Insurance Valuation.

[Paula-NRR-796K]

Does anyone know what the approximate insurance valuation of an MG Costello should be. My Insurance Co. didn't have a clue ! I said £15K but they wouldn't go for this.

[lawrencew]

Paula,

Its a very fickle business and no doubt your response will differ from one agent to the next. They tend to base their decisions on the sales prices of similar (non-Costello) cars in the marketplace. Costellos tend to command 10% or more than their factory V8 siblings.

Mine is insured for something very close to what you quote here, but is on the road and used several times a week.

Use this as an incentive to get yours running again, and then you'll have amore compelling case to ask for the 15k valuation :)

Lawrence.

[Richard M Fairclough]

Paula,
I would try Peter Best Insurance , ask for Julia Richardson and tell her you are a friend of mine for a quote and valuation. Tel Number is 01621 854485

I've put all my insurance through them and they are very, very competitive . I'd try for a £20k valuation. If  we all go for the same sort of valuation, someone will start to listen..mine would cost more than £25k to replace anyway...

Kindest regards,

Richard

[lawrencew]

I also use Best insurance, but they told me that Costellos are so rare that I had to be "absolutely sure" that mine was a genuine car! My original receipts for the conversion just about persuaded him. Insurance is based on "steal-ability" in the end, and these cars, being fairly rare, and sought after, will be a target if left on show. As valuations of all second-hand cars are usually based on prices fetched at auctions (first) and private marketplace sales (second), you can be sure the insurance companies dont really know what they are worth. I agree with Richard - we all state 15-20k required to rebuild our cars to same spec and we therefore have an agreed figure :)