Insurance Renewal for 380RS

[-G-]

So I've had the 380RS nearly a year now and my insurance is due for renewal next month. I'm currently with Adrian Flux on an agreed value deal with 8 years NCB - have a few questions for our insurance traders on renewal.

 

The valuation of the car was based on receipts & exchange rate at the time of purchase, which is fair enough - due to the slump in the £ & increase in value of this particular model, to replace the vehicle like-for-like with the same agreed valuation would be impossible - therefore my primary question is, is a revaluation of the car carried out as a matter of course or do I need to request the underwriters take a look at it again?

 

I already looked to getting a private valuation from Julian Schoolheifer & other automotive specialists but they won't commit to carrying out a valuation on it because of the age / lack of data available for it.

 

Thanks in advance for any feedback

[ZMANALEX]

Gary,

 

I think that you are on the right track with a private valuation from a company that specialises in this sort of thing and that is the way that I would go.

 

I had to do this with the Escort Cosworth, however no exchange rate issues with the Ford, however due to the regular increase in values of these cars I have had to get a fresh valuation each year.

 

Hope this helps.

 

Alex.

[KyleR]

Rare car values fluctuate, so 100% get them to revalue it. I would doubt they would do it without being prompted, though.

[Jetpilot]

Unless you think its value in the Uk has increased, the exchange rate from then to now is immaterial. I appreciate if someone wanted one, they would have to go to Japan, but it doesnt necessarily make yours worth more in the UK imho. If the exchange rate shot up and yours would have effectively cost you less from Japan, would you lower the value on the same basis?

 

Totally agree with an agreed valuation though, but i really dont think the fluctuation in the exchange rate is the key element.