What happens if it all goes horribly wrong?
Discussion
I was just wondering what position insurance companies take when having to pay out for a written off or stolen TVR.
It's not like loosing a metallic red 1.6LX Fiesta. You stand a very good chance of finding a replacement one of these with a similar mileage/condition etc to what you have lost.
TVR's (especially when purchased new initially) are often in custom colours both inside and out, options vary widely (especially with all the different specs of cars over the years). So the majority of cars are pretty much unique.
So when having to provide a figure to replace like with like what happens? Or is it simply a case of a glass's guide figure and be done with it. Cause that really isn't going to get you back what you have lost.
Hope that this doesn't bring back bad memories for anyone out there but if you have experienced this then please (if it's not too painful) let us know.
It's not like loosing a metallic red 1.6LX Fiesta. You stand a very good chance of finding a replacement one of these with a similar mileage/condition etc to what you have lost.
TVR's (especially when purchased new initially) are often in custom colours both inside and out, options vary widely (especially with all the different specs of cars over the years). So the majority of cars are pretty much unique.
So when having to provide a figure to replace like with like what happens? Or is it simply a case of a glass's guide figure and be done with it. Cause that really isn't going to get you back what you have lost.
Hope that this doesn't bring back bad memories for anyone out there but if you have experienced this then please (if it's not too painful) let us know.
quote:Welcome to car insurance! If you're very, VERY lucky an insurer will pay you the lowest most depressingly pessimistic figure you could hope to get if you traded in your car on a part exchange (ie. peanuts). They'll never give you the amount of money it would actually cost you to go out and BUY a replacement.
Or is it simply a case of a glass's guide figure and be done with it. Cause that really isn't going to get you back what you have lost.
And they'll never take desirability or rarity into consideration either. Take the Corrado VR6 that you used to own, for example. I'd probably be offered about £4.5k for mine on trade-in / write-off, even though you and I both know that they are about £9k-£10k on the forecourt due to their rarity.
>> Edited by JonRB on Monday 19th August 12:02
quote:
Welcome to car insurance! If you're very, VERY lucky an insurer will pay you the lowest most depressingly pessimistic figure you could hope to get if you traded in your car on a part exchange (ie. peanuts). They'll never give you the amount of money it would actually cost you to go out and BUY a replacement.
Hate to disagree with you but in both cases where I have had a written off TVR (Vixen in 1980 by ex wife) and S1 in 1995), I got exactly what the going rate for a replacement. There is no Glasses guide so I got a whole load of adverts of similar cars, added copies of the money I had spent on the car and haggled a bit and got what I wanted.
They will try and offer you a lot less in some cases but be polite, point out the error of their ways and document it and you should get a result. They will ring some dealers and get a part-ex price but stick with it. They are only tryinmg to do what we owners try and do when buying - haggle and get the price down.
Steve
www.tvrbooks.co.uk
Get a policy with agreed valuation cover if its really an issue to you.
I had it on my previous car as I'd got a lot of money invested in cosmetic and performance mods on the car.
I had to send off several photo's and that was it. Agreed cover at the desired level. In the event of a total loss then this would have the figure paid out.
I don't have it on the TVR as I can easily produce sufficient adverts to backup what I'd need to cover the car in the event of a loss.
Cheers
Dave
I had it on my previous car as I'd got a lot of money invested in cosmetic and performance mods on the car.
I had to send off several photo's and that was it. Agreed cover at the desired level. In the event of a total loss then this would have the figure paid out.
I don't have it on the TVR as I can easily produce sufficient adverts to backup what I'd need to cover the car in the event of a loss.
Cheers
Dave
I agree with others here, the trade don't have listings in CAP or Glasses Guides for TVRs. So you will have to evidence what you believe your car to be worth. Never accept the first offer (unless its what you wanted of cause), they are a business out to make money and offer stupid low offers for written off/ stolen cars is one way of reducing overheads. A lot of customers will take these first offers, FOOLS 
quote:
Is that why she became your ex-wife?
No but close though.... she did get the 1974 Lotus Elan coupe that we bought with the Vixen money. Great car but an absolute pig to work on and I suffered more than my fair share of the Colin Chapman "make it light as it only lasts 300 miles" syndrome. I was glad to see the back of it if the truth be told.
Steve
when I had my sierra (this is the sports cars forum after all) nicked and written off the insurance co offered me £$^%%$ all, so I copied the ads for similar age, mileage etc from autotrader and faxed it to them telling them to find one for that price, two days later - realistic offer (actually made £300 on the price)
Oops! In general terms - suggest you collect as much documentary evidence as poss ie. adverts for similar model, spec, condition etc from places like Piston Heads, Autocar, Sprint Magazine and so on, as well as service history for your car. Then pass all evidence onto insurer with what you think your car is worth. It worked for me many years ago with a Maestro (!) - insurer offered me £500 less than I finally got after submitting raft of ads for similar car in good condition.
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