really need to get the agreed value insurance on the exige updated, any ideas what i should be asking for??
marc.
[quote=osmond1] really need to get the agreed value insurance on the exige updated, any ideas what i should be asking for??
marc. [/quote]
About 2.5 K… given that the slowest depreciating car loose about 45% of their value in the first 3 years… and which clearly what a 10 year old car depreciating at 15% a year is worth! 
[quote=pete757][quote=osmond1] really need to get the agreed value insurance on the exige updated, any ideas what i should be asking for??
marc. [/quote]
About 2.5 K… given that the slowest depreciating car loose about 45% of their value in the first 3 years… and which clearly what a 10 year old car depreciating at 15% a year is worth!
[/quote]
lol
Mine is agreed at �30,000, they wouldn’t do anymore.
But 30k wouldn’t be enough cover to rebuild it again which sucks. So if it gets stolen or crashed I’m out of pocket.
You got to love insurance company’s
[quote=Mad20v]Mine is agreed at �30,000, they wouldn’t do anymore.
[/quote]
Graham
Is that a certified valuation by a professional valuer, or the amount you have discussed with the Ins Co? Reason I ask is that my understanding is that only the former will “guarantee” the payout in a write off situation. The latter would be subject to haggling…
My understanding may well be incorrect, so hopefully someone will have a definitive answer.
Club Lotus would do a valuation for insurance purposes. My understanding is that for an agree valuation the insurance company needs an approved valuation and this is the maximum they will insure to. I use AON and they will only cover up to each of the valuations. For My Exige I have an agreed �25k
Sorry, mate, but I’m not clear what you’re saying about your own case. Have you got a “written valuation @ �25K”, which AON have accepted & agreed? Or is the �25K the valuation figure you have stated to AON? If the latter, surely it would be down to a haggle in the event of a write off claim, but with a ceiling of �25K in any event?
Personally, I’m not confident that Club Lotus is best placed to value a “converted Exige”.
AON have agreed that in the case of theft or total loss I get a cheque for �25k as it is an agreed value.
I can insure it for more, but as you say they would not pay out anything in excess of 25k.
Cheers 
Rob i had to send off photos invoices etc to CCI and they gave me the valuation based on that. I didn’t go to an independent company to get the valuation.
I can see their point that they pay out market value for a car, but to find a ready built SC CC Honda S1 would be almost impossible so i think they should pay out the amount that it would cost to build another to the same spec.
Now that S1s have ‘classic’ status (i.e over 10 years old) with most insurance companies they should be eligible for ‘re-instatement value’ cover. This is ‘agreed’ value plus up to 50% extra to take account of the fact that total rebuild might cost more than the agreed or market value. This is a relatively new type of cover, not many underwriters offer it yet and there is an additional premium, of course, but the more poeple take out the cover the cheaper it will get. I have this cover on my old Elite (1981) with Aon - these cars have litle market value yet can cost a fortune to put right after an accident so it makes sense. Ask for re-instatement cover and if they don’t know what you are talking about but that is what you want then go elsewhere.
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