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Need to get Garage insurance


t4xy

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Hi due to family issues my car has been unused and under cover for what I believe is 3 years, I was shocked today when I logged on today and realised how long ago my last post on a forum was.

my family issues are now getting back to normal and I am trying to sort my life and my garage out, as I also have a few motorbikes that havent been used in a long while, I am aware that the value of my 1986 911 3.2 Carrera LHD American import has like most classic cars increased but I honestly have not an Idea of its current value? I would decribe the condition as average to good but unused in years, it was a runner and still starts but as it needs a complete brake overhaul I cant really drive it anywhere, Its obviously going to need a major service and in the meantime after talking to an insurance company I want to get Garage only insurance for the time being but the Insurance companies all refuse to give me a ball park figure of its value insisting that I tell them what I think its worth before they will give me a quote. 

So the Question is whats it worth for insurance purposes?

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I have a car on a laid up policy with RH https://www.rhspecialistinsurance.co.uk/

About £90 a year for a 40k value. I suspect your car will be in a similar ballpark. If you need an official valuation you could contact the owner of this site John Glynn who also runs https://www.porschevaluations.com

Hope you get sorted and back into the car sometime soon ;)

 

 

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  • 3 weeks later...

Thanks for the replies, Sorry for the delay I have been away on holiday,  I will take Jevvys advice and give https://www.rhspecialistinsurance.co.uk/ next week. Its not a case of me wanting insurance at a given amount I just want garage insurance as the value of the car has rocketed since I bought it over 10 years ago. The companies I have spoken to so far always ask what is its value and when I say I dont know they wont give me a ball park figure, when I say I could tell you its worth £100k but you wont pay out that if my garage burns down so just insure it for its market value in average to good condition they refuse insisting I give them a figure. so as a suggested I will just say £40k and see where they go with that.

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I found underwriters insisted on one for a laid up policy with agreed value or cover offered was low ball market value only. They may or may not accept your opinion on value but why wouldn’t you just get an independent valuation anyway? 

Think about it. Your car is easy to steal, and arguably more vulnerable than a right hand drive car.

Also if you’ve been away for a while you might have missed Dr Rock’s car catching fire recently. 

This stuff happens sadly - agreed value cover all the way.

 

 

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2 hours ago, mean in green said:

I found underwriters insisted on one for a laid up policy with agreed value or cover offered was low ball market value only. They may or may not accept your opinion on value but why wouldn’t you just get an independent valuation anyway? 

Think about it. Your car is easy to steal, and arguably more vulnerable than a right hand drive car.

Also if you’ve been away for a while you might have missed Dr Rock’s car catching fire recently. 

This stuff happens sadly - agreed value cover all the way.

 

 

Its a long story Simon, My mum had cancer and passed away last year,  I cant even get to the car out of the garage myself at the moment and the weather is now against me but come spring its going to be a priority and I will be looking to get it revalued, I think the last agreed valuation was for £12500 about 10 years ago 🙂

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Regular insurance policy will ask for value of the vehicle when you apply for insurance. The premium cost is based on your valuation but in the event of a claim they pay out based on market value or the average of prices from trade valuation guides. Either way most claims result in disappointment when the cheque from the underwriter finally arrives.

An agreed valuation policy fixes the value for usually a 2 year period. In the event of a total loss the payout is equal to the agreed valuation less any xs on the policy.

Storage insurance usually allows the vehicle to be kept off road for an agreed period of time without the need to tax or mot the vehicle. Standard policies cover fire, theft and some accidental damage but no third party or entitlement to use the vehicle on the road.

Check your policy for any specific time restrictions.

Some have a clause about the times your car can be outside of the garage and on your drive / 2 mile radius of your house.

If your car is on a garage / secured storage policy and gets stolen at night from your driveway you are going to find it difficult to get a payment.

 

 

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56 minutes ago, t4xy said:

Its a long story Simon, My mum had cancer and passed away last year,  I cant even get to the car out of the garage myself at the moment and the weather is now against me but come spring its going to be a priority and I will be looking to get it revalued, I think the last agreed valuation was for £12500 about 10 years ago 🙂

You can get an insurance valuation from photos.

If you have full side, front, back and interior shots - for the valuation company and the insurance company.

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