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Post by headcoats on Jan 31, 2017 10:54:52 GMT 1
I have had the same agreed value with my insurance ever since I got the LC on the road around 2009 which is £4500
Now several years on I feel I need to update it , but need an honest opinion on it's current value
Will I need an independent valuation done ?  Now if it's worth a lot then I can get a Thruxton R LOL |
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Post by tout on Jan 31, 2017 12:24:30 GMT 1
If you feel you need to update it then you have answered it yourself, do the same sums and equations similar to 2009 and up pops the figure you feel sufficient.
More important tho on a serious note is declare each and every modification and make sure they are all documented on your policy.Rather than cough up ,companies will try to wriggle out on any technical discrepancy in a total loss situation.You know it makes sense !
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Post by headcoats on Jan 31, 2017 15:21:41 GMT 1
Yes got the mods declared , about 2 pages LOL
I don't know what you mean about working out the rise in value from 2009 if it was £4500 then, that's why I came on here
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Post by gazsellars on Jan 31, 2017 18:24:23 GMT 1
I have mine insured with an agreed value of £7000 at the moment. similar mods to yours but even so I think I undervalued it as I reckon I've spent way more than that building it. You defo need to up it cos it'll cost you a lot more than that to replace it like for like!
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Post by headcoats on Jan 31, 2017 19:54:20 GMT 1
7 Grand sounds good !
RD prices are as mad as ever and £4500 in the current climate is bonkers
Did you have to get an independent valuation ?
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Post by dusty350 on Jan 31, 2017 20:14:47 GMT 1
Hi I would add the value of all the parts, at today's prices, the cost of powdercoat/paint etc, and then add that to the current cost of an average Lc that you would buy to modify and you would be somewhere near. I reckon between 7-8k. Like Gaz says, it would cost you at least that by the time you've finished. Dusty  |
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Post by gazsellars on Jan 31, 2017 21:04:01 GMT 1
7 Grand sounds good ! RD prices are as mad as ever and £4500 in the current climate is bonkers Did you have to get an independent valuation ? No didn't need a valuation just told them how much I wanted it agreed at and that was it. The girl I spoke to had to go away an speak to her manager but was no problem. That was with footman hames |
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Post by headcoats on Jan 31, 2017 22:04:45 GMT 1
I'm with Footman too ,so should be OK but we are talking insurance companies  |
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Post by tout on Feb 1, 2017 19:14:02 GMT 1
Yes got the mods declared , about 2 pages LOL I don't know what you mean about working out the rise in value from 2009 if it was £4500 then, that's why I came on here there you go 7K sounds good.......4.5K sounded good in 2009......happy days and no maths required |
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Post by headcoats on Feb 1, 2017 19:28:41 GMT 1
I'll let you know what they say  |
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