Anybody capable of giving me a written proffesional valuation of my completed fit out, for insurance purpose. Live in Nottingham, boat is moored at Chapel Farm, Shardlow.
Insurers will not insure it for anything more than the total build cost @£40,000, with proof of spending ie receipts spreadsheets etc.
I have asked for an insurance value of £60,000 which adequately reflects its true value now completed, with the estimated £14000 in labour hours, based on a rate of £10.00 per hour, added to the build costs.
I have explained to the insurance company that I have received verbal valuations, placing the boat at current market rates in the £60,000 to £70,000 bracket, but they are insisting on a written valuation.
The insurance company is in full agrreement with me that I should not under value it for insurance, but they will not move on anything less than a written valuation.
They suggested using the local boat brokers, but none will give written valuations for exactly this reason. People wasting their time getting insurance valuations with no hope of brokerage business.
Catch 22