Have you increased your insurance valuation recently?

[sloaner]

Hi Everyone,

Quick question....... now that the values of 964s are on in the increase, has anyone increased the value it is insured for? If so, did you have to get an independent valuation. How does this cost? Which companies allow for a good margin?


I still have mine insured for the price i paid for it, but i doubt very much i would sell it for that price now!

Thanks

Mark

 

[JCX]

Wise move! These things are going up in value fast. I believe you can use the PCGB valuation service or you can ask an Indy to value it for you. I insure through the PCGB insurance scheme with Lockton and they accepted a valuation from the firm that did my PPI before purchase.

 

[Russell Wheatley]

Honestly use the PCGB Valuation service. As it is for free be prepared to wait a little for it as the people who do it are doing it as volunteer work. You have to fill in the form and supply photos of your pride and joy. Make sure you have all the details ready before reinsurance as the insurers charge you money to change the policy in between periods.

 

[SEE YA]

Good idea, not sure how much my one is worth in the real world.
Anyone got a link, to the PCGB guys that do this service for members.

Thanks

 

[Steve Brookes]

Don't bother re-valuing it, sell now while they're in demand and reap the reward before they go back down in value. []

 

[sloaner]

Some great advise already - thanks guys.

Steve - Your advise is always 100%....but this time i'm going to try and ignore that comment lol - believe me I have thought about it and have had guys asking to me to sell........grrrrrrrrr what to do........There are some breaking the £30k barrier at the minute!!! yes, they will drop back and i will often be reminded of your wisdom from this thread.........

Not sure I could live without the noise (and the smell) of the 64.




As said already can someone please post the link to the valuation guys on here........

 

[pauljmcnulty]

Anyone got a link, to the PCGB guys that do this service for members.

Steve Kevlin does them, form's on the website here:

http://www.porscheclubgb.com/HelpAdvice/Valuations.aspx

 

[Steve Brookes]

Oh well if you must....[]....here's the link:

http://www.porscheclubgb.com/HelpAdvice/Valuations.aspx

Download the document and fill it out. I took some photos and then uploaded them to Truprint on-line and got the prints back within a few days. You also want to photocopy your service book and send in copies of major receipts for work done.

Don't expect to get some of the values that are going round at the moment because I think the market is moving so fast that it's difficult for the valuers to keep up with.

 

[colin129]

Oops, I have been meaning to do this for a while & now my renewal is due in January I expect I will be too late for the PCGB valuation.

I seem to remember Classicline were happy to accept a self valuation up to £20K which I expect will cover it for this year.

You really think values are due to nose dive then Steve?

 

[JCX]

I think Steve was/is teasing. As the economy picks up the price rises will persist though I would be surprised if the curve doesn't flatten out. It has been very steep in the past 30 months.

 

[Chrishazle]

ORIGINAL: colin129

Oops, I have been meaning to do this for a while & now my renewal is due in January I expect I will be too late for the PCGB valuation.

I seem to remember Classicline were happy to accept a self valuation up to £20K which I expect will cover it for this year.

You really think values are due to nose dive then Steve?

Not so sure about that Colin - I have my 968 on agreed value with Classicline, but based on a PCGB valuation (for the cabriolet) rather than their valuation - paid for _ which I had on the coupe before it.

Point to note with classicline - the valuation is only valid for 2 years, so I have to get it renewed before Feb 2014.

Point to note with Lockton - their quote was excellent, but they would not accept the PCGB valuation from 21 months ago, so due to time constraints I had to take the easy way out and renew with Classicline, otherwise I would have shifted (after 4-5 years with CL) to Lockton.

 

[pauljmcnulty]

PCGB valuations are pretty cast-iron, insurance-industry accepted, and you will get that amount paid out. Very different from a self-cert valuation, or other clubs/specialist options.

They are slow, and until it's devolved to the RSs it will remain slow. But, assuming you've put in your application my understanding is that it will be honoured even if your car is involved in a claim between you submitting the details, and the valuation coming back? The valuation is based on the info you supply at the time you supply it, so even if it's a burnt-out wreck when the post arrives with the reply, it's going to be valid.

 

[pauljmcnulty]

Point to note with Lockton - their quote was excellent, but they would not accept the PCGB valuation from 21 months ago, so due to time constraints I had to take the easy way out and renew with Classicline, otherwise I would have shifted (after 4-5 years with CL) to Lockton.

Have you passed this on to the Club? Partnerships with suppliers only work if they get the feedback, and the Club get the feedback, as to where it's not working.

 

[Steve Brookes]

Also, when sending in your PCGB valuation to your insurer, don't take it as read that they've updated your details. I had to call CL a couple of times to get mine amended - I submitted mine a month before my renewal but when the renewal came through, it still had the old value on it.

p.s Yes Colin, I was joking....values should be good for a straight swap for a 6GT3 next year []

 

[Chrishazle]

ORIGINAL: pauljmcnulty

Point to note with Lockton - their quote was excellent, but they would not accept the PCGB valuation from 21 months ago, so due to time constraints I had to take the easy way out and renew with Classicline, otherwise I would have shifted (after 4-5 years with CL) to Lockton.

Have you passed this on to the Club? Partnerships with suppliers only work if they get the feedback, and the Club get the feedback, as to where it's not working.

it's not that it's not working Paul, it's just that, for a variety of reasons, I left getting competative quotes for the 968 somewhat later than I normally do, so I had to decide at very short notice whether to accept the excellent quote from Lockton but not have an agreed valuation on the car for perhaps 2-3 months, or renew with CL and have until February to get my PCGB valuation renewed. Purely my fault - life was busy enough between organising daughter's wedding etc, but wife then breaking her hip, being in hospital for 8 days then needing loads of help at home - non-urgent things got put off!

 

[colin129]

I seem to remember it saying on the ClassicLine form that you could self certificate up to £20K, perhaps I can retrospectively get the PCGB valuation & see if it's appreciatively different.

It's probably not a bad idea to get it done anyway, as I've really no idea what my car is worth, so few C2 Coupes seem to be for sale & those that are seem to be ultra low mileage.

ORIGINAL: Steve Brookes

Also, when sending in your PCGB valuation to your insurer, don't take it as read that they've updated your details. I had to call CL a couple of times to get mine amended - I submitted mine a month before my renewal but when the renewal came through, it still had the old value on it.

p.s Yes Colin, I was joking....values should be good for a straight swap for a GT3 next year []

Goody!

 

[colin129]

Just renewed with Classic Line today for a couple of quid more than last year (literally) and increased my valuation for no charge. As long as the valuation is less than £20K there is no charge with Classic Line otherwise it is £20 for valuations up to £100K.

 

[ray stobbs]

just got my valuation back from PCGB was 17k now 21k but have just put 5k into it for bare metal respray my insurance went up £20 still with c/line

 

[andrew_churcher]

Ray that valuation sounds low to me. Would have thought 25-27k would be nearer the mark

 

[Steve Brookes]

ORIGINAL: andrew_churcher

Ray that valuation sounds low to me. Would have thought 25-27k would be nearer the mark

I thought that too. However, it must be difficult for the club to keep up with the 964 price bubble that's going on at the moment. So, I guess they're being cautious in their valuations.