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