Agreed value insurance - whos good at present?

[Zippee]

My renewal is up the end of this month and now I have a near mint 4.3 (recent rebuild, full respray, wheels and wilton carpets) I want to get an agreed value policy in case the worst ever happens. Just wandering who you guys have used and how good they are?

[alex_gray255]

Mannings.

Agreed value with mods/respray etc.

[sidpinup]

Hi Zippee, I used MSM very good value even with the mods 4.3 and Nitrons. £380 limited to 7k miles.

[Zippee]

sidpinup said:

Hi Zippee, I used MSM very good value even with the mods 4.3 and Nitrons. £380 limited to 7k miles.

I'm currently with MSM who want £520 for my 4.3 with no agreed value. I realise it's hard to compare individuals but what sort of postcode and age are you?
I'm 37 with full NCB, 6k a year in a safe PE19 postcode with the car garaged and for SDP only.

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Have you tried RH classic or classic line?

Both have been very competitive in the past few years.

[FlipFlopGriff]

Manning here too. You'll need a letter from a dealer/indie but check if they are approved before you proceeed. They also want 3 or 4 pictures, front, rear, side. Just had to renew mine again so I think it expires after 2 years but ask them as they didn't tell me until renewal time as it didn't state anything in the contract documentation.
FFG

[alex_gray255]

FlipFlopGriff said:

Manning here too. You'll need a letter from a dealer/indie but check if they are approved before you proceeed. They also want 3 or 4 pictures, front, rear, side. Just had to renew mine again so I think it expires after 2 years but ask them as they didn't tell me until renewal time as it didn't state anything in the contract documentation.
FFG

Letter needs to be headed with the dealers details etc., and simply state what the believe the car is worth.

Also need to include picture of the inside as well, but simple process to do and you can then just scan it all
and send it to Michael. Whole process took about a couple of days to do.

[Moycie]

Manning here too. Very helpful chaps. Agreed value, with a few pictures and valuation sent to them from a TVR indie.

[sidpinup]

Zippee said:

sidpinup said:

Hi Zippee, I used MSM very good value even with the mods 4.3 and Nitrons. £380 limited to 7k miles.

I'm currently with MSM who want £520 for my 4.3 with no agreed value. I realise it's hard to compare individuals but what sort of postcode and age are you?
I'm 37 with full NCB, 6k a year in a safe PE19 postcode with the car garaged and for SDP only.

I have 9 years no claims but did have a prang 2 years ago (not a big accident and protected no claims) 45 years old living just outside Bath with the car on the drive. No agreed value but £20k estimated value on the cover note.

[S6 Devil]

REIS, formerly Richard Egger for me. Cat D car, £300 for 3000 miles and £18k agreed value.

[sgrimshaw]

+1 for Mannings.

Gyles is very good.

[pearly]

Classicline, agreed value for £20 for a car under £20,000, you send some photo's, 3000 miles, £276 for 4.3 Chimaera. Compared with Flux who wanted £595 and a valuation from specialist for agreed value.

[glow worm]

Mannings quoted me £366 for my 4 litre 'S' and £388 for a 4.5 Supersport, since my renewal is due I've insured it as a 4.5 now (saving any admin fees for the change). I already have an agreed value of £38k which I will increase once I get a new valuation after the work is complete in January.
(3k mileage limit,over 60,full NCD,but 9 points )

Edited by glow worm on Friday 9th November 08:24

[Zippee]

Thanks guys, I'll give them a try. Out of interest which companies have given you the agreed values? I'm wanting a value of 32k put on my T350 - mainly due to the fact that to buy a decent 3.6 now is going to cost min 23-25k and then I'd need to factor in a further 10k to get it back to 4.3 spec.

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Classic line, RH and Mannings I know do agreed value. As far as I am aware they all require photos and TVR specilist letter confirming value. Although I know Classic line do have their own valuers if you wish to use them.

[S6 Devil]

REIS asked for 6 photos and asked me what agreed value I wanted. They then showed the photos to their in house assessor who agreed the price. Simples!

[MrChips]

I was going to start another topic but it's pretty clear that a fair few of us have agreed value policies at the moment so this seems like a good place to ask:

In the case of a fast changing market, with some models increasing in price by a few £k every 6 months, could having an agreed value actually be a downside?

I mean, if you didn't have one, and wrote the car off then aren't most payouts based on "market value" at the time of the write off? I know this is the case if market value is below the value shown on the policy... so does it work in reverse, if the market value has gone up?
If you write your car off, without an agreed value policy, then surely market value is based on the price of similar cars at the time..i.e. to get you back on the road in something similar?

And if you had an agreed value policy, and prices had gone up in the meantime, are you at a disadvantage?

We're with Mannings, and have declared the 4.3 amongst a few other tweaks, but this year haven't gone for an agreed value cover so just thinking whether I really am at risk if the worst happens.

[Zippee]

MrChips said:

We're with Mannings, and have declared the 4.3 amongst a few other tweaks, but this year haven't gone for an agreed value cover so just thinking whether I really am at risk if the worst happens.

I asked Gyles form Mannings this very question earlier this afternoon and he stated value can be adjusted at any point during the term of the policy as long as it's supported by a relevant valuation and agreed by their underwriters.

[sgrimshaw]

I would have thought most agreed values are considerably more than the market value, that's the whole point isn't it?