28-05-2020, 10:13 AM
Following on from my previous post I coincidentally have been renewing my RN insurance for the year. I've left the estimated value as per last year and wondered how the insurance companies assess the value in the event of an unfortunate write off.
It seems there is no consistent level to set the value against and it must vary considerably depending on condition, rarity and provenance etc.
We all probably assume that we own the very best example of the breed and ours is the most valuable car in existence but there must be set standard from which to work.
I, like most, keep an eye on what the market is doing and get more confused day by day.
The old adage that an item is only worth what someone is prepared to pay for it surely applies.
Fortunately WV1605 is going nowhere, I've never been so in love with a car before, Alfie is my pride and joy as my wife constantly reminds me!!
It seems there is no consistent level to set the value against and it must vary considerably depending on condition, rarity and provenance etc.
We all probably assume that we own the very best example of the breed and ours is the most valuable car in existence but there must be set standard from which to work.
I, like most, keep an eye on what the market is doing and get more confused day by day.
The old adage that an item is only worth what someone is prepared to pay for it surely applies.
Fortunately WV1605 is going nowhere, I've never been so in love with a car before, Alfie is my pride and joy as my wife constantly reminds me!!
Buy an Austin 7 they said, It's easy to work on they said !