How Does Engine Rebuild Effect Agreed Value?

[DAVEY DEE]

Some valued views needed here guys.I have a Speed 6 Cerbera(2000)Insurance is going to be due soon & I was thinking of seeking an agreed value this time round.
Since last renewal I have spent thousands,but was wondering how the following should realiistcally improve its value:

Engine rebuild 4l to 4.3 (two years warranty)
New mounts,silicone hoses,braided fuel & oil hoses,heat shielding, powder coating,manifolds wrapped,
Gaz Gold Pros
Decats with full ACT sports exhaust.
Replacement clutch
Radtec radiator.
Reconditioned steering rack.
And the big one....New cigarette lighter!
Many other things replaced but they are more of a general maintenance theme.

It was insured for 11,000 .
Any ideas chaps? I know you never get what you've paid out,but surely with these mods done its got to be more desirable & have a higher market value to replace.

Cheers.

[NWTony]

Don't you just tell the insureres what you think it's worth and they price the premium to reflect this?

[alex_gray255]

Just get it re-valued for fixed price. That's what I'm doing following my fresh rebuild.

[glow worm]

NWTony said:

Don't you just tell the insureres what you think it's worth and they price the premium to reflect this?

Strangely ...No.

I changed my insurance before my 4.5 upgrade on the basis it was about to be upgraded and the policy increased because of that... They agreed to change the agreed valuation at no increased charge once the work was done and I had new quotations and new photos... I'm about to post them ...So let's see if they are as good as their word.

In the past, my Insurers (Mannings) have asked for a second valuation when they thought the first one was too high.But it wasn't a problem once the nice man (Tony) from Hexham Horseless inspected it and gave me a second valuation at no charge .

Every time the valuation has not affected the cost of the policy... A bit bothered they may start insisting on a tracker over £50k though... .

Edited by glow worm on Tuesday 2nd April 17:48

[NWTony]

glow worm said:

Strangely ...No.

I changed my insurance before my 4.5 upgrade on the basis it was about to be upgraded and the policy increased because of that... They agreed to change the agreed valuation at no increased charge once the work was done and I had new quotations and new photos... I'm about to post them ...So let's see if they are as good as their word.

In the past, my Insurers (Mannings) have asked for a second valuation when they thought the first one was too high.But it wasn't a problem once the nice man (Tony) from Hexham Horseless inspected it and gave me a second valuation at no charge .

I live n learn. I thought I had an agreed value policy with CCI but they've never asked for a valuation. I'll have to check now

[glow worm]

The exact value in £s appears on my policy documents , so no arguements.

[alex_gray255]

The usual way this is done is to...

i) Get a well known TVR specialist/dealer to give an evaluation on headed paper.
ii) Provide pictures of the car (interior and exterior)
iii) Give copies of the above to the insurance agent

It will not usually involve an increase in the premium. Depends on your insurer.

Also, most insurers will require working proof of trackers once you are over
a certain value.

[glow worm]

and engine bay photos this time ... only too happy to oblige

I sometimes wonder if Gyles at Mannings just collects nice TVR photos .. nothing to do with insurance

Edited by glow worm on Tuesday 2nd April 18:16

[alex_gray255]

glow worm said:

and engine bay photos this time ... only too happy to oblige

I sometimes wonder if Gyles at Mannings just collects nice TVR photos .. nothing to do with insurance

Edited by glow worm on Tuesday 2nd April 18:16

May well be! Mike didn't need the engine bay photos though - at least, he hasn't asked for them

[glow worm]

Have you got ? or did they insist on a tracker system Alex
?

[alex_gray255]

glow worm said:

Have you got ? or did they insist on a tracker system Alex
?

My Sag already had a very good tracker installed on it when I bought it and as I was/am paranoid, I set up a one-off payment for a "lifetime" account with the tracker company. Means it is always tracked if need be, plus much cheaper, the longer I keep the car.

I think the policy was you need a tracker for a car worth over £50k.

Most Sags are over £50k now.

[glow worm]

I might deliberately drop my value... Besides the cost of a tracker ... I am a bit paranoid about someone being able to know my whereabouts and they don't work very well in "metal containers prior to shipment" ... I will wait to see if they insist.

[Doc Toad]

Pretty sure that Mannings told me they didn't charge any extra for agreed value up to £30k (subject to the value being verified by a known specialist as described above). If you change mid term though most insurers will probably hit you with an admin charge for altering the policy so I'd agree its best to do it at renewal time.

Re Mannings - Was pleasantly surprised at their reaction to my list of mods, they seem relaxed about everything so long as it doesn't involve forced induction.

As with all things insurance related though I suppose its down to the individual seeking the cover... I'm nearer 50 than 40, live in the middle of nowhere and have two and a half decades ncb....

Damn - when did I become so boring

[DAVEY DEE]

The rise in performance will prob cost me about £100 pa based on the £26 I've just had to pay for the next 3.

I was wondering more about what people might think it would be valued at? Taking all else to be in good order etc.

[Druid]

alex_gray255 said:

glow worm said:

Have you got ? or did they insist on a tracker system Alex
?

My Sag already had a very good tracker installed on it when I bought it and as I was/am paranoid, I set up a one-off payment for a "lifetime" account with the tracker company. Means it is always tracked if need be, plus much cheaper, the longer I keep the car.

I think the policy was you need a tracker for a car worth over £50k.

Most Sags are over £50k now.

I've a valuation over £50k without a tracker being fitted. Very happy with mannings, I'll still be happy not to test them though

[Laser Sag]

Druid said:

alex_gray255 said:

glow worm said:

Have you got ? or did they insist on a tracker system Alex
?

My Sag already had a very good tracker installed on it when I bought it and as I was/am paranoid, I set up a one-off payment for a "lifetime" account with the tracker company. Means it is always tracked if need be, plus much cheaper, the longer I keep the car.

I think the policy was you need a tracker for a car worth over £50k.

Most Sags are over £50k now.

I've a valuation over £50k without a tracker being fitted. Very happy with mannings, I'll still be happy not to test them though

Value at which a tracker is required varies according to the risk level for your post code area, when mine was renewed recently there was no requirement unless the value went over £70K

[RedSpike66]

Lee at Mannings stated I would need an active Tracker in place for an agreed value over 50k, and limited mileage 5k max (not a problem for Tim )

[Zippee]

I have a T350t that was previously insured for 25k. Following my rebuild to 4.3 along with respray and retrim I now have it insured via Mannings with an agreed value of 32k - albeit with limited mileage of 5k pa.
Mannings required an official valuation from a recognised dealer along with side, front, engine and interior photos - they then send this to their underwriters who agree the valuation - it's worth noting the specialists valuation does not mean the underwriters will accept it. This valuation is then valid for 2 years before you need to re-visit.