Classic car agreed values

[vpr]

I’ve just managed to secure a deal on my cars and made a substantial saving on last year’s premium.

My previous ins co were top notch and renowned for no grief cover etc.

So though my new company are still a recognised company it’s obvious their procedures are no at clear cut.

I’ve never had to justify “agreed values” before and now I have to write war and peace to justify my values but I’m not sure even now it’s that clear cut IF I ever have to claim. (Touch wood, I don’t).

So has anyone had grief come claim time on a stolen classic or written off?

[a8hex]

I used to have to get a period statement from a dealer that the car was worth what I wanted to insure it for.
Fortunately I never had to claim for anything like the cars value so can't comment on how they'd have acted then.

[anonymous-user]

Margins in car insurance are surprisingly slim and you do get what you pay for if you have misfortune to need to claim. An easy, no quibble attitude if the st hits the fan is worth a lot and I am prepared to pay for it in higher premiums.

[vpr]

I’ve been paying for it for years all the way up to 20k p/a.
I have nippers on my policy too with unusual cars.

Offloaded one Nipper now leaving just the one so premium better but I’ve managed to halve it this year. That’s quite a few quids worth. Hard to resist

[tapkaJohnD]

The classic club for my car opertaes an agred value system - they certify the car based on a large set of photos, and the Insurnace broken they associate with will cover it for that. My old one was written off in a crash, I got the full amount. (I bought the wreck back from them and sold it off in parts for twice as much as I paid! And kept the important and reusuable bits!)

John

[DBSV8]

vpr said:

I’ve been paying for it for years all the way up to 20k p/a.
I have nippers on my policy too with unusual cars.

Offloaded one Nipper now leaving just the one so premium better but I’ve managed to halve it this year. That’s quite a few quids worth. Hard to resist

are you paying 20k a year for a single classic ? or for a multicar policy ?


i recall on my E type with footman James it was around £1200 , with agreed value ...................ive just insured the Capri 3000s on our multicar policy with agreed value of 10k for £97 ............mind you i might need to reconsider , in the future after all the hassle my wife has had making a claim on her everyday car

edit die to COVID i couldn't get an independent to value the car so i sent photos of the car and looked on classic values ...probably a bit undervalued know

Edited by DBSV8 on Wednesday 2nd December 22:41

[aeropilot]

Discombobulate said:

Margins in car insurance are surprisingly slim and you do get what you pay for if you have misfortune to need to claim. An easy, no quibble attitude if the st hits the fan is worth a lot and I am prepared to pay for it in higher premiums.

Very much so.

Why I've always used recognised company's with no hassle systems and claim issues.

There is also a significant difference between some of the recognised insurers agreed value definitions, and what other company call agreed value, but are really 'noted' value, and you have a battle over claims like any other insurance.

You get what you pay for as ever in life, no such thing as a free lunch.