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Agreed Value Car Insurance Polices

In the unfortunate case of a total loss whether by accident or theft, most insurance policies are geared to pay out the lowest amount they can.

Decisions on what that value is vary by insurer, but if you have spent a great deal of time and money on your classic, modified, hot rod or converted car or van, chances are the true value is considerably higher than the price the insurer will place on the vehicle. This means that you have the potential to lose out quite significantly in the event of a total loss.

Whilst most insurers try to make every effort to get their valuations right, inevitably there can be a large grey area of disagreement. However, this can all be avoided with an agreed value car insurance policy at Brentacre where we have over 30 years experience offering agreed values.

Agreed Value Car Insurance

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With most of our classic car insurance policies and a select few modified car and van policies, we can offer an agreed value. This means that should you suffer a total loss, the insurer will pay the pre-agreed value of the vehicle rather than the amount they place on it at that time.

To obtain an agreed value, we ask you to provide the evidence of the proposed value by way of photographs, professional evaluations or a declaration. In some cases, we can accept “self valuations” if a car club or independent valuation is not available but this needs to be discussed with a member of staff. We will then assess the information and either grant the agreed value endorsement or discuss a suggested figure for your consideration. We have over 30 years experience offering agreed values so you can be sure that any discussions will be sensible and at all times you’ll be advised of how the decision has been reached.

agreed value insurance

If you have a vehicle on our modified car insurance scheme, an agreed value isn’t generally needed. This is because we request a full list of modifications that we replace on a like for like basis where possible. However, if you do still wish to have an agreed value on your modified car, we would be happy to take a look.

Alternatively, if you have a vehicle on our campervan insurance scheme, if it started out it’s life as a standard van, the value would usually increase significantly when it’s fully or even partly converted. Therefore, with all the time, effort and money put into the vehicle, the last thing you would want to happen is to have an accident and the pay-out to not reflect what’s been put in to the campervan build.

For more information regarding our agreed value car insurance polices, call us on 01792 650933 or download one of the forms below.

Our Agreed Value Valuation Forms

Please note that all of the agreed value files above are in PDF format. Therefore, if you can’t open them, please download Adobe Reader.

Our Agreed Value Insurance FAQ's

With Brentacre, an agreed value on a modified car isn’t necessary because your vehicle is already covered on a modified insurance scheme. This means that your vehicle’s modifications are already covered on a like for like basis.

If you have a classic car or an American car insurance policy, an agreed value comes as part of the scheme, so it’s not chargeable. An agreed value car insurance policy at Brentacre is only chargeable if it’s on a different scheme such as a self-build campervan.

All you need to do for our agreed value car insurance policy is complete a form detailing the condition of the vehicle as well as providing a few photos. You can send us more photos if you wish but we only require photos of the engine bay, side of the vehicle, interior and rear.

An agreed value is secured for a set period, normally 2 years, which means even if the market value reduces during that time, the higher amount that has been agreed will be paid out.

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