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FREE AGREED VALUE WITH HERITAGE
Agreed value is an essential element of your classic car insurance policy, if you want to make sure that the amount you get in the event of a claim matches the value of your classic car. We offer free agreed value to all our customers with a classic car insurance policy, meaning we don’t charge you extra to get the value of your vehicle written into your policy.
WHAT IS AGREED VALUE?
Agreed value means that the insurer has agreed the value of your vehicle and set it within your policy. If you don’t have agreed value, any claim would be settled at the market rate value of your car the at time of the claim, meaning you could lose money against its value when you took out the policy.
ASK US ABOUT FREE AGREED VALUE
At Heritage we don’t charge for agreed value – you can get the value of your car agreed for free, giving you peace of mind that if your cherished vehicle is written off or stolen and not recovered, you know exactly what you’ll be paid out.
Not sure if you have agreed value on your classic car policy? Give us a call on 0121 248 9229 and our friendly team will be happy to help you, or send us a message below.
HOW DO I GET AGREED VALUE ON MY CLASSIC CAR?
Just let us know when you take out your policy that you’d like agreed value. We can agree values up to £30,000 readily in-house; if your car is valued over £30,000, we’ll request six photographs to be sent to us. Your photos will need to include:
- front
- rear
- passenger side
- driver side
- interior
- engine bay
We may also request a mileage reading for the vehicle.
PROTECT YOUR INVESTMENT FROM FLUCTUATING MARKET TRENDS
Classic car values can fluctuate depending on market trends. Availability, rarity, and changing fashions can all impact the market value of your classic. Agreed value removes the uncertainty this can create around what you’d be paid in the event of a total loss claim. Free agreed value with Heritage can also give you the option to make adjustments to the value of your classic car mid-term, should its value go up during the course of your policy.
RETAIN SALVAGE
We can include salvage retention as part of your agreed value insurance policy, so that if your car is written off, you can buy back the vehicle at scrap value out of the agreed value due you from the insurer.
In most cases where a vehicle is classified as a write off on the basis that it’s beyond economical repair, you can retain salvage if you have this built into your policy. However, if the vehicle is declared ‘end of life’ (because the damage is too severe) or it cannot be legally put back on the road, you may not be able to retain the salvage.