D2 Classic Insurance
 

Hi Guys & Girls
There has been a lot of talk about whether our cars qualify for Classic/Cherished Car Insurance, including agreed values :Confused:

I can now announce that at least one Company will offer this Insurance cover, including an agreed value, as I have just secured this cover for my car. :cool:

Their cover includes
UK & European Breakdown, accident recovery & Home start.
You also retain Salvage retention rights
Choose your own repairer.
Agreed Values
As it is a Classic Car Insurance they do not take into account any previous No Claims discount, so don't offer any either. Classic Policy

There are some limitations to the cover, which include the following.

You must have another car for general/daily use
Annual mileage limited to 5000 miles or less
The cover will not allow you to drive other cars.

Agreed value requests must be realistic.

You will need to send them current photos of the vehicle (front, back, sides, engine bay & interior shots

They also require current MOT

They also requested evidence of major Parts costs, you may have had to buy during your ownership. You cannot include any labour cost for any work carried out, only parts.
I showed them an invoice for replacement gearbox at £3325.22 which was done under warranty in Oct 2006

They also requested copies of any similar cars for sale currently.
I was able to show one for £15995, another for £9995, another for £5250 and another for £4995

My car is a 2002 FE S8 in Avus Silver with Red leather interior.
My requested and agreed value is £6000
Mileage is limited to 5000 per year, which they record.
My fully Comprehensive Premium as a 66 year old, including my agreed value came in at £286. TOP VALUE +++

The name of this Company is CAROLE NASH INSURANCE.
Phone 0800 954 9068

I have no affiliation to this Company and do not receive any payment for any new policies taken out.
I am only posting this detail here as I know you guys & girls cherish and value your cars as much as I do.
Market Value for our cars is so unrealistic, so an affordable Agreed Value Policy is a great find.
I am sure most of you will be interested in this at renewal time.

Good Luck
David

Nice find. Thanks for the info +++

I've been planning to arrange some sort of classic insurance (when my current insurance policy expires next year) now that my S8 is no longer my daily driver.

Interesting
 

Thanks David,

I'm pretty sure I tried Carol Nash last year on renewal (their office is just down the hill from me ;) ), and they either couldn't, or were too expensive at the time. I'll give them another try now and see if I can get a better deal than I have with Admiral, though I think Admiral's premium quote was similar to the one you got from CN.

My Coupe insurer (Footman James) also wouldn't touch the '8 for classic cover but - weirdly - they would cover a Jag of the same age :tuttut:

I still think the whole insurance industry is a bit of a scam a lot of the time, so a positive story like this is good to hear.

Tintin
Is your current insurer covering you for an agreed value??

I think so, but may be wrong, will need to check. Coupe is ,though I may as well get a quote for that from Carole Nash too while I'm at it ;)

Thanks David. As my car is pretty much the same as yours (2002 FE S8) and I’m the same age as you, I’ll try them when my renewal is due.

I'll try them too, depending what my current insurer (Privilege) say on renewal, though that's actually many months away.

It is worth noting that Carole Nash also offer a multi car classic cover policy as I recall.

I managed to get an agreed valuation policy with Lancaster insurance in February this year. They were happy to class the car as a "specialist vehicle".

3000ml limit, 54yrs old, £6000 agreed valuation, similar process sending pictures and scans for parts receipts etc.

Premium £290

Does the car need to be secured overnight ie in a garage or lock up?