Talk Morgan Forums Morgan Sports Cars Morgan Aero 8, 2012< Plus 8, SuperSports, Coupe & Aeromax Agreed Value

My insurers are asking me to either change to market value or supply a new valuation as I renew my insurance.
What value do you think I should ask for, my car was the last of the original chassis Plus 8's and has only done 4000 miles.
Oakmere have suggested 85K but I'm not sure I could replace it like for like for anywhere near that cost.

Worthers +8

This one's £95k

https://www.bellandcolvill.co.uk/usedcars/cardetail/100005298/Morgan/Plus-8

Mind you, I was offered £71k for mine when I enquired about it's value.

I would have thought somewhere between £85k and £95k?

Worthers it is a bit odd at the moment.

The final run of the model and prices that Morgan are asking means there is a bit of a bump in the prices being asked out there. If you feel confident that this is going to stay in place it would seem good to go to a fair market value. As this rises you are protected.

However you might like to ask them what the specific policy offers you - do they supply a car, do they negotiate a price etc and what experience the broker has of them doing this.

If you want to stay with the valuation option then you do need an external proof which is normal for the policies of this type. Oakmere can provide a letter to support this.

In either case my experience (not on the Morgans thank heavens) both situations result in them wanting to negotiate. Given the small stock levels it is worth understanding if they can push you into a car they see as equivalent.

I would ask them to explain what the situation is on replacement as this can change with each policy.

Thanks
I am going to Oakmere now so will ask them to give me a valuation around 100k and also speak to my insurers to decide which is my best option.
Hopefully never to be required!

Worthers +8

They have to give their own opinion. You can discuss it but the idea is that they are independent and provide both parties with a fair value for replacement.