What is it worth?

[AJC77]

Hi All!

I'm not selling it, no siree, I'm applying for an "Agreed Value" with Lancaster Insurance now I've had the chassis restored. So my question is, for insurance purposes, what value do you think it should be? It's an 89 S2 with 54k on the clock.

It's just had a body off chassis restoration, with a painted finish rather than powder. During the work £1500 of parts were replaced, such as
- New s/s manifolds
- New engine, gearbox and diff mounts
- New clutch cover, plate and bearing
- New upper and lower front ball joints
- New suspension and ARB bushes
- New dizzy cap, rotor arm, HT leads and plugs
- New braided brake hoses (brake lines had been replaced just before the chassis work)
- New rear dampers, springs and front dampers/springs replaced less than 12 months ago
- New front discs, pads
- New rear shoes, cylinders and spring kit.
- New filters all round
- New fluids all round inc engine, gearbox and diff oil
- New V belt
- New fuel line

Here's the piccies I'll be sending Lancaster.












I was thinking £7.5k? Is that optimistic or fair?

[pjac67]

Nearer £9k for insurance or £7-£8k if you are selling (sold a 70k S2 last week for £6k without new engine....)

[The Big G]

How much would you want if you were looking to buy a replacement and/or bring one up to the same standard? That's what you need to know. Can you self certify it's value or do you need it agreed by a TVR specialist which is the case with the few insurers I've used in the past. its then out on their leterheaded paper and that's good enough for the insurance companies.

[AJC77]

I have to fill out a simple form and submit that together with 6 evidencing photographs. They then take a view on my suggested value and respond agreeing/lowering/increasing. I guess they have some in-house experts...

Personally, it stands me approx £8,000 so if I was to do it again then that value, maybe a bit more.

[The Big G]

In which case go for something like £9000 and see what they say. They may talk you back down again to where you were before. Most items insured for agreed values are greater than the resale value as it covers the replacement cost. Good luck, let us know how you get on.

[RichB]

Can't speak specifically for an S but one of my cars is insured on agreed value on a similar basis; I provide pics once very 2 years and we discuss the value. To be honest they've never questioned my suggestions and in any case the higher the value the more you will pay for the premium. I suppose the insured amount dictates the premium.

[DamianS3]

What's up,with the rear camber..? Or is it just the road looks to have positive camber in the pics..

Agreed val at £9k seems reasonable.

Damian S3

[AJC77]

The rear camber does look positive in those pics, I had been jacking the rear end up earlier that day but still a geometry / 4 wheel alignment is due.

[jwigglesworth]

Personally I would put it at £9k as they will adjust downwards themselves if they disagree. I assume that you have told them about the various non-standard bits on the car? Tell them everything you can think of just to be on the safe side as in the event of a claim (god forbid) they may decide to be really nit-picky and give you a load of grief.
Super looking by the way

[AJC77]

So, I received my agreed valuation back from Lancaster today..... They've put it at £8k. I'm happy enough with that. It's what it stands me based on the original purchase price plus body off refurb cost, which does mean that all is not lost if like me you find your chassis is not what you thought it was and face the decision of whether to repair or sell.