what price do concourse travellers get insured for
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- Minor Legend
- Posts: 3773
- Joined: Wed Jul 14, 2010 10:53 am
- Location: South Manchester
- MMOC Member: Yes
what price do concourse travellers get insured for
just wondering how insurance companys put a value and how much???
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- Minor Fan
- Posts: 399
- Joined: Wed Apr 15, 2009 11:51 pm
- Location: Usually on the naughty step
- MMOC Member: Yes
Re: what price do concourse travellers get insured for
As you can see from my signature I am building a kit car at the moment and have arranged 'build' insurance with a specialist insurer covering fire and theft whilst it is under constrcution. As the work progresses on the car it is gaining in value all the while so I report to the insurance company when I want to increase the value of the vehicle and they tell me what the additional premium cost to do so. The more value you want to cover the more expensive it is to insure.
I imagine for a concours Minor you will have to get a condition report with photos (probably from the MMOC or approved specialist) to prove 'worth' (agreed value) and then let the insurer know what mileage you expect to travel in a year so an appropriate premium can be charged.
Regards Ian
I imagine for a concours Minor you will have to get a condition report with photos (probably from the MMOC or approved specialist) to prove 'worth' (agreed value) and then let the insurer know what mileage you expect to travel in a year so an appropriate premium can be charged.
Regards Ian
Busy collecting parts for my '52 MM Convertible and 1949 Saloon restorations. :o
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- Minor Legend
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- Location: Margate, East Kent
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Re: what price do concourse travellers get insured for
There may be someone in your local branch who can value your car and write a letter that the insurance company will be happy with as a representative of the Morris Minor club.irmscher wrote:just wondering how insurance companys put a value and how much???
Cheers John - all comments IMHO
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- Come to this years Kent branches Hop rally! http://www.kenthop.co.uk
(check out the East Kent branch website http://www.ekmm.co.uk )
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- Minor Fan
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Re: what price do concourse travellers get insured for
I used Footman James who stated I could insure a moggy for upto £15,000 without an independant valuation. So I entered £14,999 which was excepted.
This year they would only renew the policy if I had an independant valuation. This came back as £14 - £14,500 so they excepted my valuation.
These values are based on how much it would cost to buy a similar one, or buy a good car and rework it into the standard of mine.
This year they would only renew the policy if I had an independant valuation. This came back as £14 - £14,500 so they excepted my valuation.
These values are based on how much it would cost to buy a similar one, or buy a good car and rework it into the standard of mine.