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Thread: Insurance renewal

  1. #1
    SEC Member hollytree's Avatar
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    Insurance renewal

    Hi
    My renewal with ClassicLine has just come up.

    1 How does one arrive at any sort of number for the agreed valuation amount. I have has ?50k for a couple of years, but can anyone suggest anything please?

    2 Following on from 1 above, I either have to put a number on the form, send seven photos and ?24 for them to agree to the value, or "the club will issue you a certificate"
    Do the club issue a valuation certificate, how, who, where, how much ? etc?

    Regards
    Steve

  2. #2
    SEC Member Normb666's Avatar
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    Re: Insurance renewal

    Steve, I've issued a few valuation certs over the last few years which have been accepted by Classic Line. We (the club) did have an idea that we'd perhaps have a few "qualified" people around the country who could estimate a car's value but it never came off for various reasons, so I just ended up doing a few on cars that I already knew (and therefore didn't have to make a special trip to see). If you'd like me to take a wild stab at yours, I'll have to have a bit of a crawl round the car but that's not too big a deal cos you're not that far from me. When's the insurance renewal due?

  3. #3
    SEC Member hollytree's Avatar
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    Re: Insurance renewal

    Norm
    Thanks for the offer.
    Insurance is due 7/7/22 though I think agreed valuations can follow.
    I have yet to get into "discussion" with them about premium though and may talk to Flux again.
    I am just outside Skipton, but if it takes time and petrol I am happy to just give them ?24 to avoid any inconvenience for anyone.
    Do you think I should stick ?50k or a higher number.
    I was the blue one at the March garage day
    Regards
    Steve

  4. #4
    SEC Member renmure's Avatar
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    Re: Insurance renewal

    I've taken advantage of Norm's socially distanced crawl around for my agreed value insurance with Footman James (who have a specialist kit car / classic car policy which is very comprehensive and they also appear to understand the nature of the cars without requiring loads of photos etc)

    He does eat a lot of biscuits when doing the crawl around tho but I guess you get what you pay for

  5. #5
    SEC Member Normb666's Avatar
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    Re: Insurance renewal

    Yeah, crumbs

    Steve, I remember your car at Phil's but I didn't give it the intense once-over, so I don't mind a trip to Skipton for a closer look. I don't want to say "yeah, ?50k sounds about right" or anything without seeing it. Jim's was pretty easy to value anyway cos it was a brand-new high-spec LB, whereas yours is a few years old now so it's down to spec, condition, how many biscuits you've got, etc. Remember though, that the higher the valuation, the more the premium usually is....
    If you want to sort a visit PM me and we can set summat up. I'm away early next week but maybe Thursday onwards could work?

  6. #6
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    Re: Insurance renewal

    I was with Classic Line whilst I had my (Lagos Blu) Integrale EVO 2. Up to ?100k, you only have to send them half a dozen photos & fill out a form re its condition. Because there's always been plenty of Integrales about, CL were able to quite easily confirm the agreed value I was after (100k). Since our cars are somewhat rarer, it might be an idea to try & source some recent sales so CL can benchmark your car.

    Good luck.

    Cheers,
    Hedge

  7. #7
    SEC Member hollytree's Avatar
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    Re: Insurance renewal

    Hi all
    I checked my policy for this year and it had gone up ?6 since last year (seems pretty fair to me).
    I called Classic Line as i did not know about SEC discount and they applied that.
    I then upped the agreed valuation number by ?10k and got back to ?1 less than last year, so I have renewed with them.
    Thanks for all comments and offers of help- Norm i will still buy you some biscuits when I see you!

    Thanks
    Steve

  8. #8
    SEC Member LPH_UK's Avatar
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    Re: Insurance renewal

    SEC discount!!???

    I just renewed with Classic Line and wasn't aware - how much?

  9. #9
    SEC Member Longtimefan's Avatar
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    Re: Insurance renewal

    I went to Classic Line whilst still building for Build Insurance, after I discovered that they were about half the price of the previous insurer, and when complete stayed with them for full insurance, but had an issue on value initially.

    This was resolved by Norman issuing (as a responsible Officer of the Club) a letter of valuation which they were happy to accept, (I think Norman that was the first one you did). I think that the premium seems to ruffly relate to about ?7 per 1000 at the time. But like others, not aware that they have introduced a Club discount, which is good news as renewal is due shortly.!!!!!

    Robin
    "Why make it easy when you can struggle"

  10. #10
    SEC Member Normb666's Avatar
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    Re: Insurance renewal

    When I was talking to them to get the club recognised by them, I got the impression you got the discount automatically. No harm asking though.

    Robin, when talking about "responsible officer....", I think you missed the "ir" off the front

    Oh, and Steve, glad you got it all sorted. I sometimes think getting insurance is more complicated than building the sodding car....
    Last edited by Normb666; 22-06-2022 at 15:34.

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