Agreed value - your input appreciated

Post by **NafemanNathan** » Wed Apr 03, 2013 11:39 am

Out of interest, how much is it costing you to fix the value? It cost me just £15 extra.

bennyboy · Post by **bennyboy** » Wed Apr 03, 2013 12:23 pm

In the initial conversation, they were saying they could do it for the same price, will report back when all done and dusted though

Post by **NafemanNathan** » Wed Apr 03, 2013 12:28 pm

That sounds positive

Good luck!

skyinsurance · Post by **skyinsurance** » Wed Apr 03, 2013 12:32 pm

Hi,

the agreed values we offer are based on how much the car will sell for, in today's selling market, to a like minded car enthusiast, including any modifications.

The agreed valuation application process is via photographs, MOT certificate and an agreed value form. Supporting documentation can also be provided.

Bare in mind that from an insurance perspective, we cannot 'over-value' a vehicle as it leaves us wide open to fraudulent claims.

Thanks

Ollie
Sky Insurance

Tel: 01707 642552

http://www.skyinsurance.co.uk/car-insurance.html

skyinsurance · Post by **skyinsurance** » Wed Apr 03, 2013 12:34 pm

indigolemon wrote:I think £5k is more than fair, having seen your car in the flesh. It would take more than that to get another lude to the same spec, even assuming you could find a tidy base to work from.

Hi,

the trouble is, this is not how we base our agreed valuations. Eg, I would have to spend £10K to get an Mr2 up to the spec of my current one but my resale value is about £4k, My agreed valuation is therefore £4k.

Thanks

Ollie

http://www.skyinsurance.co.uk/car-insurance.html

A1ex · Post by **A1ex** » Wed Apr 03, 2013 1:19 pm

skyinsurance wrote:
indigolemon wrote:I think £5k is more than fair, having seen your car in the flesh. It would take more than that to get another lude to the same spec, even assuming you could find a tidy base to work from.
Hi,

the trouble is, this is not how we base our agreed valuations. Eg, I would have to spend £10K to get an Mr2 up to the spec of my current one but my resale value is about £4k, My agreed valuation is therefore £4k.

Thanks

Ollie

http://www.skyinsurance.co.uk/car-insurance.html

So, it's a waste of time then as it'll will be based on the price of what's for sale at the time?

Dbo · Post by **Dbo** » Wed Apr 03, 2013 1:24 pm

insurance is only good for a bit of paper to get your tax disc with

just the same as mot only valid till you get of the forecourt

bennyboy · Post by **bennyboy** » Wed Apr 03, 2013 1:25 pm

@A1ex
I think he is saying what it's worth to a like minded enthusiast, rather than the usual auto trader/ebay round up.

@skyinsurance
So you're in a similar situation Ollie, with dare I say it as similar car? (i.e. good condition mid 90's jap, modified/restored?) hopefully meaning my initial value of £5k is a fair one, since the like minded seem to agree?

I spoke to David Pandeka and he has sent me an email with his details, but there's no mention of what photos are required etc. Is it best to deal with you directly via PM as you're on here, (and obviously there's a bunch of photos of my car on here already) or carry on with David?

Many thanks.

Post by **indigolemon** » Wed Apr 03, 2013 1:27 pm

skyinsurance wrote:
indigolemon wrote:I think £5k is more than fair, having seen your car in the flesh. It would take more than that to get another lude to the same spec, even assuming you could find a tidy base to work from.
Hi,

the trouble is, this is not how we base our agreed valuations. Eg, I would have to spend £10K to get an Mr2 up to the spec of my current one but my resale value is about £4k, My agreed valuation is therefore £4k.

Thanks

Ollie

http://www.skyinsurance.co.uk/car-insurance.html

Oh yeah, I get that. What I meant was that given Ben has sunk around £10k into the car, saying it's worth £5k is fair - as if he were to sell it tomorrow that's what an enthusiast who knew what they were getting would be willing to pay. I'm aware £2k car + £7k mods doesn't equate to a £9k sale price, that's why so many well specced cars get broken rather than sold

h10ndr · Post by **h10ndr** » Wed Apr 03, 2013 1:29 pm

Hi, I took Ollie's view when deciding on a market value for my restored BB1. I'm with Sky too.
Mine was a rust free bare shell respray, with no filler used. All dents were professionally corrected before the respray. I have spent thousands on it. Its fitted with H22A7 with LSD and Neptune RTP ecu, Koni's, Eibach's, Neuspeed etc,etc.

I would have liked to set the AGV to £3.5k but, I took the view that, its true market value is what would one of you guys on here, would realistically offer me for it (it's not for sale

). So its set at a low £2 or 2.5k I think (

). This was underwritten without a problem.

(IMO) I dont think most enthusiasts on here would pay £5k for a lude no matter how good it is...just yet anyway. You just dont get your prices for modifications back ever (hence lots of broken up cars for parts). But I do see prices for good cars will only go up, the rust free 4th gen is rare to see now on the roads now. Lets see where they go up to.

Look at the Mk2 CRX's prices ~£3.5-4k for mint original examples. They went sub 1k for a while when the rust bit them all, now the rust free cars go for 3-4k. This will continue to climb over the years to come.