Insurance Value

[TomD]

My insurance is up for renewal at the end of the month and I think my agreed value might need updating.

What do you consider market value for a good and well sorted 1929 Fabric Saloon. It isn't concours but could be with time, has a properly sorted and balanced engine, rebuilt wheels, new springs etc over the last few years (currently on a sorn - I must get it out). I know there is one coachbuilt on the market through a dealer.

Thanks in advance.

Tom D

[Ian Grace]

Hello Tom,

Nice to see you popping up on the Forum again.

Off the top of my head, but having owned this car, I'd say about GBP 6 to 7K for a valuation. Probably better to err on the generous side. If you'd like me to put that on paper from the VMR, just let me know.

ATB,

Ian

[DF9053]

Hi Both,

I would argue that the market value and insurance value are two very different beasts.

Many clubs used to put insurance value up to try and protect cars that were damaged particularly as repairs to vintage and classics can be so expensive and also I belive to reflect some of the historical significance of the vehicle. There is a move now to reflect proper market values in agreed insurance arrangements, ignoring the historical significance and also the high cost of repair. It might be worth a conversation with your insurance company to see what their approach is.

However you asked for market value - I think that £6-£7k is too high - you won't get this price on the open market. In addition are quite a few examples of cheaper cars that have taken many years to sell. In my view £4.5-£5k is nearer the mark.

Sorry if this sounds antagonistic it is not meant to be, just reflective of my experience of the market value of an ohc saloon.

Cheers
Jeremy

[Tony Gamble]

Hi All

To add my twopennyworth .....

I think that a '29 OHC Fabric Saloon in really good condition would be valued at £7k , and , not just because I have one , but these early OHC Fabric Saloons are much more "vintagey" than the coachbuilt saloons, and are somewhat rarer.

The "Maltby" Fabric Saloon that our leader has recently purchased for around £4k gives the sort of valuation that would apply to such a vehicle requiring some restoration, when a figure of £2-3k might have been given to a coachbuilt saloon in the same condition.

Stick to your £7k valuation. I think that it's realistic.

Tony G

[TomD]

All
Thanks for your input - I've opted for £7k for insurance, and upped all my other old cars as well. Market value is a bit academic as I am not planning on selling. I will hopefully get the brake lights working next week and then I can get the Minor MOT'd and back in use for the first time in about 4 years.
Tom

[Ronald]

Who needs brake lights............................LOL!!! the brakes are only there for a small effect, so why bother with lights.................

[Ian Grace]

Tom,

Delighted to hear that my old fabric saloon will soon be back on the road - and in time for the Hatchagte meet this autumn?

Keep us posted,

Ian