Agreed Valuation - FJ Insurance - who decides?

Hi Everyone,

I’ve owned my 5 now since 1999 and it’s always been solid and well looked after. Last year I took the opportunity to give her a big ‘birthday’ and get every little niggle sorted out… Trig’s Broom springs to mind - new wings, sill completely sorted, all bodywork rust removed, treated, fully resprayed and then finally ceramic coated. She looks a million dollars… so… this is the first time I’ve really ventured into an ‘agreed valuation’ that isn’t just pulling a figure out of my ar5e.

Does anyone know if I have to come up with the valuation, whether I ask a trusted club member to help me arrive at one, or just send them a load of photos and let them decide?

Any help would be greatly appreciated.

Responding because you are way ahead of me re ‘Every Niggle Sorted’
Never Crossed My Mind I’d Then Have Problems With Her Valuation for Insurance Purposes after I Get There !
Would Appreciate Being Kept In the Loop
Sincere Respect for What You’ve Done For Your MX5 :saluting_face:

Thanks, I will do. In calling FJ earlier it appears as though they simply use and Autotrader for comparative purposes… which isn’t a lot of use as there are only around 5 cars that vaguely match 1991 let alone anything close to my condition… one guy wants £15k for one in worse condition… so clearly it’s flawed as ‘you can ask what you like… doesn’t mean people will pay you that amount’…

So… as they don’t require proof through photos any more as they’ve ‘streamlined the system’ I’m playing a guessing game of ‘pick a sensible number’… so I’ve gone for £6k to see if that sees me through another year.

Not ideal but I guess they’re not bothered on formal valuations until you have a £30k+ car…

The premium will be based on a percentage of value - so the higher your valuation, the higher your premium,

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Only experience I have with agreed value insurance is with older motorcycles. With those, up to a certain value (£10k for my insurer) they let you put your own value on it. Over that you have to have it independently valued by someone the insurers are prepared to give credence to.

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