I know the subject of value is a contentious one, however I need to know whether it's worth updating the agreed value on my insurance. It's currently at GBP 5k. I have a 1990 S2, 113k, new tyres, approx GBP 7k spent on it in last 5 years, inc belts, cam chain/tensioner, sills work, etc. Looking at other cars for sale atm I'm thinking 7k now? Does that seem reasonable, likely to be accepted by ClassicLine?
Updated agreed value
- Thread starter Ru2S7
- Start date
pauljmcnulty
Active member
Hi Russell,
I'd certainly think £7K was nearer the mark from what you describe, it's what I put mine at. I'd call mine a long way off concours: it lives outside and does a lot of everyday driving. It's certainly not pampered, rarely even washed TBH.
Things like servicing and tyres don't really affect the value. Proper restoration, perhaps an engine rebuild or the sill work you mention, will be considered increasing the value.
Ultimately, you know your car. Take a trawl the the classifieds to see where similar cars are being pitched and that'll give you an idea of what you would need to pay to replace it. Ignore the really silly asking prices though, as there is always someone trying it on.
Classicline have been great for me, and I can't see them having any issues with an increased valuation.
I'd certainly think £7K was nearer the mark from what you describe, it's what I put mine at. I'd call mine a long way off concours: it lives outside and does a lot of everyday driving. It's certainly not pampered, rarely even washed TBH.
Things like servicing and tyres don't really affect the value. Proper restoration, perhaps an engine rebuild or the sill work you mention, will be considered increasing the value.
Ultimately, you know your car. Take a trawl the the classifieds to see where similar cars are being pitched and that'll give you an idea of what you would need to pay to replace it. Ignore the really silly asking prices though, as there is always someone trying it on.
Classicline have been great for me, and I can't see them having any issues with an increased valuation.
cococola
New member
I have had an agreed value of £5500 on my 1986 Lux until this year and I have now upped my value for £7500.
I know on todays values the car is over valued, however considering its condition,history and value to myself I feel that the higher value is more near the mark.
Plus 10 years ownership cant be replaced.
I know on todays values the car is over valued, however considering its condition,history and value to myself I feel that the higher value is more near the mark.
Plus 10 years ownership cant be replaced.
Waylander
Active member
just updated my old banger 968, sent a wad of receipts and photos to Adrian flux
now set at £10,500 143,000 miles
the big decider on value is what would it cost you to replace it, then have all the work done again, bit more than 7K I would think.
don't think I would break even at 10.5 and its the same for you at 7, the more we value the cars to the insurance companies the easier it will be to get what its worth for us all.
Just looking at Paul Ruddy's car that would have to be agreed at 20K at least
now set at £10,500 143,000 miles
the big decider on value is what would it cost you to replace it, then have all the work done again, bit more than 7K I would think.
don't think I would break even at 10.5 and its the same for you at 7, the more we value the cars to the insurance companies the easier it will be to get what its worth for us all.
Just looking at Paul Ruddy's car that would have to be agreed at 20K at least
My 944 was valued by my insurer at £14k to replace. That's the key- how to replace a car that's in virtually as-new condition. It is very difficult to find anything comparable on the market.
Paul - do you really only value your car at £7k? I know you don't want to get into a PH situation where every thread is about values but you could be a little more positive. Granted, £7k might be your sale price but somebody would be getting a steal for all the work that's gone into it and doesn't correspond with the actual cost to replace it.
I'm about to put my agreed valuation in and I've looked at the cost of replacing the shell and all the modifications and additions and come up with a "cost to replace" value - annoyingly it was near as dammit what MartinRS2K said as a ballpark figure. Whether it comes back as that remains to be seen.
I'd hate for someone to have a car written off and then find that the guaranteed value payout only puts them in a baggy rotbox that needs all the work doing again.
I'm about to put my agreed valuation in and I've looked at the cost of replacing the shell and all the modifications and additions and come up with a "cost to replace" value - annoyingly it was near as dammit what MartinRS2K said as a ballpark figure. Whether it comes back as that remains to be seen.
I'd hate for someone to have a car written off and then find that the guaranteed value payout only puts them in a baggy rotbox that needs all the work doing again.
pauljmcnulty
Active member
Yep. If I listed work that needs doing it's be another £7K again!. That's why the near-perfect cars are worth a significant premium, and make a better buy.
Remember that putting money in to a car doesn't necessarily increase the insured value. Whilst having a complete history counts towards the car's desirability, having had the screenwash topped up last month doesn't. General servicing might seem a lot of money to put in to a car, but is different from restoration.
Most of the work I've done is maintenance. Whilst having new tyres is nice, but the insurer won't necessarily have to replace my car with one that also has new tyres, and I'd be silly to expect them to. Realistically, the everyday well-used "scruffy" cars haven't shot up in the same way that the low-mileage concourse cars have. £7K is a pretty good increase on the just over £4K I paid for it 6 years ago IMO, and in line with the market I think.
timmyturtle
New member
My cabby is at £7k. Spent £3k on it in last year inc engine rebuild
ghost
New member
How/who do I get a PCGB evaluation?
My 944s2 has just come out the bodyshop after some welding and a full respray in its original Guards Red. Looks stunning and is completely original, all numbers and options match the Porsche COA.
I have a massive history file going all the way back to the initial supplying dealer, Chariots of Oxford (Kiddlington) on 15/01/1990. The interior is the rare black sports leather option, everything is spot on and works as it should.
During my 5 yrs of ownership I have spent a fortune on Porsche genuine parts like rubber seals, fuels lines, clutch, radiator, brakes, glass, etc.
I'll add some photos later.
My 944s2 has just come out the bodyshop after some welding and a full respray in its original Guards Red. Looks stunning and is completely original, all numbers and options match the Porsche COA.
I have a massive history file going all the way back to the initial supplying dealer, Chariots of Oxford (Kiddlington) on 15/01/1990. The interior is the rare black sports leather option, everything is spot on and works as it should.
During my 5 yrs of ownership I have spent a fortune on Porsche genuine parts like rubber seals, fuels lines, clutch, radiator, brakes, glass, etc.
I'll add some photos later.
pauljmcnulty
Active member
Hi Marcus,
Simply give the office a call and they'll sort it out for you.
Simply give the office a call and they'll sort it out for you.
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