Quote Originally Posted by hollytree View Post
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.