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[Betsy1969]

When I renewed last year I decided not to include breakdown cover as there was no chance of it moving for quite a while. However , now I am in a position to drive my Landrover again so I decided to put breakdown cover back on my policy. No problem there and it’s done now , but whilst reading my documents I noticed the words Market Value .. alarm bells started to ring !
So when I phoned up to put the breakdown cover on I raised this with them only to discover that I hadn’t had an agreed value on my policy since 2017 although I did have before that . It seems that the company used by my brokers had changed things and wouldn’t cover me anymore so they used another company ( I was informed when I renewed in 2017 but it wasn’t made clear that the Agreed value had gone ) So it’s a good job I didn’t need to claim in that time or I would have been victim to market value trickery. I can only assume that when I read my docs it had the words “ Maximum Value “  followed by the amount I had requested as my Agreed value so I didn’t panic.

Anyway the message here is make sure you read everything properly.

I know , schoolboy error on my part but at least everything is back to normal now , apart from a new set of photos required by my broker .

Andy with a red face .

[g6anz]

I renewed my insurance with Footman James and upped the agreed value at the same time. It now has an agreed value of ..........£8K. No photos required and they took my valuation without a query.  I got the valuation from Hagerty (http://apps.hagerty.com/ukvaluation/index.html?showBacklink=1) and its the lowest one they do for series Land Rovers. I could have said it was worth more but then they might have started haggling if they needed to pay out.

[GlenAnderson]

Looking at Hagerty I think I may have to have a serious revision of agreed value at renewal time.

[Betsy1969]

Me too

[Scavenger]

I had the same thing with Heritage insurance.

Because of I’ll health, managed to leave the renewal till last minute. They wanted to increase the premium by 50% for agreed valuation and then only at £3K. Hadnt got the energy or time to argue, but next year I will.
Oh and Footman wanted double Heritages quote!!

[MrTDiy]

Gosh...me too...thanks for the link, kind of you to share this

[Big-chris]

Footman James will do up to £15000 agreed value without photos or inspection, but for the last two years the basic policy price increases after £5000 + the £10 fee to have agreed value on your policy.

Had all my Land Rovers agreed values at £15000 each for years until the policy renewal went up £150 two years ago, now they a covered to what I think I can replace them at, and back to under £200 per year for all four with modifications + the Jimny

[GlenAnderson]

Thing is, I don’t think I could replace mine for less than about £15k; probably more.

[Betsy1969]

Wowzer !
I’ve just looked on the Hagerty site and realise this is the first vehicle I’ve ever owned which may have made a bit of money. Not that I bought it for that reason but it’s nice to see it may not have plummeted in value 😀

Now someone will remind me how much I’ve spent on it no doubt .

[whitehillbilly64]

My S3 Daily driver fully insured with Shannons Aus.
If written off, you get full payout, plus you get to keep your vehicle.
Agreed value over the phone.

whitehillbilly

[Genem]

Mine is with Adrian Flux, simple process of taking some photos to get an agree value for the lightweight, now sitting at almost 3x what I paid for it.  I'm not sure how easy it would be to replace a 2A lightweight, there were only +/- 2500 made and they don't seem to change hands often. I suspect most were ragged into scrap as triallers in the 80s?  Renewal a couple of months ago at exactly the same as last year.

 Having seen a friend vehicles destroyed in a garage fire while awaiting restoration I'm thinking I might put the Ambulance back on a policy.

[Wittsend]

The devil is in the detail ... read the small print

It is said out of the first contract batch of LWTs several hundred were smashed on Salisbury plain as they were "experimenting" in dropping them from helocopters 

[Big-chris]

You have to be realistic though with values, we all see the £30000+ ones out there but 

I have a Merryweather fire tender, one of two made for I’m told Sheffield fire service, one of them was destroyed in a fire  so I have the only one in the world that looks like mine, how much is it worth? How much would it cost to replicate albeit without its history + with a great big PTO driven compressor bolted to the chassis?

A, I know how much I paid for it.. B, how much I have spent on it, so in reality it’s A+B = value 

The more mystical values out there the more the insurance premiums rise so we all suffer 

I suppose we all have to be happy that if the worse did happen you could buy another in similar condition and specifications, I didn’t use the replace word on purpose because we all know how unique our Land Rovers are.

[Rory]

The devil is in the detail ... read the small print

It is said out of the first contract batch of LWTs several hundred were smashed on Salisbury plain as they were "experimenting" in dropping them from helocopters 

It wasn’t so much experimenting as the loads were often released by the, at the time, automatic hitch that the helicopters had fitted. When the helicopters came in fast and slowed down to place the vehicles the load would swing forward and the hooks would disengage letting the load go with the forward momentum!

The source of this information was my dad who was FAA working on Wessex.

[Sunny Jim]

The important thing with having a decent agreed value is to consider the 'write off' threshold which is a repair cost above predetermined fraction of the value (is it two thirds?). A series Land Rover can be rebuild with a new chassis and bulkhead, and second hand body parts if necessary. This means you are less likely to lose a perfectly repairable but significantly damaged vehicle that has sentimental value beyond its material one. I made it clear to my ensurers that I would rebuild the vehicle irrespective of cost provided it was technically feasible. A lot of historic vehicles would be written off if there was significant body or chassis distortion where a Land Rover can be repaired safely with new parts.

I am sure some of the immaculate early 80 inch restorations that go on sale have little more than the chassis plate and the axles from the original vehicle!

Sunny Jim