Re: Retention of salvage UK classic car insurance
Posted: Mon Sep 08, 2014 9:57 am
Exactly as Chancer says - Don't part with anything, documents keys etc. It will be the last you see of it.
The complete information source for Lotus Elan sportscars.
https://lotuselan.net/forums/
Spyder fan wrote:Hi Fred,
You need to read the first page of messages for the answers to your questions. have a look here first http://www.rhclassicinsurance.co.uk/cla ... rance.html
RH will insure your car for an agreed value, if your car is written off you will get the agreed value AND the wreck of the car, its called a retention of salvage clause, don't accept anything else.
Spyder fan wrote:Classic insurance companies generally allow agreed value below ?15,000 without third party proof of value, just a few photo's and a mileage statement is all that's needed. Above ?15,000 they ask for a recognised valuation from an organisation that didn't supply the vehicle before agreeing the value, hence Club Lotus valuation required as far as we are concerned.
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