Agreed Valuation

[minesapint]

In renewing my insurance this time, I’ve gone for an ‘agreed valuation’ on my policy with Lancaster Insurance.
I’ve to send-in photos of the car, description, etc. Have any of you guys any useful tips for me whilst going through this process.
I honestly have little idea of what value to apply for, I’d ideally like to be able to reference other similar cars values as examples for Lancaster, but am struggling in these very weird times.
Bought new in Aug 1986, 325i cab, completely original, rust free, everything works faultlessly.
Any help would be very much appreciated.

[OldEnglish68]

A one-owner, faultless, manual 325i cabriolet with only 24k?

Oh boy

Treasure, totally worth insuring at Agreed Value as replacement virtually impossible.

Have you kept ALL the paperwork since day 1?

Surely north of £25k?

Just my 2p. Supposedly with a finger on the pulse of the current market, can auctioneers help with valuations?

From what I can tell, Historics of Brooklands have a history of estimating pretty closely to market value in this sector - maybe worth talking to them?

Silverstone also - they did a pretty good job with a couple of Sports last year.

Re photos: Insurer will probably ask for 6 pictures. Suggest you take dozens and keep a file, send them at least 10-12, including at least 4 detail shots to finely illustrate condition.

Lovely car!

[Elsalmon]

Absolutely stunning. Looks fresh out of the box.

[rix313]

Its a pretty painless process when ever I have done it. Pictures from all sides, interior and engine bay as you have done. Fire them a number you want and then go from there. In my case the number I asked for they went with no questions.

[JungleGus]

Agreed with Rich - always been a simple process for me. Never had to claim however

[Ukhozi]

So worth doing it, even on a 'clunker' s even they are worth a lot now.
I love that car, so original.
I tried to get agreed value insurance in Spain but it is all but impossible. I pay 180€ TPFT with recovery, glass, and legal but when I had my 'shunt' they only paid out 1038€ and only then because i t was re-registered in 1995, as a 1987 I would have had 600€ scrap value, the only company that even showed any interest wanted 350€ TP only, which is ridicules considering my age (74) , driver only, limited mileage, and 50 years without a claim my fault.. I could insure my Eagle SS VW kit car fully comp for 125 pounds in UK in 1999, gone up a bit since I guess.

[Hinny]

There was one of these that sold at auction wasn't there the other month, Cabrio, 325i, low miles in blue or silver? Could use that as the base point and work out if yours is better or worse than that?
Surprised more popular car models (like E30s) don't do what the Mini Owners club have done and have valuations through the club, from what I understand it can be a lot less painless and as its an independent 3rd party IF you're unlucky enough to need to claim, most of the knowledge with which to argue the case are on your side.

[minesapint]

Cheers for info, have you more details of car that sold at auction I can pursue?

[Hinny]

Struggling to find it... seems lost in the sea of articles about a 325i M-Sport being sold for 51k and an M3 topping 250k!
Nevertheless, I hope this helps, but it wasn't what I was thinking of.
https://www.classic.com/m/bmw/3-series/ ... nvertible/

[DanThe]

BMW Car Club, which is the only UK club recognised by BMW, will do you a valuation for your car for an insurance policy

https://bmwcarclubgb.uk/categories/valu ... poses.html

[TurtleDesignTech]

BMW Car Club, which is the only UK club recognised by BMW, will do you a valuation for your car for an insurance policy

https://bmwcarclubgb.uk/categories/valu ... poses.html

Did mine via the BMWCC recently. Very pleased with the result.

I sent them a large array of pictures: all the way around the car, the work I have done over the last few years, receipts and service history.

They did a great job of doing background research to come up with a justifiable figure.

[minesapint]

BMW Car Club, which is the only UK club recognised by BMW, will do you a valuation for your car for an insurance policy

https://bmwcarclubgb.uk/categories/valu ... poses.html

Thanks for this.
I’m thinking this is the way to go before I complete with Lancaster Ins. It’ll give me a good idea of value & if Lancaster come back at me with a lower valuation I’ve some ammunition to fight with. Only problem is BMWCC are saying six weeks to complete a valuation! Plus £50.

Also thanks to all you guys who have replied, all very helpful.
Cheers.

[Satan]

Most insurers for an agreed valuation will require you to send in 8 photographs of the car, also make sure that the policy you have allows you to keep the car in the event of a write off (won't happen if the damage is so bad the car needs to be crushed) as then you keep the car and get the payout and can repair at your leisure or do a contract repair.

[minesapint]

Most insurers for an agreed valuation will require you to send in 8 photographs of the car, also make sure that the policy you have allows you to keep the car in the event of a write off (won't happen if the damage is so bad the car needs to be crushed) as then you keep the car and get the payout and can repair at your leisure or do a contract repair.

Very good point Satan, I’ll make sure that is put in place.
Thanks for the tip.
Cheers