Agreed Value Insurance
Just Kampers Insurance can provide you with an Agreed Value policy on most classic, modern or modified vehicles. It is important to consider an agreed valuation as in some cases, for example, with a recent restoration or upgrade, the listed market value may not reflect the true value that could be reached if you were to sell the vehicle.
For an agreed valuation to be approved, customers are required to supply several photographs and receipts for parts and labour which provides evidence of any improvement, upgrade or restoration work undertaken on the vehicle. Whilst this applies to both classic or modified campervans, for car insurance the types of modifications and classic models are likely to vary.
The purpose of evidence is 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.
Varying between insurers, evidence typically includes:
Photos of your car
Insurers will specify the kinds of photographic evidence required, and the shots necessary to evaluate your vehicle’s true value – this may involve photos of the interior, exterior, engine, and other modifications.
Bills of recent / existing work
It’s essential to support the value of your vehicle through authentic receipts of work that directly express worth of labour / parts. This will also help to indicate the kinds of unique works that have been applied to your car.
An evaluation from an accredited expert
A paid inspection that captures, beyond photography, the worth of your vehicle – from an independent, accredited expert.
Key Summary:
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.
It’s important to accurately provide details and evidence of your vehicle to ensure the policy protects its true value.
Agreed Value Camper Insurance
These kinds of policies carry a guaranteed sum, that covers your vehicle in the event of a total loss. Agreed value policies, specifically, are for vehicle owners of a car that exceeds its average market value. In the scenario of a misfortune, your vehicle is covered beyond the average market value, securing its unique worth.
Uncommon to the market, Agreed Value policies tend to be more specialist and are aimed at classic, performance, or modified campers. This policy ensures that, in the scenario of costly misfortune, your camper’s value is safeguarded and recognised. This policy not only minimises your risk but boosts your coverage and confidence against fluctuating markets. Agreed Value can make your vehicle feel more like a secured investment.
For Modified Campers
If your campervan has been modified, it’s important to declare any changes to your insurer. The full list of these modifications is captured in your insurance policy for modified campervans. Unlike a car, a campervan can be modified with a host of changes, from cosmetic to internal ones, including paintwork, to seating and storage, or window work. Having an itemised, and accurate, inventory of these modifications captured in your policy is an essential step in insuring your modified campervan.
A policy with an Agreed Value certificate can further capture the costs involved with modifying your campervan. Agreed Value for modified campervans can protect the true value of your vehicle from costly damage.
For Classic Campers
Agreed Value benefit is especially useful for classic campervans as your car likely holds its value longer in time, if not it increases with age and rarity of the model. Unlike a modified one, your classic camper may be more valuable depending on its age and model, which could make it a collectible.
It’s worth considering an Agreed Value policy if you drive a classic camper to guarantee its market value and protect your asset against costly misfortune.
Agreed Value Car Insurance
If you choose to insure with an Agreed Value benefit applied to your policy and your car is, unfortunately, subject to a total loss, then any offer made will be based on the Agreed Value, rather than a current market price valuation.
Unlike conventional, blanket-style policies, an Agreed Value certificate is designed to recognise and control the true value of your classic or modified car. Not every policy will capture the full worth of your vehicle, and conventional insurances can feel underwhelming in safeguarding any classic or modified car.
If you’ve invested in your vehicle to withstand depreciation, then you’ll need a policy to help keep a record of its value.
For Modified Cars
Technical or cosmetic modifications can transform not only the look and feel of your modified car, but the value will increase too. Your car isn’t standard, so how can a conventional insurance policy cover it?
With a modified car, it’s imperative your Agreed Value certificate captures all of the changes to your vehicle and evidences the value of that work. Anything missing from that checklist and your vehicle is at risk in the scenario of misfortune.
For Classic Cars
Unlike modified cars, which gain value from new parts, a classic car is likely to increase its worth depending on its level of heritage, its working condition, and its pedigree. If you own a classic car that is above the average market value because of its rarity or condition, then an Agreed Value policy can help safeguard your collectible.
This applies to heritage, collectibles, and other classics, as an Agreed Value certificate will transform your policy from standard insurance into a more bespoke item that captures value hidden in the detail of your vehicle.
Find a Policy For You
If you’re finding it hard to get a policy that fits your vehicle’s true worth, or just want that added confidence that your classic car – such as a VW – is taken care of, get in touch with Just Kampers Insurance today. Once the relevant evidence has been easily submitted to the team at Just Kampers Insurance, we’ll review and, if approved, we will send you an Agreed Value certificate.
We only debit the payment when you return the fully completed Agreed Value application to us.
If you would like to talk to the team about an Agreed Value policy please call 01256 976165 or click on Get a Quote for an instant online quotation or use our web call back service.
Agreed Value FAQs
Completing your agreed value request online
To complete your agreed value request with Just Kampers Insurance, is to log into your MyJustKampers account.
If you haven’t registered for your online account yet, check your inbox for our sign-up email, or visit the MyJustKampers website to get a new one sent out. If you have already registered, click here to log in.
The whole process can be completed online, saving you the inconvenience of posting documents to us.
If we need anything in addition to the photos and the agreed value form, such as an independent valuation, we will contact you to let you know. If you have accepted your renewal invitation, and you already completed agreed value for the previous policy year, you will have to wait until your renewal date passes before completing agreed value again.
What is an Agreed Value?
Just Kampers Insurance offers Agreed Value cover, which is the set amount you’ll be paid in the event of a total loss, after taking your policy excesses into account. The Agreed Value is set once our in-house experts have evaluated your vehicle, typically after you have supplied us with photographs and an Agreed Value Request Form.
Can I have an Agreed Value?
Agreed Value is an optional policy extra available with Just Kampers Insurance. It’s ideal for vehicles that are over 20 years old, as you’ll get the assurance of knowing the exact amount you’ll be paid in case of a total loss, with no guesswork involved.
We can also still offer peace of mind if you have a newer vehicle, with an additional policy which runs alongside your motor insurance policy. So, if the unexpected happens and your car is a total loss, this policy steps in to cover the gap between what your motor insurer pays out and the specific Agreed Value you’ve chosen.
How long does my Agreed Value last for?
Once you’ve finished the valuation process and obtained an Agreed Value, it becomes a partner to your motor insurance policy. They go hand in hand to keep your vehicle protected, and typically lasts for a year.
After that, when it’s time to renew your vehicle insurance policy, we’ll need some more photographs or forms from you. It’s just to make sure everything is up to date and accurate.
An important thing to remember: if, for any reason, your motor insurance policy gets cancelled, the coverage on your Agreed Value Insurance policy stops too.
What paperwork is required in order to have an Agreed Value?
In most cases, we’ll require seven photos and an Agreed Value Request Form.
When it comes to the photos, it’s important to take them after you’ve set up the policy. That way, they’re up-to-date and reflect the current condition of your vehicle.
We’ll need clear shots of each side of your car (driver’s side and passenger’s side), the front and back, the engine bay, the mileage, and the interior.
If you’re insuring a motorcycle, we’ll need square-on photos of each side, the front and rear, with one that includes the registration number.
One important tip: make sure your vehicle is clean, inside and out, before taking the pictures. We want them to be sharp and in focus, so no soft-focus or blurry shots. Also, make sure there are no obstructions like posts, bushes, trees, or walls in the frame.
Why do you need photographs?
Photographs of your vehicle are essential for our team of in-house experts, as without them, we won’t be able to properly calculate the condition and therefore value of your vehicle.
How is my vehicle assessed?
We’ve got a team of in-house experts here at Just Kampers Insurance who will evaluate the photographs and the Agreed Value Request Form which you sent us.
Sometimes it can be tough to place a value on a vehicle based on this alone, but it’s important for everyone that we get it right, so we may ask you to provide further paperwork. This could be copies of receipts and invoices for modifications and restoration work. The more supporting documentation you can supply, the better. Once we have completed our research, we will issue a schedule on behalf of the underwriters with the Agreed Value in place.
Why do you charge for an Agreed Value?
The Agreed Value benefit on the vast majority of our specialist and classic schemes is valid for one year, and the charge is only payable if you decide to proceed with the Agreed Value and we issue you a valuation. There is an initial fee which covers the work the specialist Agreed Value team carry out in assessing your vehicle and changing your policy records, and the cost of our Agreed Valuations depend on the value being requested, but are available for as little as £18. The benefits of having the Agreed Value on your policy outweigh the small fee for the service.
If you have paid for the separate Agreed Value Insurance Policy, the price paid covers the administrative costs, and you are not required to pay anything further.
My vehicle has had a complete restoration, what do I list on the form?
The best thing to do is to provide us with as much detail as you can. It would be great if you could include any receipts and invoices you have. If the form doesn’t have enough space for all the information, you can use extra paper. Just make sure to write your reference number on any correspondence you send to us. We want to make sure we have all the necessary information to assist you and properly assess your car, so it’s always better to give us too much information than not enough!
I've already sent photographs and forms. Why do I need to send more?
The Agreed Value option on the insurance policies available from Just Kampers Insurance are valid for one year, and new valuations require a new Agreed Value Request Form and a new set of photographs so we can be sure we’re reflecting the current condition of the vehicle.
Occasionally, your policy may change to a different insurer who will also want to see new forms and photographs to agree the value. We try to minimise the amount of times you need to provide documents. However, to make sure your valuation is fully valid, we must make sure the documents are up to date.
I would like to supply an independent valuation. Where can I get one of these done?
If we’ve requested an independent valuation, it should come from a trustworthy and unbiased source who’s a member of the Institute of Automotive Engineers and Assessors. The valuation document should be on official letterhead, clearly stating the provider’s name and qualifications. To find a qualified engineer near you, you can use the Institute of Automotive Engineers’ website tool. Just enter your postcode, and it’ll show you the closest options.
Alternatively, you can visit classic-car-valuations.com, where you’ll find different options based on the type of appraisal you need. Keep in mind that you’ll be responsible for covering the cost of the valuation itself. Opting for an independent valuation offers peace of mind since your vehicle will be physically inspected and assessed.
Do you accept owner's club valuations?
If you’ve previously obtained an owner’s club valuation for your vehicle, feel free to send us a copy. Our valuation team will take it into consideration as they assess your vehicle. Having more information about your vehicle’s history is always beneficial and can provide valuable insights. However, it’s important to note that we cannot guarantee that we’ll accept an owner’s club valuation for an Agreed Value.
While we acknowledge that owners clubs often possess extensive knowledge about specific vehicles, honouring an owner’s club valuation isn’t something we can promise. Our valuation process follows specific guidelines to ensure fairness and accuracy. So, while we appreciate the expertise of owner’s clubs, we will ultimately rely on our own valuation experts to determine the Agreed Value.
The valuation is less than I expected. Why is this?
Our team of experts put in a lot of effort to determine the valuation for your vehicle. They utilise various research tools and techniques to reach an accurate assessment. However, there may be situations where it’s not possible to meet your desired valuation. If this happens, we’ll provide you with a clear explanation for our decision.
If you genuinely believe that there are valid reasons to increase the valuation, we encourage you to let us know. We’re here to listen and understand your perspective. In order to assist us in reassessing your valuation, we may request that you provide supporting evidence to strengthen your claim. This evidence will help us gain a better understanding of your vehicle’s value and consider your case more effectively.