Agreed Value Insurance
An Agreed Value Insurance policy ensures you receive a set payout if your beloved vehicle is written off or stolen and not recovered.While most companies only offer Agreed Value Car Insurance for classic cars, here at Chris Knott Insurance, we can arrange protection for a wide range of vehicles, including campervans, former military vehicles and everyday cars.
The benefits of working with us include:
- An experienced team able to arrange suitable cover
- An independent broker with access to a variety of policies
- Insurance available for a wide range of vehicles
- There are no mileage restrictions on everyday cars
Agreed Value Car Insurance FAQs
What is an Agreed Value Car Insurance policy?
It is a policy that pays out an ‘agreed value’ in the event of a claim where the vehicle is written off or stolen and not recovered. Put simply, you know how much the claim will pay because it’s already been agreed.
If your vehicle is rare or unusual, or in better condition than similar models of a similar age – and worth more than the market value – you may want to arrange an agreed value policy. It can be especially useful if you have restored a vehicle or kept it in mint condition.
How does Agreed Value Car Insurance work?
In the simplest terms, it means you have agreed the value of your vehicle with your insurer when arranging a policy. In the event of a Motor Insurance claim, your insurer will pay the agreed amount, rather than the current marketing value of the make and model.
In practice, you may need to agree to a valuation and to supply images of the vehicle when arranging a policy in order to ensure that the figure is accurate.
How much is Agreed Value Car Insurance?
The price of a policy varies depending on the vehicle in question. It is typically more expensive than standard Car Insurance policies because it pays out a set amount.
Get in touch today and we’ll arrange a quotation for the best Agreed Value Car Insurance for your needs.
Which vehicles can you insure?
A wide variety. Although most insurance brokers only offer Agreed Value Car Insurance for classic cars, we can arrange cover for ex-military and former agricultural vehicles.
We can also arrange Agreed Value Car Insurance for vehicles over 10 years old, including those with minor modifications. These must be parked off the road, either in a garage or covered on a driveway.
Can I get Agreed Value Modified Car Insurance?
You can. We can arrange Agreed Value policies for modified cars if the modifications are minor. It’s important to mention that there may be conditions associated with the policy, such as being parked off the road or in a garage, but these will be explained to you.
How to get Agreed Value Car Insurance
Simply get in touch when your Motor Insurance renewal is due. We’ll talk you through the policy and make sure it’s suitable, before sending you a simple form to fill in. You’ll need to return it to us along with 6 colour photographs of the vehicle and a mileage declaration.
If your vehicle is valued in excess of £10,000, you may need to supply the insurer with an independent valuation or a car club valuation.
It’s important to note that you may have to get the vehicle valued regularly in order to ensure you receive the correct payment. In most instances, you’ll need to send new photos and a form every two years, too.
Contact Chris Knott Insurance for an
Agreed Value Car Insurance quote today on
0800 917 2274
