Agreed Value Cover
Your vehicle is insured for a pre-agreed amount — not a depreciated market value. Essential for classics.
Agreed value is the cornerstone of classic car insurance. Unlike standard motor insurance — which pays a depreciated market value at the time of loss — agreed value cover pays the full insured amount that you and the insurer agreed when the policy was taken out. For a vehicle that may be appreciating in value, this is not just desirable; it is essential. Your classic car's value should be reviewed annually and updated whenever the market moves significantly.
Why This Matters for Classic Car Owners
Classic car insurance is a specialist product. Standard motor insurance was designed for vehicles that depreciate — not for collector cars that hold or increase in value. Agreed Value Cover is one of the key protections that separates a proper classic car policy from a standard motor policy.
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