Agreed Value Insurance problem

[indi pearl]

Following excellent advice from this board I shall be re-insuring this year with AON on a classic car policy with agreed value.However I have a problem with getting an independant valuation.First call was the local Honda main dealer who has,in the last 4 weeks both serviced P1 and sold my wife a S2K.Said they would not do it "not Company policy",thanks a bunch chaps!
Phoned AON who said a valuation by the car club would be fine,however (please contradict me) I am unaware NSXCB has such a facility.
Failing that where do you go for what I assumed (wrongly) would be a simple and straightforward requirement?
Thank's in adance.John

[Paul]

I use AON and they accepted my purchase price from a few months prior to switching to a classic car policy ... up to that point it had been on standard insurance as my only car with Norwich Union and was my daily driver.

If you still have the paperwork from when you purchased the car if it wasn't that long ago ... maybe that ... along with a couple of adverts from AutoTrader (probably better to list 'trade' ads) might help??

Worth a try?

[Kevin]

Well I guess the NSXCB doesn't have this facility, as it's never been asked for before.

It depends first of all what criteria AON has to say the NSXCB is able to give valuations. I don't mind giving a value but I'd need to know what comebacks or liabilities I may have if I do so.

I have actually tried to get AON to start a club policy. I've emailed them but they haven't replied. My renewal has just come through, and I have to say for the first I'm not too happy with LV, as its jumped up to £700, when it's always been 550.

[indi pearl]

There is no liability on the valuer.The valuation form is simplicity itself and can be completed by either a main dealer,"reasonable" non franchise garage or relevant car club.The whole purpose seems to be simply to avoid any major imbalence and not to confirm any form of "guarantee" of selling price.The lame excuse of my local dealer (Horizon Poole) was that their Glasses guide did not list '96 cars and so they could not give a value as that was against "Company Policy" !! I have since contacted Alan Day Honda, 30 miles down the road in Southhampton who said "fine,drop by some time next week and we will do it on the spot"Looks like my future service needs have just changed dealer.
Regards AON and a deal with NSXCB members I can certainly say the Classic Car Policy (Royal& Sun All) covers everything I wanted, at a very competitive price and not requiring me to utilise my 9yrs NCB wich I have transferred to my daily car and reduced it's premium by some £230.To put in perspective;

2 named drivers 53/54. 9 yrs NCB No claims 1 SP30 Fully Comp,Class 1 B/U,5,000mpy,legal,and,when I get my valuation an agreed value. £524PA
I would guess the majority of members cars are 10 or more years old and as such this policy would,as you sugest be both competitive and bring piece of mind should the worse happen.In conversation with my current broker,who does not have Agreed Value policy's he startled me by saying that a normal policy would pay "Market Price" on claim.Now being a little naive in these matters I assumed (wrongly) that this meant the company would pay out the equivelent of what a similar year/mileage car would fetch on the open market.Apparently the company would,in effect make up it's own value,not based on any "real" market prices and this could easily be half,or even less than the cost of a replacement.That's what has convinced me Agreed Value is the only way to go.
Thank you for your offer of completion of a valuation.If Alan Day comes up with any "problems" I will forward docs.If,as you have sugested we ,as a club forged a link with AON this matter could allways be dealt with "in house" and surely NSXCB must be the most accurate arbiter of real sale/purchase prices for X's in the UK.

[Paul]

Another good thing about AON ... having had a letter from RMA confirming my attendance and taking part in an organised track day event ... with RMA at Bedford and two instructor sessions ... they will insure me for future track day events ... at a small premium of course ... but it is a lot more affordable than a specialist single day policy.

[gsuds]

Also with AON / RoyalSunAll...just done JapFest track session with their full knowledge...and NO extra premium. It may be that as long as you phone letting them know about each session/time etc they'll do it for nowt, the premium may be to allow you unlimited access as it were.

Have to say, they're pretty good all round, very obliging. Just added the Landie to my policy & they gave me 2yrs introductory NCB...I only have 4yrs on the X!

Although my policy is still "Classic MX5"! :rolleyes:

Graham

[lotusolly]

I am also insured with Aon. My policy allows me 5 free track day events a year although you do have to have their approval for the event before taking part. I think they will cover more events but then they may charge extra. As far as the agreed valuation goes I just told them what I thought it was worth and they accepted it. I have not been asked for any verification. The value of any nsx is so variable depending on condition I cant see how the club could offer this service. As a guide for insurance value maybe just keep an advert for a similar aged car advertised by a dealer if you can find one.
Olly