David P Posted July 1, 2012 Share Posted July 1, 2012 (edited) My insurance renewal is almost due again and the Supercharger should be fitted and growling at around the same time with the paint job soon to follow. What value should I declare? Full spec here. Edited July 1, 2012 by David P (see edit history) Quote Link to comment Share on other sites More sharing options...
mattdavies Posted July 1, 2012 Share Posted July 1, 2012 I would go for. Price of the car + Cost of Mods + Rough Labour = Insurance cost of the car Quote Link to comment Share on other sites More sharing options...
Tyson Posted July 1, 2012 Share Posted July 1, 2012 I always thought the insured value of the car was what you would expect to get if you sold it. So if you were to sell what price would you want and use that as your insured value. Quote Link to comment Share on other sites More sharing options...
Abz Posted July 1, 2012 Share Posted July 1, 2012 Quote Link to comment Share on other sites More sharing options...
ashbuster Posted July 1, 2012 Share Posted July 1, 2012 so how does this work because my insurer told me they would give me the price for the car and not mods, just a stock car Quote Link to comment Share on other sites More sharing options...
Abz Posted July 1, 2012 Share Posted July 1, 2012 so how does this work because my insurer told me they would give me the price for the car and not mods, just a stock car You have two ways, one where if the insurance company need to pay you out they give you the market rate value of your car. This can vary massively and also they don't tend to account much for mods so they will say this Supra is say £5k we value your car at that. This is generally the normal insurance that most people have to use. Other insurance companies (generally classic or specialist), offer 'Agreed Value' - These basically take into account mods and so forth but they also understand the car has a value attached to it. Here a price is agreed in advance of you taking the insurance out. Quote Link to comment Share on other sites More sharing options...
sammytruck Posted July 1, 2012 Share Posted July 1, 2012 IMO this " value of car " is one of the biggest scams from insurance companies. Most people tend to up the value a little,which they then use to work out your premium, yet if stolen or written off the ins companies refer to the guide and offer pretty much a pitance. From having a bmw 325i stolen some years back, I was told I should have insured the car as above average or concours and furnish the ins company with plenty of photographic eveidence. Your guess is as good as mine..?? Quote Link to comment Share on other sites More sharing options...
ashbuster Posted July 1, 2012 Share Posted July 1, 2012 (edited) You have two ways, one where if the insurance company need to pay you out they give you the market rate value of your car. This can vary massively and also they don't tend to account much for mods so they will say this Supra is say £5k we value your car at that. This is generally the normal insurance that most people have to use. Other insurance companies (generally classic or specialist), offer 'Agreed Value' - These basically take into account mods and so forth but they also understand the car has a value attached to it. Here a price is agreed in advance of you taking the insurance out. i need to change insurance company, ill be going full ridox wide soon and if someone steals my car they will pay me out around 6k even tho with my bpu mods and body kit with all the carbon and the candy paintjob would see me really out of pocket thanks for that bud and sorry for the highjack david Edited July 1, 2012 by ashbuster (see edit history) Quote Link to comment Share on other sites More sharing options...
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