Agreed value insurance

mbz 6

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I own a very rare car a Brabus 190E 3.6 24V and I haven't changed the agreed value in the 8 years I have owned the car.
The asking prices for the Evo 190s and cosworth one's have been going up so how do I get a reasonable value for mine.
 

jaymanek

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With my insurance company, I have pretty much picked a figure and they have agreed to it.

In your case its very difficult to value. I guess the only thing you could go by is how much it would cost to own something else as rare in your eyes.
 

bolide

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When my TR4 was insured with Footman James they'd accept a valuation from a garage that hadn't worked on the car or one from an official of the appropriate car club

Nick Froome
www.w124.co.uk
 
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Will

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Could you get someone from the MB owner's club to perform a valuation?

If it really is 'the only one', it'll be very difficult to put a price on it, as there's obviously no other examples for sale to compare value to.

I think other Brabus 80s models, and some of the special 190s would be a good starting point, along with some detailed photos/history of your car.

Purely out of interest, what sort of value do you feel it is worth (if you didn't own it, and it was for sale - how much cash would you actually pay?)

Have said it before - nice car btw! :)

Will
 

CE230

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My policy with Esure states 'Market Value' so any additions such as better alloys, repaint, bodykit etc will be taken into account. Surely this is a better option than an agreed value?
 

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jonnyboy

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My policy with Esure states 'Market Value' so any additions such as better alloys, repaint, bodykit etc will be taken into account. Surely this is a better option than an agreed value?

It couldn't be worse, actually, as it gives no protection against the insurer offering "banger money" for an old classic. Classic car policies per se are delt with by specialist depts at the company who know the market. You can change the vaulation at any time as long as the classic insurer will agree to it and you pay any premium difference. It's a lot easier to prove value if the car can be seen by an expert, as opposed to after its been written off (stable door open, horse bolted etc...).

Example:

you have a w123 saloon which is a full resto.job, done by your mate so not really much in the way of receipts. You are yet to take some photo's and the car gets nicked not recovered (prob.on its way to Africa in a container). the insurer looks at the paperwork and says "ok its a 25 year old car with 150,000 miles on the clock". They then look on autotrader and see you can pick up a few of them for around a grand (in variable condition). You believe yours is worth £5000. The onus of valuation proof is on you the customer not the insurer who never saw the car. How do you prove to them its worth £5k bearing in mind there are 20 or 30 advertised at £1-2k? With a classic policy the value is protected up front, what you agree is what you get........
 

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