With all this talk about how much vans are worth Im now wondering if i need to get a proper valuation Ive got a agreed valuation of 10000 And i think i would be lucky to sell it for that. but ive spent more than that on it and to replace wot ive got would be more than 10000 so how do i go about getting a true written valuation
Bit of a mix really - weigh up what you have spent on it and have a look see what a like for like replacement would cost you. You can also send the insurance company pictures and full details of work carried out and they will tell you what it is worth- what they would pay you to replace it.
Put it up for sale on offers , keep every offer you got noted , do the "average" calculation ,that's the buyers worth, also there is the valuation by expert valuation , then the Ins. pay out price (devil being in the detail ..and all that)
One things for sure they won't accept a value based on what you've paid for work on it. Just guess, push it and see what they say.
theres usually a limit above which you would need a profesional valuation. Mines insured for a couple of grand more than yours and to be honest I couldnt draw that on the market. That said should I want to replicate what I have then I might have to pay more than that. One wonders that when restored buses from dealers are coming out at 20k plus then how much they are insured for. If I restore mine and it gets totaled or whatever I then I would expect to walk into a restorers and buy one there and then with the pay-out based on what I believe it would cost to restore to that standard subtracted from the cost of a restored bus fresh from the shop then it probably about right.
insurance will value the price by the added parts not the cost of the labour to fix or install the parts, "me knows , me had problems with em " lol
Don`t you think these high valuations will temp people to maybe to just think it is a source of quick easy cash? [ie set fire to it in a field especially if your having problems with it].. If you have a bus and you paid £18,000 for it then value it at that price even though you paid too much ,it is verging on ridiculous.. They has got to be some depreciation...? will insurance companies start sending independent valuers out....? I just see in the future High valuation = high liability =high insurance costs...
Mine is insured at £13500. I paid 1k less than that for it but the PO had a valuation and as I went with the same company and posted them a copy of thier own valuation they couldnt really say no. I have spent a good amount on it since though.
ive probley spent 20000 on it with all the mistakes and changing my mind ive done thanks for all the replies i will have a word with my insurance company and see what they advice
Hmmm...Interesting...Mines got a agreed valuation of £14,000...it didnt cost me that, but apparently,'cos its a 'Late Bay' but a very early one, its tax exempt which puts it in the 'prototype bay' catagory because no road tax is needed, hence it is apparently worth more than a late bay which isnt tax exempt as its something else that hasnt got to be paid for to actually use it anywhere in the world on the road.(or something like that.)...But at the end of the day,if you want something,and you have the spare money,then you will pay for it.
Mines agreed value is £15k in never worth that but i put it in with 6 photos just to see and they agreed So temped to put a match to it
