Hello all

I thought it was about time that I stressed to you all how important it is to have your Fiat Coupe insured on an AGREED VALUE basis.

I know most of you have taken out insurance policies with me and unfortunately most of you do not take up the agreed value cover. For whatever your reasons I really want to bring to your attention that the current 'book' value of all models is extremely low, I am sure you will agree the values have been for some time and regardless of what you feel your car is worth, in the event of a claim insurers pay the market value. Which also means that if your car is in your opinion repairable then the chances are on a market value basis the car would be written off, as the market value is so low that it would be uneconomical to repair. If you have an agreed value then chances are it could in the majority of cases be repairable.

I have made it as easy as possible with the insurers I deal with for you to have agreed value policies. All it takes is your time to fill in a valuation form and return with photos of the car. Please don't overlook this.

If you need any help with assessing the value of the car give me a call or PM me

Regards
Sarah
Glynwood Insurance

I would personally never insure mine without an agreed value. Not only is it priceless to me as an owner, the amount of time and money spent on it over the years means that I feel it's worth a hell of a lot more than market value. People may also be surprised at what figures can be agreed upon.

Sarah, I know it's a tricky subject but what kind of values are we looking at?
And how can the Value be assessed by photos.
I ask because you could have two very shiny coupes together, one thats been fastidiously maintained and rust free and the other barely clinging to an mot but outwardly very clean.
With both owners wanting to value their car similarly.

It is more than just by seeing photos nissansteve.

The owner has to complete an appraisal form about the condition of the car.

Like all insurance proposal forms it needs to be completed accurately, otherwise in the event of a claim the insurance payout could be compromised.

@Sarah - what do you need annually to maintain the agreed value ?

Like Pete says we need a valuation form completed in addition to at least 6 recent, clear, colour photos of the car.

If the insurers do not agree with the value of the car then you would need an independent valuation, although, in the majority of policies I have arranged this is not required.

Once the value has been agreed and accepted the policy is issued on an agreed value basis and once you receive the documents you are covered on an agreed value basis for that insurance year.

Should you need to increase the value at all during the year due to having done some work to it, ie a respray, then you will need to complete a new form, send in new photos etc.

something else to mention....just a recommendation....if you take out a specialist policy on the Fiat Coupe, please use it in the event of a claim. Our policy has been set up with the insurers being advised in great detail about the car in question, if you use the Third Party Insurer they are probably not that well informed about the car, unfortunately to most insurers it is just an 'old car'.

This is simply a recommendation and my advice.

Regards
Sarah

Thanks for that clarification

Do you mean claim off your own insurance or just liase with them?

Sorry if thats a dull question.

I can obviously only speak about the Fiat Coupe Specialist Classic Car policy I arrange at Glynwood.

Should you have a policy through Glynwood on a Fiat Coupe on this Specialist policy then my advise would be to make sure that any claim made in respect of the Fiat Coupe is made against this insurance policy and your own insurers, not the other parties insurers.

Yes you will need to pay your excess towards any repairs and if the incident is not your fault and it is proven it is the other parties fault then you will need to claim this excess back from the other parties insurers. So yes you will be out of pocket for a while, but the service you receive from your own insurers should be far superior to that which you receive from the other parties insurers and the claim should be sorted easier and quicker by using them.

In addition you have more chance of getting a fair settlement offer initially for the car if it is written off as the insurers involved understand what the car is as this is a specialist policy for the Fiat Coupe. In addition if you have taken out the Agreed Value Cover then you will know already what they value the car at, which will be a bonus and as the policy ahs salvage retention built in then you will also know you will be offered to keep the salvage as long as the car is salvageable.

That's ok then, as long as the policy holder is not out of pocket if they are not at fault.

Who is to blame or held at fault is something for solicitors and the actual insurance company to decide. All I can do is advise on the best procedure you should follow in the event of a claim, in my opinion as your insurance broker.