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Ideas For Agreed Valuation


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#1 Buzzword

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Posted 03 November 2020 - 07:21 PM

Hi, I'm looking for a bit of help getting an agreed valuation price for my mini. All mods will be declared to the insurance. I previously had it agreed at £3500, but I think it might be too low.

 

1989 Mini City, 66,000 miles 998cc

 

Modifications and changes are as follows:-

 

Stage 1 kit, RC40 side exit, K&N, Electronic ignition

Newish radiator, water pump & clutch slave cylinder (standard)

 

New custom interior - seat covers, door cards, carpet, gaitors and door furniture

Tims tachometer, metal dished steering wheel

 

Chrome grill, bumpers, door handles, fuel cap, numberplate light housing & 70s Cibie fog lights with custom made covers

Grp2 arches and miniliFe alloys & yokos. New headlights and Mk1 style glass indicators

 

HiLos all round with new standard cones, adjustable lower arms, adj tie bars, longer track rod ends at the front.

KAD camber/toe brackets on the rear and non-standard geometry (not extreme)

New rear radius arms (standard)

New front calipers discs & pads and braided hoses all round (incl clutch line)

 

 

Body work and paint in decent condition, a few dings and some crust on the drivers door

 

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I was thinking I'd go with £5000???

Looking around on ebay and such like, I wonder if I'd struggle to replace it for that price or not. Opinions?

 



#2 Maccmike8

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Posted 03 November 2020 - 08:13 PM

£5k+at least.

3.5 is way off.



#3 Maccmike8

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Posted 03 November 2020 - 08:13 PM

Get an official valuation done.



#4 dyshipfakta

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Posted 03 November 2020 - 10:11 PM

Mines not as nice as yours and 5k wasn’t an issue at all

#5 Itsaminithing

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Posted 03 November 2020 - 10:20 PM

Who decides the agreed value of your car will depend on which insurance company you go for....

https://classics.hon...rance-purposes/

 



#6 Vanman20

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Posted 04 November 2020 - 12:00 PM

Who decides the agreed value of your car will depend on which insurance company you go for....
https://classics.hon...rance-purposes/

Yes,when I spoke to Adrian Flux they wanted 7 photos,inside, outside and engine bay and a list of the modifications/specs,which they would pass on to their valuer to agree or disagree with my valuation

#7 beardylondon

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Posted 04 November 2020 - 02:37 PM

I'm with Adrian Flux, and they have always wanted photos and the form on both my cars, not as issue, as also it proves what you are insuring, so you have a good proof and history in case you need to claim.

 

I would say £5k all day long, you can also send them For Sale adverts of similar cars to help your case, I had to do that with my Cooper, as they didn't at first recognise the true value.

 

 

Who decides the agreed value of your car will depend on which insurance company you go for....
https://classics.hon...rance-purposes/

Yes,when I spoke to Adrian Flux they wanted 7 photos,inside, outside and engine bay and a list of the modifications/specs,which they would pass on to their valuer to agree or disagree with my valuation

 



#8 g0myw

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Posted 04 November 2020 - 04:37 PM

you could look at it the other way.
If you wanted to buy a Mini of that spec / condition - what do you think that you'd need to get it.£?

We did our MPI with A.Flux , we went on the high side of valuation, they did'nt bat an eyelid.
 



#9 Buzzword

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Posted 04 November 2020 - 05:19 PM

I think I'll go on the high side, I just spoke with Adrian flux and it won't change the quote price if it's valued at £7000. Might aim for that, maybe £6500. The car isn't worth that alone, but with all the mods and work done, it would be hard to replace for similar for less. We'll see what they say.

#10 Buzzword

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Posted 17 November 2020 - 03:51 PM

Just to conclude in case anyone uses this thread as reference, I went for £6500 which was agreed with no further questions from the insurer.

The price of minis has certainly been creeping up over the years!

#11 Steve220

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Posted 01 December 2020 - 05:38 PM

Just to conclude in case anyone uses this thread as reference, I went for £6500 which was agreed with no further questions from the insurer.

The price of minis has certainly been creeping up over the years!

Don't undersell the car. Mine's valued at £30k agreed with Lancs.



#12 MatthewsDad

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Posted 02 December 2020 - 08:18 AM

I need to reinsure mine shortly and I'm a bit lost about what to suggest to my insurer for the agreed value - some of the trade asking prices for stock spi minis are crazy. Appreciate asking price doesn't equate to sale price but equally none of us want to under-value, in case the worst ever happens. Do insurers ever offer their own opinion or challenge owner valuations?

#13 cooperd70

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Posted 02 December 2020 - 02:17 PM

I need to reinsure mine shortly and I'm a bit lost about what to suggest to my insurer for the agreed value - some of the trade asking prices for stock spi minis are crazy. Appreciate asking price doesn't equate to sale price but equally none of us want to under-value, in case the worst ever happens. Do insurers ever offer their own opinion or challenge owner valuations?


The British Mini Club do valuations. You send them a load of good pics of all areas of the car along with a letter with anything that stands out/interesting history etc. They do make a smallish charge for the service. You don't need to even be a member...you'd be surprised. Mines fairly stock, but in very good nick and it was valued 3 years ago at 12k which my insurance didn't query.




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