Do you have agreed value insurance?

[Paul]

Hi all,

As above - do many of you take it out on your retros?

I wouldn't as a rule because most of mine have been £500 jalopies...but I'm looking at something and (in this massively inflated second hand market) I'd guess there's a big difference between what I may have to pay and what a non-specialist may say it's worth.

So for the sake of £40 additional is it worth adding?

[joem83]

Mine is agreed, no extra cost through brentacre (£165 fc - py - all mods declared, Irish import, only the shell is stock lol)
Self appraised as it's still below market value but 3x what I paid 5 years ago lol

[comfortablynumb]

I’ve got it on an Escort cabrio, £92 a year with limited 5000 miles
Think its with Adrian Flux, who I know some don’t like, but they’ve been ok with me thus far, and they have the business because they’re the only ones who’ll insure my six wheel RRC
Touch wood I've not had to make a claim tho!

[Paul]

Jun 16, 2021 13:56:11 GMT comfortablynumb said:

I’ve got it on an Escort cabrio, £92 a year with limited 5000 miles
Think its with Adrian Flux, who I know some don’t like, but they’ve been ok with me thus far, and they have the business because they’re the only ones who’ll insure my six wheel RRC
Touch wood I've not had to make a claim tho!

This is who I'm talking to, and I'm aware of their reputation - however mine is imported and modified so the premium is a fair bit higher!

[comfortablynumb]

Jun 16, 2021 14:27:03 GMT Paul said:

Jun 16, 2021 13:56:11 GMT comfortablynumb said:

I’ve got it on an Escort cabrio, £92 a year with limited 5000 miles
Think its with Adrian Flux, who I know some don’t like, but they’ve been ok with me thus far, and they have the business because they’re the only ones who’ll insure my six wheel RRC
Touch wood I've not had to make a claim tho!

This is who I'm talking to, and I'm aware of their reputation - however mine is imported and modified so the premium is a fair bit higher!

I have to say, my son was insured 3rd party on his Range Rover, he wrote it off into a tractor on the Norfolk lanes, didn't do the tractor a power of good either
Although he was at fault, it was deemed to be mainly due to road conditions, he wasn’t prosecuted, and Flux took care of the 3rd party claim with no problem
Don’t know obviously if he’d been fully comp if it'd been different

[kevins]

All of mine are agreed value, one which has just come up is the Elan +2 £93 fully comp, agreed value £12000, 3000 miles, with diamond classic in Tring. chopped off roof and 5 speed gearbox declared.

[xbl]

I've got it on my mkI TT, purely based on the condition, mileage and history - it's through Brentacre (as are all my vehicles) and didn't cost any extra. They asked for pics and evidence of any history etc.

[johnthesparky]

I do on the Fugitive, because it’s tricky to get a market price as there aren’t many about. It was registered in 1995, so it’s insured as a modern classic.

I also do on the Astravan, because on a commercial policy market price will be very low for an old van. Couldn’t get a classic policy that worked with it being a daily driven commercial, but did get it on a modified van policy (it needed at least 3 mods, which it has) and that meant I got agreed value also.

[joem83]

Jun 16, 2021 20:53:05 GMT xbl said:

I've got it on my mkI TT, purely based on the condition, mileage and history - it's through Brentacre (as are all my vehicles) and didn't cost any extra. They asked for pics and evidence of any history etc.

I must say, having spent 21 years dealing with insurance companies - they are the first company that have been a pleasure to deal with.

[georgeb]

Not a lot of use to you but here, insurance companies have two attitudes to older (over 10 years) vehicles.

If they are happy with your assessment of condition, etc., via photos and/or inspection, then they'll only do agreed value.

If they are not so convinced, they have no interest in insuring it and you are then limited to buying third party insurance at annual registration time.

So yeah, I'm on agreed value.

Still have to buy the 3rd party when I register it though!

[glenanderson]

Agreed value on all of mine, except the modern Honda motorcycle.

It’s worth keeping an eye on values each year at renewal, as stuff is steadily climbing. I certainly couldn’t justify spending what it would cost to replace my Land-Rover from a standing start, and I don’t think I’ve got the energy anyway. If something happens to it then I’d want the payout to at least be enough to consider starting again though.

[comfortablynumb]

Jun 21, 2021 13:30:36 GMT glenanderson said:

Agreed value on all of mine, except the modern Honda motorcycle.

It’s worth keeping an eye on values each year at renewal, as stuff is steadily climbing. I certainly couldn’t justify spending what it would cost to replace my Land-Rover from a standing start, and I don’t think I’ve got the energy anyway. If something happens to it then I’d want the payout to at least be enough to consider starting again though.

This. Values are increasing steadily for most cars, until recently my mum had a ‘65. ‘Woody’ Mini Countryman. It was last insured for £15k, although she sold it for a bit less.
It was worth every penny, but as ‘mums mini’ insurance was a bit irrelevant, if the worst had happened, it wasn't a case of just a replacement, it wouldn’t have been ‘her’ car
I just looked at it as being able to put it in somewhere and get it re-restored, if that makes any sense?

[joem83]

Jun 21, 2021 13:43:16 GMT comfortablynumb said:

This. Values are increasing steadily for most cars, until recently my mum had a ‘65. ‘Woody’ Mini Countryman. It was last insured for £15k, although she sold it for a bit less.

Indeed they are, possibly selling my modern Mustang this month, to Ford, for £3k more than I paid 16 months ago!

[voodoo57]

My Mk2 4 door (Vaud escort) agreed market value of 20K £155 fully comp for the year, it was hassle though, never known so much rubbish to go thru and such incompetent fools to deal with, but now insured with Coops, they really messed my truck insurance up but after all the rubbish, i have a certificate and i am finally happy, the only other company i would try is classic line, but they will have to wait a while.
i was told that insurance companies are trying to put a stop to people driving other vehicles on a fully comp policy, but so far.... it has not happened.

[snooks86]

My golfs agreed and through classicline who we get a discount with being a club retro rides member , previous insurer was a joke and would only agree it at £2000 and I had to pay for an independent valuation , classicline did it at £10,000 with a few photos ,, and came in about £300 cheaper ,

[glenanderson]

Jul 20, 2021 23:02:26 GMT azikormaz said:

What is the best insurance option?

Define “best”. 

Cheapest? Most comprehensive? Young drivers? Old drivers? Cheap banger? High value classic? Daily commute? High miles? Low miles? Garaged? On a drive? In the road? Only car? In a fleet?

Unless you give us a steer, it’s like my wife saying “fancy a takeaway?”

[dragon]

Previously I have had a multi car classic (2 vehicles) policy with agreed value (on street parking) limited mileage and salvage retention for a couple of hundred quid a year.