Agreed value insurance

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

Get in touch for a quote

What is an Agreed Value 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 much is Agreed Value 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.

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 5 years old, including those with minor modifications. These must be parked off the road, either in a garage or covered on a driveway.

How do I arrange an Agreed Value Insurance policy?

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.

Get a quote

Contact Chris Knott Insurance for an Agreed Value Insurance quote today on 0800 917 2274.

 

 

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Chris Knott Insurance is authorised and regulated by the Financial Conduct Authority (FCA Register No: 304452). Registered in England & Wales No. 2811031.
Registered address: 5th Floor, Cavendish House, Breeds Place, Hastings, East Sussex, TN34 3AA.