Agreed valuation

[Mickey C]

Hi all
I'm using my moke for everything at the moment but I live in a car crime hotspot! I do also think that despite the precautions I take, a moke must be 1 of the easiest cars to steal which alongside the increasing price of mokes, leads me to ask if the club offer an agreed value service? I saw a thread from 5 years ago on a similar theme but can see nothing since. I have heard many stories of insurance companies not paying current market value leaving the double whammy of a) having vehicle stolen in 1st place & b) not getting close to true value when the
claim is processed!
Other vehicle owners clubs I belong to offer a service that when provided with photos, evidence of spec, condition etc. an agreed value is provided by someone more 'in the know' & impartial than an insurance provider. Obviously a cost for this service is required but I'd like 1 if such a service exists or could be created?
Mike

[Nigel(no top)Sykes]

When I insured mine I simply looked at the prices that were being asked on various sites around the web and came up with a figure that I thought would be about right £10,000). I then put this to the insurance company and they quoted me a premium based on an agreed value. Simple really, and no need to involve anyone else

[grantourer]

Hi Mike. I did exactly the same as Nigel, no problem.

[Drake]

Just remember it's not what you can find them for sale at. It's what it would cost to replace like for like. So for example, if you spent £20,000 rebuilding it but the market stated that they were worth £15,000 and you agreed a value at £15,000 - thats what you would get £15,000 so basically £5,000 out of pocket. Remember you pay the premium on the agreed value so need to get the return if required. Remember to always ask for salvage rites as well..
Works the other way too, so if you have bought a car for a damn good price say £5,000 - what are the chances of that same deal happening again in the event of a loss? SO you need to be looking at what it would take to replace like for like not what you bought it for yesterday or 10 years ago.
Club valuations are always a good idea as they add value to any claim but be relalistic. If the value is grossily overestimated it may come back to bite you..

On this very subject I was wondering how I go about valueing my Cub - how do I replace that as i've made it pretty much unique? It will never be worth as much as a Moke but still has a value (especially given how much Mokes fetch now)

[Mickey C]

I don't won't to be a harbinger of doom but I have read quite a few accounts (& got no reason to doubt as posted as cautionary tales / advice) that although it states same on insurance policy, insurance companies (unsurprisingly) try to undercut this figure! I had a lorry plough into the family car & despite a battle, got much less than I'd expected / hoped!
The advice on these other forums is that independent, specialist valuation strengthens your argument when insurance firm offer what they see as replacement value.
I might be worrying unduly & also appreciate any such valuation would need re-doing every few years if market values continue to increase. I guess the anecdotes I've read make me doubtful that cash will just get handed over without issue. Any insurance brokers own a moke & can offer an 'industry' view?

[Jersey Moke]

Hi

I have my Moke insured with an agreed value. I got Ron Smith at Runamoke to do me a letter with the agreed value on it when I finished restoring it 7 years ago. I had to get him to re-value it after 5 years to state that it was still that value. I guess that way there is less argument should anything ever happen to my Moke. I would speak to your insurance broker first...

Nick