insurance valuations

General natter about Datsun/Nissans

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stevenewenham
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Location: Auckland

insurance valuations

Post by stevenewenham » Wed Jan 15, 2020 7:34 am

After 2 260 coupes have changed hands in the last month for $55k and $50k
I figured I should nudge up my cover, but the insurer requires a valuation before they will do it.
Does anyone know of a suitable valuer ?

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bernjean
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Re: insurance valuations

Post by bernjean » Wed Jan 15, 2020 8:16 am

I think we can do it through the club. I'll find out but I am sure it has been done before.
I increased mine not long ago. I asked for $35,000.00 on my car. they wanted to know what I had done to increase the value and I told them that these cars were becoming more collectable and market values had risen. They seemed happy with that.
Bernie Kant
Club President

mikec(nz)
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Location: Tauranga, New Zealand

Re: insurance valuations

Post by mikec(nz) » Wed Jan 15, 2020 10:10 pm

Classic cover/JRI insurance did not require a valuation until well in the six figures. For the camaro race car we used Mark Joblin for a valuation. Comprehensive and well priced. Insurance company accepted it without question.

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mikey
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Re: insurance valuations

Post by mikey » Thu Jan 16, 2020 6:42 am

I've had a valuation before and found the whole thing a bit Mickey Mouse.

He was a well known valuer and more or less asked me to pick a number that I thought the car would be worth because he didn't really know. This is for a 240z.

¯\_(ツ)_/¯

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stevenewenham
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Re: insurance valuations

Post by stevenewenham » Thu Jan 16, 2020 9:47 am

Thanks for the response everybody.
Bernie,I am interested to see what you find out re doing it through the club.

Mikey, my experience was similar to yours last time I had it valued some years ago,ie pick a number and if it doesn't sound ridiculous
the valuer will go with it.
I switched insurers a couple of years ago because the one at the time wanted photos before increasing, which I supplied , and then
asked for a valuation in addition.That was what prompted me to look for an easier path..The new insurer did not require any of that,
but now do to increase.

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bernjean
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Re: insurance valuations

Post by bernjean » Fri Jan 17, 2020 7:43 am

Will do.
Bernie Kant
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BRONZEE
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Re: insurance valuations

Post by BRONZEE » Tue Jan 21, 2020 11:20 am

For current financial members we have done valuations, usually carried out by a senior member of the club, as most of the classic car insurers realise that senior member of the club will obviously know a lot more about them, than someone doing the odd Z valuaton.
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bernjean
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Re: insurance valuations

Post by bernjean » Wed Jan 22, 2020 7:23 am

Hi, Guys, I will draw something up for Steve and bring to committee meeting. I think it is important that the committee sustains anything that goes out on behalf of the club.
Bernie Kant
Club President

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Skiwi
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Re: insurance valuations

Post by Skiwi » Thu May 28, 2020 8:12 pm

Can’t you just do an “agreed valuation”? That’s what I did with both my Zs

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Skiwi
When you drive a "Z" the destination is moot

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bernjean
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Re: insurance valuations

Post by bernjean » Fri May 29, 2020 9:06 am

They will only do an agreed value if they are happy with the amount, and you usually have to show how you come up that that figure, could be receipts of the work done to it or cars that have sold for around that price. We as a club are considered an authority on these cars so they will happily accept values from us.
Bernie Kant
Club President

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