Valuation For Insurance

[Kettmark 0]

With the recent increases in 205 values, I was wondering how to obtain an accurate valuation for my 1.9 insurance.

Can anyone offer some advice please?

It's a 1989 graphite grey with factory roof. 81k miles, 2 previous owners, service history. I've owned it for 20 years. Very good condition throughout.

[j_turnell 137 3 Cars]

Not sure how I have never seen this on the road. I'm only 5mins from Kettering! I'm pretty sure you can speak to the Peugeot Sport Club to get a valuation. I've got an agreed value of 5k on mine but mine is heavily modified, not a standard low mileage example like yours.

[Alan77 78 1 Cars]

Mine is at an agreed value of 5k, 89F in good condition, 6 owners and now approaching 200k miles.

Sounds like yours could be valued at more, and given the recent examples that have been sold or are currently around, between 5k-10k could be a reasonable guesstimate imo...

[Miles 331 1 Cars]

As above you need to join the PSC really, Henry on here might be able to point you in the right direction or if not a member a charge is payable for it, well thats what my Dad does for his Club car's (But we talking 1930's)

[ATK 143 1 Cars]

5k agreed value on mine

 

Get some pics up

[dcc 855]

Its a funny question to ask, but the easier way to answer would be to ask "How much would it cost you to replace what you have?" -

 

For example, the ECU in my car would be 800, the loom 200, bodies 650, inlet 200, engine itself would be 1500-2000 to build, then 350-450 mapping, then suspension would be 1500 ish, seats probably 5-600 now, carpet and dash similar, shell probably 200-1500 for similar. Thats a very rough list and prices.

 

Now to look at my car has been dubbed 'a £500 boy racer banger' by the guy who recently spent £20k on a half decent restoration of a 205.

 

To replace my car in reality I am looking at £10k, to replace his you could do it for £1500 to 5k, then end up spending £20k again on new parts and painting stuff.

 

Do your best to find a similar spec for sale right now and add 10%. You will end up fighting tooth and nail anyway when they try to pay you market value

[Kettmark 0]

Got an agreed value of £5k with insurance company. I've also joined PSD and intend to get contact there to value my car.

As said above, I can't see a like for like replacement for under £10k.

Thanks for all your advise.

[ATK 143 1 Cars]

Difficulty is you'll mever really get back what you paid out on doing your car up, plus new parts are getting so rare these days. If mine were written off there's no way (unless I bought it back) I could get all the new parts again. I don't think I could replace mine on a like for like basis under 10k but 5k agreed value which I have is probably as best I can expect!

[speno 239 2 Cars]

Mines insured for 20k agreed

[allanallen 528 2 Cars]

Mines third party only...

[johniban 59 1 Cars]

Its a funny question to ask, but the easier way to answer would be to ask "How much would it cost you to replace what you have?" -

 

For example, the ECU in my car would be 800, the loom 200, bodies 650, inlet 200, engine itself would be 1500-2000 to build, then 350-450 mapping, then suspension would be 1500 ish, seats probably 5-600 now, carpet and dash similar, shell probably 200-1500 for similar. Thats a very rough list and prices.

 

Now to look at my car has been dubbed 'a £500 boy racer banger' by the guy who recently spent £20k on a half decent restoration of a 205.

 

To replace my car in reality I am looking at £10k, to replace his you could do it for £1500 to 5k, then end up spending £20k again on new parts and painting stuff.

 

Do your best to find a similar spec for sale right now and add 10%. You will end up fighting tooth and nail anyway when they try to pay you market value

 

Mines through adrian flux, originally got a quote for classic car insurance but they wouldn't insure it with the ECU and inlet modifications so it went onto moddified car insurance, they wanted detailed list of everything i had spend including receipts for modifications and restoration costs, mine came in at £7000 after sending them numerous photos and pictures of receipts ect they offered to agree to value it at £5000

 

But.. thats not a £5000 pay out if it was stolen ect

its a pay out of the difference in market value and agreed value, ive no idea what the market value of a 120k gti is worth though and i don't know how they would know.

[ATK 143 1 Cars]

Mines insured for 20k agreed

 

With who speno?

[speno 239 2 Cars]

Footman and James

[Juttie205 123 2 Cars]

Mines agreed at 28k with adrian flux.

[calvinhorse 870]

Mines £34k with flux

[ATK 143 1 Cars]

Would be interesting to put a summary of your car plus agreed value (particularly for the higher values).

 

Mine: 1991 standard GTi 1.9, Steel Grey, 185k Miles, Not bare metal restored but most running gear and cosmetic parts replaced. £5k agreed value. Greenlight Insurance.

[Alan77 78 1 Cars]

Mine: 1989 standard 1.9 GTi, Alpine white, 199k miles. All original and standard with a few BBM bits. Original paint, unrestored but wanted for nothing mechanically. 5k agreed value with FJ.

[Mac Crash 78 1 Cars]

Where can you find the market value for a GTi? have looked but can't see valuations for cars prior to 1991... can it be argued that the market value is what it would cost to replace anyway?

[welshpug 1,682]

thats is what market value is.

[johniban 59 1 Cars]

Where can you find the market value for a GTi? have looked but can't see valuations for cars prior to 1991... can it be argued that the market value is what it would cost to replace anyway?

 

I guess the market value of a standard car is what on average they sell for, anyone can price their car at £10,000 but if it doesn't sell for that then theoretically its not worth that, its only worth what someone is willing to pay at the end of the day,

and for modified cars the value is to an insurance company the cost to replace the car and modifications.

My valuer said alot of people try to insure their cars for so much more than they are worth, insurance companys arn't silly they do their market research and ask for proof.

[johniban 59 1 Cars]

Mines agreed at 28k with adrian flux.

 

I guess that would be the market value of the car plus the cost of all your parts and labour for your extensive rebuild?

[nomis 12]

Funnily enough, I'm having this exact same debate myself. I have mine on agreed value for what I thought was a good amount but price rises have made me think I couldn't replace it for that.

 

It's a 1991 black 1.9 GTI 136k miles and pretty much standard. Bought it in good condition and it's had about £3k spent on sorting it since - £1k by previous owner £2k by me. Currently insured agreed value for £5,000 with Footman James.

 

It's not got especially low mileage, but it's got a pile of bills showing everything that's been sorted and in the current market I seriously doubt you could pick one up like that for £5k.

 

Latest copy of Classic Cars has these valuations Concours / dealer £12,000, Mint £8,500, Good £3,750, Rough £1,250

 

I'll try and upload a photo of descriptions but briefly.

 

Concours / dealer = If you can afford it, do it. This is what to pay for a top-notch example, also a good guide to concours value.

 

Mint = Shiny and bright but not concours condition. Any defects should be small. You'll get a fine example for the money.

 

Good = Tidy and ready to use but needing cosmetic attention. You'll have to spend more money if you want it looking really smart.

 

Hagerty has 205 GTI on its valuation tool aswell

[Juttie205 123 2 Cars]

Does not seem quite right as a concourse car sold at auction for nearly double what they state.

[TT205 42]

Prices haven't half gone up

 

How about a 1987 with only 76K from new that needs 2 sills and some tlc!?

[TT205 42]

Answering my own post - according to Hagerty £3000 +