Insurance valuation question

[campagquinn]

Insurance time is coming up and I need to co.e up with a value
Last year it was a builders van 2021 white 85k miles. Full service and under vw warranty still. And after speaking to Howdens we agreed a value of 20k as I said what I planned to do.

Fast forward to now and it's a fully converted camper.
Pop top
Rib bed
Twin captains chairs
Solar 200w
Navis twin 5's 20's
100ah lithium
Lots of blue victrom
Mains Hook Up
Basically everything apart from diesel heater
So what do I say is the value this year ??

Don't want to under price it and be gutted if something happened

Thanks in advance

 

[Bargy62]

@campagquinn use the conversion invoice to add the extra value

 

[Johny]

I came up with a price I'd be happy with, added 4000 and the insurance came back with my original price.

 

[Bargy62]

@campagquinn use the conversion invoice to add the extra value

And make sure it's an agree valuation on paper or your only get market value for the van as a van

 

[campagquinn]

@campagquinn use the conversion invoice to add the extra value

I have all the receipts from the conversion as it's been a home build.

 

[campagquinn]

If i was to put a price on it I'd say around £33,000. But am I in the right area. I dont want to under value it

 

[dubber36]

You need to base your insurance valuation on the retail cost of buying a replacement.

I upped the insurance valuation of my Mk2 Golf from £10k to £20k just because some were selling close to that at auction. It made no difference at all to the premium.

 

[64 SPLIT]

As dubber36 suggest - look around online and see what a like-for-like replacement would cost you should the worst happen. Obviously there will be differences but try for same year / model / spec and if you believe yours is worth more for whatever reason add that on. Take details so you can prove your valuation to the insurers should they ask.

 

[Bav]

As dubber36 suggest - look around online and see what a like-for-like replacement would cost you should the worst happen. Obviously there will be differences but try for same year / model / spec and if you believe yours is worth more for whatever reason add that on. Take details so you can prove your valuation to the insurers should they ask.

Probablt better off to find a like-for-like base van and then add your own conversion costs on top of that. Probably provide more comparables, plus removes some wriggle room for insuers as they can't as easily quibble about the quality/extent of the conversion you're comparing against.

 

[drinfinity]

I provided all the invoices for the various conversion elements + base van price, and JustKampers agreed it no questions.