As part of my insurance (sureterm)they have suggested that i get a valuation done, so if i need to make a claim, there are no issues regarding the payout.
My question is where can i get a valuation done, bearing in mind it had to be an official document, or should i not bother?

Thanks

Tom

Typically done by an approved club for the marque, manufacturer, or a specialist garage.

Small print in the policy says any valuation, agreed or not can be over ridden by an inspecting engineer assessor, I know, I have done it.

Does that work the other way round as well then?? Surely that's not right - afterall, your insurance premium is calculated based on the valuation of your vehicle.

Phil

They insist you give a honest valuation, if it varies with the assessors valuation, then you have been dishonest and therefore the agreed valuation is null and void.

You must know by now you cannot win with the big boys, they have the world including its governments sewn up.

They have even wangled VAT exemption even though their turnover is millions, but if you are VAT registered, you have to pay the VAT element of the repair and claim it back at the end of your 1/4, this even applies if you are third party to another insurance company!

I understand about not being able to win against them and having governments sewn up etc but going back to the valuation thing, they state that you have to have an independent valuation.

If I'd been paying yearly insurance premiums based on an independent valuation of 10K only to find that when I wrote it off, the assessor valued it at 6K and that was all the insurance company was prepared to pay, I'd be pretty pi$$ed off and ask for a second opinion.

For an agreed valuarion (10K) I had to supply pictures ie close ups of everything plus costs of individual parts used. I must say that the form that I had to fill in was very comprehensive !
No independant examination was required.

Aahh. That may be a different policy. Without an independent written valuation, you actually DON'T have an agreed value policy. Maybe this is where the assessor valuation that Mark is talking about comes into practice.

When we first arranged our insurance policy on the Indy, we had to provide photographs and costs and the insurance premium was based on a valuation figure that we gave them. After having discussions with the insurance company about extending the limited mileage and offsetting the extra cost by reducing the value (which I thought was an agreed value), it became apparent that the policy was not actually 'agreed value' until such time as they had an independent written valuation by a company who had not carried out any work on the vehicle, which we duly provided and hence when we wrote our vehicle off, there was no quibbling and they promptly paid the full 'Agreed Value'.

Phil

[Edited on 1-2-06 by Hellfire]

Thanks for the information. My policy was arranged by Gott and Wynne, Insurance Brokers at LLandudno.Will give them a ring to clarify situation.

We at the club can do letters for insurance companies with a suggested value which can be used with supporting photographs for Locosts.

cheers

Chris

quote:

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Originally posted by MikeLR
For an agreed valuarion (10K) I had to supply pictures ie close ups of everything plus costs of individual parts used. I must say that the form that I had to fill in was very comprehensive !
No independant examination was required.

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Like I said before, it only becomes an agreed value policy when an independent valuation has been submitted in writing to the insurance company. Until such time as they have the letter, they will only pay the current market value which will be determined by the assessor.