Thinking about agreed value insurance? This guide explains what it is, who benefits from it most, and the key information you’ll need to provide when setting up an agreed value policy.
No one wants to think about their pride and joy being written off for any reason, especially if it’s a classic car or modified vehicle that you’ve poured time, money and love into.
Still, “hope for the best and prepare for the worst”, as they say. If the worst should happen to your cherished classic or camper, an Agreed Value policy from Just Kampers Insurance will ensure that your vehicle is covered to the correct value, accurately reflecting its worth.
How does Agreed Value work?
The team at Just Kampers Insurance can arrange an Agreed Value policy to cover your classic vehicle, modified vehicle or modern vehicle, if it’s at least two years old.
It’s well worth considering this addition to your vehicle insurance policy if you believe that the listed market value might not reflect the actual value for your specific vehicle. Maybe you’ve recently restored it, you’ve installed modifications or upgrades, or you just feel the industry market value isn’t a proper reflection of what you could sell your vehicle for.
Once you’ve completed the steps required to secure an Agreed Value policy, it will carry a sum assured, or amount payable, in the event of total or partial misfortune. Because of this, it’s vital to accurately provide details and evidence of your vehicle to ensure the policy protects its true value.
To secure an Agreed Value policy, you’ll need to supply a range of photos of your vehicle, including any modifications or upgrades, as well as receipts to show the cost of the parts and labour involved.This might be for modification work, a full restoration, or just a few upgrades.
These photos and documents are to ensure accuracy in selecting the sum assured against modified parts, or model type, that brings value to your classic or modified vehicle.
As your vehicle is likely unique, it’s important to ensure your policy recognises its full worth.
Still working on your VW or campervan?
Head over to the Just Kampers website and explore their huge range of parts and accessories that’ll help you make your pride and joy as unique as you.
What information will I need to supply?
Photographs of your vehicle
Insurers will specify the kinds of photos they need, and the shots necessary to evaluate your vehicle’s true value – this may involve pictures of the interior, exterior, engine, and any modifications.
Copies of bills and invoices
You’ll also be asked for bills of recent or existing work. It’s essential to support the value of your vehicle through authentic receipts of work that directly show the worth of labour and parts. This will also help to indicate the kind of unique works that have been applied to your vehicle.
An independent valuation from an accredited expert
An optional step, to ensure that the agreed value is as accurate as possible, is a paid inspection that captures, beyond photography, the worth of your vehicle – from an independent, accredited expert.
Agreed Value insurance summed up
Unlike traditional policies, Agreed Value is mostly for classic campers or modified ones. These policies are typically harder to find because they are designed to protect campers or cars above the average marketplace value. Your policy will carry a sum assured, or amount payable, in the event of total or partial misfortune – which is agreed upfront. It’s important to accurately provide details and evidence of your vehicle to ensure the policy protects its true value.
So, if you’ve invested time and money into upgrading, restoring, or modifying a vehicle, be sure to consider Agreed Value cover for extra protection and peace of mind.
Find out more about Agreed Value cover or contact our friendly team to discuss your options.
Who are Just Kampers Insurance?
Just Kampers Insurance was set up with the VW enthusiast in mind and has been providing tailored insurance policies for classic VWs and daily drivers since 1998. We don’t just insure campervans or VWs, but it’s certainly our speciality.
You’ll also save 10% on orders from Just Kampers if you’ve got a Just Kampers Insurance policy:
Insure your vehicle with Just Kampers Insurance, and we’ll give you a 10% discount on every order* you place with JK throughout the duration of your policy.
*Excludes ‘Special Order’ items & gift cards. Discounted amount is a 10% reduction in the product’s retail price. You will automatically be unenrolled once your insurance policy expires, or you cancel it. Discount cannot be used in conjunction with any other offer or promotion.
Click here to find out more about Just Kampers Insurance.
The Just Kampers Insurance £50 price promise:
We’re so sure we can offer you a really competitive price on insuring your precious vehicle that we’ll give you £50 Just Kampers Gift Voucher if we can’t beat your current quote.
