Assured value insurance for my M3

[Denso]

Morning gents,

The time has come to renew the insurance on my M3. This is the first time for renewal after the full restoration was completed.

i could ask on another popular forum but honestly it will likely cause drama from the its never worth that much or if i had done it would have done this etc, etc.

Just looking for your honest opinions on what you think realistically its worth, i do realise that it is extremely unliklely that it could ever be replaced like for like.

Cheers,

Denso

 

[moonstone]

I haven’t used them myself but I know someone who used www.lancasterinsurance.co.uk for an old Ford. Apparently they use a proper independent appraiser to agree a value.

Maybe @JAYP CARS or @SkyJawa can recommend one or two. They both have classic cars as well.

 

[Denso]

Thanks i will give them a call. Still struggling to come to terms with what i think the car is worth.

Denso

 

[boba fett]

Have you Got some more info mate, miles, gearbox, year, spec, how much does it owe you??

 

[Denso]

57k, SMG, 11/2005, 3rd owner, ruby red individual 1 of 6 in RHD, 1 of 17 globally. Owes me nothing, just bought as a project way back in 2016. Finished in October 2021.

Build thread link https://www.deutschespeed.com/threads/ruby-rebuild.368/

Denso

 

[boba fett]

Given current prices, and the fact its been fully restored, factory fresh and its a rare late example, I would say £30k - £35k?

 

[Denso]

I am at the 35k mark too but i had a well known car restoration company tell me that the number should start with a 4, as fas as insurance is concerned. I cant see it being that high but they said can you replace it and i suppose the answer is no. I will see what the car valuation guys estimate is and see where i go from there.

Denso

 

[boba fett]

I am at the 35k mark too but i had a well known car restoration company tell me that the number should start with a 4, as fas as insurance is concerned. I cant see it being that high but they said can you replace it and i suppose the answer is no. I will see what the car valuation guys estimate is and see where i go from there.

Denso

No harm in £40k, its your premium mate.

 

[Ennoch]

I really need to go through this with my Impreza too as it's not a standard shitbox with rust everywhere and like your car already is, they're getting into the collectors end of the market in good condition. Sadly the average insurance company will only give you a valuation which is in line with whatever the book says, and the book is usually way too low for something desirable, as well as not taking into account any restoration work you've done to lift it far above the average standard.

 

[treble20]

I have agreed value on mine through Markerstudy via A-Plan. All I had to do was send them photos and invoices, etc. for work done and told them the figure I wanted the car insured for. Didn't quibble it at all so going to go higher on my renewal next month.