278 replies to this topic

[ArticMonkey]

How do people go about valuing their cars for agreed value? I've got a one off stage #*# supercharge and the likelyhood of one ever coming up for sale is like UKIP winning today. So the only way I could replace the car is by rebuilding it which would cost £££££. One company has come back with £15k but I'll need more than that to start from scratch. Any advice would be great.

[CHILL Gone DUTCH]

Make a list of your mods and the cost excluding and including labour + the cost of a car which could be used to have the mods done to It's up to you to prove how much it would cost to get a car to the same position you are now in now. After all you are insuring to be in the same position you are now in, I would also try and find examples of cars similarly sold to yours, if possible

[Graeme Lambert]

Stu,

Obviously I am/will be in same boat. When I spoke to my insurer about agreed value (and I'm not here to argue what people think my car will be worth when done, it's about how much to replace like for like in the event of a total loss) I was told if I wanted over £25k then I would need a lotus/Vx specialist, but not one involved in the build, to provide a written value estimate.

 

G

[Kieran McC]

You need photos of the work done before and after are a big help .Invoices of the work carried out with a independant valuation for the upgrades carried out .

[ArticMonkey]

Cheers guys. I've got a parts list and valuation from an independent company. Plenty of pics and some receipts.

[walkes]

Not saying anything wrong with this guy selling insurance, but I check the FCA [font="arial, helvetica, sans-serif;"]Financial Services Register before I check out insurance companies, and noticed there appears to be a little differnce. Maybe he need to update his website from the FSA days[/font]

 

 

[font="arial, helvetica, sans-serif;"]From The Financial Services Register[/font]

[font="arial, helvetica, sans-serif;"]Apartment 5-246 Lawnhurst Avenue
Manchester
Lancs
UNITED KINGDOM
M23 9SB[/font]

[font="arial, helvetica, sans-serif;"]479061 - Henderson Taylor Insurance Consultants Ltd[/font]

 

[font="arial, helvetica, sans-serif;"]From website ...[/font]

[font="arial, helvetica, sans-serif;"]Henderson Taylor Insurance Consultants
Unit 5, 246 Lawnhurst Ave
Manchester
M23 9SB[/font]

[font="arial, helvetica, sans-serif;"]Authorised and Regulated by the Financial Conduct Authority (FCA) Registered in England No. 6235274[/font]

 

[font="arial, helvetica, sans-serif;"]Just thought would let everyone know[/font]

[siztenboots]

did anyone list the value of the additions , or just list them

[techieboy]

I just listed everything. If I put a value on them all, I'll cry.

[siztenboots]

I know I have missed some bits , so who will share their list first?

[ArticMonkey]

Thumbs up from me for Henderson Taylor. Got an agreed value which would allow me to build the car from scratch if the worst happened. Just need my valuation back from a specialist and send my parts list and pictures over on the next two weeks. I was told if I really wanted, I could have a cover note for the policy if needs be.

[siztenboots]

did anyone else have this on theirs ? no mention of european trackday cover either?

 

"G31 - Track day cover
The cover provided by section 2 of your policy document is extended to include accidental damage while your vehicle is being
used on a track day.
This benefit is limited to five track days per period of insurance."

[Kieran McC]

Has anyone had a problem with their car being added to the MID data base ? Mine has been on twice then taken off , I have spoken to HT its Equity Red Star being dicks not getting their act together.

[P11 COV]

did anyone else have this on theirs ? no mention of european trackday cover either?   "G31 - Track day cover The cover provided by section 2 of your policy document is extended to include accidental damage while your vehicle is being used on a track day. This benefit is limited to five track days per period of insurance."

Interesting! I have no 'paperwork' electronic or physical as mentioned before they said they only send out if requested. This has concerned me more and more as I have no 'proof' if what my cover is even if MID shows I'm covered.

 

All I have is the from an email:ased on the information that you have provided, I am able to offer you an annual premium of

£349.27 XS250   including insurance premium tax at 6%, legal expenses and our non refundable policy fee.

including insurance premium tax at 6%, legal expenses and our non refundable policy fee.

 

Agreed value

Free Trackdays UK & EU

Fully comprehensive UK & EU

Legal cover UK & EU

 

Based on the information that you have provided, I am able to offer you an annual premium of

£349.27 XS250 iincluding insurance premium tax at 6%, legal expenses and our non refundable policy fee.

 

If you have any queries, require additional information or would like to proceed,

please call me on 0844 800 5564

 

Is doesn't actually say 'unlimited' track days does it.

 

I'm going to email and ask for documentation.

 

[Rudy]

Has anyone had a problem with their car being added to the MID data base ? Mine has been on twice then taken off , I have spoken to HT its Equity Red Star being dicks not getting their act together.

Mine was on within a few days. Better check it's still on though. I got a cover note emailed through with the forms for agreed value. I only plan doing 3 or 4 trackday this year in the UK so it's still cheap compared to taking out individual trackday cover through previous insurer (flux) but can understand your European trackday boys querying this. I'd ring Matt and get confirmation asap.

[CHILL Gone DUTCH]

IM going to sort out my track day insurance for angelsey On the 24th so will be putting it to the test

[siztenboots]

Matt is sorting it out , its not a problem , just the wording ERS use.

 

[color=#1f497d;][font="calibri, sans-serif;"]Hi Steve,[/color][/font]

 

[color=#1f497d;][font="calibri, sans-serif;"]I'm having a meeting with ERS soon to get our own wording as this is a standard one [/color][/font]

[color=#1f497d;][font="calibri, sans-serif;"]we are aware that there are differences in this and other documents like the proposal form[/color][/font]

[color=#1f497d;][font="calibri, sans-serif;"]we will be changing the wording very soon to match our policy [/color][/font]

 

[color=#1f497d;][font="calibri, sans-serif;"]But I can confirm to you that what we discussed is accurate [/color][/font]

 

 

[color=#1f497d;][font="calibri, sans-serif;"]Matt [/color][/font]

 

[Kieran McC]

Matt is on the ball ,ERS are on the slack side

[TazN]

An insurance company not on the ball? Well I never 

[CHILL Gone DUTCH]

Let matt no about track day by email and it was booked in within 15 mins And email back to say so

[Beano]

Quick thanks for the recommendation. With all the mods, A Flux wanted over £600. HT came in at £371 with an agreed value of 15K.

That's enough shopping around for me.