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  #1  
Old 17-10-2015, 10:38 PM
clapshot clapshot is offline
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Default Insurance (agreed valuation)

Hello

Do any of you have an agreed valuation with your insurance company?

I thought I did but when I came to add a second car onto my policy it turns out that I don't and also none of the modifications are covered, something else I thought I had.

If any of you do have an agreed valuation on your car who are you insured through? Also what do you do about the valuation? Values have gone up quite a bit but they seem to mainly have gone up for standard and low mile cars. My car has 66k miles so it's still not high but it has been resprayed another colour, running different wheels, carbon airbox, different exhaust and lowered on kW v3 so no longer standard so I have no idea what the market value or what I should ask the insurance company to value the car at. Any help/thoughts welcomed!

Cheers
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  #2  
Old 18-10-2015, 09:11 AM
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fok fok is offline
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Mine is very modified and I've got agreed value with Competition Car Insurance even with the different engine and box.

You also get six track days FOC and can pay for more if you want.

It's not cheap at £500 but all mods are declared and above board.
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  #3  
Old 18-10-2015, 09:25 AM
mnbrennan mnbrennan is offline
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I'm with Manning UK with agreed valuation. Only problem is I need the car valued by a specialist. Anyone know where I could get this done?
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Old 18-10-2015, 09:35 AM
chagac chagac is offline
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Quote:
Originally Posted by clapshot View Post
Hello

Do any of you have an agreed valuation with your insurance company?

I thought I did but when I came to add a second car onto my policy it turns out that I don't and also none of the modifications are covered, something else I thought I had.

If any of you do have an agreed valuation on your car who are you insured through? Also what do you do about the valuation? Values have gone up quite a bit but they seem to mainly have gone up for standard and low mile cars. My car has 66k miles so it's still not high but it has been resprayed another colour, running different wheels, carbon airbox, different exhaust and lowered on kW v3 so no longer standard so I have no idea what the market value or what I should ask the insurance company to value the car at. Any help/thoughts welcomed!

Cheers
I have an agreed valuation with Classic Line, but the car is standard so possibly a little easier to value. To start discussing values on this post will no doubt start a lengthy in-depth debate, but with only 66k miles you must be looking at around the high teens mark, subject to condition of course. I would chance my arm though and ask them for a higher figure, worst case they say no and you agree lower!

I guess you also need to factor in that although the car modifications may have a negative impact on the re-sale price as the demand for stock cars are higher, you still need to factor in the replacement cost of all those nice shinny upgraded parts you've picked up along the way!

I should add that for my agreed valuation it was easy as I'd only just bought the car (18 months ago) so simply sent them the dealers invoice and said it must be worth "X" because that is what I paid for it!!! If you've had the car a while and its appreciated in value since purchase then its a little more difficult. A third party inspection will help, but the Insurance Company may only ask for photos and car details for their valuation team to review.

Last edited by chagac; 18-10-2015 at 09:39 AM.
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Old 18-10-2015, 01:32 PM
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Dave P Dave P is offline
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I don't think you could get another M Coupe with 66k for high teens as mentioned so I would be looking at a much higher agreed value figure, as said try Classic Line
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  #6  
Old 19-10-2015, 09:40 AM
clapshot clapshot is offline
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Thanks for the replies and peoples insight. I know valuation is a difficult subject and it appears to be even more so at the minute, partly why i'm questioning it.

The car is pretty much immaculate, a couple of stone chips but other than that it's spotless. Forgot to say it's an S50 too. I was thinking higher than late teens based on some sales figures seen at auctions in the last 6 or so which have been very how however I know the respray in a different colour isn't too everyones taste. I've tried to add a pic to show the car but not sure if I managed!

Anyway, i'll try those insurance companies listed when my renewal is due and hopefully get it sorted.
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  #7  
Old 19-10-2015, 09:52 AM
guido guido is offline
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Your car looks familiar, isn't there a build thread on the forum?

MISSILE as reg plate?

Here: http://www.z3mcoupe.com/forum/showth...hlight=missIle

Last edited by guido; 19-10-2015 at 09:55 AM.
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  #8  
Old 19-10-2015, 01:06 PM
clapshot clapshot is offline
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Yeah that's the car. I bought it about nearly 4 years ago now. Not changed much except for front number plate location and put H&R anti roll bars on it.
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  #9  
Old 20-10-2015, 11:26 AM
Fat Tony Fat Tony is offline
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Classicline didn't quibble over agreed value of £25k on my '99 S50 with 67k miles on the clock.

With the mods (ACS kit) being factory/dealer options, they didn't class them as mods.

I'm the 6th owner and I'd say it was in good condition, but it's not an original spec low mileage garage queen
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2000 S50 Titanium Silver / Black
ACS Suspension, Exhaust & Type III Wheels
Simota carbon air intake | Strong Strut Front Brace
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  #10  
Old 20-10-2015, 06:51 PM
clapshot clapshot is offline
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Sounds good Tony.

I don't suppose you have your car insured on a multicar policy as well do you? I have a wee clio trophy to get me about which I tried to add to my current policy but they couldn't. By asking this it's how I managed to find out about my insurance not being what I thought it was!
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