Valuation

[Nassau65]

I’m looking to update the valuation of my 65, as I haven’t done it for years. Any ideas as to where I can get it done. Tom Falconer was my choice for years, but has now retired. Thanks.

 

[Rich]

The Club can provide valuations but only for insurance purposes.

 

[Nassau65]

That’s what I need if for. How do I go about getting it done?

 

[jukebox]

Thanks for posting this as should
get mine done as well.

 

[Nassau65]

Yes, I think there are many owners of classic cars who have not updated their valuations. In recent times probably something you should do every couple of years, and in some cases yearly.

 

[DAN@ADRIAN FLUX]

Hi.
If it's of any help we recommend this guy for valuations.

Private Site

Regards,
Dan.

 

[Nassau65]

Thanks for the info

 

[Nassau65]

The Club can provide valuations but only for insurance purposes.

Can you advise me how to proceed?
Thanks

 

[Rich]

Can you advise me how to proceed?
Thanks

Apologies for the delay. Mark Eaton deals with valuations on behalf of the Club. Email editor@corvetteclub and he can tell you what we need.

 

[Nassau65]

Many thanks.
Email sent.

 

[8 Pot]

if going to the trouble of that please make sure that you have an "agreed value" policy. if not the insurance company can and will totally ignore what anyone else might think it is worth and pay "market value" as thats what a standard policy covers you for because that is what they have based the premium on and legally their are prefectly within their rights to do that. tread carefully here. if someone says your car is worth £100k then tell the insurers at the start and send the paperwork and let them THEN set the premium and you then dont fall in to the pit that is know as "under insured"

 

[Nassau65]

Oh yes, I’ve always had agreed value policies on my vehicles. I hadn’t increased its value for many many years, so thought it was time to update. Tom Falconer of Claremont Corvette always did my valuations but as he’s now retired wasn’t sure who to get to do it.
All sorted now.
Thanks for the reply.

 

[8 Pot]

Sounded like you did know actually, it was more a general notice to others that getting a valuation is one half of the equation. Unless you do what you are doing, it has zero legal use in a claim.
In your case, if you do that and the price plummets during the year, the insurer is obliged to still pay out the estimate you gave as they set their premium to that.
It's a proper minefield but you are for sure doing it right. Plenty don't.
Some market values they set are nuts.
I had one legal battle on the basis of ok find me another....I actually won it.
I now ONLY do agreed value on precious toys.
Run of the mill I take the same risk millions do.