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Insurance valuation #664068
24/09/20 10:31 PM
24/09/20 10:31 PM
Joined: Feb 2011
Posts: 29
J
jrd Offline OP
Just Getting Started
jrd  Offline OP
Just Getting Started
J

Joined: Feb 2011
Posts: 29
As part of my annual insurance renewal I have been asked to provide an insurance valuation.
Does anyone know of a contact in the North Yorkshire Dales area who can do this?

Re: Insurance valuation [Re: jrd] #664075
25/09/20 12:57 AM
25/09/20 12:57 AM
Joined: Feb 2020
Posts: 166
Cotswolds
Treesurveyor Offline
L - Learner Plates On
Treesurveyor  Offline
L - Learner Plates On

Joined: Feb 2020
Posts: 166
Cotswolds
I always give my opinion of equivalent replacement. What did they value it at last time? and what if any improvements have been made, added to market de/appreciation over the last 12 months? For my old tintops it's simple replacement value of a few hundred to a few thousand,for the Mog, I wouldn't necessarily drop below purchase price, unless market forces dictate otherwise vs probability of having to sell? They're only ever worth what someone's willing to pay for them in money terms, but always priceless to their keepers!!😁


"DOT" 35th Anniversary Edition Plus 8- family owned from new. Rolls Royce Pewter.
06 Saab 93
Re: Insurance valuation [Re: jrd] #664091
25/09/20 07:25 AM
25/09/20 07:25 AM
Joined: Feb 2016
Posts: 3,077
East Harling, Norfolk UK
Richard Wood Online NoMood
Talk Morgan Addict
Richard Wood  Online NoMood
Talk Morgan Addict

Joined: Feb 2016
Posts: 3,077
East Harling, Norfolk UK
Originally Posted by jrd
As part of my annual insurance renewal I have been asked to provide an insurance valuation.
Does anyone know of a contact in the North Yorkshire Dales area who can do this?

A trip down to see Phil Ledgerwood the other side of the Humber bridge might be the best bet. FWIW my insurers Gott and Wynne, just need the agreed valuation adjusted every two years.


Richard

2018 Roadster - Red/Magnolia - "Morton"
1966 Land Rover series 2a SWB
1960 Velocette Venom
Re: Insurance valuation [Re: Treesurveyor] #664093
25/09/20 07:30 AM
25/09/20 07:30 AM
Joined: Sep 2014
Posts: 1,722
London
MOG 615 Offline
Talk Morgan Enthusiast
MOG 615  Offline
Talk Morgan Enthusiast

Joined: Sep 2014
Posts: 1,722
London
Originally Posted by Treesurveyor
I always give my opinion of equivalent replacement. What did they value it at last time? and what if any improvements have been made, added to market de/appreciation over the last 12 months? For my old tintops it's simple replacement value of a few hundred to a few thousand,for the Mog, I wouldn't necessarily drop below purchase price, unless market forces dictate otherwise vs probability of having to sell? They're only ever worth what someone's willing to pay for them in money terms, but always priceless to their keepers!!😁


The market value and the rebuild cost are quite rapidly diverging.

The market value of my +8 is probably somewhere between £33k to £38k (but as above it all depends upon someone being prepared to pay that) but the rebuild cost (which you can estimate more accurately) is MUCH higher at around £45k if it was to be undertaken by a dealer. I have therefore insured mine at the latter, and got my dealer to note this on the valuation form. It does cost a little more to use that figure, but the peace of mind is worth it to me.


Andy G
1999 +8 , Indigo Blue.
Ex-John McKecknie/Mike Duncan 1955 +4 racer.
Re: Insurance valuation [Re: jrd] #664095
25/09/20 07:40 AM
25/09/20 07:40 AM
Joined: Jul 2019
Posts: 1,295
L
Luddite Offline
Has a lot to Say!
Luddite  Offline
Has a lot to Say!
L

Joined: Jul 2019
Posts: 1,295
I have agreed value insurance with as been typed a re-evaluation required by the insurer every two years. I am not one for reading insurance documents, though I did note that when out of the UK it is possible that some policies drop to the minimum level of cover required by THAT country.... which came as a bit of a shock for one expecting to be covered fully comp with agreed value...?

Also looking at simple repair costs I suspect insurance write off`s may becoming more common..? No facts to back this up, just guessing.

Re: Insurance valuation [Re: jrd] #664114
25/09/20 09:01 AM
25/09/20 09:01 AM
Joined: Sep 2011
Posts: 13,571
Mandello del Lario
Gambalunga Offline
Member of the Inner Circle
Gambalunga  Offline
Member of the Inner Circle

Joined: Sep 2011
Posts: 13,571
Mandello del Lario
Whem my Jag was repaired after it was tail ended by a girl driving a Polo at 70 Km/h It cost nearly €12K to repair. The insurance assessor valued the car at €32K (a bit high in my opinion). When I thought to trade it in on a new Discovery Sport I was offered €20K.

Go figure frown


Peter

[Linked Image]
Re: Insurance valuation [Re: jrd] #664125
25/09/20 10:18 AM
25/09/20 10:18 AM
Joined: Mar 2015
Posts: 97
Billingham
M
mal Offline
Just Getting Started
mal  Offline
Just Getting Started
M

Joined: Mar 2015
Posts: 97
Billingham
Ledgerwood's did my valuation when my roadster went in the it's service and mot in August 😎


Mal

3.0 Roadster 2007

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