| Author | Message | ||
     Bill Coburn Moderator Username: bill_coburn Post Number: 1400 Registered: 4-2003 |
Our cars along with all others are expensive to fix after an accident. Along with a shortage of trained repairers and facilities the climate is ripe for assessors to write off vehicles and as a few have discovered, a large cheque is no replacement for the bucket of bolts you have cherished and slaved over for some years. There is also the discovery that you can't either get or afford a replacement even with the large cheque. One form of prophylaxis for this situation is to increase the value of your car in the insurance policy. | ||
| Jeffrey McCarthy Grand Master Username: jefmac2003 Post Number: 315 Registered: 5-2007 |
Indeed Bill - after just having scraped in with the last episode of roadside 'assistance' and added in a (not so) small fortune of my own to the repair bill I've been advised to almost double the insurance - as soon as the car is re-assembled it's an appointment with the Shannons representative waving a 2" thick sheaf of invoices. Good advice. | ||
| Colin Silver Prolific User Username: colsilver Post Number: 141 Registered: 8-2008 |
Our cars are undervalued in insurance and resale price. Insurers aren't going to insure our cars for more than a replacement would cost. I'm jacked off that my Cloud 1 is insured for $50,000. The car is worth much more to me, given its family heritage and its own heritage. I phoned Shannons 6 months ago and they said they may increase the write off amount by say $10,000, but only with many photos and approval of their assessors. I thought for the $10k it wasn't worth the effort. | ||
| James Feller Prolific User Username: james_feller Post Number: 195 Registered: 5-2008 |
Thats interesting Colin, Bill has a good point. I've found Shannons to be in all respects marvellous. Ive used them for my cars for 10 years. My premiums reduce each year, not by much mind, but go down nonetheless ( my CTP or Rego doesnt mind you....grrr) and agreed value on both my Spirit and Turbo are agreed each year. $50K and $70K respectively. In fact they rang me and asked me about the cars and yes i did supply service history and details of provenance and photos to prove the immaculate condition of each, so I could not be happier with them. I can assure you I could not replace either car for their insured value given the years of service and attention ive lavished on them and them on me. I just love them, however I respect neither have reached 'classic or vintage' stage yet...surely in another 10 years these great cars which I know are not rare in respect to models produced by Crewe however are now becoming rarer to find in this country in the condition i keep them. Colin I always assumed good Clouds were around 50-60K to buy? But I doubt any insurance company is ever going to insure a particular car for sentimental value unless there is some amazing and documented celebrity attached to it?? would you agree? (think John Lennons 600 Pullman a million pounds I heard it was valued at ) My cars are worth much more to me in sentimental value than the agreed value Shannons have on them. Even though the figures I've got them insured for are roughly what you'd pay for excetional examples I reckon, problem is you'd have trouble now finding exceptional examples collectors or enthusiasts will sell. There in lays the problem Bill has highlighted, big cheque you may get, but go find something close or equivalent now to replace and most of us would struggle! In my case, my 86 Spirit is not rare in Rolls Royce model terms, its condition and provenance certainly is though! I look at the classifieds sometimes to see if anything interesting is there and more often than not its the same heaps of s++t advertised constantly for tiny money. We all know the ones, imported HK or UK cars mostly that have had hard lives in the hands of people who mostly drive them into the ground and ended up as the dreaded ex-wedding car.... I cannot remember the numbers of Spirits produced over the production run from 80' to 97 but I think about 10,000 worldwide (nothing really in true automotive terms but huge for RR). My 89 Turbo Bentley however is much rarer in its RL or LWB form. I know only 1000 were ever produced worldwide. So Bills point is valid. I'd take the time and send them the history and photos Colin, nothing ventured nothing gained...good luck. Cheers J |
