Agreed Value Insurance
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Author:  Jarsee [ Mon Oct 07, 2019 2:58 pm ]
Post subject:  Agreed Value Insurance

I've just renewed the insurance on my ST185 RC and have the option of having an agreed value payout in the event of total loss, so the question What is it's value?
I know what I payed for it a couple of years ago but where are values now. The only one I can find currently for sale is £13k but what do other owners have their RC/CS insured for or has anyone sold theirs recently or know of any that have been sold.
As with other rare cars you can't just go out and buy a replacement but having a decent payout would soften the blow.
Of course we'd all like as much as possible in the event of loss but the value needs to be realistic and justifiable to the insurance company.
Any advice would be greatly appreciated

Author:  CheltGirl [ Fri Nov 22, 2019 12:20 am ]
Post subject:  Re: Agreed Value Insurance

How did you get on with this? Did you come to some arrangement about the value of your RC?
I tend to keep copy details of CS ads that I come across - you never know when the info might come in handy

Author:  Jarsee [ Sun Nov 24, 2019 9:07 pm ]
Post subject:  Re: Agreed Value Insurance

I ended up not doing an agreed value because I couldn't provide any evidence of values.
I think I'll do the same and record deatails of any I see for sale in the next 12 months and hopefully get an agreed value next time round.
When you see what other homogation cars like the Lancia Integrale, Audi quattro, Escort Cosworth and BMW M3 are going for it's easy to start thinking about £££££ but it'll take a few to be sold before values become solid.

Author:  Jarsee [ Sun Dec 05, 2021 2:01 pm ]
Post subject:  Re: Agreed Value Insurance

Just renewed again and managed to get an agreed value of £13K. To get this I had to provide pictures of the car and evidence that it's one of the 5000 homologation cars by giving the type number and VIN, also gave info from wikipedia and Turbocelica.nl. to back this up. I also gave details of ads for a couple of CS's for sale recently at around £16K.
I'd asked for a £15K value but need a valuation from a member of the Institute of Automotive Engineers and Assessors for a higher value. It cost about an extra £30 on the premium for this from Adrian Flux.
I'd still be interested in other owners experiences

Author:  Nibbles [ Mon Dec 20, 2021 2:55 pm ]
Post subject:  Re: Agreed Value Insurance

Values have rocketed over the last few years, I'm led to believe it's related to US import regulations. I haven't been keeping track personally, but I've been hearing figures of 10K and beyond for normal a-a 185's, never mind the RC/CS ones. I'd say 13K is probably on the low side for a VGC one. Makes me glad I've hoarded so many GT4's and even makes it viable to restore my original 205 I saved from scrap - restoring that alone would pay my factory rent for another year to cover the time needed.

Author:  Jarsee [ Tue Dec 21, 2021 8:42 pm ]
Post subject:  Re: Agreed Value Insurance

As well as the financial gain in rising values it's also good that cars needing repairs or restoration can now be viable putting more on the road.
I've heard about the US imports effect too as cars can be imported easily when they reach 25 yeas old but not sure if it's had much effect on the GT4, certainly nowhere near as much as it's affected Skyline GTR values.
In Europe you'd be lucky to get a decent CS for under 20K euros, more like 30K plus.
I agree that £13K is too low and I wouldn't be able to replace it for that or even get anything similar, definately not another Group A car like a Ford Cosworth, Integrale or M3, probably not even an Impreza or EVO. It seems crazy when pretty run of the mill fords are up for £20K to £30K and 205 GTI's for £25K. There's an Escort Mk 3 RS 1600i with a dealer for £42K.
It does make me think about when and where to drive the car as I'd hate to lose it and not be able to replace it.
As I said I'd be interested in other owners experiences with agreed value policies as I'd consider switching to an insurer who puts a more realistic value on a CS/RC.
Does anone know how many CS/RC's are in the UK? How Many Left doesn't indicate which model, just GT4. Licenced 368- Sorn 745.

Author:  Nibbles [ Mon Dec 27, 2021 8:44 pm ]
Post subject:  Re: Agreed Value Insurance

GT4's have always been very low in the UK compared to cossies etc. Europe prices have been much higher. I suspect the fact JDM cars are RHD and an easy import to the UK, coupled with their laws making old cars unviable beyond 10 years has been to blame.

I remember a time when RC/CS were going for about £3K and the a-a about $500. I bought my 185 just before that for £1500 and was kicking myself as I could have got a better one for less money a couple of years later. The 205's were about £3K to £4K at the same time.
Prices started edging up after that as they became rarer, with many being scrapped for minor issues - head gasket on the 185's and ringland failure on 205's. It's only about the last 5 years prices have really shot up on 185's and then 205's, coinciding with 25 years old.

Author:  CheltGirl [ Sun Jan 02, 2022 7:14 pm ]
Post subject:  Re: Agreed Value Insurance

Who did you insure with this year?
The trouble with the How Many Left website is that so many CS's are not listed as such. Not only that, they aren't necessarily even listed as GT4's !!

Author:  Jarsee [ Wed Jan 05, 2022 9:49 pm ]
Post subject:  Re: Agreed Value Insurance

I insured with Adrian Flux for £140 with the usual classic ploicy restrictions such as limited mileage and garaged overnight.
Yes I agree that HML isn't accurate and it would take a club register to get any thing like accurate numbers.
Turbocelica.nl shows 19 RC's, from 156 to 1656 and 139 CS's from 2467 to 2950 in the UK but this info is a few years old.

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