Valuations??

[aderut]

Just spoke to my insurance cmpany about values on cars.
Any ideas about get a value for insurance purposes set up.
Some mention of TVRCC.

[cuneus]

Who are you insured with and what do they require ?

e.g. Classicline allow valuations up to £20K without a 3rd party

[Number 7]

TVRCC officials don't give formal valuations, and haven't for a good few years. Any valuer would need professional indemnity cover, which TVRCC decided against on cost grounds.

[aderut]

I'm with Heritage, until next April.
Thanks for info on TVRCC, guess they don't want to get caught out

[Trickie Dickie]

Your local TVR Car Club Regional Organiser or Deputy are fine

I have had several valuation forms signed by them over the last 6 years.
Usually only costs a beer

It is merely their opinion that your car is worth what you say
and seeing lots of TVRs they should have a good idea of it's value.

As Deputy RO for West Yorkshire I refrained from doing my own tho

Cheers
Trickie

[Transmitter Man]

I cannot believe the stance of the TVRCC. Probably something to do with why I'm not a member.

My other car's club have no problem in either valuing the car or accepting, and putting in writing what the member's says hiscar would cost to rebuild should it be involved in an accident.

So, IMO, think of a number then double it as that IS what it will probably cost for anyone to source all the parts + add the labour to put your pride & joy back on the road in the condition to which it has become accustomed.

Phil
420 SEAC

[Henry Harris]

Don't let's start another thread on why and why not the TVRCC. There is enough going on that subject right now. Let's prove a point by making BBWF 2011 the best ever.

[TVRCC PR]

Transmitter Man said:

My other car's club have no problem in either valuing the car or accepting, and putting in writing what the member's says hiscar would cost to rebuild should it be involved in an accident.

So, IMO, think of a number then double it as that IS what it will probably cost for anyone to source all the parts + add the labour to put your pride & joy back on the road in the condition to which it has become accustomed.

Phil
420 SEAC

I used to do valuations for the TVRCC and I'm afraid that it is this, dare I say, cavalier approach by other clubs that is causing fewer and fewer clubs to offer the service.

For example. To source all of the parts to rebuild my 350+2 would probably be well in excess of £20K. So does that mean that I would value my car at >£20K? Valuations have to be based on what it would cost to replace that car to a similar standard. I valued someone's 390 a few years back at £9K, because although it was a nice car and had been owned by him from new, I knew of at leaast 2 other 390s at the time in similar or better condition for sale between £8.5 and 9.5K. He was furious, because he said that the car had cost him £18K and he wasn't prepared to accept a valuation any less than that.

It is increasingly difficult to place a value on our cars especially as they become rarer, and I would challenge Richard above that ROs are well placed to offer this service. I'll bet that the majority of ROs, brought up on a diet of Griffs, Chimaeras and Tuscans, would struggle to accurately value for example a Tuscan V8 LWB. What's the value on a Speed 12? Or a Typhon? Or a Mk1 Tasmin FHC?

As noted above, the vast majority of specialist TVRs will accept self-valuations for the vast majority of TVRs since they are valued at £5-20K. If you do have an especially valuable car, then please contact the TVRCC and we will aim to put you in touch with a specialist who will provide an accurate valuation.

[quattrophenia]

I went with MSN (think it was them without checking the policy). There quote was the best and they do specialise in classic cars as seen on various threads on here.
I asked to fix the value of my car and asked whether they would require pictures for this purpose and they declined, stating that in the event of a claim they know what the car is worth and would based it's value on current market prices.

[cuneus]

quattrophenia said:

stating that in the event of a claim they know what the car is worth and would based it's value on current market prices.

I sincerely hope you never have to claim!

That kind of statement would fill me with fear - just look at the massive variation in prices.

[Number 7]

I think a little clarification is required here: on the one hand, the TVRCC's stated policy is not to give valuations because of the absence of PI cover. On the other hand, we seem to have RO's / deputies giving written valuations without any apparent problem. How can this be? What are there the implications for owners in the event of a disputed valuation following a claim? I'm guessing that the TVRCC would disown such a valuation, since it is outside of the remit of the TVRCC to give them.

[grahamw48]

I've been with Adrian Flux for a while now, and they ask for a few photos for agreed valuation purposes.

What's more important as far as I'm concerned, is that when I DID actually have to make a (fairly large) claim, they delivered efficiently and without fuss.

Moreover, they didn't penalise me at renewal time.

'Proof of the pudding', etc.