Another Insurance question

[Dragonlady]

Hi,

i was wondering if anyone could recommend an insurer who gives agreed valuations? Our current insurers now won't unless the car is pre 1999 so we are looking for someone else to insurer with.

Any advice or information would be much appreciate.

Thanks

Sharon

[havoc]

Have you tried ClassicLine? They've been pretty good with me over the last 3+ years. Which reminds me...my agreed value has elapsed, need to renew it.

[TheSebringOne]

Its time to renew my P & J but ClassicLine said they now need an independent valuation in addition to the standard photos
as the car's value over £20K. I have been with them for 3 years & previously sent in 5-6 pictures but did not required an
evaluation in the past. Also the previously agreed valuation expired after 2 years. I asked to speak to a guy who was the NSX
specialist, called Darren Coote I think, who was the director but has now left them. Any advice please.
Sharon who are you insured with now? Havoc, how did you do your valuation? Thanks

[Paul G]

Hi,

I have just up my agreed value with Hagerty, been with them for the last four years, they seem very on the ball. I have to send in some new pictures but all went well with no hassle. My car is an early one but I think they would help, worth a call.

Good luck
Paul


Hi,

i was wondering if anyone could recommend an insurer who gives agreed valuations? Our current insurers now won't unless the car is pre 1999 so we are looking for someone else to insurer with.

Any advice or information would be much appreciate.

Thanks

Sharon

[Dragonlady]

Hi,

Thats is exactly the same feedback I got from Classicline as well, in fact they said that it had to be a valuation by an independent garage. Also Hagerty wouldn't give an agreed valuation as our car is not classed as a classic due to its age. So we have decided to renew with our exisiting brokers Heritage but will compile evidence of the valuation of similar cars, and take photos of ours to show the condition.

It seems a little hard to get an insurance company willing to give an agreed valuation.

[havoc]

Quite.

ClassicLine's val'n form says "recognised car club, assessor or valuer" - I think the time has come that we try and take it on ourselves as a car-club - plenty of others do.

Who else will?
- I don't want to speak for him, but when I spoke to Kaz a few years ago he seemed reluctant to take such things on...and I can understand/respect that position.
- There are few other true 'specialists' in the country - TGM and VTEC Direct maybe, plus Sudesh in NI. Norton Way aren't independent but probably see more NSXs than any other main dealer.
- Given the rarity of the car, what is a non-specialist assessor going to know / going to be able to add? Probably the next best option, but they'll charge...


Given how spread-out we are, and given that only a few of us are long-term or serial NSX owners, my thought is that maybe a 'pool' of volunteers agree to do a few valuations a year - not individually, but maybe get 3 owners together from the pool to form a consensus. Ideal times/locations have got to be Japfest and SSC, but for one offs the smaller local meets might suffice.

I suspect it'll also need someone of formal standing within the club to carry weight, rather than just any-old owner saying "Of course, your car is worth every penny you say it is"...need to put some thought into how we can achieve that...minimum ownership period / club membership period, perhaps approval by Forum 'seniors'/organisers (ForumAdmin, Sorepaws, ...).

Thoughts? Worth pursuing, or not interested???

[lotusolly]

Quite.

ClassicLine's val'n form says "recognised car club, assessor or valuer" - I think the time has come that we try and take it on ourselves as a car-club - plenty of others do.

Who else will?
- I don't want to speak for him, but when I spoke to Kaz a few years ago he seemed reluctant to take such things on...and I can understand/respect that position.
- There are few other true 'specialists' in the country - TGM and VTEC Direct maybe, plus Sudesh in NI. Norton Way aren't independent but probably see more NSXs than any other main dealer.
- Given the rarity of the car, what is a non-specialist assessor going to know / going to be able to add? Probably the next best option, but they'll charge...


Given how spread-out we are, and given that only a few of us are long-term or serial NSX owners, my thought is that maybe a 'pool' of volunteers agree to do a few valuations a year - not individually, but maybe get 3 owners together from the pool to form a consensus. Ideal times/locations have got to be Japfest and SSC, but for one offs the smaller local meets might suffice.

I suspect it'll also need someone of formal standing within the club to carry weight, rather than just any-old owner saying "Of course, your car is worth every penny you say it is"...need to put some thought into how we can achieve that...minimum ownership period / club membership period, perhaps approval by Forum 'seniors'/organisers (ForumAdmin, Sorepaws, ...).

Thoughts? Worth pursuing, or not interested???

When I last renewed my Insurance, Footman James now ask for a valuation every 3 years when previously my estimate had been adequate.

I just went to my local Honda dealer, they provided a valuation and the insurance company were happy to accept it. (95 manual coupe with 94K on the clock valued by the dealer at £30k)

I don't see how Norton Way would not be seen as an independent valuation?

Olly

[TheSebringOne]

Hi guys, I've managed to get cover with Hagerty with a good premium!

I also tried Heritage which is now part of Norton? They only insured cars over 20 years old!
I won't mention the premium, but its near £1K but with an agreed value & has to be independently valued though.

[Dragonlady]

Hi guys, I've managed to get cover with Hagerty with a good premium!

I also tried Heritage which is now part of Norton? They only insured cars over 20 years old!
I won't mention the premium, but its near £1K but with an agreed value & has to be independently valued though.

I cannot believe Hertiage/ Norton are messing you about, they certainly didn't have an issue insuring our car and it is only 11 years old, and our premium is less than £500 including full UK and European breakdown with the AA. Sounds like you had someone who didn't know what they are doing.

And yet Hagerty wouldn't entertain us as the car wasn't more than 20 years old!! What on earth is going on with these firms. Nevertheless I can glad that you managed to find insurance.

Sharon

[havoc]

They're insurance companies...even the classic ones shouldn't be confused with enthusiasts. Anything they can do to make more money / reduce the payout or risk of payout, they will. The only differences are in the risk-models they use and the customer service they give.

[TheSebringOne]

Sharon, to be honest the person on the line sounded young & kept putting me on hold! Also it was at lunch time too!
Did you have to get an independent valuation with Heritage/Norton? My car is 14 years old. May be I should give them
another call as I have a 14 days cooling off period? The premium was under just under £500 with breakdown cover.

[TheSebringOne]

I rang Heritage/Norton again today & not much has changed! The only thing they clarified was that I could send
in 6 pictures, but if the insurers don't like them, then I would have to obtain an independent valuation!

[m666 edd]

Rather than starting a new thread I thought I'd add here:

I want to try and get some classic car insurance quotes for this year as I doubt I'll have the time to do any track days so am wondering if they might be a cheaper choice. Are most classic car insurers OK with modifications?

Any recommendations?

[Mark N]

Try @hagertyinsurance.co.uk Classic car insurance. They do an agreed value insurance but limited mileage and they were OK with my modifications.I had to send six photos plus a list off the modifications I had and it was that simple . You don't have to send photos again for three years once its agreed.

Mark

[lotusolly]

Although Aon/Footman James have been very helpful with trying to resolve issues, I have had lots of grief with RSA who are the underwriters for the only policy they could offer. I will put up more details once I have my claim resolved but unless you are happy to have your car repaired by a garage that charges less than 40 pounds an hour stay away or expect a long fight!!!
Not wanting to re-insure with RSA I searched around and found Classic line insurance. They were happy to accept the valuation I had done by my local Honda dealer last year, I think they requested 4 photos, declared modifications to bodywork brakes, suspension and exhaust accepted and would be replaced with modified parts, approved event track day cover, 5k miles limit and the policy almost halved my renewal at 403 pounds for the year. :)
Hagerty and competition insurance were no where near the price either.

Olly

[m666 edd]

God knows what I state for vehicle value. I never look at what cars are for sale since buying mine... Just had a look on pistonheads and autotrader and I guess I should write a random number! :-)

[UltraViolet]

This thread has prompted some thought for me - I had an agreed value policy for some years at £20k.... I dropped the value to £18k a couple of years back assuming with age the valiue will have gone down - now I return to the forum and the values seem to have gone the other way. My renewal isn't till Feb, but when I get there, perhaps I need to ask my local dealer what my car is worth. ('91 manual coupe, red/black with 50k miles, new style alloys and full history)

[WhyOne?]

Whilst valuations from Honda dealerships may be the most credible as far as insurance companies are concerned, I am far from convinced that the majority of dealerships have the faintest scooby-doo about such things.

It is probably a catch-22, as whilst NSXCB is probably the most informed source of valuations, I suspect the insurance companies would think us self-serving and unreliable!

[goldtop]

Honda dealerships will have no more idea than the rest of us, of course. They'll just dial up AT/CaC/PH and search for what's on the market at the time.

What's true now is that if you want an uncrashed manual NA1 you have to pay at least £25000, and probably £28000 for one with 50000m.

[L696ULO]

This thread has prompted some thought for me - I had an agreed value policy for some years at £20k.... I dropped the value to £18k a couple of years back assuming with age the valiue will have gone down - now I return to the forum and the values seem to have gone the other way. My renewal isn't till Feb, but when I get there, perhaps I need to ask my local dealer what my car is worth. ('91 manual coupe, red/black with 50k miles, new style alloys and full history)

I'm with Classicline and raised the agreed value to £25,000 last year without any problems mine's a 93 manual, coupe