Agreed Value Policy

bigasotonuk

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Hi,
As I have spent a small fortune on my C43/55, on much repair work, complete respray, engine conversion etc.
To replace the car now with like for like would neigh on impossible.
Can anyone reccommend a company/broker who does competitive agreed value policies?
 

grahamcol

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Yes, I've just swapped my W202 C200 to agreed value through Chris Knott, Easy and painless and done very quickly. I don't have their number to hand but Google them and it'll come up.
 

turbopete

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theyre also forum sponsors
 

Sky Insurance

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Hi,
As I have spent a small fortune on my C43/55, on much repair work, complete respray, engine conversion etc.
To replace the car now with like for like would neigh on impossible.
Can anyone reccommend a company/broker who does competitive agreed value policies?

Whilst an agreed value policy may not see you back in the same position, eg you are not going to re-coup all the money spent, it is definitely the best option.

We offer an agreed valuation policy, feel free to get in touch and please make it clear this is something you are after.

http://www.skyinsurance.co.uk/call_back_new.phtml

Thanks and regards

Ollie
Sky Insurance

http://www.skyinsurance.co.uk/car-club-insurance.html
 

turbopete

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Whilst an agreed value policy may not see you back in the same position, eg you are not going to re-coup all the money spent,

http://www.skyinsurance.co.uk/call_back_new.phtml

Thanks and regards

Ollie
Sky Insurance

http://www.skyinsurance.co.uk/car-club-insurance.html

isnt that the whole point of insuring, especially with an agreed value policy? to ensure that the owner is NOT out of pocket should the worst happen and WILL put you back in the same position? or is this another case of rip-off insurance policies?
 

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I use Haggerty for my race car, its only an E36 M3 and the normal value is pence but have an agreed value of over £15k because of the stuff thats on it.
 

David Nock

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Heritage Insurance do Agreed on our 1st generation Mazda RX7
 

Chrishazle

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If it's a second car rather than your primary, try Classic Line - I've insured my 968 through them for a number of years on an agreed value policy - and the excess is a lot lower than most (if not all!) others I've tried.
 

KeithEvans

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I tried everywhere for an agreed value policy. Because it is my only car, I was tuned down by everyone, including the forum sponsors. It didn't help that it's parked on the road outside my house either. Seems that unless its garaged or a least parked on a drive and isn't your only vehicle, then you can't get an agreed value policy.

One actually told me that most agreed value cars are kept in a heated showroom!

Yeah right!
 

Sky Insurance

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isnt that the whole point of insuring, especially with an agreed value policy? to ensure that the owner is NOT out of pocket should the worst happen and WILL put you back in the same position? or is this another case of rip-off insurance policies?

If you look at it another way, insurers have to be incredibly careful they do not over-value a vehicle otherwise they leave themselves wide open to fraudulent claims. Car insurance isn't on a new for old basis like other types of insurance. I wouldn't say it a 'case of another rip-off', as an example, I have a 1988 Toyota MR2, I have spent £12,000+ over the years improving it, modifying it , keeping it in tip-top condition, do I value it at the £12,000 plus original purchase price? No. I'd be lucky to sell it for £4000, this is what my agreed valuation is fixed at. I'm comfortable with that figure.

Ollie
Sky Insurance

http://www.skyinsurance.co.uk/car-club-insurance.html
 

star

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If you look at it another way, insurers have to be incredibly careful they do not over-value a vehicle otherwise they leave themselves wide open to fraudulent claims. Car insurance isn't on a new for old basis like other types of insurance. I wouldn't say it a 'case of another rip-off', as an example, I have a 1988 Toyota MR2, I have spent £12,000+ over the years improving it, modifying it , keeping it in tip-top condition, do I value it at the £12,000 plus original purchase price? No. I'd be lucky to sell it for £4000, this is what my agreed valuation is fixed at. I'm comfortable with that figure.

Ollie
Sky Insurance

http://www.skyinsurance.co.uk/car-club-insurance.html

Are you saying you cannot get an agreed value policy or if you can how does it work? I have to send pics of my race car and details of it to the insurance co and with my other car I have a club/dealer valuation for it and its insured for that?
 
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Sky Insurance

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Are you saying you cannot get an agreed value policy or if you can how does it work? I have to send pics of my race car and details of it to the insurance co and with my other car I have a club/dealer valuation for it and its insured for that?

Insurers have different ways of dealing with agreed valuations.

Via a couple of our specialist underwriters, we offer agreed valuation policies for limited mileage cars. We ask for the proposed value to be how much the car would sell for, in today's selling market, to a like minded car enthusiast including all modifications. Our role in the applications process is to find the 'happy' medium between the underwriter and the customer.

Thanks

Ollie
Sky Insurance

http://www.skyinsurance.co.uk/car-club-insurance.html
 

kth286

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must admit I agree with all thet sky insurance is saying.

it's all to do with the market place for that type of car, not how much you have personally spent on the car.

it is fairly easy to get to an agreed value for say a 1995 124 coupe in good solid original condition as the market is readily identifiable, and numerous examples abound.
 

turbopete

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If you look at it another way, insurers have to be incredibly careful they do not over-value a vehicle otherwise they leave themselves wide open to fraudulent claims. Car insurance isn't on a new for old basis like other types of insurance. I wouldn't say it a 'case of another rip-off', as an example, I have a 1988 Toyota MR2, I have spent £12,000+ over the years improving it, modifying it , keeping it in tip-top condition, do I value it at the £12,000 plus original purchase price? No. I'd be lucky to sell it for £4000, this is what my agreed valuation is fixed at. I'm comfortable with that figure.

Ollie
Sky Insurance

http://www.skyinsurance.co.uk/car-club-insurance.html

perhaps if you read my posts on another insurance related thread, you would understand WHY i feel car insurance in general is such a rip-off.
 

television

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perhaps if you read my posts on another insurance related thread, you would understand WHY i feel car insurance in general is such a rip-off.

It is not a rip off Pete at all, its something we all must have, its not my fault if where you live cost you more to insure than where I live.

I cannot see how you can insure for £XXX if things were not going right, one could just destroy the car and claim way in excess of any true value. And what is a true value ???
 

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Exactly, what is the true value, most insurers will have valued your car for less than the normal retail value, thus the gap between a customers valuation and an insurers. When I have taken out an agreed valuation policy, I have to supply documentation to back up my agreed value.
 
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