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  #16  
Old 07-05-2015, 02:51 PM
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richiep richiep is offline
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Well I saved you some effort. I self-certificated my revaluation this morning (I can do that up to a value of 100k for a 20 quid charge with my insurer). A significant revision of my agreed value based on conversations at Donington with Fourways and others - I now feel slightly more comfortable driving the car again!
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  #17  
Old 07-05-2015, 06:28 PM
Stockdale Stockdale is offline
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Quote:
Originally Posted by Mr.G View Post
Interesting, I always thought they verged on the optimistic side since it's an insurance evaluation to cover the replacement cost rather then market value. Hence the club's valuation takes into consideration all the money you've spent on the car including all the improvements, mods etc. (that's why bills are asked for). This is so you can benefit from seeking an insurance policy on agreed value, and should you have an accident you will get more then the standard market value....
Maybe a little pedantic but 'evaluation' and 'valuation' are slightly different things. The most important is 'valuation'. This is normally a professional judgement of value based on many reliable factors. 'Evaluation' is an estimation of specific worth and can be very subjective.

I do applaud any willingness to offer a valuation service but worry that they might easily be exposed to liability if it were found inaccurate. The legal world is not the same place it was when I was a young man. Any shortfall will (and I find frequently in my line of work) can easily result in claim.
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  #18  
Old 07-05-2015, 09:37 PM
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Rob Gaskin Rob Gaskin is offline
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It's a difficult one and claims are something a Z Club committee member should not be exposed to. Perhaps when you get a valuation it should be agreed with Mike in writing so no claim can be made against him.

I have two cars valued by Mike. I'm happy with the figures because that' s what I think I could sell them for. If they get written off at least I wouldn't have lost anything financially, however I could not replace them for that.

I don't think I could replace my 'original car' with like-for-like anywhere to be honest and the modified car would cost more than it's sale value to replace. So yes perhaps I'm naive.
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Last edited by Rob Gaskin; 08-05-2015 at 06:21 PM..
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  #19  
Old 08-05-2015, 06:04 PM
Stockdale Stockdale is offline
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Quote:
Originally Posted by Rob Gaskin View Post
It's a difficult one and claims are something a Z Club committee member should not be exposed to. Perhaps when you get a valuation it should be agreed with Mike in writing so no claim can be made against him.

I have two cars valued by Mike. I'm happy with the figures because that' s what I think I could sell them for so if they get written off. At least I wouldn't have lost anything financially, however I could not replace them for that.

I don't think I could replace my 'original car' with like-for-like anywhere to be honest and the modified car would cost more than it's sale value to replace. So yes perhaps I'm naive.
I don't think that you are in any way naive Rob. Quite the contrary. My original question was intended merely to explore the real basis of 'valuation'. I think agreed values are probably the way to go if insurers are content and am not entirely certain that 'valuations' are appropriate. I supect, given the diversity of 'Z's remaining in the UK that replacements are not possible on a like for like basis but compensation will at least make things a little easier if things really do go wrong!
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