Classic Vs regular car insurance policy

[Ken635]

Hi Folks,

Am in the UK and about to buy a 40 year old M635csi. I got a quote from Hagarty for classic car limited mileage insurance at around £600 a year. This is based on it having a set agreed value so if it's a total write off or unrecovered that's what they pay you.

I was surprised to find that Admiral say they can add it to my other 2 cars, with social and commuting use for me and wife, with European breakdown cover for £260! But that's not on an agreed value basis - but surely they would still have to pay out a fair amount if totalled? 

Any thoughts on classic Vs regular car insurance here? I kind of assumed Admiral would just not cover it as such an old car - or would be really expensive.

thanks
Ken

 

[Greydog]

Morning Ken

Take care here my X5 E53 4.6is only 800 ever registered in the UK and less than 200 left on the road is on a Classic policy with agreed Value. My other cars are like you with Admiral the danger is that the mainline companies will use valations from an assessor employed by them or a general panel, ask We Buy any Car for an estimate of what your 635 is worth !! My agreed value is £9k (I was offered more last year at Goodwood) We Buy any Car tell me its worth £700 

Just my thoughts

Dave

 

[Ken635]

thanks Greydog - yeah that's my worry and I guess you never find out what Admiral would pay out till you make a claim.

Maybe after arguing and proving you can't source a similar car with similar condition they would pay up but I suppose 'similar condition' is a very vague thing. Thinking I'll pay the extra for agreed value policy. 

I'm just amazed Admiral can include 90 days free European breakdown cover for a 39 year old car - maybe they just have one guy in France with a 2CV and a tow rope 

Ken