Does anyone in the UK have agreed value insurance on their 500. I am insured with Peter James but you need a reputable Classic Fiat 500 specialist to value it.

It used to be the Fiat 500 club UK who offered this service but since the unfortunate early death of their chairman, they are unable to offer valuations.

They have suggested Middle Barton or Proietti may be able to? Anyone have any other leads?

I am not sure what the classic car insurers value a 500 at but I would imagine it is well below their true value.

Tony

Whoever you go with, make sure you read the small print, including at renewal. I had a MkI Porsche 924 Turbo on an agreed value policy for several years. I forget the broker, but the underwriter was AXA.The valuation was by Porsche Club UK. So a "little old lady" pulled out in front of me on a roundabout in Bournemouth, and dispite avoidance damage to the front quarter resulted. Only a few £k damge but they wrote it off. The comment was "we don't do agreed value policies". They took the car to storage without telling me, where it suffered further damge to the pont it was a write off. I got £2k :-(
Insurance ombudsman was no use as they don't get involved with valuations.

Robert G8RPI.

Tony, co-incidentally I will be renewing my own insurance today. I will be going with my existing brokers as they are doing both my classics jointly and with another on the way, it keeps things "simples" and reasonably priced.
I don't have "agreed value" so I will check with them what I could do to ensure full compensation.
What they do do with my older car is to guarantee that if written off, in addition to a full payment of compensation, I get to keep the salvage at no additional cost.
I have a few questions to ask including about mileage so will keep you posted.
All the best. Peter
PS. Shut for Bank Holiday of course.

fiat500 said:

, it keeps things "simples" and reasonably priced.

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To all those down under reading this, am I the only one thinking that there is a Meerkat flogging insurance in the UK as well now?

Joe R

Not only meerkats Joe, adorable meerkat babies too. Don't worry about my sanity though, I haven't fallen for it (yet).

Insured through Footman James, guranteed valuation of £8000, with no valuation necessary to get this. I'm not sure what their cut off point is that they require an independent valuation.

Cheers Steve

I am also with 'Footman James'. My car was valued at £12,000 by Tony at Middle Barton, but at that price they told me that they may require the car to be inspected--at my cost. Due to time constraints, this was not possible (I was due to move house in 3 days!), we agreed a 'no inspection require' valuation of £10,000. By paying a small extra amount, they have guaranteed a 'reimbursement valuation' of £10,000 if the car is written off. I have found 'Footman James' to be very helpful.

Hi All,

We're also insured through Footman James and, after answering a few questions about our car, they agreed a value of £10,000 for our car with a premium increase of £10. The lady I spoke to put me on hold for just a couple of minutes after I asked about an agreed value and when I said I wanted it covered for that amount she said that figure didn't present any problem. They also agreed that we own, and keep, the salvage should the worse happen.

Again, as written by The Hobbler, we found Footman James very easy to deal with.

Just my two penny worth.

Ian

I used to be insured with Footman James but I am now with Peter James, who I believe was the original James in Footman before he sold it on.

I have just done an online quote and whilst they are more expensive they do offer agreed value as others have said for an additional £10 without the need to complete a condition form or send photos, so in the long run its probably the best way to go.

Tony

Footman James sounds good but I renewed with RH Specialaist Car Division with a multi-car policy.

I was able to up my mileage allowance to 5000 pa. at no extra cost.....will it be enough The next parameter is "unlimited" and that gives me no discount on the premium. I had to be careful asking about this subject.."But it's a classic car, how much can you drive it?" she asked in ignorance.

I asked about agreed value and if a classic car club official placed a value on the car the insurer will accept that at no cost to the premium. The situation I am in is as I thought. In the event of a total write-off an engineer would consider the condition of the car before the accident, look at the current market prices and value accordingly. So maybe a bit of a risk.

No worries, I don't drive it enough to have an accident?

We have our car insured through Peter James - agreed value £6000 and I just had to fill in a simple form and supply two photos.


Fully comprehensive, unlimited mileage and UK European Breakdown cover all for a whopping £91.20!

oopsadaisy said:

We have our car insured through Peter James - agreed value £6000 and I just had to fill in a simple form and supply two photos.


Fully comprehensive, unlimited mileage and UK European Breakdown cover all for a whopping £91.20!

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Thanks Oops mine is exactly the same premium £91.20. It says on insurance value £10000.00 agreed:no. I need to give them a call tomorrow to clarify what they need to say yes to the value.

Tony

Thanks to the additional posts, it's good to know that Footman James threshold is £10K without an inspection.

thanks, Steve

stevehg said:

Thanks to the additional posts, it's good to know that Footman James threshold is £10K without an inspection.

thanks, Steve

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I put £13k on my quote Steve and have just spoken to Footman James and they said that if their valuations team felt that was too high they would ask you to complete a vehicle condition form and send some photos of the interior, exterior and engine bay ect..... There is a £10 additional fee for agreed value.

Tony

Since I got two classic cars covered for less than £100 but as I clearly don't have the security of cover that I could have got, it set me thinking.

Our total loss, if it happens, is most likely to be because of theft. If it's in a crash, heaven help us because the value of the car won't be the last thing on my mind

My insurance depends on the car being garaged overnight and I guess that will be fairly universal.

The thing that puzzles me is what if the car is stolen when unavoidably parked away from home? Do any of our policies pay us compensation?

fiat500 said:

Since I got two classic cars covered for less than £100 but as I clearly don't have the security of cover that I could have got, it set me thinking.

Our total loss, if it happens, is most likely to be because of theft. If it's in a crash, heaven help us because the value of the car won't be the last thing on my mind

My insurance depends on the car being garaged overnight and I guess that will be fairly universal.

The thing that puzzles me is what if the car is stolen when unavoidably parked away from home? Do any of our policies pay us compensation?

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Funny you ask that as I when I was talking to Footman James, on the bottom of their confirmation email it says all cars must be garaged between 10pm and 6am. Which sounded like a curfew to me but the guy explained that obviously you can drive the car between these hours and if you go away for the weekend you are not expected to bring it back at night. You will still be covered if say it is stolen whilst you are away for the weekend.

It does bring up another question though on security of your car, as I reckon I could probably start one in less than 5 mins without the key. I have got a steering wheel lock but I used to have one of those devices that would bolt onto the battery lead and you unscrew a knob that cuts off the power from the battery, but I only seem to have one half of it now????

Mind you if you were determined enough you could easily pick it up with the help of a few fellow thieves and walk of with it.

I have noticed that a lot of classic cars now have the windows etched with the reg. number and I guess that makes it a lot harder to sell the car on as an entity.
I think the 500's starting lever makes the car more of a challenge to an ignorant opportunist.
The old trick of removing the rotor arm is the best...sorry you electronic ignition chaps.

fiat500 said:

I have noticed that a lot of classic cars now have the windows etched with the reg. number and I guess that makes it a lot harder to sell the car on as an entity.
I think the 500's starting lever makes the car more of a challenge to an ignorant opportunist.
The old trick of removing the rotor arm is the best...sorry you electronic ignition chaps.

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Good point on the rotor arm, with a 123 distributor you still have a rotor arm so I guess that's another advantage over Hall effect ignitions systems.

Mind you most opportunist joy riding youffs probably wouldn't be seen dead in a 500 and the car chase would be a bit of an anti climax.

Vitesse said:

Mind you most opportunist joy riding youffs probably wouldn't be seen dead in a 500 and the car chase would be a bit of an anti climax.

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Not so sure about that. I get universal adoration for the 500; it seems that it has definitely become a "cool" car universally.
But you're right...they wouldn't get far

Vitesse said:

Funny you ask that as I when I was talking to Footman James, on the bottom of their confirmation email it says all cars must be garaged between 10pm and 6am. Which sounded like a curfew to me but the guy explained that obviously you can drive the car between these hours and if you go away for the weekend you are not expected to bring it back at night. You will still be covered if say it is stolen whilst you are away for the weekend.

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I noticed that garage parking restriction, and thinking of a time like working on the car that I may want to leave it out overnight, I tried the quote with driveway and the premium was exactly the same, and it naturally removes the garage restriction. So assuming you have a driveway this is the option to go for.

cheers, Steve