Classic insurance uk 2024

[englishmaninwales]

Value - is this for market valuation or agreed valuation following submission of full description and photographs?
Malcolm

[Quart Meg Miles]

Value - is this for market valuation or agreed valuation following submission of full description and photographs?
Malcolm

It's my estimate of the price of a replacement, which is the company's description of the payout, but I know that in the event of a claim they will assess the value on what they can see. At my age I'm really not too bothered about it.

[atthelimit]

As a retired insurance broker I would say that an agreed value is essential in order to avoid haggling should the car ever be written off. However, with values having taken a dip over the last few years some people may still have policies with values based on Elan prices when they were sky high and in real terms now over insured. You might be paying more than you need to if the car was insured on today’s realistic replacement value. If you look at adds for Elan’s, values are down and so to replace it “like for like” now costs less than a few years back.

Lastly, looking through the posts no one seems to mention the actual insurance company they are insured with, only the broker. It is the company that pays up and it is more important that you are have a good company rather than a good broker, both would be nice though!

[Spyder fan]

This year I insured with Adrian Flux with agreed value of £45k for my S4 was £230 my + with agreed value of 28k was £145.

I used to insure with RH due to their standard retention of salvage, and their included breakdown recovery however I found their prices shooting up over the last couple of years to over £600 for both cars.

Adrian Flux offer retention of salvage, although I did have to specify I required this, as it was unclear whether it was a standard item for classics.

I have AA membership that covers me for any car I am driving, so that’s the recovery aspect covered.

[512BB]

'Lastly, looking through the posts no one seems to mention the actual insurance company they are insured with, only the broker. It is the company that pays up and it is more important that you are have a good company rather than a good broker, both would be nice though!'

They are all good when they are taking your money. Its when the time comes to paying out that you find out just how good they really are. Fortunately, only about 5% of policy holders, my guesstimate, will ever find out.

Leslie

[hamm61]

I have been reading this post and have looked at my own cars, I have them insured through grove and Dean and the policies are with Hiscox.
1 , Elan +2 1974 130/5 agreed value £ 30 000. June 2024 £ 130.90 ( £ 105 .00 in 2019 )
2 Elan M100 1992 agreed value £ 12 500 March 2024 £ 117.57
Both cars must be kept in a locked garage with milage restrictions of 2000.
I hope that the insurances are good however I dont want to find out , both have recovery and breakdown , my brother who was in insurance suggested this broker
Peter

[MACCA.GLM]

Be vary wary of breakdown cover included or at a discount

I am with FJ and there prices are very good 2 cars and 2 bikes.the breakdown cover was with RAC.Unfortunatly I had a terrible experience with RAC with one of my bikes it took 13 hrs for them to come for me and then told me they could not take me all way home and dropped me off 40 miles away saying another truck will collect.Well they did not turn up and I had to get myself home at considerable cost at 2 am in morning.

I would not touch RAC with a barge pole and I have now found out a lot of people who have had similar experiences with this company

So I told footman James to remove my BD cover and are now with someone els. I still have there insurance as its very competitive just be mindful of who is acting on your behalf on breakdowns

Cheers
G