Discussion in 'General Discussion' started by Dancing Bear, Nov 21, 2011.
guy i know recently had his bus pinched RHD EB Devon and got paid out £24,900 was agrred for £25k (of course he'd rather have his bus back, he'd had it a v long time) i will ask what insurance firm he had it with next time i see him.
Just got my EB insured with CVI for £20k and will be upping this when renewal is due because of above and expected cost of new engine.
imo it would cost me this to replace my van like for like if the worst did ever happen, god forbid.
unfortunately we all like to think that because we've put in lots of money blood sweat and tears these vans should be 'worth' what we would like to get back, the reality is that there is a ceiling to what they are 'worth' certainly in the eyes of the underwriters. Classic example is the day you buy a new car - you write off 20% of its value the minute you take it off the forecourt.
At the end of the day I know and you all know that £20k + for one of these 70's buses is only worth it for an all original factory built trailer queen that's been sat in a museum since the day it was built, regardless of how much work or money had gone into a 'restored' vehicle its never worth anywhere near the money that's gone into it. Add in the fact that 'market value' is actually around the £12-£15k mark for a good bus and they will push back. I'd like to think that if I paid someone £5k to put a modded engine in the back of my van that that would be its actual value, alas, the actual value is how much it will cost to replace the engine, which is nearer the £1500 mark
I would advise that the VWT2OC be the first port of call for an 'official' valuation, but they'll push back at anything that's been modded. And try CVI, I had no issues at all, especially for my agreed valuation of £8k on a US bus in return for a £50 premium
WHS ^^ Just because you bought your bus for a certain amount and then spent 1000's on it doesent mean it worth that amount, it is to you but not to a buyer or insurer, most minted latebays will top out at about £15000 in my opinion
Ok I am more than happy to concede that there is a vast difference in what people think their van is worth and that money put into it does not necessarily correlate to its nominal value. I don't want anyone to fall out about it or have serious disagreements about it either.
BUT my insurers were happy to take a premium off me on the basis that it was worth what I said it was, and have spent the last six months telling me that if I did x, y and z they would agree the value and then didn't.
It's this that I object to. I am grateful to those who have made suggestions for other companies and I will follow them up. The end.
with anything something is only worth what someone is willing to pay for it and as far as i know g'day kombi's have a waiting list for buses they sell (check their prices out) not saying they are actually worth what they get, but is a i phone actually worth the price tag? or a veyron worth whatever the RRP is? probably not but people still buy em
this dosnt add to the thread but if you can afford to throw 30 grand at a bus then whats the problem with it not being insured for 30 grand? (which to me is absolutely ludicrous anyway)
surley if the worst happened and the bus was damaged or worse you could throw more money at it as at the end of the day money dosnt seem to be an issue here.
you can throw money at something all day long but dosnt mean its worth what youve thrown at it.
wow where do people pick these numbers from
there is no way a bay is worth 20-30k, your mad and need your head looking at
i can think of a lot better classic cars to buy rather than spend that much on a 70's camper
Glad someone said it; I'm sure plenty were thinking it....
try these guys http://www.heritage-quote.co.uk/
They agreed a value on mine no problem with some receipts and pictures. worth a call.
good luck mate.
stop pulling silly figures out of the air ( did you see the samba on ebay for 500k)
get it indepenantly valued and be happy with that T2OC do it plus others . Just because you paid x for it doesn`t mean its worth x . But i think the question is not really about value but insurance companies saying one thing and doing different . If you spent 3k on a new roof ,that won`t add 3k to the value
Lots of opinions, most of whom haven't read what I said properly. I did have it valued but the insurance company didn't then accept it.
The last writer was right it isn't about value it's about insurers saying one thing then doing another and that is something which affects us all not just those who ' need their heads read' etc, etc,
I always thought that the T2 scene was friendly but now I am not so sure! The T2 was my dream vehicle for years and years and strange as it may seem was my dream car/ van. As I went through a series of Citroen 2 cvs , Ladas, metros, ancient VWs, mz motorbikes etc when I was skint when I retired last year I was finally able to spend and chose a T2 to pretty much my dream spec. I don't have the dosh to throw any more at it but I do love and cherish it as I imagine you love and cherish yours.
I know that forums are for opinions but please don't mock my dream vehicle choice! The end ( again )
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