Agreed upon value for SPF MK1 Cars

Dave Hood

Lifetime Supporter
My current insurance company, Infinity Insurance, is existing the classic car business. As I'm looking at alternatives, I also want to increase my agreed upon value. My current policy is at $136,000, and I'm thinking it should be closer to $175,000 at this point. The companies I'm considering are asking me to provide them with examples of sales prices for other SPF cars manufactured about the same time as mine (early 2007). They said they need that in order to increase the agreed upon value amount.

If anyone has one of the earlier cars and has sold it in the last couple of years, can you please message me with any data I can use to support (or not) my assumption that I should be using a higher agreed upon value? Thanks.
 

Julian

Lifetime Supporter
SEND THEM A HILBANKS ADD.. THEY ARE $175,000 TO $225,000
That's for a new one though, not 10 years old and I appreciate that may be the route one has to go to replicate a total loss, but insurers don't work like that. I had to search around and find actual sales data for ERA's (advertised price was unacceptable), but with a low volume market that is tough, even more so as these cars often don't do well at auction and private sales are not recorded anywhere. Then there's the whole engine spec and transaxle equation to translate into a level playing field as well.

As much as you might not want to hear it the $136K probably isn't far off the average used SPF sales I have seen unless recent sales have been buoyed by the Ford v. Ferrari movie.
 
That's for a new one though, not 10 years old and I appreciate that may be the route one has to go to replicate a total loss, but insurers don't work like that. I had to search around and find actual sales data for ERA's (advertised price was unacceptable), but with a low volume market that is tough, even more so as these cars often don't do well at auction and private sales are not recorded anywhere. Then there's the whole engine spec and transaxle equation to translate into a level playing field as well.

As much as you might not want to hear it the $136K probably isn't far off the average used SPF sales I have seen unless recent sales have been buoyed by the Ford v. Ferrari movie.
My insurance company (Zurich) insured my car for an agreed replacement value of a brand new car.
 
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