Classic Insurance Agreed Value

[TvrJohn]

With Classicline, was about to submit photos etc to attain an agreed value, and yet the form has a disclaimer stating that the agreed value may not be achieved in the event of a claim !

So whats the point then ?

Has anyone been paid out there agreed valuation ?

[TVRJAS]

I'm renewing mine with classic line at the moment,was on the phone yesterday. The way I've understood it is you pay an additional £20, submit photos and fill the form out and if they agree with what you've submitted then it is Agreed.
I had to get a specialist valuation 2 years ago and have been told this is not necessary this time.

I was having problems with attaching the online PDF files so the form is now being sent via post and will then attach photo's separately online.

This is what it says on my letter.
" Thank you for choosing to use Classicline ?s agreed valuation service, we acknowledge your payment of £0. Please complete and return the attached vehicle valuation form and please follow the instructions set out on the vehicle valuation form. Please note, until we have received a completed valuation form along with the required photographs and you have been sent your Agreed Value certificate, the vehicle will be covered on a market value basis only."

But you might mean this bit..

"ClassicLine Insurance accepts no responsibility for any disagreements between the underwriters and the insured in relation to disputed values. Our valuation service is offered in good faith and does not constitute a legally enforceable valuation or a promise to purchase such a vehicle at the stated price."

Edited by TVRJAS on Wednesday 28th June 16:34

[andy43]

I was with Classicline when I wrapped my last Griff round a lamppost about 13 years ago - they paid out agreed value in full, less the excess, no questions asked.
I've had a policy with them for most of the time since on various cars including the current Griff.
They may have possibly just added that clause as the classic car market is starting to wobble a bit - I haven't spotted that clause before?

[billynobrakes]

Classic line are only a broker, the insurance company they use are Eagle Red Star and so far I can only say they have been very good and it will be them who agree the value and as a general rule of thumb you need to get it valued by a garage or club with photos and a list of what has been done to the car to make it better such as modifications etc so to get it back to how it is after all the money you have spent on it , if it gets stolen or written off, hope that makes sense

[N7GTX]

billynobrakes said:

Classic line are only a broker, the insurance company they use are Eagle EQUITY Red Star and so far I can only say they have been very good and it will be them who agree the value and as a general rule of thumb you need to get it valued by a garage or club with photos and a list of what has been done to the car to make it better such as modifications etc so to get it back to how it is after all the money you have spent on it , if it gets stolen or written off, hope that makes sense

As said, Classicline are only brokers, not underwriters. Equity Red Star are who you will be dealing with should the worst happen. Earlier this year I gave up with them and withdrew my claim after waiting 9 weeks and the nonsense they came up with as excuses. I am not the only one....

https://uk.trustpilot.com/review/equityredstar.co....

http://www.reviewcentre.com/reviews112963.html

http://insurancecompanyreview.co.uk/insurancerevie...

http://www.a1webstats.com/2014/10/18/equity-red-st...

[Byker28i]

I moved away from the classic insurance companies after I tried to get an agreed value following my body off chassis and mechanics restoration. I needed two assessments, one from the club, but it was around the time of that article in Sprint valuing devaluing Cerberas whilst other models such as the Griffith were highly valued. Nice arguments in my house when my wife read that article "Why did I spend so much money on a car that was worth so little. etc

I may seek an agreed value this year now the respray has been completed also..

[billynobrakes]

I must be lucky then as I cannot fault ERS with my claim, that reminds me I need to get my new purchase valued

[TV8]

TvrJohn said:

With Classicline, was about to submit photos etc to attain an agreed value, and yet the form has a disclaimer stating that the agreed value may not be achieved in the event of a claim !

So whats the point then ?

Has anyone been paid out there agreed valuation ?

This maybe a timing thing. The price for the cover is agreed when taken out but the agreed value, at least for me (and with a different broker), took several weeks to formalise. If something had happened during that time, I would expect such clauses would have more relevance.

[Incognegro]

Cant fault the service I got today from classic line.

£45k agreed on my Cerbera and including the notification of increased capacity of the S6 to Powers 4.5SS no charge for the upgrade.