Try Carole Nash too. For me: Agreed value (free and no pics needed) 3000 miles Breakdown Cover About £130. Has stayed around the same for a couple of years too.
Had a call from JK, who say they send your photos to a specialist. Most importantly, once agreed, the value is set in stone and not part of a "weasel clause" should a claim be made. This sounds promising
Thats the same as most companies. I'd love to know how a specialist can value a bus from photos though.... Shiny paint = £12k??
Are you guys all insuring your vans as "second" or "classic" vehicles? I tried a few of the companies mentioned however as the van is kept on the road and used as a daily they wouldn't insure it on a classic policy. Boooo I'm with JK and think I pay £400 ish
I am with Sureterm It is just under £200 pa with an agreed value of £14,000 and 3000 miles max. I got my valuation from a local VW garage in Manchester who charged £25 for it.
mines up for renewal Peter James again £150 , no mileage limit and agreed value (if I remember to send the pictures off this time!)
Just had a quote from JK for about £220 all inclusive (myself and named driver as per the original post - £7k 5000 miles). I'm finding it increasingly frustrating to read the small print about "agreed value" and what it means. Seems that the small print suggests the agreed value is set in stone, but they advise you to keep a record of all the work you've had done to the vehicle, "just in case there's a dispute at a later date as to the vehicle's value" Am I being cynical in thinking that "just in case there's a dispute at a later date as to the vehicle's value" means there'll be a dispute in every single claim, resulting in the settlement being considerably lower. Does anyone have any real world experiences, good or bad, of claims for a total loss on an "agreed value" policy???
Dont worry too much about this - the insurance surveyor will check the vehicle over (compare the condition from your photos) should the worst happen to your van that is, and decide if the vehicle was actually in good condition before the accident or did the pictures just look pretty but in fact it was all filler covering rust! You dont need to be an expert to know when a van is actually junk. Its standard practice.
So might this result in an increase in the settlement value ?? I suspect not! What will happen in the loss adjuster will knock down the value. In the event of a un-recovered stolen camper how will the settlement figure be derived? Will a huge file of receipts for work done make any difference? Is the expression "Agreed Value" nothing of the sort. Does anyone have any real world experiences, good or bad, of claims for total loss on an "agreed value" policy?
No the value will be the value that you and your insurer agreed. Obviously if your van comes to a bitter end , then the assessor checks it over and finds that it was really a rotten shed I am sure this would be taken into consideration and the payout I guess would be reduced? Classic Policies are different to modern cars? They have to factor in different things. A modern car its all about cost of replacement panels and cost of labour and ease of access to parts, similar for Classic but the other factor is they know your vehicle will have a certain street value because it is a classic? The cost of parts naturally will also factor but old cars are simpler to repair the real issue is finding suitable replacement parts? In some case second hand parts are the only option? My mate runs a 1958 Wolseley 1500, with a classic policy. Last year some d*** ran into it and trashed the front of it. Somehow they managed to track a new old stock replacement front and repaired it, rather than writing off?! Its good as new now but imagine that happening to a 2002 Vauhall Corsa - write off no matter what! They make more on the parts?
Are you saying that occasionally the agreed value will be dishonoured, even though the insurer have accepted the "agreed value" and the premium paid on the basis of it? "He who pays the piper calls the tune" will surely apply when a loss adjuster does his job. If there's a dispute as to the value based on photos, it should be prior to the policy being issued rather than at a later date.
I know mate but having working for a famous Insurance company many years ago, if they can get out of paying they have the means! (read the small print) If you buy a new Mercedes for £30K today drive it for 2 weeks , some idiot bashes it and writes it off, do you think you will get £30K for it? Erm no If there was a serious concern about the value of your vehicle they would tell you as soon as you sent the photos. The assessors know their onions. The sorts of money you are talking about here is peanuts to them anyway. Dont worry too much about agreed value its the best you get today as far as insurance is concerned. The Classic industry has matured now and insurers understand classics and who drive them. They know you will cherish your van as much as your brand new £30K Merc! Mike dont worry about it - the Agreed Value will be honored. It has to be seriously poor not to.
There are various schools of thought on here: Some think the agreed value is nothing of the sort, some believe it is a binding agreement (me included). I queried my insurer and they confirmed this is correct.
Cheers Stan That's great to hear, however the small print suggests otherwise. Brokers might be happy to take the premium based on the agreed value, but the insurer might wish to reduce this for a payout because they're working not for us but for their shareholders.
I think it was poptop2 who had a total loss claim on an agreed value policy. If I remember correctly there was no problem with the payout. I'm sure if you have a value of £15k based on photos, on what turns out to be a polished turd, the outcome would be different.
It's no good pulling a fast one , if your vehicle is worth the agreed value then you will most likely get the agreed value , remember there is a also the replacement cost and they will be looking " in essence "at paying you to replace your vehicle with similar vehicle , note i say vehicle not van as my claim was on a mitzubishi not a van .
Finally went for Peter James at £147 as against JK at £220. I would have been happier to pay more if any of them could assure me that "agreed value" meant just that. But they all have a "weasel clause". Maybe they should say "owner's estimate of value" rather than "agreed value" Next job is a good clean up for the photos
Mike noting your comment about poss increase, that happened to me about 10 years ago with a classic german car (not VW) it was insured for 10k and was written off by third party and I was paid 13500 which was a hell of a pleasant surprise. The car had been insured for six years and I never thought to alter the value. It was insured with one of the classic companies mentioned above.
Thanks for the info, I actually had the value down as £5k on this policy but the vehicle could be worth more. Owned it for 17 years so no real idea of it's present value but the condition is definitely very good rather than concourse. I sometimes check the eBay prices for campers which have actually sold (rather than fanciful asking prices) and am surprised at the high value they attain. On the "work done since purchase" section on the agreed value part of the paperwork I've put - "Value has increased since purchase because the demand for these vehicles has risen substantially over the years. "Sold" prices of similar vehicles on eBay and elsewhere support the valuation. Condition has been maintained by myself by a huge investment of time and effort"
