agreed valuations
Turbo Mini Forums

I've just had my renewal in for the mini and my insurer has 'offered' an agreed valuation for an additional £15. I didn't bother last year but now wondering if I should on the basis of all the theft that is going on these days.

Question is, what is a reasonable value of a modified turbo mini in what I'll describe as Good Condition. I know it would be nothing like what I've put into it. Figure in my head is £5k but wondering if I should raise it to something a little closer to what it would cost to build

Argue the toss for as high as possible!

go for build cost not resale value.

Insurance can be quite strange with value I found if I said my car was worth more than what it actually was it would reduce my premium.

Mines 4500 but thats only because they knew roughly what it was for sale for.. i shall argue in the future that to replace it etc it needs to be more... should be simple as good nick boggo 998 models in my club are upto more than double my valuation

Im pretty sure i had mine agreed at £8000. I gave them copies of all my receipts and a list of everything modified/ changed from original. Also loads of photos backing this up.

My build thread: http://www.turbominis.co.uk/forums/index.php?p=vt&tid=454802

Flickr: http://www.flickr.com/photos/85313398@N02/

Bloody hell... I dread to think what I've spent on mine over the last couple of years.. silly money tbh... a small mortgage!

I could probably see a realistic £8k in mine over the years

I have had an agreed value policy on mine for years now, or you will get nothing back if the worst happens

Edited by gr4h4m on 1st May, 2015.

I run a supercharger and I don't care the TB is on the wrong side.
VEMS + 12 PSI + Liquid Intercooler = Small Bore FUN!

i had my valuation at £8k and sent in receipts to prove it lol

Yes i moved to the darkside

Instagram @jdm_brett

I think Shauna's is around 7000/7500 which is a bit lower than it would all cost to replace, but seems a realistic figure. Would be nice for a bit more though to fully cover all the costs if it ever had to be replaced heaven forbid.

My vtec mini was due to be 10k agreed value it went tits up before i submitted the documentation luckily i had filled it all out and had receipts to prove what id spent along with alot of pictures.
Managed to claim and got a full payout minus my policy excess. Declare every mod however insignificant you think it is document it and keep your receipts.

Outside the box

Yeah, mines agreed at 7500. But then people we know have their 998 late 80s agreed for 8/9k so I guess it depends what insurance company your with. I'd put it on, myself and Carl know somone whos written off their mk3 clubby and only got £1500 for it

They don't die, they just get faster!

Its flux. I dont have many receipts to be honest as Pam would have killed me if she knew how much the thing cost me! I do know rough costs though

Starting to think i should start looking at a higher valuation now

im with flux for the landy and the moped at the moment as both are heavily modified they are normally pretty good and will use the current pictures and spec to agree the valuation i only mention the receipts as for my vtec the paperwork had not been submitted so i had to prove with all the pictures and receipts for them to "agree" the car was worth what i claimed it was before the "crash"

Outside the box

That time again for me... they bein a bit funny me valueing it at more than i paid for it.. but that was over 2 years ago? Anyone else experience this?

market clearly supports the fact the cars are going up in value. in my eyes, what you paid for it is immaterial. You may have been an extremely good negotiator!

2 years ago i had the argument that what if id won the car in a raffle for £1? U only gonna insure it for that!?!?

here we have a person of a independent firm who looks at the value of your car ( in the case you want more then the standard price when total loss) he looks at the car. bills what you bought for it etc etc... then gives it a price tag. that price tag is the price the insurance must pay out when total loss ( accident in your rights) my friends his clubman gt who was modified was calculated at 10000 euro.

you can do anything if you set your mind to it...
i rather blow it up winning than keep it together losing.

finish date set for project 1... march 2018

I managed 14k agreed value on mine 2 years ago, after some haggling tbf it's nowhere near a 14k car

14

This has reminded me I need to sort mine out!

They don't die, they just get faster!

Most of these agreed valuations are rubbish, read the small print and find out if the insurance company will actually pay you that amount in the event of a loss, answer is usually no.

Probably a very rare occasion but our friend recently had a bump in his clubby estate and got his value upped from 4k to 7k by the assessor that came out to have a look!

They don't die, they just get faster!

Thats good to know... the garage mine would go to if summin ever happened constantly has show vws, beetles mk1 golfs splittys etc and the assessor they have is all clued up so its reassuring in that way...