Bus Value - Insurance purposes

Scotty · Posted: Wed May 28, 2008 11:03 am Post subject: Bus Value - Insurance purposes

My bus insurance is up for renewal soon and I really have no idea how to value it right now. I was wondering if you guys could let me know what you think my bus is worth, just a rough idea

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Thanks
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johnny d · Posted: Wed May 28, 2008 11:17 am Post subject:

scotty.. this is a good and (i guess) difficult to answer question!

but i think about 20 to 25K EUROS?! Confused

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happyhippo · Posted: Wed May 28, 2008 11:32 am Post subject:

I don't think you could replace that bus for less than $40K US. Does your insurance company understand that buses that aren't shiny and fully restored have, in some circles, a greater value to the collector than ones that are restored? Will your insurance company insure a "rusty old bus" for a large value?

You should probably also factor in asset appreciation. That bus will be worth more at the end of this year than it is worth today, etc... The trick is to figure out at what rate barndoor buses are appreciating in today's market.
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BDWannaB · Posted: Wed May 28, 2008 11:34 am Post subject:

$40K...
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Rusting Hulk · Posted: Wed May 28, 2008 11:55 am Post subject:

Scotty insurance value in the UK is what it would cost to replace it, if it was totaled or stolen without trace. You can't replace your bus, (its a 52 RHD) so i guess you would have to make one from a LHD. I'm thinking £40k. This would be the cost of buying a non rusty Barndoor STD if you can find one, converting it to RHD and doing all the mods that you have done.
What do you think?
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Tonny_Larsen · Posted: Wed May 28, 2008 12:37 pm Post subject:

Scotty, is it up to you to set a price, or is it the insurance company ?
Here in Denmark it is the insurance company, and I have great trouble convince the insurance company the value of an old panel. As they say to me, "it is just an old volkswagen"

As it is now my panel is not insured as high as I wish.

-Tonny

Barndoor Mafia · Posted: Wed May 28, 2008 2:15 pm Post subject:

Scotty, Mate.........20 Euros or $40K, that's taking the piss mate! REALLY. Listen to the pissed out of his tree Pikey! Look at it this way, can you replace this rare bird of your's if something where to happen to her? God save the Queen! NO. Without a doubt. It boils down to "you cannot replace this ride"!!! I'm with the Pikey, £40k is more like it. Yes, in the Queens currency (this is for all the bloody Yanks who don't understand. REALLY! )

If you're Insurance co will not insure it for what it's worth? Then you need to go to a specialty insurance co who sorts out these types of matters. This is how we do it up in Lyon, France. REALLY Wink

RockStock · Posted: Wed May 28, 2008 2:16 pm Post subject:

johnny d · Posted: Wed May 28, 2008 2:26 pm Post subject:

Barndoor Mafia · Posted: Wed May 28, 2008 2:40 pm Post subject:

johnny d · Posted: Wed May 28, 2008 2:50 pm Post subject:

barnjunkie · Posted: Wed May 28, 2008 3:20 pm Post subject:

as the bus is incomplete ie without a rear bumper I would say £37 500
Laughing

I would double the price its cost you then add 5% for the cool factor

Will the SSVC put a value on it Question

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dinsdale · Posted: Wed May 28, 2008 3:49 pm Post subject:

Scotty,

Also remember that the higher the agreed value, the more you're going to pay in insurance, so ask yourself, if you did have to claim, how much do you want for it.

And whatever price you put on it means nothing unless it's agreed with the Insurance company.

Pete

Rusting Hulk · Posted: Wed May 28, 2008 3:56 pm Post subject:

BDWannaB · Posted: Wed May 28, 2008 4:05 pm Post subject:

With Hagerty's, I believe you can do "stated value" as long as it's in a locked garage. The more you state, the more you pay. Not sure if they write insurance over there, however.
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'56 Sunroof Kombi
'67 Deluxe

Barndoor Mafia · Posted: Wed May 28, 2008 5:01 pm Post subject:

gatorwyatt · Posted: Wed May 28, 2008 6:54 pm Post subject:

KombiMonster · Posted: Wed May 28, 2008 7:12 pm Post subject:

lo-lo55 · Posted: Wed May 28, 2008 10:04 pm Post subject:

Oldest on the road RHD, primer delivery wearing its first coat of paint Shocked

could never replace it... got to be at least 40 quid if they let you.

Scotty · Posted: Thu May 29, 2008 1:05 am Post subject:


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