Reading bout Mikee's crash in the other thread made me think about the insurance angle. My car ('89 Driver) is in quite good nick, but prolly only has a value of a few hundred pounds. I've not done a lot to it yet because I can't afford to, but I've spent as much again on fancy bits for it. I realise that anything other than a very small bump, it would be written off. And I'd hate that. So how do you go about getting an agreed value? Who values it? Or do you add the cost of the extras to what the car's worth? Does an agreed value policy cost a lot? Most of what I've added is cosmetic, but the chap at the garage told me I ought to tell my insurance company about the alloys (even though they aint worth much) and also the s/s exhaust, 'cos that's a 'performance' thing. I know some of you have spent thousands on your Golfs, plus a lot of your own work. How do you value them?
You must tell your Insurers about all of the modifications you have made, simply to ensure that you are covered. If you do not, your policy could be declared void in the event of a claim, and you would effectively be uninsured. As for Agreed Values, most of the specialist insurers such as HIC, Brentacre et al do this. Usually you simply complete a form giving details of the mods and history of the car, sometimes photo's are required, and you then send it back and they confirm if they are able to agree the value. Once agreed that is the amount any future claim payment is based on.
I am with HIC and the agreed value cost a few extra quid. Something like 25 quid. My car is an '85 cabrio but is in mint nick. I was asked to fill out a form and send in photos as well as receipts. Got an agreed value of 5 grand. Also, i do lots of work myself so i explained this in a covering note as well, including second hand parts etc.
Thanks, guys. I've seen some advertisments in The Golf mag, so I'll start ringing around for some quotes.
