Agreed Value Insurance

I am trying to sort out the agreed value part of my insurance policy but my new insurance company do not agree with my valuation.

The companies I've used before have agreed (more or less) straight away after sending them photos and details of the restoration and modifications done to it. I value my Series 3 V8 at approx. £4000 although I know its cost me a lot more than that to build and would cost me about the same if I built another one the same today.

My insurance company value it at £2500 the only reference they give for there valuation is one for sale advert in a classic car magazine.

After my Land Rover was involved in a crash a couple of years ago the engineer who assessed the damage to it agreed the value of £4000 in fact he thought it could be worth a bit more. They settled the claim by giving me my Land Rover back and £2500 to repair it. I repaired it to a better condition than it was before the crash.

My insurance company now want an independent valuation of my Land Rover if I want to change the agreed value. Does anyone know who I can get to do this and what will it cost me?

Regards

Liam

Reply to
Liam
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It's called "over-capitalisation".

You POMS are useless for making up your own minds.....always needing hand-holding. Can't you be a MAN & sort it out yourself....!!!???

Yeah I know....a "top-posting"....but who gives a rat's arse.

Ric Norris Brisbane. Australia.

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Reply to
Ric Norris

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^^^^^^^^^^^^How appropriate!

Richard

Reply to
beamendsltd

Such a dignified response from someone no doubt still stinging at the loss of the Ashes, and more likely getting lots of sheeps arse rather than giving a rats arse...

Reply to
Mother

"In memory of Brian {Hamilton Kelly} who logged off 15th September 2005"

Who was he ?

Steve

Reply to
Steve Taylor

An old mate - and (generally) very vell known usenet contributor.

Reply to
Mother

Anyone know what he is on about? I've only asked if anyone knows who can do a independent valuation on my Land Rover, what's that got to do with "making up your own minds", "hand-holding", "be a MAN & sort it out yourself" or "top-posting"?

Liam

Reply to
Liam

He's just throwing his toys out of his pram... Lost the cricket, we fleeced them ewe see, baaaarmy, these Ozzies, couldn't even manage a sheepish grin...

In order to answer your question, you can find people to do valuations acceptable to insurance companies advertising in the back of most Land rover magazines.

Reply to
Mother

Surely unless you are an Aborigine then you are probabally a decendent of the worst of our pommie scum?

You send us your crap soap stars and we'll send qualified tradesmen & women that arent afraid to work to stop your nation falling into despair.

Still, could be worse, you could be a septic!

:¬)

Reply to
PeTe33

Essentially an agreed value is a compromise between what you wold like to get in the event of a total write off or theft and what the insurance company is prepared to pay.

I doubt if anyone has ever managed to get a value that reflects the amount of money put into the project as is shown by the resale values on the second hand market of peoples projects which they have invested time and money in, only to get market price, as it is demand that drives it all in the end.

For my part I have not changed my agreed value, even though I have made modificitions to convert it into a camper, which according to ones perspective could either put its resale value up or down depending on the market one is trying to offload it in.

Reply to
Larry

Essentially an agreed value is a compromise between what you wold like to get in the event of a total write off or theft and what the insurance company is prepared to pay.

I doubt if anyone has ever managed to get a value that reflects the amount of money put into the project as is shown by the resale values on the second hand market of peoples projects which they have invested time and money in, only to get market price, as it is demand that drives it all in the end.

For my part I have not changed my agreed value, even though I have made modificitions to convert it into a camper, which according to ones perspective could either put its resale value up or down depending on the market one is trying to offload it in.

Reply to
Larry

No. An agreed value - upon the insurer accepting an independent evaluation, is what they agree to pay you in the event of a loss.

Reply to
Mother

How many planes does 'Quantas' have? Do they borrow from the Qantas fleet?

Reply to
Craig Welch

Well if we are doing grammar correction I'd point out that you refer to 'Quantas' in the singular in your first sentence, then in the plural in your second.

Reply to
Tim Hobbs

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