Agreed Value Classic Car Insurance

Agreed Value Cover involves getting a recent valuation for your classic car and agreeing on the value with your insurance provider.

The idea is that certain classic cars can be worth more as they get older because they become fashionable, rare and sought after vehicles. This is different to a regular car that depreciates in value over time.

So if you can get your classic car valued for what it is worth as a prized vehicle, the agreed value cover will mean that your insurer can cover the real value of the vehicle in the event that it is:

  • Lost or stolen
  • Needs repairs due to accident or damages
  • Needs replacing due to fire, flood or peril
Classic car in castle grounds

Call us on 0333 003 3270 and speak to the experts today

Why Would You Need Agreed Value Insurance?

Agreed value insurance is not just for classic cars as it can also be used for other purposes such as contents or life insurance. However, you can understand that because classic cars can go up in price over time that it makes sense to have agreed value cover. For many, their classic car is their pride and joy. Whether you drive it on weekends, weddings or classic car shows, it is more than just a way to get from A to B.

But if your classic model is damaged or involved in an accident, the insurer might only provide compensation for what the model is worth as a standard vehicle. Since classic vehicles can be over 30 years old, the insurer might consider the value to be very low, not realizing that being so old is what makes it valuable.

Therefore, having agreed value cover is essential. You can agree the real value of your classic car and get the financial cover you need to replace it.

How Do You Work Out the Value of a Classic Car?

There are several ways to find out the value of your classic car. You can take it to the garage of the manufacturer, speak to a classic car club or use online valuation tools. Some insurers will ask you to fill out an agreed valuation form and include information from the V5 and MOT documents.

There are several factors that are important to maintain a high value for a classic car. These includes:

  • Confirming the paperwork and documentation
  • Taking it for road tests and finding any faults
  • Checking lights, tyres, and suspension
  • Finding rust and other wear and tear

How Often Should You Revalue Your Classic Car?

You can get your classic vehicle valued every couple of years, but there is no reason you can’t ask your insurer to revalue it annually. This will require the standard checking and documentation, but it might be a clever way to protect your vehicle if it ever needs replacements or repairs.

Above all, you can never be sure if your classic vehicle will ever go up in price year-upon-year. Perhaps it reaches the 30th anniversary or the model becomes very popular, it can be worth getting the vehicle re-valued for insurance purposes.

Get a Quote for Agreed Value Cover with Call Wiser

At Call Wiser, we can help you get agreed value insurance cover for your classic vehicle. It is one of the things that we will offer with our classic car insurance policies.

As a leading independent insurance broker in the UK, we are dedicated to finding the right policy for you. We work with over 30 top insurance providers in the UK and will find different ways to get you the best price by looking at things like the agreed value, excess cover, and annual mileage.

If you have more than one classic vehicle or have another standard vehicle, you can look at our multi car insurance policies to see how you can save by purchasing insurance in bulk.

At Call Wiser, we believe it is better to talk over the phone because it allows us to ask to follow up questions and ensure we are getting the right information to find you the cheapest deal.

Simply call us today from a landline on 0800 298 2190 or on a mobile on 0333 003 3270. Our team of insurance experts are based in Hampshire and are available to assist you today. If now isn’t a good time you can request a call back and the team will be in touch at a time to suit you. Alternatively, you can also get a free quote online.


Call Wiser is a trading name of Be Wiser Insurance Services Ltd. Registered in England No. 6097813. Be Wiser Insurance Services Ltd are Authorised and Regulated by the Financial Conduct Authority 465471

Call Wiser, Riverside House, 35-37 Bridge St, Andover, Hampshire, SP10 1BE, 0333 003 3270, general@callwiser.co.uk