LCGB Forums

I've got a gp200 scooter but the log book says quote scooters India ltd engine number not known I paid £1600 for the scooter and have spent at least £2000 on engine and parts.At the iow the weekend I was talking to a bloke who said I won't get it insured for say £4000 he said no insurance company will value a sil GP 200 at that value an if it breaks down no one will recover it that they will just say it's only worth scrap value wat are my options any help please .?would you mention any engine mods eg 225 carbs expansion pipes to an insurer

Don't believe what blokes in a pub tell you........

I've SIL gp200 insured with Footman James for an agreed value of £3500........no questions asked (other than general spec').

Engine numbers don't mean a great deal as new unstamped cases are ready available.

Log books (V5) are for the frame more than the engine.

Have you tried insuring it for an agreed value ?

I'd say he was talking out of his arse, SIL is the manufacturer, Lambretta GP200 is the model. Hopefully someone will be able to give a view as to value but whatever, you won't get recovery refused on the basis of make or value

Agree with all the above. I know a guy with a full custom Sil GP with agreed value of 10k.

I did hear tell of someone who broke down or crashed in Europe and they tried to write it off because the cost of recovery was higher than the supposed value.

The bloke in the pub is talking rubbish.
The value would be around £3500, take photos of the scoot to confirm the general condition and keep all receipts (but hide them from the wife!).
However, generally speaking you will not get back in extra value the cost of the upgrades.
I would be honest with the insurance company and tell them what engine mods you have had done.
Citydaz

my gp log book states scooters india limited - it was an SR frame register at our (now gone) DVLA office.

its got agreed value of £4k with ts1 engine etc declared

gaz

Eden wrote:

rossclark wrote:I did hear tell of someone who broke down or crashed in Europe and they tried to write it off because the cost of recovery was higher than the supposed value.

regarding the question asked though.... IMO agreed values are also worthless as the insurance company will only pay the market value on a Lambretta unless the agreed value states all the modifications including paint etc with the replacement cost of each item, and even then I recon the insurance company would try to get away with just giving you market value in any case.

Any cover that did actually cover a 6k bespoke engine, 4k paint and Christ knows how much for everything else would cost a fortune to buy each year.

Eden, have you any experience of insurance companies renaging on agreed value policies? I'd be interested in hearing about them as I too have agreed value for my TV200 and I'd be very annoyed in the ins co didn't pay out the agreed value. I'm not aware of the requirement to have all items / work itemised and priced…. maybe I need to check the small print!

Eden that is detailing the process to get an agreed value.

Once you have written confirmation of it, an agreed value is just that - an agreed value between you and the underwriter.

Digger wrote:Eden that is detailing the process to get an agreed value.

Once you have written confirmation of it, an agreed value is just that - an agreed value between you and the underwriter.

Yes, that's my understanding of agreed value too.

I'm actually in the process of doing that right now on an agreed value policy.

The only receipts I have been asked to provide are for the cost of the parts and repairs.

However the repairs will not make too much of a dent in an agreed value of £12k.

Eden the repairs estimate is only £450.

I have a multi bike policy - total agreed value of £24k - £230 was this years price.

I've used the LCGB valuation service when it became available and FJ is the broker.

I've had good and bad with them.

I had a breakdown abroad on a modern bike which they dealt with fine. Even paid for repairs caused by it being dropped while it was being fixed.

However I no longer insure my modern bike with them as they wanted a rediculous amount to transfer the policy to a new bike with just a couple of months cover left. They wanted more for those two months than a new policy via Swinton.

This is my first claim on the classic policy so if there is any hassle I won't renew with them.