Stratos Replicas - second hand values

**The Slug** · 28-06-2016, 11:47

You can achieve much more than £40K for a tidy LB privately. Just so you know.

**hollytree** · 01-07-2016, 08:31

So what "agreed" value should I put on the insurance renewal form.
I did £40k last year and the form has just arrived restating that.
Now you have me worried that I should increase it.
Steve

**john** · 01-07-2016, 10:24

I think the specialist insurers would be serving both themselves and us as customers if they kept a database of values and we could contribute to that by relaying to them what the cars sell for when we cancel our policies because the car has moved on. It would be good evidence when claims are made too.

**The Slug** · 01-07-2016, 11:28

Originally Posted by hollytree

So what "agreed" value should I put on the insurance renewal form.
I did £40k last year and the form has just arrived restating that.
Now you have me worried that I should increase it.
Steve

Clearly the price you pay for parts to put a car together, is a different value to what you can sell it for when its a working car.
Whilst you might be able to pay for all the parts you need for £40K, as a complete car to a good standard to purchase following a total right off, the figure needs to be in my opinion at least £50k.

Don't forget if you have a total loss and accept the car back as part of the settlement you may lose up to 30% of your claim, and I understand that the repair of the car can not claim the VAT back on the parts so there goes another 20%.
You would be better off not having the car and starting from scratch for the full £40K.

I'm sure someone with full details on this will be along and correct me.