insurance value

[Valcuda]

I think I need to upgrade the insurance value of my RHD Valiant Barracuda. I don't use it much nowadays but it's in reasonable condition. Because it's a straight six, I can't really compare it with the prices I see on this forum for most people's cars! I'm sure its uniqueness doesn't count for much when it comes to cash considerations. Should I tell Footman James that I think the car is worth £10K, or £15K, or whatever, or do I have to go down an official route, getting visual inspection and paperwork from somebody (but whom?)?

[Dave999]

I'm not fond of footman James. just seemed to hike the premium by £40 every year

i went with a different bunch called Heritage Insurance Brokers (Wton) Ltd

I had to tell them what i thought it was worth. I backed it up with some detail off "Unique cars Australia" website who do a "state of the market" report on each Aussie classic every year or so.
they cover off barracuda as well but probably not much use here
https://www.tradeuniquecars.com.au/buye ... ket-review

the broker seemed happy based on that and i now need to provide six pictures dated and signed by me

should all then be ok.

On an ABC scale, if it runs drives and is presentable, an older restoration, its usually classed as condition B
condition A cars are show cars near concourse condition
condition C ares are projects potentially not MOT-able or will be failing in some way on a roadside near you soon.

your car will be A or B from what i remember and its rare, how much would it cost to replace it like for like...

The only person i know, who was thinking of selling a RHD barracuda is a chap called frank, i don't have contact details for him. but Blue will,
what he values his v8 version at, may help you with yours

£20K rather than £10K

you are more likely to be queried if you undervalue....they really don't like that at all. seemingly flags you as a dodgy geezer straight away. there must be some scam, they are looking out for.


since i last had mine valued things seem to have changed, in the past you needed it appraised by someone considered an expert in the marque
we all used Tony O RIP. always good service, upstanding gent, loved a RHD barracuda..

now insurers seem not to like an expert in the marque, because an expert in a specific type of car supposedly has a vested interest.
This discounts most of the "experts" because they are either in the car business, in a club or write in publications and books about that marque.

it all seems very silly

mind all of this came from the one broker i purchased insurance from recently, so it could just be his view, but he was pretty adamant that my own valuation was unlikely to be challenged, and if it was, i would have no part in choosing who inspected the car as the insurers now like to do that.

i was told if my car pictures were not good enough or the insurance company disputed the value (do not undervalue, it has little or no impact on insurance premium, was his advice) I would be asked to take my car to a independent garage, of their choosing, local to me , to get it inspected. Given that a local garage won't have a clue, this must be an "Is the car legit?, does it exist?, has it got a chassis number that matches the paperwork, is the chassis made from bean cans" type check.

Your car is a rare car, its slant 6 ness only impacts its value with V8 motor-heads, Not anyone else. how much would it cost to get another.....?

check my recent insurance thread... lots of guys posted up places that had got them a good deal, all worth checking out

phone up, have a chat, explain the problem, no harm in getting a quote for agreed value at 20K and 30K. the whole point is. if you need to replace your car, if all you can buy is V8 LHD versions at 18K well, you are covered for getting it inspected and purchased and delivered.


remember in most cases they don't care about the car they are just offering to take a risk, most cars, of 1-2 years old, on the road,,if written off are going to need a bigger pay out than £20K. They get driven every day. They know you only drive yours a few times a year.

They'll take the risk, once they have taken £100-200 from you. that they won't be paying you anything this year, and next year etc etc. But if you do Bananarama! or it gets written off, they'd rather pay out the value of 1/2 an Audi or BMW than a full one i.e you are a good risk not a risky risk


in many cases they'd rather write off your barracuda than a modern daily driven family car... costs them less so may as well get a decent value on there



Dave

[cadboy]

Insurances like RH you put the value you want and they insure based on that value.

They call this AGREED value, but may not pay you all of it if something happens.

I would say you need to be in 15K to 20K side for a Barracuda pre 1970.

[Pete]

PM sent!

All the best.

Pete

[Stu]

Having that /6 in it may well surprise you on the value. Try finding another one that hasn’t been converted.

I wish, looking back, we’d never made the decision to swap to V8 all those years ok, one of my biggest motoring regrets…

[Dave999]

Having that /6 in it may well surprise you on the value. Try finding another one that hasn’t been converted.

I wish, looking back, we’d never made the decision to swap to V8 all those years ok, one of my biggest motoring regrets…

dont be sad stu just suffering "mid project why the hell did i bother, this is just infuriating..... derived depression" light, tunnel, end, good ...oooh its got a bit more poke NOW...... smile

Dave

[Valcuda]

Thanks guys for all your interest and especially Dave for a long consideration of the issues. About 30 years ago I considered getting a valuation from Tony O. but for some reason or other, I never actually did. I sent a PM to Pete Wiseman just now but it seems to be stuck in my outbox at the moment. I don't know if it will go eventually.

Briefly, the answer to Pete is yes, I'm interested.

I've tried comparing quotes on-line but my registration keeps coming up "car not found" on classic car insurance company websites even though the gov.uk website finds it! So I may just phone FJ, ask for an increased value and pay the required premium.

[MattH]

The MMA will soon be going ahead with a valuation service, now that Tony O is sadly no longer with us.

There is clearly a need for this, and we are just trying to put the final details together to get a service up and running, similar to what Tony did with TOVA.

We will update soon with more information, but to do things right takes some time and planning!