Agreed insurance values

[Singh911]

I haven't currently got an agreed valuation for my mk1 GT3 (996). Chatting to classicline insurance yesterday they said for £20, they'd complete an agreed valuation and have sent me a form to start the process. They say i must send them photos and a suggested value.

Does anyone know how this works. If i suggest a market value (say £60k? (more?) - lhd car, 23k miles, I'm the second owner had it for 9 years, comfort spec with half cage and bucket seats).

Once that value is agreed (no doubt at an increased premium, currently only £350 pa), is it the case that they will pay out £60k in the event of the car being written off or stolen - or does one then enter an whole new round of negotiation.

Also, is that value (once agreed) pegged to market inflation/deflation?

Cheers

Ajit.

[PorscheGT4]

best to have market value, agreed is out of date in one month at the rates these things are going up