GTV V6 - The True Value...

[alfaman51 17]

My  much loved 3 litre GTV V6 has been damaged by fire. A couple of weeks ago I left it in my garage and when I looked at it the next day it had suffered an interior electrical fire which had started in the area of the mirror adjusting switch by the handbrake. 

The interior of the car is ruined and the car is a write off even though the fire damage is limited to the interior itself.

 

It is beyond economic repair.

 

I want to keep the salvage as the car was in great condition and has many usable parts - a newly fitted Cup kit amongst other goodies.

 

The problem that I have is that the insurers will only value the car at £1600. It is plainly worth a lot more. It had done 72k miles and had a very good service history. It was truly immaculate throughout. I did not have a classic car policy ( the car was a 2000/2001 "V" plate car) nor did I have an agreed valuation.

 

Most of the work that was done on the car was by the previous owner - an engineer - or by myself.

 

Does anyone have any ideas on how to persuade the insurers of the true value of my pride and joy?

 

 

[EvoMan 116]

First of all, I am sorry to hear about your troubles. My suggestions would be, to have an independent appraiser look at the car. Someone who has knowledge of semi classic vehicles and that can valuate the vehicle for you. 

 

 

http://www.hagertyinsurance.co.uk/classiccarvalue

[Thanos 193]

My "cheap" and very basic car insuranse value my GTV at 6.000E...

[Filip 124]

It seems that, in the UK, the 916 is valued lower than the rest of Europe, not to mention Australia and other "remote" places. 

6000€ is probably reasonable for central Europe. 

 

Sorry about your car.

[alfaman51 17]

The insurers have now made a revised offer of circa £1900 which is still a total insult. I am amazed by the mid European values. I'm going to try to get a better valuation tomorrow.

Thanks for your support guys!

[charlee 314]

UK prices are low because you drive on the wrong side of the road

But it's a buyers market

[EvoMan 116]

There is a huge market, at least in Holland, for UK cars. Cars with small accident repair or even no repair get shipped to Holland to be used for parts. A 2000 year Spider can be bought for as little as 1200-1500 euro in the UK. The same car here costs 3000-4000. UK cars nearly all have leather, so it is worth it. That some parts can not be used as It's RHD they take for granted.

This is how they end up ;-((

[Roddy 0]

When I worked in the classic car industry years back, I had a tame insurance assessor that would normally come to my workshop.

His advice was to advise my clients to find as many copies of adverts for a similar spec cars and email those across to the claims negotiator. Remember it is their job to negotiate a minimal pay out, you can expect to receive several low offers before they get realistic. The onus is on you to push them for what you want and not to accept what they are telling you.

[alfaman51 17]

I'm not giving in to them! They will have to negotiate. I have lots of ad details and a realistic price is between £2500- £3500 in the condition my car was in. 

Everyone should avoid "Quote Me Happy.com"...... Happy? Ha Ha Ha.

 

They are now going to make an interim payment and argue about the rest.

 

Watch this space!

[EvoMan 116]

There is one for sale in the UK. Surely that can work as a benchmark.