Garage required for classic insurance policy?

[drivegte]

Do all classic insurance policies require the car to be garaged overnight when near or at home? I don't remember this from policies I had a few years ago, but have noticed there always seems to be an endorsement or clause in the policy itself for garaging now. Anyone know of any companies that don't require this?

Thanks

[DAN@ADRIAN FLUX]

13 hours ago, drivegte said:

Do all classic insurance policies require the car to be garaged overnight when near or at home? I don't remember this from policies I had a few years ago, but have noticed there always seems to be an endorsement or clause in the policy itself for garaging now. Anyone know of any companies that don't require this?

Thanks

Hello

Apologies for the rather generalised reply but it does depend a lot on the risk. For example, we have a number of classic schemes that will allow the vehicle to be kept on a driveway or in some circumstances the road but it depends on the area and vehicle value etc. If you advise your insurer that the car is garaged, that should lessen the risk and you may receive a discount or have a classic scheme quote but you will also have an endorsement.

Hope this helps

[1900SR]

With RH if I want agreed valuation then the car has to be garaged. They will however cover a car that isn't garaged, but only at "market value".

With my A, if it is stolen or damaged at home between the hours of (I think) 9.00pm and 7.00am, and wasn't garaged at the time the agreed value won't apply. The Viva on the same policy is not garaged at all, so isn't agreed value.

Edited March 9, 2016 by 1900SR

[Ems]

I'm also with RH and can't get agreed value as I don't have a garage.  I hope I don't have to claim as I wouldn't know what the market value would be.

[®evo03]

How do members get insurance evaluations, as members car values are all increasing yearly, if not quartly, is there any manta actually going down in value? It would be worthwhile for all fully paid club members to get valuations without even having to ask, beg, plead, etc.for them, for supporting this club, its not alot to ask, and at the end of the day, if the tihs, hits the fans, it will hopefully give us a leg to stand on!

Maybe the club could setup a data base for members, say a bog standard gte coupe no modifications, £xxxx amount. 1.8 hatch no mods, £xxxx. 400r every mod the bank allows! £xxxxx etc. Photograph approved!

Maybe build into forum, or is that asking too much as being a fully paid longstanding member? Or maybe a useful proposal for the 2016 agm!

[1900SR]

To give a valuation the car really needs to be seen by the person valuing it, or at least a good set of photos. Any club rep or committee member can do this for you though. Most insurance companies will want a signed valuation, so just having a price guide on the forum might help in the event of someone having a claim who hasn't got agreed value, but won't help with an agreed valuation.

I've never had a problem getting valuations done for my cars, usually by whoever is the East Mids rep at the time. I'll probably ask Simon P to do the next one on my A as it'll be easy to get the car to him.

2 hours ago, Ems said:

I'm also with RH and can't get agreed value as I don't have a garage.  I hope I don't have to claim as I wouldn't know what the market value would be.

I would say best thing is to get a valuation from the club anyway, and just keep an eye out for similar spec cars coming up for sale. Keep any ads for similar cars in case the worst happens.

[drivegte]

Thanks for the replies. Regarding valuation I remember in the past that FJ wanted an independent valuation and were happy with one from a club official. With AF they have their own valuation team and you send photos and a completed condition form in yourself, but you have to state a value that you are requesting. I'm not sure if they accept a club valuation?  

[Rapierdave]

With Manta values generally rising at around 20 % PA then an agreed valuation carried out a couple of years ago could be below what the insurance company believe is the current market value.

The loss adjusters normally use recent ebay/ classic auction prices achieved to get a general value.

You need to take some good pictures of your car so that in the event it is stolen & not recovered or stolen & recovered badly damaged at least the loss adjuster can see what the car looked like recently.

I can understand why a lot of insurance companies require a classic car to be garaged as they are very easy to steal especially for the banger racing fraternity.

In a recent story on here a members (Bungal) Manta was damaged in an accident & the insurance company gave a very fair valuation on the cars value pre accident which allowed the owner to get it repaired & not written off as a cat D.

Agreed valuations are needed if the car is a special modified model like the V8 Manta A that's currently up for sale @ £15,000

[DAN@ADRIAN FLUX]

Hello,

Yes with ourselves we request x 6 photographs of the vehicle ( Each side, Interior, Engine bay) along with the completion of our Agreed Valuation form.  This I believe is relatively straightforward and you would state the valuation you would like.  We do have an admin charge of £15 for this and the valuation usually lasts for 2 years. 

We require this over a club valuation really.

Regards.

Dan

 

[DAN@ADRIAN FLUX]

Hi,

Sorry just noticed that we actual require 7 photographs to complete an agreed valuation.

Regards,

Dan.