Insurance Valuation V6 Spider

allandwf

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10,958
Does anyone have access to Insurance valuation of a 2002 Alfa Spider 3.0 V6 , 72000 miles in excellent condition? The arguments have commenced. PM me if better.
 

conaero

Forum Owner
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34,593
I stuck it into one valuation website and it came out at £1400!

So I think you have to go by what's for sale, take the average of 3 then take off 10% but the v6 spider is so rare you won't find 3 for sale.

My gut feeling is about £5,500
 

conaero

Forum Owner
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Call Lancaster insurance and get one of their leisure limited mileage policies, that's what I did. I told them £9k and they didn't question it.

Think it was just over £200, considering I had no, no claims to use on this car, I was happy. Can pay monthly too by DD.
 

allandwf

Member
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10,958
I stuck it into one valuation website and it came out at £1400!

So I think you have to go by what's for sale, take the average of 3 then take off 10% but the v6 spider is so rare you won't find 3 for sale.

My gut feeling is about £5,500
That's the figure I quoted them as a true current market value. I still have the advert saved for my car when I bought it 10 months ago, that I forwarded to them. I have also used current advertised cars. Plus I have the known prices paid for the last three sold by the trade. I'm quite prepared for this to be long and drawn out, so I want to get the car indoors if I can.
 

allandwf

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Thanks all. I have just written to them again, quoted the current ads, my ad from Dec 2014 when I bought it, plus confirmation from dealers of what was paid for the last three known to have changed hands. I do believe the 5.5 is low, as the current average is around 6 to 6.5k. but that is what I stated as the market value when I took out the policy so personally I can't quibble too much about that. I have asked them to source me a suitable replacement instead of their cash offer, won't hear back now until Monday or Tuesday I would think. I am quite prepared to wait this out, though I want the car under cover sooner rather than later. I will update as and when I hear something.
 

allandwf

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Latest update. I found a thread where someone had their 3.0 Spider rear ended and written off. They were initially offered £2600. Same year as mine but only 23,000 miles. After all the wrangling they were paid out £7250 just in August. (I don't expect that as mine has 72,000.) I sent the insurance this info also. It has now been handed to an Independent assessor, not sure if this is a good or bad thing. Might they decide to repair it after all? I have to wait now for their report.
 

2b1ask1

Special case
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20,220
Good luck with the wrangling Allan, morning campers, off to sunny Newcastle this morning with a glorious V8 sound track...

Have fun all...
 

allandwf

Member
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10,958
An update re the Spider. Independent Assessor called in, car valued at £6500, which insurance company accept. So it will be coming home and a reasonable cash settlement eventually. Thanks to all for their input and advice.
 

allandwf

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10,958
:) Got the Spider back home today. I must say I expected the damage to be a lot worse. I'll remove the bonnet and whats left of the bumper tomorrow and have a proper look, but radiator and oil cooler are all intact.