What's It Really Worth?

[REPLIC8]

How do you all go about valuing your cars for insurance. I've got mine insured for the purchase price at the moment, but are there any club officials or similar who can give an accurate written valuation of a TR7/8? My car is a replica UK spec TR8, so it's value is hard to determine, there is no market value for a car like this, it's worth what someones prepared to pay for it. (It's not for sale!) Our cars seem to be anywhere between £0 to £10000 so an accurate professional valuation would be usefull to get agreed value insurance. [:)]

Andy
1981 UK SPEC TR8

[FI Spyder]

You'd have to find an approved evaluator, your insurance company should be able to help.

Here in BC it's a little different, although you can get an evaluation (there's someone in ICBC that does it) you can assess your own value like I've done at $5 per $1,000. I've got mine evaluated at $10,000 so I pay and extra $50 every year for a total of $236.00/year for a Collector Plated car.

ICBC had evaluated a club members TR3 at $56,000. They had gone over it with a fine tooth comb looking for bondo (none) etc. It did have the original seats from one of the TRS cars that won the team first prize at Lemans.






TR7 Spider - 1978 Spifire - 1976 Spitfire - 1988 Tercel 4X4 - Kali on Integra - 1991 Integra

[Underdog]

Over here the agreed value classic ins companies seem to go along with rather high values within reason. The coverage is so cheap that it doesn't pay to scrimp on the value. I have mine (US spec TR8) at $15000 US. That's more than I could sell it for but probably what it would cost to duplicate if it were a total loss. I would carefully consider what the real world replacement cost would be and add a bit to that. Back when I got rearended it was insured for 12,500. I was glad because it was high enough to keep it from being a total. Hope that helps.

Jim Underwood
72 MGB BRG
80 TR8 Persian Aqua
If women don't find you handsome, they should at least find you handy.