Insurance Valuation

[SaphireSpud]

Hello Each, I have read in our magazine about uprating the value of our cars for insurance purposes when insured by RH (the recommended club insurance) by submitting 6 photographs and self declaring the value to be £15000. Is this as easy as it sounds? How much does the premium rise? Can it all be done via e-mail? My insurance only just renewed but would have uprated had I known the details (not explained to me by RH when renewing by telephone just over a week ago!) Regards, John.

[barkerwilliams]

My experience is that the photographs are good enough for a valuation in the "normal" range, which is probably OK for £15,000, but valuations outside the normal range need a little corroboration such as a valuation from an independent valuer or perhaps a valuation from a specialist garage.
Bear in mind there are values for the car -take the cheque and walk away. The insurance company keeps and sells the car to recover part of its outlay.
Valuations including rebuild costs after damage - much higher numbers.
An additional retention fee, a few pounds but in the event of major damage you will keep the car and the cheque, to rebuild or scrap as you choose.

So decide what you want, do you want to rebuild your beloved, take the cash whatever, decide first then approach the company.

With insurance it is medical damage that can cost the companies incredible amounts, bent metal is relatively cheap to fix and realistic vehicle valuations do not attract excessive premiums.


Alan

[DJT]

I’ve had mine revalued using the club scheme only this week. Go onto the club website and open up the interactive pdf file. Fill in all the details and save it to your computer. Print, sign, scan and email to Russel Lewis along with the photographs. He will respond with an invoice for £10 which you pay using PayPal. Within a day or so you will receive the valuation for sending to the insurers. Simples.

[Phil S]

you should be able to do this within the first 6 weeks of the policy for an agreed value, that's the norm with a couple of the companies I have used

[SaphireSpud]

Thanks Each. Something to think about. Regards, John.

[ChrisD]

I’ve just just renewed my insurance after having a club valuation done. I was unknowingly under insuring my car by £6k. My last valuation was 5 years ago. My insurance went up by approx £30 but I have two cars the other valuation went up by £3K. Even thought I had valuations for both cars RH still asked for the six photo plus valuation for each to be emailed, which wasn’t a problem as I just sent the same photos as I used for the valuation. I should point out some of the increase was due to the valuation pushing my Stag into the next price bracket. Personally I think it is worth doing.

Chris

[MandM]

I’ve had mine revalued using the club scheme only this week. Go onto the club website and open up the interactive pdf file. Fill in all the details and save it to your computer. Print, sign, scan and email to Russel Lewis along with the photographs. He will respond with an invoice for £10 which you pay using PayPal. Within a day or so you will receive the valuation for sending to the insurers. Simples.

+1, just renewed mine and had it revalued by Russel due to addition of zf box etc, John you only have to look at the retail prices of what it would cost for you to replace your car.

[SaphireSpud]

Thanks All, yes I have to get it done sooner rather than later. Many thanks for all your thoughts. Regards, John.