how much is it worth ?

[uglymug]

Hi Guys,As you all know the time is near to getting No5 on the road. Getting it to and thru the MOT, but I have to insure it first. So now that I have done all this work, rescuing it from oblivion etc, how do I go about valuing it. Do I put a figure on it, or does a club member value it. It seems that the early wedges have a price structure all to themselves. I dont want to under value it just in case, and on the otherhand over value it and pay too much premium.

[Gerry Attrick]

Bearing in mind the price has nothing to do with what your car's worth, but what the insurance company think it'll cost to replace it with something similar, you need some supporting data. I use the private ads in Sprint to get a valuation. Base it on model, age and miles and you won't go far wrong. If your cars better than average you can boost it a bit, but you'll probably spend an awful lot of time arguing with the insurance company if you needed to make a claim. If yours is worse than average, you have a bit in hand.

[firefox1712]

Obtaining an insurance valuation very much depends upon the broker and the ins company - i.e. it is rather up to the underwriters.

Some will take a rule of thumb and comparison valuation after looking at your own estimate. But others will want further verification for higher values; perhaps a club valuation - which can be a pain, especially if your car differs somewhat in certain ways. Whilst in some quarters such differences may increase values - e.g. special or one of coachbuilt bodies, in others this may cause a club to lower the value of a car.

Cars with 'hidden' hitories are harder to value.

I know of a broker that essentially, if resonable, goes with the customer on a value up to £15,000 subject to adjustment by them, but above this a pukka club valuation is required.