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what price do concourse travellers get insured for
Posted: Sun Aug 14, 2011 10:41 pm
by irmscher
just wondering how insurance companys put a value and how much???
Re: what price do concourse travellers get insured for
Posted: Fri Aug 19, 2011 12:57 pm
by Ian46
As you can see from my signature I am building a kit car at the moment and have arranged 'build' insurance with a specialist insurer covering fire and theft whilst it is under constrcution. As the work progresses on the car it is gaining in value all the while so I report to the insurance company when I want to increase the value of the vehicle and they tell me what the additional premium cost to do so. The more value you want to cover the more expensive it is to insure.
I imagine for a concours Minor you will have to get a condition report with photos (probably from the MMOC or approved specialist) to prove 'worth' (agreed value) and then let the insurer know what mileage you expect to travel in a year so an appropriate premium can be charged.
Regards Ian
Re: what price do concourse travellers get insured for
Posted: Fri Aug 19, 2011 1:15 pm
by chickenjohn
irmscher wrote:just wondering how insurance companys put a value and how much???
There may be someone in your local branch who can value your car and write a letter that the insurance company will be happy with as a representative of the Morris Minor club.
Re: what price do concourse travellers get insured for
Posted: Wed Nov 02, 2011 9:36 pm
by littleblackflash
I used Footman James who stated I could insure a moggy for upto £15,000 without an independant valuation. So I entered £14,999 which was excepted.
This year they would only renew the policy if I had an independant valuation. This came back as £14 - £14,500 so they excepted my valuation.
These values are based on how much it would cost to buy a similar one, or buy a good car and rework it into the standard of mine.