Just received my insurance renewal documents and been checking through the small print. Seems that the "default" value of the vehicle would be substantially below it's true worth should it be sold. We all know that a Bay's real market value has nothing to do with what we paid for it and what we've spent. The fact is that they have rocketed in value in recent years. I've a insurance form to be filled in by an "Independent Valuer". So my questions are - 1. Who should I get to do this valuation who is fairly local to north Bristol. 2. Would their valuation be "cast in stone" should I make a claim, or would the value be disputed so the insurers could pay less? Thanks in advance.
Martin at Bristol Cherished Cars in Whitchurch will do them. There seems to be some debate on what the insurers will actually pay out in the event of total loss. Personally I think they'd struggle to pay less than agreed so long as the bus is found to be in the claimed condition. (Although in the event of total loss it'd be unlikely they'd have anything / much to compare)
You could also use the T2OC but it'll take them 2 years to reply to your email, and they'll then value it at £18.57
My Insurance broker dealt with the insurance company and arranged AV cover with no inspection required. I supplied my broker with a box file containing a history of the bus since new in my family, a dozen large photo's of the bus and all resto. receipts, which actually exceeded the value I put on the bus. Tony
I went with Lancaster Insurance. They valued it themselves from photos I sent. I put in for £13K and they said it was worth £16K. Well pleased.
He seems near enough, takes a few pictures then does the valuation. All for £10! But the point is, how much weight does his valuation carry with the insurer. By the way, I'm with Peter James.
As much as anyone else's I guess. As said, there is debate on what exactly Agreed Valuation means. Ask your insurer?
That might prove to be 'difficult' if a week after you've checked how much money they'll give you, your van gets stolen.
JustKampers ask for pics from every angle and a list of all the main things you've done to the van. Took forever but I sent off a list and the pix. They came back with the agreed valuation (£14k if you're interested, fellow Moonraker person!) and that was that. It was useful to write all the work down in one place actually. Also flippin' frightening when you added up the bills from the few previous years!
I've got agreed value with Footman James. They didn't even ask for photos or description, which was odd as I'm sure they did with the Beetle. They definitely asked for 5 photos and a list of all the work and improvements on the Beetle when I renewed last time and increased the value. Like Ricky said, if it's under a certain value (I think mines 20k) I didn't think you needed an independent valuer. This might sound stupid, but when I first read the form I didn't see the bit about if it's under a certain amount I can value it myself. So I thought I had to take it to someone, until I read it a bit more carefully. Just double check that's not the case with yours. Better to be safe than sorry.
