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  #41  
Old 08-08-2016, 07:04 PM
chagac chagac is offline
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Join Date: May 2014
Location: Leeds
Posts: 218
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Quote:
Originally Posted by BlueZ View Post
When I was renewing a few months ago I lifted the agreed value by £7.5k just because of what I thought was the rising market ( which may continue over the course of the renewed term). Complete guess on my part, but the interesting thing was how little it increased the premium. From memory it was about £15 extra. If I'd known that when I was thinking about values I'd have stressed a lot less.
My thesis now is to make sure I have plenty of "cover" should the worst happen - cos the premium seems to be quite inelastic on agreed value
I'm with Classic Line and from what I gather from my most recent chat with them the insurance premium may only go up a noticeable amount when you go over say £50k as this takes it into another bracket I guess in terms of their risk/liability analysis.

I increased the agreed valuation on my S54 by £12k from the value used on the previous two years cover and it was agreed no problem at all with almost no increase in cover.
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  #42  
Old 03-10-2019, 03:49 PM
issproking issproking is offline
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Join Date: Dec 2008
Posts: 343
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Hi all

Question regarding agreed valuation insurance.

For the past few years I've had my coupe on an agreed valuation. I was going through my renewal documents and noticed I didnt have a letter confirming the agreed valuation for this years renewal. At the same time I checked last years agreed valuation letter and noticed on the smaller print that the agreed valuation is only valid if the car has a current and valid MOT.

This has never been an issue before but this year I decided not to put the car on the road and sorn'd it therefore the MOT expired earlier in the year.

I called the insurance company and they confirmed that the agreed valuation is not valid if the car does not have a valid MOT. The reason being they use the MOT (and supplied pictures) to ensure it is good working order which in fairness I can understand.

So, my question is does anyone have an insurance policy with a company with their car off the road and no MOT and therefore with the agreed valuation still valid?

Hope that makes sense?

I dont want to bring the car out of storage just to get an MOT but may have to if this is indeed the situation.

The isurer has said that it would pay market value if I did make a claim but would prefer that the agreed valuation was in place and valid.
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