Agreed valuation cover from Sky Insurance

[skyinsurance]

Quote call back: http://www.skyinsurance.co.uk/call_back_new.phtml

Hi all,

ok, we had the agreed valuation facility some time ago, we got it back about a year ago but we haven't really made it public knowledge..

We've been a little reluctant to make it public knowledge as the actual process of agreeing a value is such a can of worms and also due to the popularity of this product, we do not want everyone thinking we can offer them an agreed value. The issues we have had in the past is customers over-valuing their vehicles and then getting upset when our underwriters refuse to over-value the car, we (the broker) get stuck in the middle but it's us who usually take the brunt of the criticism. The usual issue is that the customer will value their vehicle as the purchase price + maintenance cost + modification cost + sometimes even cost of fitting modification. This is NOT how to value your car.

We can only agree the value at how much the car will sell for, including modifications, to a like minded car enthusiast, in today's selling market.

If we over-value these vehicles we leave ourselves wide open to fraudulent claims, which we've been burnt with in the past, literally in one case.

So, whilst we do now have the facility to offer agreed valuations we ask you to bear the above in mind and be sensible when requesting your agreed valuation. You can speak to an agreed value intermediary if there is any confusion.

In addition, we will not be able to offer an agreed valuation for everyone, it can only be offered via our car club scheme, to fit this scheme our underwriting criteria must be met, also we will not be able to offer an agreed valuation on every car, we are looking for the modified and more special examples.

If you are interested in an agreed value policy then we would welcome your enquiry when you are shopping around for your insurance,

If you have any questions, please ask, either on this thread or by PM.

Thank you

Ollie
Sky Insurance

Ps, have you entered our competition yet?

http://www.skyinsurance.co.uk/drifting-competition/index.html

[turbojolt]

Ive heard some insurance company's require receipts for agreed valuation quotes, is this not that case with your company?

I personally have a problem when it comes to showing receipts, as alot of the expensive items Ive bought for my car have been 2nd hand cash deals, would this prove to be a problem?

[MK999]

No offense intended here TJ, but I think that's kinda excluded towards the end where he says they're really looking for the very upper end of cars. I.E If you'd had your bay professionally sprayed to a high finish, and powdercoated all the parts you'd have receipts for that work and the majority of work carried out on those kinda cars will be similar. Obviously the odd 2nd hand base engine comes through, but that will usually be rebuilt (See Nick J's mustard SR, Keith Robinsons brand new crate XE etc) and certain bits of work can be explained, Nick J I'm sure could say he sprayed his car himself, but if it was done through where he works it would have cost X and that makes the car worth this value.

Obviously not trying to have a dig there, I myself will be doing a lot of the work on my car myself in a similar fashion as it's perfectly adequate and possibly even overkill for the kinda use we're both intending, it just doesn't put us into the 'very top end' that they're looking at for agreed values, and we would be lacking the receipts for thousands of pounds worth of work that go with that! (I'm actually fine with that too lol)

[turbojolt]

yer i supose you right, just dont like the idea of my cars value being 200 quid :(

[MK999]

Sky are very very reasonable on value. When I had my BMW written off they were fantastic, I got a quote through from their engineer and agreed it straight away, no arguing needed as it was totally fair!! They also only charged £25 as scrap value for my car and arranged delivery of it. My Mums insurance company wanted 40% or similar of the full value of the car pre accident!! On top of delivery and handling and paperwork charges and a small fee for office supplies and the time taken for the delivery driver to have a piss on the way there. Meant we couldn't buy it back to take any spares from (she bought an identical replacement)

I'm quite happy to say in all of my dealings with them you really can't tar them with the "typical insurance company" brush. Dealing with my Mums insurance after her accident was an absolute nightmare in comparison, and I should have been expecting it, but I wasn't after dealing with Sky!

[turbojolt]

that sounds alright then, would be heart braking to have it written of at 200 quid when the tyres I'm looking at are more then double that alone lol

[MK999]

Bear in mind it's still based on the cars actual value, you won't be getting that £400 for tyres back, but you won't have it written off as a standard needs the arches doing and maybe a front panel standard Nova either lol

[turbojolt]

see thats where it becomes hard as i would value my car (completed) at around 2-2.5k but thats bound to be well and truly over the going odds, its hard to separate yourself and what you feel its worth and what others do :/

[novalew]

I think a lot of us are in that boat tj

[Benn]

See im coverd with HIC, they ask you to list the mods done, and how much they cost to do/are worth. Then ask if you can find other cars like your own to back up the figures you think its worth (not easy at all, i was lucky Nick was selling the mustard SR at the time) they then agree on a sum, if you are unhappy or want it valued for more they can/will send an insurance asseser out to look over the car to see what the valvue the car at. Because book price on a J reg Nova is about £300 if lucky. There system works perfecly in my eyes.

[Lee H]

Adrian Flux ask for a list of mods and costs and 6 pictures of the car and that's about it. Had the same value on the Nova for the last 4 years and had a fair valuation agreed on my MR2 this year.

[Edd]

chap i sorted it with at HIC looked through my project thread, sent him 15 pics and spec list job done, i didn't need to show any receipts

[matthew172]

glad to hear you are offering agreed value, ill be calling for a quote when mine is up for renewal (currently with flux)

[Nova_Tek]

This is cool... I know who I'll be going to first for a quote ;)