Author Topic: Bike valuation  (Read 701 times)

Offline RoyC

  • Wise & Enlightened
  • *
  • Join Date: Mar 2017
  • Posts: 1102
  • Karma: 7
Bike valuation
« on: 03.02. 2018 10:32 »
How do I go about getting an Independent Valuation for my insurance company ? 
https://www.youtube.com/watch?v=k5Gm_IPW8Ek

Thanks,
Roy.
My bike is a 1958 A7SS
Staffordshire UK

Online Greybeard

  • Jack of all trades; master of none.
  • Wise & Enlightened
  • *
  • Join Date: Feb 2011
  • Posts: 5917
  • Karma: 32
Re: Bike valuation
« Reply #1 on: 03.02. 2018 10:40 »
I see that I already commented your video but you have done a fabulous job!


Almost makes me want an outfit again....not really; once was enough!

Offline RoyC

  • Wise & Enlightened
  • *
  • Join Date: Mar 2017
  • Posts: 1102
  • Karma: 7
Re: Bike valuation
« Reply #2 on: 03.02. 2018 11:37 »
I see that I already commented your video but you have done a fabulous job!


Almost makes me want an outfit again....not really; once was enough!
I want to know how to get it valued for my insurance.
I want agreed value insurance.
My bike is a 1958 A7SS
Staffordshire UK

Online Greybeard

  • Jack of all trades; master of none.
  • Wise & Enlightened
  • *
  • Join Date: Feb 2011
  • Posts: 5917
  • Karma: 32
Re: Bike valuation
« Reply #3 on: 03.02. 2018 14:24 »
Soz!


I thought about getting my bike an agreed valuation after I completed it. I did make some enquiries but gave up after a while because I decided that a valuation might be lower than I wanted, or worse, less than I'd spent on it! What about asking the BSAOC if they can help.

Offline RoyC

  • Wise & Enlightened
  • *
  • Join Date: Mar 2017
  • Posts: 1102
  • Karma: 7
Re: Bike valuation
« Reply #4 on: 03.02. 2018 14:54 »
What about asking the BSAOC if they can help.
They don't do valuations.  *dunno* Don't know why not. They could charge a small fee.
 
I am a member of the American Auto Club but they only do American car valuations for members.
Roy
My bike is a 1958 A7SS
Staffordshire UK

Online beezermacc

  • Resident Legend
  • *****
  • Join Date: Dec 2011
  • Posts: 922
  • Karma: 37
  • Not for the purist!
    • Priory Magnetos Ltd.
Re: Bike valuation
« Reply #5 on: 03.02. 2018 14:57 »
Most insurance companies do not require an independent valuation. They are happy with the owner's valuation supported by a photograph. They then have the right to dispute the valuation.
Priory Magnetos Ltd - A10 spares, magneto and dynamo refurbs. www.priorymagnetos.co.uk

Online Billybream

  • Resident Legend
  • *****
  • Join Date: Jan 2012
  • Posts: 515
  • Karma: 5
Re: Bike valuation
« Reply #6 on: 03.02. 2018 15:28 »
I,m with Carole Nash for insurance and applied for Agreed Value, had to submit valuation form plus 4 colour photo's showing all four sides of the Bike.
Upon application they state there valuation officers may contact VMCC who act on their behalf as agreed valuation consultants.
I received written confirmation of Agreed Valuation direct from Carole Nash as agreed by there own valuation officers.
1960 Super Rocket, owned since 1966, back on the road 2012 after being laid up for 29yrs.

Offline RogerSB

  • 1960 Golden Flash, Plymouth, Devon, England
  • Resident Legend
  • *****
  • Join Date: Aug 2017
  • Posts: 683
  • Karma: 9
Re: Bike valuation
« Reply #7 on: 03.02. 2018 17:48 »
Hi Roy,

As far as I know the main ones for agreed value for classics bikes and cars are: Carole Nash, Footman James and Peter James Insurance. Peter James was originally the other half of Footman James but split away on his own. Footman James was taken over by Towergate Insurance at some time but still trade as Footman James.

I'm with Peter James Insurance as I remember from years ago that Footman James had a good repurtation but when these companies with a good reputation get taken over things often change for the worse.

I have comprehensive agreed value £6,500, no mileage restriction, both myself and my wife to ride, legal and breakdown cover, excess only £50.00. It's underwritten by KGB. Cost last June was £92.53. If your valuation is under £10,000 you can do it yourself after filling in a condition form and providing photos. They then get it approved by their valuer and if the valuer agrees with what you say they will insure you for that anount.  If over £10,000 you have to get a club official to value it for you. They also give a discount for BSAOC membership. I found phoning and speaking to someone was the better way.

http://www.peterjamesinsurance.co.uk/



1960 Golden Flash

Online Greybeard

  • Jack of all trades; master of none.
  • Wise & Enlightened
  • *
  • Join Date: Feb 2011
  • Posts: 5917
  • Karma: 32
Re: Bike valuation
« Reply #8 on: 03.02. 2018 17:55 »
...It's underwritten by KGB...
Really?!

Offline RoyC

  • Wise & Enlightened
  • *
  • Join Date: Mar 2017
  • Posts: 1102
  • Karma: 7
Re: Bike valuation
« Reply #9 on: 03.02. 2018 18:00 »
Thanks all.
I have found a motorcycle dealership that does indipendant valuations.
Roy.
My bike is a 1958 A7SS
Staffordshire UK

Offline RogerSB

  • 1960 Golden Flash, Plymouth, Devon, England
  • Resident Legend
  • *****
  • Join Date: Aug 2017
  • Posts: 683
  • Karma: 9
Re: Bike valuation
« Reply #10 on: 03.02. 2018 18:13 »

Really?!

Sorry should be KGM.

1960 Golden Flash

Offline RogerSB

  • 1960 Golden Flash, Plymouth, Devon, England
  • Resident Legend
  • *****
  • Join Date: Aug 2017
  • Posts: 683
  • Karma: 9
Re: Bike valuation
« Reply #11 on: 03.02. 2018 19:22 »
Something to consider regarding agreed value insurance is that if you use your bike on the public road without an MOT certificate will your insurer still honour your agreed value or automatically revert you to market value in the event of a claim  *sad2*  even though you're not required to have one by law *smile* . This is what my insurance states, but as my GF was first registered January 1960 so far I've been unaffected by it because I had to have it MOT anyway . . . but with the new historic vehicle 40 year rule coming in on 20 May 2018 it'll affect me in the future - so it seems I'll still be getting my bike MOTd.

1960 Golden Flash

Online Angus

  • Suffolk, UK
  • Valued Contributor
  • ****
  • Join Date: Nov 2012
  • Posts: 491
  • Karma: 10
  • The A7
Re: Bike valuation
« Reply #12 on: 03.02. 2018 21:28 »
I am with Peter James and the same process for all three insured bikes, complete the form yourself send in with Pictures and get agreed value. RogerSb I am a bit concerned about you comment on no MOT, I have not noticed that clause and the Norton is 52 and does not have an MOT.
1961 A7 since 1976
1960 A10 Gold Flash Super Profile Bike
1958 Matchless G80 Project
1952 Norton Model 7 Plunger
1950 T100

Offline RoyC

  • Wise & Enlightened
  • *
  • Join Date: Mar 2017
  • Posts: 1102
  • Karma: 7
Re: Bike valuation
« Reply #13 on: 04.02. 2018 06:31 »
Thanks all.
I have found a motorcycle dealership that does indipendant valuations.
Roy.
Taking it in for valuation next Saturday, having MOT done at the same time.
Roy.
My bike is a 1958 A7SS
Staffordshire UK

Offline RogerSB

  • 1960 Golden Flash, Plymouth, Devon, England
  • Resident Legend
  • *****
  • Join Date: Aug 2017
  • Posts: 683
  • Karma: 9
Re: Bike valuation
« Reply #14 on: 04.02. 2018 11:04 »
I am with Peter James and the same process for all three insured bikes, complete the form yourself send in with Pictures and get agreed value. RogerSb I am a bit concerned about you comment on no MOT, I have not noticed that clause and the Norton is 52 and does not have an MOT.


Hi Angus, I noticed that in the documents when I read through them last June but as it didn't affect me I skipped by it. I've just checked and it does say 'if required' so I read that as providing we are not required by law to have one we will be ok. It's para 2 in the Classic Motorcycle Condition Form that we had to send off to them, which I've attached here for you. Luckily I made a scan of it before posting it to them. However when the time comes (belt and braces) l'll check that with them. I'll still get my A10 GF MOTd as I ride it a lot with my wife as pillion. Like most of us here I maintain my bike myself but a second opinion once a year can't be a bad thing and also so the lack of one can't be used against me in the event of a claim.




1960 Golden Flash