insurance value>?

[MATTT]

morning all

just insured the car on a classic policy limited mileage and wasnt sure if i under valued it
have to send off 6 photos for the agreed value, i said £2500, was thinking i should have said £3000?

what you think it would cost to replace if the worse happened and it was stolen or written off?

in case ive not posted all the car info already ...
its a 2 owner GTL ,50010 miles all old history and a few old mots to confirm mileage
not welded or repaired underneath anywhere rear chassis is untouched and its just passed the mot ,1 new wing,few small dent repairs and 2 rust repairs plated under grey rubbing strips on one door

full 2 pack respray inc door shuts
interior clean unworn and no rips,headling all clean
3 brand newwheels 4 new dunlop tyres
new brake lines in copper
new clutch
2 balljoints and 2 gaitors
new discs and shoes/new rear wheels cylinders
repainted bumpers
new front indicators
plus lots of little bits ive probably forgotten

phew

matt

 

[malcolm]

I told my Insurance company that Ornella ('65 and repainted, otherwise original) is worth £3500. Though there's very little precedent for restored cars or cars in excellent condition changing hands so it's difficult to work out values.

My GTL would probably sell for £2000 at the moment (indeed I sold it and bought it back a year later for around that), though it could do with a dent repair at the rear and some paint in places. With repairs I'd guess £2,500 to £3000 - it would be worth that to someone who wants to avoid spending more than that restoring their own car. So at a guess I'd say yours would be in that range. Probably £3000 would be a sensible value for insurance.

 

[MATTT]

ok thanks
i was thinking afterwards £2500 was a little low
id better ring them and get it changed and also get the 6 photos sent off or else i will probably get book value.....£800 i bet

 

[jjad]

Do let us know how you get on. Is it for a given, limited mileage?

 

[MATTT]

its limited to 3000 miles,although if you go over you can ring them and pay a little extra

just rang them and changed to £3000,and emailed 6 photos
they will look at the pics and the valuations dept will send me an agreed value certificate when its been agreed by them to be worth that much