Specialist insurance broker announces online approval of agreed value insurance for treasured or modified vehicles.
Specialist motor insurance broker Herts Insurance Consultants (HIC) has introduced an online version of its ‘agreed value’ insurance scheme.
Motor enthusiasts who’ve spent a lot of money modifying their pride and joy – or restoring a collector’s item – naturally don’t want to think about ever making a claim. And if they are faced with a write-off on a treasured vehicle they don’t want to have to negotiate its final value. So an agreed value is a vital part of many policies.
But agreeing a value with an insurer has often involved a lot of to-and-fro discussing and phone calls, emails or letters, and even individual inspection – all taking up a lot of time.
"We’ve decided to ‘call time’ on this long process and make the agreed value system easier to do – totally online," says Andy Morton of HIC. "We can do it with almost any vehicle and it won’t involve many questions, just sight of some photos – which can be uploaded via the HIC website – and an explanation of your valuation."
Morton says that in most cases HIC is willing to accept the valuation that the owners themselves put upon their vehicle.
"We’ve come across loads of examples of people who’ve put a lot of work into their motors and can’t get fair cover even after hours of phone calls and a lot of leg-work, let alone automatically online," he points out. "These include a motor home customised by the owner with a high quality interior, and some heavily modified – or restored – classic vehicles."
An agreed value won’t always help reduce the premium, of course. But it will ensure that the vehicle is insured for what the owner truly believes it is worth. An agreed value has a modest additional charge of £11.75 if you do it online, or £15.75 if you do it in the traditional ‘offline’ way.
Agreed value is not only useful for write-offs, Andy Morton says. "Typical cases can include theft or vandalism, where the vehicle might be recovered in a sorry state, and repairs could involve specialist work beyond what a normal workshop will provide."
HIC is the enthusiast’s car insurer with a passion for motoring that translates into great deals on car insurance. For more information visit www.hertsinsurance.com or call 08451 290290.