's a pinto engined indy, MK seats and interior panels, GTS dash, VDO guage set, alloys all the usual stuff really.
i'm looking at trying to get 6k agreed value on it. am i being realistic? it's cost me just under 5k to build it and that's shopping
around a bit for parts, ebay etc.
your opinions please 
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Hellfire
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| posted on 5/9/05 at 08:02 PM |
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Get in touch with MK for a valuation. I'm sure they'll be willing to provide one for you. 
6K sounds more than reasonable enough to me. Just remember though, that the valuation is reflected in the insurance premium - the higher the
valuation, the greater the premium will be. 
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john_p_b
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| posted on 5/9/05 at 08:16 PM |
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well this is why i'm thinking of 6k, when i was getting the quote for the policy they asked what the value was and then i said 6k so i'm
guessing thats already what the premium is based upon.
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Hellfire
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| posted on 5/9/05 at 08:19 PM |
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Yeah it will be. Give Charlie at MK a ring.
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DarrenW
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| posted on 6/9/05 at 12:10 PM |
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For agreed valuation i think id be more pempted to work out what the full retail is on the bits and make an allowance for possible professional help
you might want to get back on the road quickly - eg buying rolling chassis.
I doubt if a lot of the bits you got cheaper would be available again if you wanted to get back on the road in reasonable time. Also consider what it
would cost you to either buy a second hand car of the same pedigree / quality or indeed cost to have one built for you.
Fair point the more expensive valuation might push premiuims up but for the sake of a few quid it is surely better to have good cover. Ill bet the
insurance company will make anual deductions to allow for depreciation as well. In reality your car might not devalue by that rate, especially if it
was cheap to start with. My guess would be that a reasonable valuation dependant on final spec would be more like in the 7K - 9K range.
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john_p_b
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| posted on 6/9/05 at 05:13 PM |
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weather permiting weekend after next i'll get some windproof clothing on and have a drive up providing nowt falls off in the meantime!
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john_p_b
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| posted on 6/9/05 at 05:18 PM |
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might make it one after that then!
tis my birthday that weekend so you can have a cake with candles ready for when i arrive
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