Valuation for a 16v MK2,H Reg, renovate or break??????

[beechymonza]

Thats exactly what i wanna do. Tryin 2 get some original wheels an stuff, An i got the original indicators in my shed, But i still gotta couple of scratches an stuff 2 sort out this year,
I got all the reciepts from everythin fixed an changed from new, If thats any gud,

[VeeDubGTI16v]

theres no reason mods cant have an agreed value. i would have thought thats the idea of agreed value policies, for cars that are worth more than the average car, be that because of condition or money invested into them

resale value is a different thing

[kmpowell]

theres no reason mods cant have an agreed value. i would have thought thats the idea of agreed value policies, for cars that are worth more than the average car

resale value is a different thing

Sorry - my bad, I should have explained myself. I was referring directly to his question of "How do you get a £5k agreed value?". You are right, there is no reason why he wouldn't get an agreed value in that condition, but my point was it would be significantly higher if it were original (like he plans).

[VeeDubGTI16v]

what about if he has spent 6k on mods?

[kmpowell]

what about if he has spent 6k on mods?

It won't make any difference IMO - high value Golf 'Valvers' these days are original and unmolested. 6k's of enhancement mods in one persons eyes might be 6k's worth of chavvy bling in another's. Mods are very subjective, where as originality is... errrr.... well, original.

[VeeDubGTI16v]

this is my point, for insurance purposes you value to what the car owes you. if you were to crash the car you claim the money to build exactly the same car. Isn't that the idea of agreed value policies?

you are thinking of resale values

[kmpowell]

this is my point, for insurance purposes you value to what the car owes you.

Not at all. Agreed values are on the value of the car, not what it owes you.

Hypothetically if I were to find a 1mile barn Golf 'valver', in its original factory wrapping etc etc (you get the idea!), and I buy it for £500 from the owner who has no idea what it's worth, I'm not going to insure it for £500 am I!!!

I paid a lot less than £5k for mine, but that's what it's insured for, 'cause that's what it's worth if I had to - god forbid - replace it.

[VeeDubGTI16v]

but your car is worth 5k 'to you'. barely anyone would pay 5k for a mk2 golf. therefore its in the same category as a highly modded car as the valuation is subjective

your not getting the idea of agreed value insurance. its not there to value your car for sale, its there to recompensate you so you can replace your car like for like

[Horney]

but your car is worth 5k 'to you'. barely anyone would pay 5k for a mk2 golf. therefore its in the same category as a highly modded car as the valuation is subjective

your not getting the idea of agreed value insurance. its not there to value your car for sale, its there to recompensate you so you can replace your car like for like

On the button there mate.

Some of the show cars over on edition are insured for values in excess of £10K (this is MKII's) but no one in their right mind would pay that for one of them. The agreed value policy is there if you need to replace the car.

However classic agreed value and modified agreed value policies are AFIAK slightly different. With modded cars you have to provide all the paperwork for mods to prove the costings. With a classic it's just that's it's a rare and hard to replace standard car.

So in fact in a way you are both right.

Nick

[kmpowell]

but your car is worth 5k 'to you'. barely anyone would pay 5k for a mk2 golf. therefore its in the same category as a highly modded car as the valuation is subjective

your not getting the idea of agreed value insurance. its not there to value your car for sale, its there to recompensate you so you can replace your car like for like

I'm going round in circles here with you, you clearly have an opinion that can't/won't be changed, so let's just agree to disagree. People do pay that amount for MK2s, hence the agreed value. It's irrelevant how many people do, it's the fact people do.

Agreed values on classic policies are not there for people to put a set of barry bolt on wheels on and then claim that money back should they stack it into a row of shopping trolleys whilst performing handbrake turns in Asda carpark. They are there to reflect current market values on modern classics that are rare. I have a friend with a mint original S1 RS Turbo Escort, which now fetch in excess of £8k, so his agreed value is around that amount. I'm sure you disagree with that too.

Oh, and you saying things like "your not getting the idea", is very condescending.