Insurance valuations

With the amount of Land Rovers being stolen, it’s got me concerned about how the insurance companies value them in the case of a total loss.

The TD5 doesn’t appear in price guides, except for the one in LRO

This price guide reckons that the best 2006 TD5 SW can be had for £13,000 (trade price £5340!!) which in the current market is unlikely. Then for the best 2005 (“restored or in fantastically original condition”) it says £10,660 (trade price £4240 lol) which makes no sense at all.
If anything a 2005 could be worth a little more due to the lower road tax category.
And as for the 2003 Defender SW, a minter for £8,575? Show me that Landy and l will buy it tonight.
The price guide doesn’t differentiate between the different versions (the XS is worth more surely)

What l am getting at is, l hope this is not the price guide that insurance companies refer to.

When we tried to part exchange the missus’s 2003 SW at a VW main dealer they worryingly offered £6,000 (We sold it on Autotrader for £11,800)

I think most insurance don't look at the various price value. More what parts cost to replace through a standard garage. It you who gives a value first when you buy. Mine was 2grand when bought and still valued at 2grand still to replace being a Freelander 1. There is a breakdown value added I think to the insurance relating area such as possible thief likely damage from activity within a postal code. Mine comes within three postal code bounders that likely suffer from Thieves etc.

Ebay advanced search, completed listings, prices in green are auction sold prices, red I think is unsold, and black is classified adverts, so you have no idea if it sold or not, check once a month and print them off for future reference.
Have you got agreed value? if not why not?
TBH I think defender prices have softened quite a bit over the last year or so.

It’s hard to get agreed value insurance on newer ones.
The only company l found is Adrian Flux but they quoted over £500
I would still go with it, no option really, but it’s currently in the middle of the existing insurance and if l cancel that l get very little back.

Basically it meant either doing a change of vehicle on our existing insurance which was £45 or paying over £500 for a new policy.

lightning said:

It’s hard to get agreed value insurance on newer ones.
The only company l found is Adrian Flux but they quoted over £500
I would still go with it, no option really, but it’s currently in the middle of the existing insurance and if l cancel that l get very little back.

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Some companies accept agreed valuations from car clubs. So that may be something you could try. We also have used the manufacturer's valuation for completed Kit Cars and they are accepted by insurance companies like Heritage.
Have you asked a broker to look into this for you? At the end of the day you can insure anything for anything even if you have to go through Lloyds.

@lightning flux I’m sure do agreed values. It’s 8 photos & some paperwork to fill out. Have a chat or tag flux onto the thread

They do, but l fell out with them a bit as the quote was £100 more than my 110.
I questioned this and was told l had a “loyalty discount” on my 110 that they couldn’t apply to the new policy.

I have also had this problem. Tried endless insurance companies and brokers but as the Land Rover is not 20 years old and does a fair few miles they don’t want to know an agreed value.

Apparently my 2005 110 immaculate hard top with few miles is only worth £6k according to their ‘market value’ databases!

You have to take plenty of photos showing the condition of your Land Rover
So if needed you can prove that it’s not the rolling restoration project that £6,000 buys you in the current market.
Because l bet every car is “pristine” after it’s been stolen.
And keep records of any work you’ve had done that would increase the value.

LRO think you can get a mint 2005 110
HT for £8,380 and the trade price a laughable £3,185

That’s what I’ve decided to do. I have detailed photos of it, all the paperwork of every penny that has been spent on it so if heaven forbid the worst happens I will end up having to get the ombudsman involved!

Well, hopefully you won’t need to resort to that.