What value would you put on a Electrique ?

If you own a Electrique or any of the other PSA range of vehicles then look here for your answers and post your questions or general views here
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ChrisB
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What value would you put on a Electrique ?

Postby ChrisB » Wed May 20, 2009 5:17 pm

Heres an interesting one for you all..........

Currently having a little ding dong with Fluxes regarding trying to work out a agreed value for the insurance cover on my Berlingo :roll:

Currently they are stuck at £3000, which in my opinion is quite low for a fully running berlingo in very good condition with 27k on the clock and a very good set of batteries still able to easily hit a 50 mile range.

They are now saying if I want to contest this I need to get an independant automotive engineers report on the vehicle, like they will understand what makes a berlingo electrique tick :roll:

So what value would you put on your Berlingo ?

Bearing in mind if you had to replace it with another (which in theory wouldnt be a easy thing to do)

ChrisB
I reject reality and substitute my own !!!!!!

Grumpy-b
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Postby Grumpy-b » Thu May 21, 2009 7:57 am

Recent e-bay sales have varied between £1800 and £5k. £3000 for an older one isnt unreasonable. I do think that if the vehicle has a verifiable set of recent batteries then thats a good reason to up the value given the proportion of the value that the batteries hold.
I cant recall my values, but I think one is £3k and the other £4k. I am with NFU who will do modified vehicles, Business use and are nice to deal with. My Previous insureres were Co -op who were excellent, cheaper, did business use but would not do modified in any way. Footman James will not do any form of modified.
Modified in all cases starts from a simple replacement of the wheels with alloys. SO be warned.

Grumpy-b

gwing
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Postby gwing » Thu May 21, 2009 8:38 am

£3000 does seem rather low Chris. There again if it is actually worth 5K and the insurance company values it at 3K that would be in line with the one and only time I have had a car written off :cry:

Methinks it might be a good idea to find a friendly independent assessor who is interested in becoming an electric vehicle specialist and getting custom from BVS members. Fluxies didn't challenge the high value I put on my Partner (perhaps because it was simply the purchase price) but that isn't to say they would honour that if it came to a claim of course.

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ChrisB
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Postby ChrisB » Thu May 21, 2009 8:34 pm

This is the problem, theres no real way to actually verify the true worth of a Bingo, e-bays a very volatile market place with even a broken one hitting 2.5k or even higher, then the next month a nice runner can only make 2k :?

There should be no need for a "modified" insurance as the vehicle is not modified its factory built. You are correct though Grumps if you "adjust" the vehicle in anyway its now modified :roll:

I gave up with Footies as I felt they actually didnt want my business took weeks to get a quote out of them.

I'm not sure where to go with this one currently, as you say Gwing wether they payout on the asking price is another matter.
I look at it if I was stuffed say in the rear by an uninsured driver then 3k would barely cover the cost of a replacement battery pack for the rear and thus they would right it off :cry:
I wonder if I asked them to sign a declaration saying that for what ever reason they would supply me with a similar electrique berlingo of similar condition if mine ever got written off, I'll let you have one guess if they would :roll:

I wonder sometimes what the point of insurance is :?

My next stop is to approach an assessor and see what they have to say :?


ChrisB
I reject reality and substitute my own !!!!!!

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qdos
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Postby qdos » Fri May 22, 2009 7:45 am

ChrisB wrote:I wonder sometimes what the point of insurance is :?


It's nothing more or less than a compulsory legalised gamble. As with all gambles the odds are stacked in favour of the bookie. Tot up all the money you've paid out for "Insurance" over the years and how much you've claimed for or had claimed against you.

Got friends who write software for Lloyds reinsurance companies. It's a guaranteed money maker. There's enough people here really to form our own syndicate and provide our own insurance.

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Flying John
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Postby Flying John » Tue Jun 02, 2009 12:51 pm

I would say £5k for a late model, modified with seats and windows and in good order.

This gives you a value for something that will allow you some "inconvenience money" while you find another one to buy.

As has been said you are entitled to be put back into the same position you were prior to any accident.

I think the other possibility is that if the value of the van itself is low it means the salvage price of any write off would also be low. So for example - if you had a rear end shunt that did not affect the drive train or batteries then you could buy the salvage back for 20% of the write off value and the insurance payout would allow you to buy another "broken one" and put your good bits in it.


John - just recovering from sons insurance write off !

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floydster
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Postby floydster » Tue Jun 02, 2009 8:55 pm

Something similar happened to me a few years back. The company (I can't remember who) eventually agreed the value after I sent them some recent ads. for the same model in a similar condition.

I eventually went with Lancaster who provided me with a realistic agreed valuation for about a tenner above the standard cover. It wasn't an EV though :(

Floydster
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