Cerbera Price Advice

[rjben]

Hi all,

After finding out that my Cerbera is a total loss and almost choking on the offer of 25K from the insurance comapny (see Nightmare in France thread), I need some advice RE valuation of vehicle.

It is:

MY2000 'W' reg 4.5 LW. I only bought this about 6 weeks ago, so I know that it is at least worth what I paid for it. But I believe that the insurance have to pay me the 'market value' of the car. I've already consulted Auto Trader and Pistonheads to find example prices but I'm not coming up with many - anybody got any ideas on how else I can value this?

Cheers,

Rob

>>> Edited by rjben on Wednesday 20th August 14:56

[jeremyc]

rjben said:

MY2000 'W' reg 4.5 LW. I only bought this about 6 weeks ago, so I know that it is at least worth what I paid for it. But I believe that the insurance have to pay me the 'market value' of the car. I've already consulted Auto Trader and Pistonheads to find example prices but I'm not coming up with many - anybody got any ideas on how else I can value this?

Why not ring a selection of the TVR dealers and ask for their estimate of prices for similar cars; I'm sure they would help out (even if they don't have any in stock).

Collect all the evidence you can (written down/printed) and present the case to your insurers of the cost to replace your car with a similar one.

[simpo two]

I had a run-in over my previous insurers about the term 'market value'. They were so evasive I never did get a straight answer. However, when I said 'so that's trade price then?' they didn't disagree. When I said that as a private individual I would not be able to replace the car like-for-like at that value, they agreed. So unless it was an 'agreed value' policy, which unfortunately it wasn't, I think you may have a fight on your hands.

Perhaps the legal cover they give you will allow you to sue them for the difference.... irony.

[Paul V]

I’d tell them you’ve only had it 6 weeks and paid £? for it, turn down their offer then ring them back everyday asking for a better offer (try to speak to the same person), I’ve only ever done this with an older car so not worth much money but did eventually get what I wanted.

[chimhunter]

Not had to do this myself but there was a few write offs on the s2ki forum a while ago. This thread contains some useful advice:

www.s2ki.com/forums/showthread.php?threadid=105089

Rob

[GCerbera]

Here are some prices I have seen in the last few
months. I hope they help a little.

4.5 Cerbera LW (2001) £36000 Trade
4.5 Cerbera LW (2000) £31000 private sale
4.5 Cerbera LW (2000) £31000 private sale
4.5 Cerbera LW (1999) £31000 private sale
4.5 Cerbera LW (1999) £29500 private sale
4.5 Cerbera --- (1999) £26600 private sale
4.2 Cerbera --- (1999) £30000 Trade

EDITED TO ADD THESE CURRENTLY FOR SALE:
4.5 Cerbera LW (2000) £32500 Trade
4.5 Cerbera LW (2000) £30000 Trade

Go create some weather...
Graham
TCR The Cerbera Register

www.TVR-Cerbera.com

>> Edited by GCerbera on Wednesday 20th August 17:04

[simpo two]

It's worth pointing out from the above post that 'Trade' in this context means 'Retail forecourt price' not 'trade price'!

[bilton_d]

i know someone who had the same issue and his responce was that he insured the vehicle for a value and they were happy to accept that value at the time, from then on i have always stated a value on the insurance and never market value as everyone values a car differently. You could always just ask the insurance company to replace it with an indentical car.

[simpo two]

bilton_d said:

i know someone who had the same issue and his responce was that he insured the vehicle for a value and they were happy to accept that value at the time, from then on i have always stated a value on the insurance and never market value as everyone values a car differently. You could always just ask the insurance company to replace it with an indentical car.

I have a nsaty feeling that unless it's an official Agreed Value policy (which needs a professional valuation) you can put any value you like in the box and it will make sod all difference in the event of a claim. You can be sure that unless it's in writing, it'll get messy at claim time.

[bilton_d]

i agree with what you say and my friend did have to go through a solicitor to get it resolved but the final outcome was that both parties were entering an agreement therefore the agreement was based on the value entered on the document and not market value.

[rjben]

Cheers Gents,

I've got a couple of valuations off dealers and I've copied adds out of the trader so lets see what happens!

I'll keep you informed.

Rob

[HarryW]

bilton_d said:

i agree with what you say and my friend did have to go through a solicitor to get it resolved but the final outcome was that both parties were entering an agreement therefore the agreement was based on the value entered on the document and not market value.

Often wondered about this aspect of it, as a fair proportion of the premium you pay is based around the valuation, ergo they are accepting your payments based on this. As far as my lay leagle brain goes this then means they should therefore pay out based on this premium/value. If they believe the value you put in the box is unreasonable, surely it ball is their court and should say something. The fact that they then activate the policy this to means to me this is an 'agreed' valuation which they are happy to take your premium on , or is that too simple .
Cue lawyers, Phil et al.................

Harry

>> Edited by HarryW on Wednesday 20th August 22:18