Matt Baxter

iTrader: (37)

Im sorting a new agreed value insurance policy, but not sure what I should be putting?


Full Spec

BODY
Gloss black 2 wheel drive (had a full body restoration/repaint completed november 2013)
4x4 bonnett
RS500 front splitter


Front brakes
Brembo callipers 330mm discs
Rear brakes
4x4 rear calipers
AP 305mm discs

Wheels/tyres
Azev 8x17 wheels with 225 35 17 tyres

Suspension
Koni adjustable shocks and avo standard height springs
Solid beam mounts
Poly diff mount
Poly bushes throughout
front and rear strut braces

Quaife ATB diff

ENGINE
GT30 .71 Turbo
Ported& polished head
Balanced bottom end
Autronic sm4 ecu live mapped by MA Developments
500 size cooler
Siemens 83lbs injectors
Alloy rad
Pre rad
Alloy tanks(under bonnet)
ap 6 paddle clutch
Gp a k&n filter
uprated fuel pump
3 1/2" stainless steel exhaust
power output 420-450 bhp approx


Interior
Factory leather
RS ecu cover
Zietronix wide band/data logger
Retrimed roof lining in black
Electric sunroof







So people help me out what should I be saying to the insurance if the worst was to happen?

ajamesc

Rs owners valued mine at 8 but insurance took into account receipts I had and did an agreed of 12

costina

iTrader: (1)

Don't insure it thru the club.......

They will only give big valuations to standard cars.

Matt pm me if you want.

Matt Baxter

iTrader: (37)

At the mo I'm sticking with Flux as I've never had any hassle from them and Im happy with the price,

I've got 12k in my head but part of me thinks that way too much as its "just a sapph" then I think that if it got nicked there no way I could replace it for that

costina

iTrader: (1)

Matt your paying the premium so if you cant replace it for that insure it for more.

If it got nicked (hope not)

Gary was selling a 2wd in black 8k
brakes 1.5k
engine rebuild and upgrades 5k
suspension 1k
New car will need some kind of refurb ŁŁŁŁŁ's

Say no more.

Brake yours and a std saff what will give you more cash..

Just my opinion mate.

Rod-Tarry

What rubbish mine was valued at 35k & its far from standard.

costina

iTrader: (1)

Then your very lucky then Rod or are you? and its not rubbish I know many people with saffs that can't get a decent valuation.

Anyway your car is worth more than 35k in parts alone so its not a realistic figure is it. Can you replace it for that?

Paul_RS

iTrader: (4)

I think I put Ł15K on mine? (Adrian Flux)

costina

iTrader: (1)

Matt 14k

jason_nike

Incorrect.
Each car is individually valued.
It is taken into consideration how much it would cost to replace the car at is being viewed as every car is different.
That's why all mods etc would be listed, and it will confirm the car is what the owner says it is to the insurers

Matt,
Replied on RSOC for you mate.
Any queries give me a shout
regards
Jas

R5FORD

iTrader: (1)

35k in the grand scheme of things isnt really alot is it when your engine is worth that much?

Moonstone Steve.

iTrader: (2)

When I tried to get mine valued by the rsoc guy I was told that what they do for modified cars was start at a market value price for the car then if you have spent 10k in mods then they only add a percentage of that to the price, so if a nice condition saph is worth say 7k and you spent 10k on it and you get 10% ( i think that was what the percentage was) then your value of your highly modified car is only 8k

Steve

ajamesc

Different guys must do different values and work to different rules lol
I had some one from Southampton look at mine as the 2wd saff guy is in Scotland?
He told me they don't take mods into account but will add an amount on if a lot has been spent like with mine as it has up rated brakes gear box and diff so he valued it at 8 grand.
Which he said was a high value for a g reg saff.
Now I've re done the head lining had new seals fitted and I'm building a new engine I'm going to take this up with them as a lot of you guys are saying mods are taken into account

costina

iTrader: (1)

WHEN are you guys going to understand ive been thru this with a good mate. THE RSOC registrars are only interested in there own cars all of them have standard cars which are all valued high (Guy in Scotland being the highest from what ive heard saff that is not including Rods) Nothing else comes close.

In my opinion its a fix its ment to be a club for everyone not just them

And yes your right modified cars are based on a std one then you have to produce receipts and then its just a percentage added on.

James can you replace your car for 8k? no so whats the point eh. every saff that gets binned stolen or robbed of its engine for a mk2 escort WILL make them worth more.

Sorry to dis the club just don't think its run very fair.

ajamesc

New engine will be worth more than 8 lol but some valuers must give values based on mods for rod to get a 35 grand value. Ok rods car is very clean but not worth 35k as a saff so his value is largely on mods

Moonstone Steve.

iTrader: (2)

I agree with all of thats been said here and in order to get a low rsoc valuation I would have to take my car to the other end of the country

Also like has been said you deffo wouldn't get my Turbosystems engine for 8k let alone everything else I have on my car.

Steve

R5FORD

iTrader: (1)

A proper specced 550hp engine is over 10k plus managmeny plus IC etc your at 14-15k then gearbox, diff, brakes, wheels, what ever else your at 20k plus the car lol

Im awaiting a valuation on the escos with 217 miles i will be getting the 8k mile 3 dr valued soon out of intrest aswel.

Sonic Boom

iTrader: (11)

I have an agreed value of 40k for my 3 Door with Competition Car Insurance.
I could probably just about rebuilt to the same spec for that.
Rich

jason_nike

So you are saying the RSOC registrars are only interested in their own cars, and all have standard cars all valued high?
Really??
Both my cars are not boggo standard, just look at the pics.
Both cars are not valued high either, in fact both are probably too low.
Remember as registrars we do this for the love of the club and the enthusiasts we meet, giving up our time travelling to meet people ensuring if something happened to their pride and joy they would have an agreed value
Just in case you haven't realised, I am the registrar for the 3 Door Cosworth, but also own others too

costina

iTrader: (1)

Jason, I 'm only going on information ive read and friends which have struggled with the valuation process. Yes there are some guys like yourself who are legit. But there are also guys who use the club for their own personal gain. I've also heard that certain models are being held back on value (The saff) not to upset the 3dr and escos owners.

Jason, Could you replace any of your cars on your agreed value be honest.

I don't want to start arguments or upset anyone I just want a fair system for all. Which is why I don't use boncaster and im not a member anymore. 15 years as a member and I could get better deals on insurance from other companies.

Sonic boom says he has 40k of cover. club insurance wouldn't even come close judging by Rods 35k.

This is just my opinion so what would you value Matts car at? as this is his thread after all sorry Matt

Regards

Paul

Mr RS500

iTrader: (6)

Paul

the problem is that people spend 30k on a car and think they should have a valuation at that

we all know this cant and never will happen

You can only value ANY car at what the market dictates and if you chose to spend thousands on your car to compete in concourse then you have to be willing to spend more on your car than it will ever be worth

Its a FACT that std cars have and always will fetch far more than modded cars

I sold my modded rs500 that i have spent over 40k on for 28k and then paid 33k for a std rs500 in worse condition , but the std 500 will always be worth far more than my modded one was

People are always happy when they get a good valuation but slag the club and registrars off when they get less than they want

If people chose to throw thousands at cars that simply never reach those figures in the open market then thats there choice , There is no way they can blame a registrar for they way they chose to blow there money

One day Saffs will see there day and values will rise and then they will see there valuations rise , but sadly at this time saffs dont fetch 3 door money so if your daft enough to throw tens of thousands at a saff then you do it , but you cant expect the RSOC give you an unrealistic valuation that the car will never achieve in the open market

Look at Rods car , i bet he has far more that 35k in his car but he knws he can expect any insurer to pay him back for all his development work

Sorry if the truth hurts some folk but thats how it is

jason_nike

Don't worry mate, not starting an argument, I`m thick skinned enough (someone said beauty is skin deep, and I have deep skin, lol, think it was the wife)
As regs we do get a lot of enjoyment by helping others, but there is always some negative comments so it does get annoying sometimes.
Personally I think sapphires are starting to increase (and sure many agree) as RS500s increased, then 3 Doors, now sapphires are the next cosworth people are looking at.
Also a lot of cosworths have either been crashed, rotted or broken (but used to repair others), so they are all getting rarer.
Either way it is good news for us owners, but it can push prices beyond others.
The valuations on my cars are not done by myself as we have to get others to value them for us, for obvious reasons.
Matts car is a very very nice car indeed, but difficult to say a value as every one is individual, but as an example my sapphire is Nouveux Red, k reg, all original panels, air con, leather, stage 1, and I would say to get the same car, same condition (waxoil underneath) would cost me around Ł7000. Some may say more, some may say less.
Marc the sapphire registrar would be able to give a current figure for valuation for Matt, I would say it is more than I value mine at, but not up on sapphire values.

Sorry I wrote a lot, couldn't stop blooming typing

costina

iTrader: (1)

Thanks Paul and Jason for your input. Tbh really don't affect Matt as he is with Flux and its down to him what he values his car at and his insurance company to quote on that.

Regards

Paul

jason_nike

No worries mate.
Always good to have a healthy discussion and voice opinions, from both sides.
Thanks for your input too

bigdel

Jason valued my 3dr at Ford Fair last year, very thorough, very honest and actually valued it at more than I valued it at myself.
I don't see this argument that Saff values are being 'held back' to pander to 3dr & RS500 owners, they're all different cars in their own right and all have their own markets and buyers, so values of Saff's shouldn't have any impact on 3dr/500 prices, and vice-versa.
It's been said before, but you will never ever get the full value of any mods back when you sell a car, so your valuation of it shouldn't be based totally on what you've spent on it.

Big Ron

iTrader: (1)

The question you should ask yourself regardless of the value put on the car by the owner or an RSOC valuation is will the insurance company pay out?
It's all well and fine saying you have a valuation with said insurer but has anyone actually had something happen and the insurance company pay out on a valuation put on a car by its owner?
The benefit of having a valuation done through The RSOC is that they deal with affiliated insurance companies who recognise valuations done by RSOC officials so should anything untoward happen your correctly covered.
As far as registrars valuing their own cars as mentioned especially standard ones at a higher premium I can safely say that this is completely untrue, you should never believe everything you read! Especially on the internet!
I'm the Series 2 registrar and I don't even own one now and my Esc Cos and Focus's are all fairly modified, I'd value standard cars most of the time at a higher value!
Being realistic as Paul mentioned Saphs currently aren't worth fortunes due to the sheer amount available and at the end of the day it's always going to be a family sports RS as it has too many doors!
I think taxi is the word I normally use! No offence intended!
People need to be realistic! It's very easy to make/obtain receipts so what's stopping everyone saying their engine has had 30k spent on it?
Values on most RS models have increased in recent years and having some form of continuity with this will only help values to continue to rise as the years go by!
In my personal opinion there is way to much of a difference to what some owners expect as a value to what it should actually be worth!
The man in Scotland that values the Saphs does go south!
I'm sure if memory serves me right he was at Knockhill, Croft, Lightwater Valley, Lakes Tour Donington and Silverstone in 2013 to mention a few, so there is no need to drive the length of the country for a valuation, other registrars are also available to view cars on his behalf should it not be logistically possible.
Unfortunately it's one of these topics that will never keep everyone happy however allows people to voice their opinion in the hope that things may come closer together.
Surely the bench mark for a valuation should be a standard concourse car with all the other permutations of aftermarket bolt ons taken into account?
I think that in the current climate a standard Car is certainly worth more than a modified car, modified products are available from the shelf, on a standard car nothing is available period so if your lucky enough to own a standard car in concourse condition surely the owner has to be a luckier owner than the man that can buy a nail for 2k and spend 10k plus on it??

Well that's my take on it, hope it makes sense!!

ginner

iTrader: (1)

100% agree with this

ajamesc

Big Ron my policy states if the car is stolen or damaged beyond repair I get 12 grand so as it's in black and white I can't see why they wouldn't pay that out

Big Ron

iTrader: (1)

I'm sure you may well get that, let's hope you don't need to try!
I've been on the receiving end of a bad pay out due to a personal valuation and it can sometimes go wrong even with it in B & W!

ajamesc

I do see what your saying but before they agreed to the policy I had to send them lots of pics and receipts for mods carried out to back up that value

bigdel

Likewise.

Even with the RSOC valuation, I had to send photos etc to the insurer before they'd allow me to add the agreed valuation to the policy.

ajamesc

My insurance told me not to send my RS valuation as it's pointless having a from saying its worth 8 grand if I'm insuring it for 12 lol

costina

iTrader: (1)

3dr james say no more

Matt Baxter

iTrader: (37)

Cheers for al the input guys esp Paul!!

Have spoken to the insurance and all they want is some good quality Pics from all around the car and the full spec,

costina

iTrader: (1)

That's good to hear Matt as long as your happy

Regards

Paul

ajamesc

I don't get what that means mate

costina

iTrader: (1)

PLEASE tell me where you can buy a nail for 2k. And its the saffs that get broken to rob parts to keep all the precious 3dr's and escos on the road.
So with that in mind theses TAXI's that have too many doors are becoming rarer and prices will go up and its unfair for there prices to be kept at a level to aid others.

Just to add that the concourse saff valued the highest is in Scotland and you know who owns it. And its a true fact that cars are cheaper up north.

Its RS snobbery at its best If it isn't standard its worth less its a club for everyone isn't it?

THERE NOT ONE CAR OUT THERE WHICH IS ORINGINAL/ STANDARD!!!!!!

jason_nike

So what`s this mean / aimed at??

Paul_RS

iTrader: (4)

A car is worth what somebody buys it for.

Close thread

jason_nike

Not what valuations are for