Agreed Value

[Zoe]

Hi
Looking at having an agreed value for my T6. Do you know how I should value it? Will it be the money it cost and what we’ve spent on it or will it be what it would sell for? Or both?
Any advice greatly appreciated as I’m pulling my hair out with dealing with insurance companies. Why is nothing in life easy??
Thanks
Zoe

 

[Beeper]

It's a combination of all the things you state.

I got the glass' valuation price for the base vehicle, then all receipts for the conversion and mods thereafter. I then got a third party independent valuation (Laird Assessors) to confirm a figure (based on all docs provided, receipts, photos etc). Not much money and they also research similar vehicles for sale. They then provided a valuation which was used to support the amount requested form the insurer. An independent valuation makes it difficult for them to propose a lower value. Make sure that the value requested includes any VAT you have paid (insurers will likely try to exclude VAT as part of an agreed value, but push on this and you may get some where - Just Kampers agreed this for me).

 

[Zoe]

Thanks beeper
Everytime I ring and speak to the insurance they tell me something different.
We’ve had our van professionally converted. And I've been told that they will only pay for the parts not the labour. Which I think is unfair as if anything happened to the van we’d be out of pocket and would be unable to replace it like for like, which I thought was the hole point of having insurance in the first place.

 

[Beeper]

That really doesn't sound like an ''agreed value" policy! Who is it with?

Just Kampers (broker, insured with Aegis, I think) base it on cost to replace/asking amount if to sell. Which would definitely include labour cost!

 

[Zoe]

I’m still shopping around for insurance at the moment. I think some of the operators don’t know what they’re talking about as I get one operator telling me one thing then another something else.

 

[Phantom]

I’m still shopping around for insurance at the moment. I think some of the operators don’t know what they’re talking about as I get one operator telling me one thing then another something else.

Hi Zoe

I went to Adrian Flux and initially insured the base van as purchased, 3 months later after my conversion work was done they requested photos, invoices etc and asked me what I thought it was worth and they agreed and upped the policy. They have a form you fill in and send photos / mileage / condition. Note they do charge you for this service, I think about £80 pounds but well worth it.

Kind Regards

Nick

 

[Zoe]

How did you decide how much it was worth?

 

[Phantom]

Worked out what I had spent including labour, spoke to my converter and asked if I was buying it what he would sell it to me for!

 

[Beeper]

Start by just adding up the hole it's put in your pocket! Van, conversion, everything.

Just Kampers was a 15 quid processing fee, then I paid an additional 80odd to raise insured value from 19k to 39k.

 

[Gavandi]

Hi Zoe

I went to Adrian Flux and initially insured the base van as purchased, 3 months later after my conversion work was done they requested photos, invoices etc and asked me what I thought it was worth and they agreed and upped the policy. They have a form you fill in and send photos / mileage / condition. Note they do charge you for this service, I think about £80 pounds but well worth it.

Kind Regards

Nick

I used Adrian Flux and added the guaranteed value to premium.
I used the invoice from the purchase of the van with all the extras and the final invoice from conversion.
Pics as @Phantom says etc.
All sorted and happy