Valuation for insurance
 

Hi all. I am at the point where I can get my 250 mot'd I need to ring the insurance company and wanted to know what valuation the car would have. Any ideas or what do you guys tell them?

WorldClassAccident as president of the world famous "Tribute Owners Club" was doing valuations, drop him a PM.

All depend on the standard of finish and engine size.
Smash's sold for about £25K, Casamolias up on Ebay for £26K
Nice silver one up on Classic & Sportscars for £42K
There have been some awful examples selling for around the £10k or less mark.

Cheers for that, well the next instalment of the saga is that I ring the insurance company up to tell them I'm ready to get on the road and they have invalidated my insurance on the basis of me putting the body on and also said I'm not allowed to spray it!
I'd explained when I took the insurance out my plans and they said would be fine so a complaint has gone in.
Anyone any pointers on insurance companies that are good with kit cars?

Same happened to me- bought donor, described plans, sent them pics when it was done, insurance cancelled.

I use A-Plan.

They were more than likely insuring a standard Z3 to start with. With the new body fitted it is effectively a different car so it would need to be re insured with its new details. If you are with one of the kit car specialist insurers it shouldn't be anymore than a paperwork exercise.

Cheers chaps. I'll get on to some companies today. It's a right pain though. I'll have to post pics of the progress on the car too.

I have insured my son's Z3 2.2 with Adrian Flux. It has been insured as a Tribute rebody but has been clearly stated that it hasn't been started yet and will be run as standard for a couple of months before starting the conversion.
Was cheaper to insure it as a Tribute than as a Z3!

I've just renewed my insurance with A-Plan.

They were happy to ensure it before I got it on the road.
( Although it had to be over 90% complete first due to the 'alfresco' nature of my build. :rolleyes: )

They agreed a value when it got on the road while still in grey primer.

They have agreed an increase in value now that the car is painted.

They just require a specific list of photos to go with the valuation.

Hope that helps, Paul. :)

PS
I agreed to a limited mileage policy, but the mileage limit can be exended if required.

That's all really helpful. Cheers.
If I insure as a tribute what does that entail?just telling them or do I have to 're register the car or something? . It's all new stuff to me.

You just tell them what it is now and what it will be when it is finished. You can't change the name on the V5 until it is (almost) finished.

I wouldn't worry too much about the description of the car on insurance documents.
There was a rumour going around a while back that if the description of the car on the insurance documentation did not match that on the V5C the insurance was invalid. This worried me as, of the cars I had at the time, only my Ford Mondeo had matching descriptions, so I checked with my insurance company and they confirmed that my car insurance was based on the registration number and not the car description.
If you go with one of the recognised Kit car insurers they will be familiar with your type of vehicle.
I would phone around to get the best quote, how they assign a particular premium is a mystery to me, I'm currently with A plan and Graham Sykes but I change providers almost every year as I can usually get a better deal elsewhere.

It would be wise to declare your intentions however. If you're with a high street insurer the chances are they don't insure kit cars and you might well get problems if you had to make a claim post conversion.
A Plan seem to be one of the few high street insurers that will offer insurance for kit cars.

Looks very nice, 2.0 will knock the price I suspect. Wheels and tyres as the advert says are a bit too big and not a fan of the flared rear arches.
Interior looks nice.

It looks really good, yes the tyres are a little large but that doesn't detract from the overall finished car. I would suggest the price is at the lower end of what could be achieved but spot on for a quick sale. If I was the seller I would approach Richard and ask him to sell it for me, he seems to have all the connections to get the best price !

I am sure people have already mentioned Adrian Flux (who I used for my MX250 pre-paint), they did me 220 quid on 5000 miles a year. Currently insured with EA Davies (Northern Ireland based company but may cover mainland GB) who did me a 3000 mile policy on a 10K valuation with legal cover and breakdown for 150 quid. And when I said 'MX250 they knew exactly what it was, they guy even said 'Is that the Ferrari rep?'

I use d A Plan , there is a fella who works at their Bracknell branch called Henry who specialises in kit cars and attends Stoneleigh on a regular basis so is clued up on the different suppliers i paid £125.00 fully comp for my 250GTO (yep i know I'm old) and he even took the photos for the agreed value while we were at Stoneleigh for me

he's worth a try

Is your complain via the ombudsman? It's maybe worth asking for the tape of the original 'phone call - they say these can be used in evidence- so it works both ways?

I would, except they don't seem to have a Bracknell branch in their directory...

https://www.aplan.co.uk/branch-finder

try 01635874646 and ask for kit car dept Henry
good luck

That would be their Thatcham branch that I normally deal with anyway.

My renewal came through at £280.

So I called them today and and they quoted £148 (includes business use) and then knocked off another £20 when I let them quote for my house insurance- result!!!

Thanks for the info- a beer is waiting.