Insurance Valuation

Does the Club have a person able to give an insurance valuation? I'm happy to provide one for a particular car I know (not my own obviously) but if there is someone who has this role within the club already that would be better!

Cheers
Guy

Norm has said in the past he can do it?

I'm sure he'll be along soon! Is it a recognised role though? I've just provided a valuation on a Hawk as a long standing member and would be happy to provide other valuations if I knew the car. But if there is someone specifically recognised within the Committee for this then they should be used....

Well......yeah, I've done several valuations over the last few years, but the reason I don't make much of a thing about it is because I don't want to spend half my life travelling all over the place viewing cars. I tried to set up a valuation service shortly after I became Chairman, by trying to recruit a few peeps around the country who also knew their stuff about particular Strat versions (Hawk, Allora, CAE, etc). But it came to naught cos we'd end up having to charge a fair old whack to cover fuel, time, etc.

As it stands, if I do one I provide a letterheaded document from the club, including my role as Chair in order to give some sort of gravitas and make it look like I know what I'm talking about (haha). I've never charged anybody for this, as I know most of the cars I've valued or else I've seen them at a club do (AGM, f'rinstance), and I see it as a service the club provides.

If we were to expand this somewhat then having type experts such as Guy on board to assist would be great. But again, there's the distance thing - someone from Darn Sarf wanting a valuation would ideally require an expert a bit closer to them! And, I think those involved would have to be singing from the same sheet - I've started knocking values back this year given the general cooling in car prices and difficulty in selling....

I am looking for an insurance valuation - as you know the car really well and most of the parts used to build it I would be happy to get a valuation from you Guy if that is acceptable to the club? I am planning to take the car to Silverstone Festival but would need a valuation earlier than that - I can send a set of final build photos through to support.

Matt. I think for insurance "agreed value" you should think of a number that reflects what you paid for the bits and your time at say ?30/hour and get a price in your head. Thats what it would cost if the insurance company had to replace it. I bet a number drops out around ?100k. or more. They will mull it over, look on the web and charge you accordingly. Dont forget, you are not trying to put a sale price on your car, you are trying to estimate the cost/time/effort to replace it.

I have a good record of all individual expenses over ?150 that totals to ?70329 with all the odds and sods below ?150 I would guesstimate another 15-20% so ?10k. In terms of labour - I haven't logged all the hours but have kept a journal which has 105 entries, this is not all individual times spent on the car but I would average them out at 5 hours so 525 hours @ ?30/hour would be ?15750. So a total of ?96k.

Good estimate @hollytree

Guy - I'm happy for you to provide a valuation if you're OK to do it, so if you PM me with your email addy I'll send you a sample letterheaded valuation certificate that you can update/butcher to include the relevant info. Alternatively, once you've seen what's required you can let me know and I'll create a new one, as some insurance outfits want something from a current club official. The fools.

Actually, I've just realised Matt's in Northumberland, which makes us practically neighbours - so I suppose I can pop over and see the car for myself, and produce a certificate based on that and the build figures.... Matt, over to you :)

Think I will need another one in a few weeks. Looks like I?ve done, err, 35 miles between MOTs so perhaps we can look at the fact that petrol was more expensive last year and factor the still nearly full tank into the valuation.

You have to account for the fact the petrol's depreciated in value with age, plus the loss of octane means it'll only be good for powering a strimmer on Rockall ;)

Hi Norm - if you are near me very happy for you to pop round or I can come and see you (I think we met at the NEC - Lancia Jacket)?

Thanks for heading round today Norm - lovely to meet you and Mrs Norm I will send the VIN through on whatsapp