Underwriters think agreed value is excessive.

I've just got my pictures back, from Footman James, with a letter saying the underwriters have compared my car to current market value and think that the proposed amount is excessive.

Boo!

I'm willing to lower it but what if I'm knocked back again?

What annoys me is that my premium is based on the initial agreed value amount 

what do you value it at?

What value you asked for ?

Spooky posting !!!

5k  

I crumbled under peer pressure.

It's up to you to find comparable ones with the price bracket you indicated. Then you have evidence to show their valuation is wrong.

that it you have to gather evidence of compaible ones to prove it really

i would include even GTI version with a cover note providing evidence that small block version are now rare compared to the gti as they were a less popular model

if you argue they will give in but you may have to meet them in the middle unless you put together a strong case

my mk1 diesel is @ 3k so 5k isn't to far out imo

Do I just print off adverts from say eBay, Pistonheads etc?

Do they have to be unsold or can I use recently sold?

Small blocks are tough to find so I may well include GTi's like you say JB  

Did they hint at a value that wasn't 'excessive', in their opinion? It could save some time.

And another question - how much did you pay for the car, what have you done to improve it since then (if the value you're claiming is higher), and how much did you pay for this work and parts?

No, no hint. They said that they'd accept a car club valuer or specialist dealer quote though.

Bought for £1720.
Spent 4k+ (haven't actually worked it all out!).

Full respray, welding, new arches, door, bonnet and other bits.

Replaced water pump, fuel pump, starter motor etc. Not a full engine rebuild but replaced everything.

It's interior will be retrimmed at some point too.

Does it seem excessive? Please be honest  

If it needed full respray and welding then it probably wasn't worth £1720 to start with….if it didn't, then you can't realistically expect that money simply added to the value of the car.

Have a look at the price guide on the home page, you'll see that the £1720 and £5000 are way off those values.

£1720 is what I paid for it 4 years ago.

The full respray was because over the past 8 owners each one had added their bit and it was three different blues  

I'm happy to lower the agreed value and don't expect any of the money back that I've put into it but I'm finding it hard to value it as there aren't so many original Formel E's around  

That price guide is a bit depressing.

Guess I should've bought a GTi  

Finally, Oreo is agreed for £4k.

It's what I would've been happy with originally and now I can enjoy him again!

     

The Guide price is not even close to current prices cars are selling for. Under 2k for a concourse small block S2 with less than 30k…..if anyone has one to that spec for sale for that price let me know

 MK1 Prices seem to be through the roof. deffinatly a sellers market at the moments.