There are several reasons why it’s wise or necessary to have your vehicle valued.
WHY A VALUATION?
Insurance based on a fixed valuation (in accordance with article 7:960 of the Dutch Civil Code). In case of this type of insurance, the qualified valuer will record his findings in an extensive valuation report.
The estimated value is used to determine the premium, and much more important, as a fixed value of the payout in case of damage or theft.
If you fail to submit a valid valuation report in case of damages, the outcome could be a painful surprise and a wrongful total loss declaration might be the result.
Determining the value of a classic or exclusive vehicle.
For tax purposes, for instance, transferring a private car to the company or determining the economic value of cars used for business purposes that are older than 15 years (favourable with regard to low additional tax liability).
