Insuring an appreciating asset

[ravydavy]

Bit put off driving the vee lately because if I total it I won't be able to replace due to appreciation. I think greenlight said they would pay out purchase price maximum..

What's the crack here then? Do I need an agreed value? even though values seem to be going up?

 

[martinr82]

FWIW

I called my insurer (e-sure) and they said it will be market value, not sure if thats the correct way I should be insuring it. I am assuming that market value is what you would have to pay to replace it, but you know what they say about assumption....

 

[Lankan]

Agreed value all the way, and review and revise as necessary (annually) - have used that strategy for a number of years now.

I use Hagerty - very good, and easy to deal with.

 

[chilliv6]

FWIW

I called my insurer (e-sure) and they said it will be market value, not sure if thats the correct way I should be insuring it. I am assuming that market value is what you would have to pay to replace it, but you know what they say about assumption....

I asked the same thing to my insruance company today, they said they would only pay out market value, when i asked what that was they said they do it from Glassworks and parkers vaulation guide.

Out of curiosity has any paid for a Parkers valuation (or glassworks?) and if so what did you get? (please provide your car details if you can so i can compare) [smilie=thanks.gif]

I rang adrian flux regarding a fixed valuation but they said they would not give me it...?

 

[Kett]

FWIW

I called my insurer (e-sure) and they said it will be market value, not sure if thats the correct way I should be insuring it. I am assuming that market value is what you would have to pay to replace it, but you know what they say about assumption....

I asked the same thing to my insruance company today, they said they would only pay out market value, when i asked what that was they said they do it from Glassworks and parkers vaulation guide.

Out of curiosity has any paid for a Parkers valuation (or glassworks?) and if so what did you get? (please provide your car details if you can so i can compare) [smilie=thanks.gif]

I rang adrian flux regarding a fixed valuation but they said they would not give me it...?

Hello Chilli
Are you new to the forum?
If so, welcome!
Regards
Kett


Sent from my iPhone using Tapatalk

 

[chilliv6]

Hello Chilli
Are you new to the forum?
If so, welcome!
Regards
Kett


Sent from my iPhone using Tapatalk

Hi Kett,

I am indeed and thank you! I will be picking up my Vee next week! [smilie=yay.gif]

PH2 Mars Red #111

 

[Duncan]

Parkers/Glasses guide was about 8k for a phase two last time I saw it. I wouldnt entertain insuring with a company that didnt offer an agreed value.

Dont forget the club offers free valuations to paid members to assist with agreed values.

 

[matt.v10]

6k That is insane!!!!!!!!!!!!!!!!! :evil: :evil: :evil:

Need to boot my rubbish admiral at 900 quid for 10 months, cant belive I was too lazy not to change a renewal.

Might get rid this summer.

 

[chilliv6]

Thanks Duncan! I will be signing up for membership within the next day or so

I better try and get and agreed value then! Can anyone recommend any companies?

 

[RUSSO]

Chilliv6 wrote,
Can anyone recommend any companies?

Hagerty Insurance LINK quite popular on here :approve:
Been good for me and will do agreed value.

 

[DAN@ADRIAN FLUX]

FWIW

I called my insurer (e-sure) and they said it will be market value, not sure if thats the correct way I should be insuring it. I am assuming that market value is what you would have to pay to replace it, but you know what they say about assumption....

I asked the same thing to my insruance company today, they said they would only pay out market value, when i asked what that was they said they do it from Glassworks and parkers vaulation guide.

Out of curiosity has any paid for a Parkers valuation (or glassworks?) and if so what did you get? (please provide your car details if you can so i can compare) [smilie=thanks.gif]

I rang adrian flux regarding a fixed valuation but they said they would not give me it...?

Hi,
Did we give you any reason why we couldn't offer the option of an agreed value?
Regards,
Dan.

 

[chilliv6]

Hi Dan

I was told you only offer fixed values on classic car policies, and the v6 doesn't not come under a classic car due to the age.

Thanks Russo I'll give them a call now to see what they can offer me

 

[chilliv6]

Damn not having much luck! You need to be 30 or over for a policy with hagerty...

 

[AndyD]

Try Classicline Insurance, Hinckley. I have all my classic cars with them. They are a very good broker to deal with. They have offered agreed valuations on all my cars, including the Vee. I passed details into my mate who's just bought a Vee and again, very helpful and competitive.

I used to work in the insurance industry and to be honest, it's when you know the industry you can easily decide upon which brokers/to deal with and those not to.

Hope this helps.

 

[DAN@ADRIAN FLUX]

Hi Dan

I was told you only offer fixed values on classic car policies, and the v6 doesn't not come under a classic car due to the age.

Thanks Russo I'll give them a call now to see what they can offer me

Hi,
I still think we should have some schemes that could offer this. Id there any chance you can PM me your details so I can take a look at it?
Regards,
Dan.

 

[ColinG]

This is something I'm currently looking into as well, Haven't got a clue where to start but I'll definately give this Haggerty a call and see what they say.

What you think I should ask as value on a 255 Mars, 26k with full service history... £25k?