agreed valuations

Rorie · Apr 15, 2019

Having just finished a rebuild, i'm trying to get an agreed valuation for my 90's insurance. Adrian Flux are giving me a 'sale price' or 'forecourt' valuation, but i'm trying to get a 'replacement cost' value.

Adrian Flux told me to get an independent valuation done and they'll review this (bit stupid as i paid them to do the valuation...).

So has anybody jumped through these hoops before? Any suggestions on where / how to get the car valued on 'replacement' basis?

Thanks

Hicap phill · Apr 15, 2019

Normally AF look at pictures of the motor & list of receipts & agree the value.
When they say it needs to be independent do they give a list of companies to use or can a forum member do this?
Not had any problems when I Say my motor is worth more When book price is less.

Is there not a AF rep on the site anymore?

marjon · Apr 15, 2019

I used A- Plan they at least valued my OF a lot more than a normal P38, but did drop it on renewal so I had to point out mine was going up not down in value they agreed, (limited mileage policy) but even so I don’t think it would have fully covered a like for like replacement but would have certainly stopped them from writing it off so quick.

I honestly found AF no help as they didn’t even recognise my OF.

J

Rorie · Apr 15, 2019

AF dont let you speak to the valuation people. You pay them £15, send them all the info (including what i think the value is) and they just reply with a different figure.

I've done this before and it seems they just knock you down by a certain %. I dont understand why though - the premium goes up to cover the increased cost, so it doesnt make sense why they want to 'down rate' the car. I actually went in with a figure i thought was low!

They never gave me any suggestions on who they would accept. They just said if i disagreed, go get another valuation and they'll consider it!

Hicap phill · Apr 15, 2019

how can they value without viewing ? I would base the value as a new build motor but they base it as an old used motor.
I have agreed values on the S1 without photos.

Do you not get to see any paperwork for how they agree the value? You should as you have made a payment for a service.

Disco1BFG · Apr 15, 2019

I am fortunate to know someone in the trade who was able to value SWMBO's D1 - the spec is pretty rare, and the condition converts into hens teeth ...

A-Plan seem to be playing ball - but if and until we had cause to make a claim ..... how will we know ? And .... I'm not criticising said broker at all for this, but they are the broker .... if the worst come to the worst, then I'd be expecting something of a battle, and be needing the services of a good loss assessor

AF wouldn't do business use on a classic policy, so they were no use to me.

Al2O3 · Apr 15, 2019

My rebuild is insured through Admiral and they didn't ask for any evidence of the value I put on it. TBH I set a value greater than book, but probably not as much as it's actually worth. Obviously, Defender values are very debatable. Having said that, I had a walk around the forecourt of Land Rover Centre Huddersfield today and left thinking I'd undervalued mine by a fair bit. Weird science, shifting sands and all that

norseman · Apr 16, 2019

Not had a problem raising the agreed value of my RRC in the past, but I suspect the lack of garaged parking will be the stumbling block if I want to raise the £AV this year.

Adrian Flux · Apr 17, 2019

Rorie said:
Having just finished a rebuild, i'm trying to get an agreed valuation for my 90's insurance. Adrian Flux are giving me a 'sale price' or 'forecourt' valuation, but i'm trying to get a 'replacement cost' value.

Adrian Flux told me to get an independent valuation done and they'll review this (bit stupid as i paid them to do the valuation...).

So has anybody jumped through these hoops before? Any suggestions on where / how to get the car valued on 'replacement' basis?

Thanks

Hi there,

Thanks for the message and our agreed valuation department are generally flexible as to the valuation placed on a vehicle. However we are continually audited by our underwriters and they will pinpoint a valuation that is out of kilter with the rest of the market. We do fully understand the amount of work that goes into a restoration but unfortunately we can only agree to a market value - i.e the valuation cannot take into consideration the labour cost and hours spent. The valuation has to be realistic of course. If you wished to message me your full name / postcode I will get someone in the valuation department to take a look.

Kind Regards,

Dan

Rorie · Apr 17, 2019

I fully appreciate 'sale price' vs my personal labour costs. I'm keen to get a 'cost to replace' value so that if the worst happens, i will be able to get a similar car and have the ability (finance) to bring it up to the same condition. I thought that was kind of the point of the agreed valuation - to insure the replacement cost knowing that the 'street value' or 'market value' is different.

Adrian Flux said:
Hi there,

Thanks for the message and our agreed valuation department are generally flexible as to the valuation placed on a vehicle. However we are continually audited by our underwriters and they will pinpoint a valuation that is out of kilter with the rest of the market. We do fully understand the amount of work that goes into a restoration but unfortunately we can only agree to a market value - i.e the valuation cannot take into consideration the labour cost and hours spent. The valuation has to be realistic of course. If you wished to message me your full name / postcode I will get someone in the valuation department to take a look.

Kind Regards,

Dan

Thanks Dan - i'll send a PM just now.

agreed valuations

Rorie

Active Member

Hicap phill

Well-Known Member

marjon

Well-Known Member

Rorie

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Hicap phill

Well-Known Member

Disco1BFG

Well-Known Member

Al2O3

Well-Known Member

norseman

Well-Known Member

Adrian Flux

Active Member

Rorie

Active Member

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