Wositworth

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Jaba
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Wositworth

Post by Jaba »

Following on from buying my £89 classic car insurance with Peter S Taylor they are inviting me to send to 2 pictures and settle on an agreed value. If I don't do this then they will just give me market value.

So what is a good, not perfect, 145k GTi worth today ? And how much might the market value be I wonder.

Thoughts ?

TIA Jaba
The Joy of BX with just one Citroën to my name now. Will I sing Bye Bye to my GTI or will it be Till death us do part.

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Tim Leech
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Re: Wositworth

Post by Tim Leech »

Insurance value I would put down as £2000 and negotiate from there, real world value? Gti 8v's are still lagging behind TZD Turbo and 16v models so I would expect £750-1000.
1963 VW BEETLE 1200
1985 BX 19GT Mk1
1985 BX 19 DTR Mk1
1991 BX 19TZI Auto A/C
1994 Xantia 1.8i SX
1972 Morris Marina 1.8 SDL
1979 Rover SD1 V8-S
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MULLEY
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Re: Wositworth

Post by MULLEY »

I'd deffo get it insured for £1k as a minimum.
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1992 TZD Turbo - Bluebell - My daily
1991 Gti 16V - Blaze - crash damaged, will get repaired.
1990 Gti 8Valve SOLD - looks like it's been scrapped
2002 Mini Cooper S - SOLD - i miss this car
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Dollywobbler
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Re: Wositworth

Post by Dollywobbler »

Yup. £1000 sounds about right. I try and imagine what you'd have to pay to replace it. I don't think a leggy GTi would be £2k yet.

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Des Smith
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Re: Wositworth

Post by Des Smith »

I'm at exactly the same point in the process with Peter S Taylor and presumably they have arranged your policy with Allianz as well. I'm sure Tim would tell you himself, but you can get an agreed value through CCC if you're a member. Obviously, the agreed value will be a fraction of the money spent, but significantly more than the book price. How it pans out in the event of a claim, I'd rather not know, but it's got to be better than market value.
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Dollywobbler
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Re: Wositworth

Post by Dollywobbler »

Yup. Market value of a resto case is very tricky. Following the strictest letter of 'what it would cost to give me a car in identical condition,' then the cost of the restoration has to be a part of it, as you'll be very lucky to find one as good after 20 odd years of living!

But like a new car, the value falls away pretty quickly once you start driving it. Had my 2CV insured for £4k a few years ago. It's certainly not worth £4k anymore! (think insurance value is £3k now but that's still a bit ambitious.).

citronut
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Re: Wositworth

Post by citronut »

according to the senior engineer at Equity red star, a TZD estate in top condition with low mileage in Glass's guide is around £400 quid

regards malcolm
curent ride
K reg BX 17TD TZD est
also own
K reg D special

no longer have
H reg CX saffari 2.5 TRI (now gone to Malaysia)
R reg xantia 1.9TD est (gone to meet its maker)

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Tim Leech
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1980 Morris Marina 1.7HL DBV468W
1985 CITROEN BX 19DTR C943DYA (again)
1985 CITROEN BX 19GT C1TBX
1991 CITROEN BX 19TZI AUTO A/C BXi 19
1994 CITROEN XANTIA 1.8 SXi M908HRY
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Re: Wositworth

Post by Tim Leech »

citronut wrote:according to the senior engineer at Equity red star, a TZD estate in top condition with low mileage in Glass's guide is around £400 quid

regards malcolm

Its just an old car to them, ask him to find you another one for that money then!
1963 VW BEETLE 1200
1985 BX 19GT Mk1
1985 BX 19 DTR Mk1
1991 BX 19TZI Auto A/C
1994 Xantia 1.8i SX
1972 Morris Marina 1.8 SDL
1979 Rover SD1 V8-S
1980 Morris Marina 1.7 HL
2003 Rover 25 1.6i XL 5 DR

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Thread Bear
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Re: Wositworth

Post by Thread Bear »

Indeed. It is the classic buyer comment the other way round

'My mate bought one like that for £400.'

To which the stock trade answer is, of course

'Then go get your mate to buy you another one and stop troubling me, as mines £1,000!'

Which is why we need agreed values to protect something the trade is not equipped to value. At the cusp of collectible status this is very much a balancing act. Too high and they will take the policy but argue a claim, to low and you can lose out. I am not qualified to offer a value myself but it has to be reasonable replacement value.

With the interest shown in values, see refreshed thread on Scottys car as hinting at this behind the debate, it would not be a great deal of extra work to record sales known statistics for insurance valuation purposes. This would become far more valid information than trade once its about 18 months old and any trends can begin to be picked up and proven. Once again it only happens if someone dedicates the extra time to it, though. All a bit anoraky but there you are.
Miguel - 16 TRS Auto S, light blue, 43k miles - £450
Pluto - 14 E S, White, 105k Miles - in work
Egbert - 19 16v Gti, White, A/C & Leather, - Keeper
Walt - 17 TZD Turbo S, graphite, 70k miles, good op extras - Keeper
Scraper- 17 TZD Turbo E, blue, 208k miles - parts
Homer - 19 TXD E, Red, 189k miles - £250
Gary - 17 TZD Turbo E, 118k miles - in work

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Jaba
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Re: Wositworth

Post by Jaba »

Well I'm gonna go for £1500 and see what Allianz say. Good idea Al to start monitoring sales to get a database of sorts going to help with Classic valuations and more importantly insurance settlements after a no fault write off.
There are plenty of BX anoraks on the forum. Anyone up for it ?
The Joy of BX with just one Citroën to my name now. Will I sing Bye Bye to my GTI or will it be Till death us do part.

Tinkley
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Re: Wositworth

Post by Tinkley »

In 2007 my 1.6 Athena was 'written off' for £350, in 2009 it was 'written off' again for £450. I have a nasty feeling its only insured for 450 now, with a 350 excess. There are only 3 on the road now, JayW's, mine and another, be interesting to see an insurer source another rh drive one....
Part of the reason for the values in 07 and 09 was that it had a full recon engine, now that unit is in my current car so they'll have to find one with 63k on it!. Even this lowly model has got to be worth £1000 judging by price movements this year, and next renewal I will be upping the value.
The GTi has to be worth a bit more, I would guess £1500+

citronut
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Re: Wositworth

Post by citronut »

the other quandery i face is my policy being motor trade road risk,
i cant have an agreed valuation accepted, and what ever my insurance company get from a third parties insurer, they can/will only give me "trade value"

so it seems to be pointless having a classic car on that policy,

regards malcolm
curent ride
K reg BX 17TD TZD est
also own
K reg D special

no longer have
H reg CX saffari 2.5 TRI (now gone to Malaysia)
R reg xantia 1.9TD est (gone to meet its maker)

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Thread Bear
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Re: Wositworth

Post by Thread Bear »

It is worth having a classic car policy if you have trade, but own classic cars. Trade policies are bandit country and notoriously not worth the paper they are printed on in terms of value of vehicles. I lost a very rare Lloyd bus to one of these outfits. I would not trust that policy as far as I could drop it, if you smack your more valuable BX type and expected full value back. However it is primarily there to protect against a third party claim and you need it as that tool to do its job and as a legal lever to work. As soon as you own a classic, which is worth money, I would strongly recommend separating it from the rest and buying an agreed value policy. That might be a problem, if you are motor trade, but it should not be. However, if motor trade, you need it crystal clear what is agreed and what is not, as you risk double insurance cover and both companies attempting to shift a claim onto the other. A situation a chum had not long ago on a £50k car he trashed. I believe he still has not been fully paid out. I can see your dilemma, though, if the car is rare, but still valueless.

If you have many classics and trade policy then a dodge is to not own the classics but put them in a collection, company, museum name. Buy a minimum classic policy for the lot and drive them under the trade policy where you are contracted to maintain the cars for Doobrey Ltd owhy. The classic insurer will pursue the trade one for its full value if you stuff it. I would point out there is a possible tax advantage as well but thats another story.
Miguel - 16 TRS Auto S, light blue, 43k miles - £450
Pluto - 14 E S, White, 105k Miles - in work
Egbert - 19 16v Gti, White, A/C & Leather, - Keeper
Walt - 17 TZD Turbo S, graphite, 70k miles, good op extras - Keeper
Scraper- 17 TZD Turbo E, blue, 208k miles - parts
Homer - 19 TXD E, Red, 189k miles - £250
Gary - 17 TZD Turbo E, 118k miles - in work

'87 Trooper, Borgwards, Saabs, MG ZB, Bellamy Trials, Fiat Jolly & Bianchina, Goggo Dart, Messerschmitt, Heinkel, Bubblecars

citronut
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Re: Wositworth

Post by citronut »

thanks Mr Bear

the only prob i can see with having any classic's registered to a different person/name, is technically i would only be able to drive it/them in the duties of my business, ( test driving, MOT'ing and the likes )
so if i was to be involved in a prang up the other end of the country, i might have trouble convincing my insurance company i was only test driving/MOT'ing it

regards malcolm
curent ride
K reg BX 17TD TZD est
also own
K reg D special

no longer have
H reg CX saffari 2.5 TRI (now gone to Malaysia)
R reg xantia 1.9TD est (gone to meet its maker)