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Thread: What value are you insuring 550's for?

  1. #1
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    Default What value are you insuring 550's for?

    Hello,

    Mine was insured for £50k last year, but Locktons tell me that people are covering them for circa £80-90k at the moment.

    People seem to be asking big money for 550s currently.

    Are people insuring at these higher values?

    Thanks

  2. #2
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    tonyh is offline Bus station dosser Club Member
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    yes , I've upped the agreed value on my CS to £200k with lockton

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    Quote Originally Posted by tonyh View Post
    yes , I've upped the agreed value on my CS to £200k with lockton
    Hi, Tony, Can I ask what the annual premium is for that?

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    Quote Originally Posted by tonyh View Post
    yes , I've upped the agreed value on my CS to £200k with lockton
    the question was value of 550 not CS ?

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    My LHD was insured for £47k, and I recently got paid out without any quibbles. Remembering mine was probably the roughest 550 on the market!!!!

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    Mine is a 2000 TDF/Tan car with 37k or so on the clock. Checking the classifieds it would seem that to replace it from a dealer I'd be looking at £75k (sound sensible?). As soon as I can I'll be getting it over to Autofficina for them to have a look and do me a confirmation so Lockton can do me the agreed value. Premium is going to go up by about £110 (previously it was insured for about £55k) so total annual premium will be about £1300. I do like Lockton but they are getting very pricey now

  7. #7
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    tonyh is offline Bus station dosser Club Member
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    Quote Originally Posted by JRS View Post
    the question was value of 550 not CS ?
    The quote was offered to illustrate how much values have gone up generally . I can read thanks , James .

    The change in premium for increase of agreed value to 200k was about £180 from memory . Autoficina provided valuation .

  8. #8
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    Thanks

    I paid about £600 last year after a bit of haggling. I'll get other quotes. I expect the Locktons premium to go up, especially if agreed value at say £80k.

    If these values are real, then 599s are looking very attractive to me, although I notice there appear to be fewer for sale at the moment.

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    Quote Originally Posted by Dino550 View Post
    Thanks

    I paid about £600 last year after a bit of haggling. I'll get other quotes. I expect the Locktons premium to go up, especially if agreed value at say £80k.

    If these values are real, then 599s are looking very attractive to me, although I notice there appear to be fewer for sale at the moment.
    Once you start getting that kind of convergence something going to give.

  10. #10
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    Chriss is offline Rear lights like a farm gate - The Ferrari 348 Club Member
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    Thanks for posting this thread : it's prompted me to do something about my 575 valuation. I've been watching prices go up each month and it's been bothering me.

    My LHD car is at 22,000 miles and is currently insured for £55,000.

    The average price asked for a 575M F1 on Autotrader yesterday was £75,000 ( six cars ) . On the basis that a LHD car is worth £10,000 less than a RHD one I'm going to ask AIB to increase the agreed value to £65,000. I'll let you know whether the insurer agrees to that and what they propose to charge.

    It won't cause a request for increased security because they wanted a GPS tracker fitted if the value was over £50,000.
    A proper car has a V12 engine in the front

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