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Topic: advise on getting a valuation for my 1991 mk2 8V  (Read 555 times) previous topic - next topic

advise on getting a valuation for my 1991 mk2 8V

Hi there

I am looking for some information of valuations of my mk2 golf

My insurance company have asked me to upload images where they will do a valuation, but I was hoping to get an independent valuation from the owners club to support my valuation figure. Its not that I don't trust them, but I think it would be best to get a third party valuation to support.

Does anybody know if this can happen or point me in the right direction to someone? or advise on the matter.

The car is a 3 door big bumper 1991 golf gti 8v - 125629 miles  :D

Thankyou so much
Sadie






Re: advise on getting a valuation for my 1991 mk2 8V

Reply #1 –
Hi, valuations can vary widely now. mileage is less of a factor than condition.

There's clean original cars, there's fully restored cars and there's everything in between, form utter rot boxes, rat look, heavily modified.

At 30+ years most of these cars need attention now, so even a good honest clean unmolested example might need work once you start poking about.

Assuming your 3 door big bumper 1991 golf gti 8v is all original and in reasonable condition I'd expect a sale price of around £5k but for insurance purposes they're normally happy to over value, say £7k.

On the other hand if you car is mint condition, you might be looking at an insurance valuation of double that £12-15k

Some pics would be helpful.

What insurance company are you with, I know some of them are very helpful and accommodating when it comes to agreed valuation.


You can also check out the usual car sales websites and auction listing (filter by sold if you can) to find cars in a similar condition to get an ideal of not how much they went for.

here's some currently for sale, prices vary from £1500 to £16,500.

 https://www.carandclassic.co.uk/list/43/mk2/
 

Re: advise on getting a valuation for my 1991 mk2 8V

Reply #2 –
Every company probably has their own way of doing things... I can only tell you what mine wanted, but may be of some use -

I found that once my own estimation of my cars value reached a certain threshold (I wasn't aware of this or what it was until it was reached) the company would no longer raise it's insured value unless it was proved through an independant assessment.

I had to arrange and pay for that, plus supply them with a copy.

They were pretty open minded as to who could do the valuation, even suggested any VW garage would suffice, it just had to be done by someone you would reasonably consider qualified to know what they were talking about... also had to be submitted in a written report format.

Over here it's a pretty limited market and there's not many assessors to choose from.

They put me in touch with one they'd previous reports from and would accept his estimation without query because of that, otherwise there was no guarantee they'd accept it.

They're not cheap - can run into hundreds £'s so you don't want to be paying for more than one.

Upside is they're usually valid for 3 years minimum thereby spreading the cost, but obviously check that.

The guy that did mine stressed his valuation is an 'insurance' value, and very likely noticibly higher than the cars true 'market' value, the idea being that if yours is a total loss your payout should cover you to find and buy a similar condition car without haggling.

Downside of a higher valuation will be a bigger premium, or harsher conditions (such as needing to be garaged or an approved immobilser etc.)

I've put this link up elsewhere, it's just their slant on valuations and not written in stone, but ball park useful nonetheless -

Hagerty