Insurance and CAP valuations

[Ashtons99]

I was interested to read the cap valuation on an average mile Trophy. It's round about £1600.

Of concern is that insurance companies use this guide and others when looking at pay out and repair values on cars. Ok you may not get the car stolen or a total loss but if it is involved in a bump needing much more than a few panels painted you could end up in catD territory with your car.

Im as guilty as many no doubt in that I've just gone with my usual company, no "classic" insurer or agreed value. I do know though that it would be an uphill struggle to squeeze the actual purchase price of my car out of my insurer or likewise convince them to carry out a repair costing them much more than £1000 !!!

I know now there are a couple of companies on here offering specialist insurance services but how many owners actually do take this up.

One more reason to drive carefully I suppose !!!!!!

 

[Claude]

You can drive as carefully as you like but you have no power to stop someone ploughing into you while you're stationary at traffic lights.

Greenlight offer an agreed value service with some cars in £6k+ territory.

I couldn't imagine the pain of dealing with an insurance company who think it's just a regular 182. An agreed vale policy mitigates that risk.

 

[Mikeyjp]

Cap valuations do not recognise the trophy as a special edition, and therefore they value them at cup prices

 

[Saint27]

Sorry Mikey , but CAP does recognise it as a special edition (along with the Extreme and Rush).

Current CAP valuations for a 55 plate Trophy with 84000 miles (for retail) £3125, it gone up £75 in December!!!
For comparison a 182 Cup is £2825, 182 £2825 both have gone up £50. A trade in price would be similar to £1600 as mentioned at the beginning of the post.

 

[MarcB]

Im with green light and like whats been said they know exactly what a Trophy is and what sort of price parts are (Suspension, Seats & So On)

Green light do an agree'd on the car and it can range from £3000 to £7000 as each car is different.

 

[Ashtons99]

I know what you mean. I was reading the article on the stolen recovered one, Keith Waters #459 and the performance he had trying to get paid out much over £3500.

 

[Miller]

It is a tricky one to go on market value or agreed value is always the best way to go.

 

[Mikeyjp]

Good to hear this , might make it easier to get a good valuation, i know when i nearly wrote my T off, i had a hard time just proving it was a T, the valuation guy must have been an idiot

 

[Miller]

You do get them lol, but in fairness to them they are used to dealing with normal bread and butter cars

 

[Ashtons99]

I insured mine today with Neil at Greenline. £240 with was only £30 more than with Priviledge who work on market value whereas I'm on a £6k agreed value. They seem very good to deal with.

 

[Karltrophy]

I insured mine last week with Neil at Greenlight, great to deal with and £5k valuation on my Trophy, a little more than the last company however Milltek exhaust now covered, happy days!