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Insurance valuation


dougbgt6
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A number of the East Berks faithful were going to SEM to get their car valuations, but no SEM, so I'm going to do it. I got trained a couple of years ago, but only did my first recently and I'm once again familiar with the paper work. However, the "money" document doesn't appear to me to have been updated in at least the 7 years I've been back in the club. A concours version of my car hasn't changed value in 7 years.There are also anomalies, the gap between A1+ and concours varies considerably from model to model. 

GT6 mk3 goes up 17% A1+ to concours,  a  2000 however 106%! I think 2000 A1+ is too low, the whole thing needs reviewing. A bit concerned as I've two 2000s to do! I would have raised this at the AGM, but it's gone the same way as the SEM.

Doug

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I am not sure which document you are referring to but the valuation document, unless I am wrong was updated this year, 2020. Possibly you have been given an old version. If you ring TSSC I am sure they will correct you by sending an up to date one.  

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23 minutes ago, dougbgt6 said:

Nigel,

Yes, this is available on the front page of this site. But as far as I know the numbers haven't changed for years.

Doug

I see what you mean. The PDF table on the website states 'Revised as of 02/2020'. I've just pulled out a copy 'Revised as of 1/9/18' and it looks the same. Suggest you take it up with CoM.

Nigel

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I'm way behind the times with my GT6 valuation, so must get proper photos and have it updated. 18 months ago I offered it to someone for £7500 - I think that's close to what it's currently insured for, and has been for quite a few years - then found out that Insurance-value-wise it's worth £20000 and would realistically sell for between £12000 and £14000; even then I'm probably undervaluing it. This is a timely reminder to me to get it done!

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Hi All

The Tssc car insurance valuations are looked at every year, we make changes when we see the need to.

we have just done this in Feb 2020 hence on the bottom of the current sheet it has this date, some times we don’t change the values depending on market value.

It’s not done by percentages it’s all done by constantly viewing the market place etc 

Two  years ago we started putting the date on the paperwork so that members could see they have the current version 

 

I am personally very unhappy with any Area organisers doing valuations at this time .

I recommend that any one who needs a valuation they should send them into Bernard at Tssc hq until further notice please 

 

Hope this clarifies the situation 

 

Chris Gunby

 

Tssc chairman 

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Thanks Chris,

I missed the date on the form, I've got some old ones and they never appear to change, certainly on the GT6s which is what I check. I was supposed to value a couple of 2000 so looked them up and was surprised that the value more than doubles between A1+ and Concours. None of the other models are anywhere near that.

As regards doing the valuations I agreed to it at our last meeting if SEM was cancelled, things didn't seem so bad at that point. But after this evening's announcements I'm sure you're right, so no valuations.

Doug

 

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  • 2 weeks later...

I had both of my cars (13/60 and TR4A) revalued by Bern earlier this week and it was a very simple process. 

Downloaded the forms from the website - completed them , scanned them and emailed the scans along with supporting photographs to Bern at courier@tssc.org.uk

I had the old valuations for both cars so also scanned those and sent them as additional supporting evidence. ( The Herald one was a valuation done by Bern at the SEM)

As the office is closed Bern was unable to take payment in the usual way so simply emailed me the club bank details and asked me to pay by Bank Transfer which I did and then emailed both Bern and Trudi a copy of the payment confirmation. 

Electronic copies of the new valuations received a couple of days later along with confirmation that they had been sent direct to my insurers.

All in all a very simple process and well worth doing to make sure that both cars have the necessary agreed value cover in place for a further two years. So Thank you to Bern and Angie and the rest of the COM for keeping this great club running during the most difficult of times.

Andrew 

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