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Discussion Starter #1
As some of you may have seen my 1982 Alfetta GTV 2.0 vanished back in later October.

I am still awaiting a positive response from the insurance company, before escalating this next week to the Insurance Ombudsman.

I can only find two sources for classic car valuation online, Hagerty (£5800) and Practical Classic (£4500) for the value of a fair usable classic.

An insurance investigator used by the insurance company took over three weeks to offer me £3500 and gave no reasoning for the valuation apart from I don't think it is worth £4500 as per Practical Classic.

The car was insured with a value given by me as £5500.
I sold a similar 1986 car in May 2017 with a signed receipt and export documentation for £5000. This car was previously also insured with the same insurance company at a value of £5000, so they had four years of insurance based on my value of £5000 or £5500.

The car originated in Sweden and was rust protected from new, so not anywhere near as rusty as many I have seen.
It was a LHD and I personally drove it from Norway to the UK in 2017 without issues.

Needless to say there is a limited number of Alfetta GTV 2000 for sale (including abroad) and those that are for sale have very different condition and cost as links below shows:

https://www.carandclassic.co.uk/car/C1081066

Do any of you know the best approach for a valuation discussion with an insurer on this total loss claim or a third party valuation source other then those two mentioned above?

Any assistance appreciated.
 

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Hi,

I’d contact Alex Jupe who looks after the Alfetta register for the Owners Club.

He’ll have the best idea re valuations and will hopefully be able to draft up something official, especially if you’re a member already but he should be able to help anyway if you’re not.
 

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Was it insured on agreed value?
 

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Discussion Starter #4
They asked me about the value when I insured it with them and did not object or ask for further information.
I have a multi car policy and buy and sell cars 3-4 times a year. This is for my own gratification not as a business.
 

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They asked me about the value when I insured it with them and did not object or ask for further information.
I have a multi car policy and buy and sell cars 3-4 times a year. This is for my own gratification not as a business.
Sadly that wont be enough, for AV the minimum required is photos and detail from yourself but always best to get club valuation and make sure the AV is written in the insurance documents.
 

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I have just renewed my insurance on my 916 V6 Spider. I don't have agreed value insurance. The wording of the agreement is that, in the event of a claim, they will pay up to, but no more than, the market value you are insured for. So I would anticipate a similar correspondence about the value of my car, in the event of a claim

Last year I had a market value of £6,000. As prices seem to be increasing I increased this to £8,000 this year. My premium increased by £60 as a result.

Quite a few years ago I had a motorbike stolen and had a battle with the insurance company as it was a classic bike and there just weren't many available for sale, for a price comparison. In the end I got a reasonable settlement by submitting a file containing copies of articles in magazines, highlighting its rarity and collectable value.

Good luck!
 

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It's a shame but agreed value policies are quite cheap, first of all what did you pay for the car, any proof of purchase, secondly argue all day long with the insurance company that £3500 won't replace it. I'd say argue for £5000 minimum, you can only try, there aren't any on the market for that price so they will have nothing to argue with
 

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Tell them to go out and get you one for £3500 in the same condition.
 

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Discussion Starter #9
Finally had a settlement today for £5500, minus my excess of £500 due to LHD and imported.
Reasonably happy with that as I set the value originally in December last year.
Granted, I'd be lucky to find one for sale in the UK in drive-able condition for £5000, but at least better then the original offer.
I guess the moral here is to aim for agreed valuation insurance in the future or hope not top get another total loss.
Now busy trying to find a replacement :)
 

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Well not a bad result I suppose, happy shopping!
 

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Discussion Starter #11
Just waiting for delivery of another Alfa to replace the Alfetta.
Decided to go for another Spider but an older version. 1978 S2 LHD so it fits in to my lifestyle in Italy.
I also have my eye on a 1974 Spider, but might just have missed the boat on that.
I wonder what the group name for three Spider's might be :)

So still looking to sell thew 1984 Spider (LHD) and a 1998 GTV 3.0 as my efforts will be focused on the "new" 1978 Spider and a BMW K100 over the next year(s)
 
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