Insurance Valuation

[manisandher]

Hi All,

I've insured my '04 NSX through Classicline and am paying just £440 year (with a max mileage of 3000). I'm really pleased with this. However, they have asked me to obtain a valuation for my NSX from three possible sources:
1. Car Club Official
2. Automotive Valuer
3. Vehicle Assessor

Does anyone have any suggestions as to whom I should approach to get a fair and proper evaluation?

Cheers,
Mani.

[simonprelude]

Post details on here and someone can cobble something together I'm sure.

[manisandher]

Here are the details:

- LBB
- first registered June 2004
- first owner Honda UK for 2 years
- first private owner for 1 year
- second private owner for 4 years
- current mileage 17,750
- full Honda service history
- mint condition inside and out

Are there any other obvious details that I've missed? I can post some pics if that would help...

Cheers,
Mani

[britlude]

from what i've learned in the world of hotrods and classics, the usual classic valuations require photos for the assessor and the insurance co's files. Usually the insurance have their own assessor!!! i know classicline do for hotrods!

[L696ULO]

When I renewed my insurance last year with Hiscox via Hagerty they accepted my valuation but I had to provide photos of all four wings, rear and front, interior and dash for confirmation of mileage.

[kingsley]

I am insured with Bewise cost £520 as this was a 3rd car I had no.. no claims with declared 3,000 miles per annum £150 excess. All they required was my valuation with good quality photos of internal, front , back and both sides fully showing wings and wheels.

Kingsley

[duncan]

Isn't your 'bill of sale' / receipt sufficient?
More to the point if values are hardening, why have an agreed value?

[Silver Surfer]

Got mine from Competition Car Insurance for £450...This includes 5000miles annual limit; £1000 voluntary excess; Social and domestic pleasure AND commuting; 5 track days at specified events; All mods declared including supercharger; £30,000 car value.

Just need to send evidence of member of car club....everything else, they took my word for it.

If required...call Martin Lam on 01159347107 ..he is familiar with the NSX.

SS

[manisandher]

Thanks for all the ideas.

I've actually spoken with someone at ClassicLine about this, but he just reiterated what it said on the valuation form, i.e. the 3 methods of valuation. As a bear minimum, I'll submit a load of HD photos to them, along with a scan of my sales receipt from the previous owner and see what they say.

But I am in two minds about getting a valuation done at all now. On the one hand, of course if the worst should happen, the last thing you'd want is to be out of pocket. On the other hand, I totally see duncan's POV that you might not be getting a fair market value if you're fixed into a valuation and yet prices have continued to go up meanwhile. I'll have to have a think about this.

In any event, it's probably prudent for all of us to keep a record of what NSXs are fetching on PH, Autotrader, etc. Is there a thread devoted to keeping a track of the latest NSX purchase prices in the UK?

Mani.

[Nick Graves]

Think I did the photos thang & some PH adverts!