Insurance companies writing off classic car

[Deleted User]

Wife recently bought a 1987 mini. Special edition imported from Japan. Paid £3500 for it.

Anyway, with Aviva, changed insurance over. At the time, I made a point of saying it was worth more than normal i.e. £3500.

Some sill cow went into the back of it in the car park the other day. Not a great deal of damage but needs new boot, new corner etc.

Now Aviva are looking to write if off !!!! Somethings tells me they're not going to offer £3500.

For a start, I dont want to write it off anyway for a small amount of damage. They did mention that they could make a payment instead.

However, wont the car forever then be listed as written off and so impossible to sell in the future ???

I could wring the young girls neck who hit it to be honest. Large car parking area in front of shops and she managed to hit one of two cars there because she was on her phone at the time !!! (and we've got witnesses).

Really wish I'd phoned the police at the time and kicked up a fuss now.

Gloomendoom

Did you take out an 'agreed value' policy. Otherwise, the insurance company will just fork out the market value for an average 1987 Mini... and that isn't much.

motorguy

Gloomendoom wrote: »

Did you take out an 'agreed value' policy. Otherwise, the insurance company will just fork out the market value for an average 1987 Mini... and that isn't much.

+1

If the O/P believes it to be a classic car, then lets hope he / she has taken out the correct insurance on it.

[Deleted User]

pgilc1 wrote: »

+1

If the O/P believes it to be a classic car, then lets hope he / she has taken out the correct insurance on it.

No. It wasnt an agreed value policy. I just switched over from my other car insurance which was a standard car (market value).

I did however make this known at the time and they didnt comment otherwise. Dont suppose it matters that I've got the receipt showing how much I paid for it?

Also, since the accident wasnt my fault, totally the other parties, surely it doesnt matter what my policy says? They damaged my car and now have to make things right surely.

After all, what if I was insured third party only? The value of my car doesnt make any difference then does it? The other party or they're insurers are liable to sort it out surely.

Quentin

[quote=[Deleted User];33647583]Also, since the accident wasnt my fault, totally the other parties, surely it doesnt matter what my policy says? They damaged my car and now have to make things right surely.

After all, what if I was insured third party only? The value of my car doesnt make any difference then does it? The other party or they're insurers are liable to sort it out surely.[/QUOTE]

You can claim directly off the third party, and if they accept liability they will still be entitled to write it off if they consider repairs uneconomic.

motorguy

[quote=[Deleted User];33647583]No. It wasnt an agreed value policy. I just switched over from my other car insurance which was a standard car (market value).

I did however make this known at the time and they didnt comment otherwise. Dont suppose it matters that I've got the receipt showing how much I paid for it?

Also, since the accident wasnt my fault, totally the other parties, surely it doesnt matter what my policy says? They damaged my car and now have to make things right surely.

After all, what if I was insured third party only? The value of my car doesnt make any difference then does it? The other party or they're insurers are liable to sort it out surely.[/QUOTE]

It will be up to them to make it right in that they will opt to pay for its repair OR write the car off and give you market value for it.

I'm not totally sure how an agreed value policy would work, but presumably such a policy would be fully comp and thus pay out that agreed value. They would then presumably claim what they could back from the other party's insurance.

You're describing this car as a classic but you've opted to insure it under a regular insurance policy.

Also, i take it you told them it was a japanese import?

motorguy

Quentin wrote: »

You can claim directly off the third party, and if they accept liability they will still be entitled to write it off if they consider repairs uneconomic.

However they will write it off and pay out market value for the car, NOT the £3500 the O/P paid for the car.

[Deleted User]

Quentin wrote: »

You can claim directly off the third party, and if they accept liability they will still be entitled to write it off if they consider repairs uneconomic.

They've accepted liability - i wasnt in the car it was parked.

Hammyman

[quote=[Deleted User];discussion/2523513]Wife recently bought a 1987 mini. Special edition imported from Japan. Paid £3500 for it.

Anyway, with Aviva, changed insurance over. At the time, I made a point of saying it was worth more than normal i.e. £3500.

Some sill cow went into the back of it in the car park the other day. Not a great deal of damage but needs new boot, new corner etc.

Now Aviva are looking to write if off !!!! Somethings tells me they're not going to offer £3500.

For a start, I dont want to write it off anyway for a small amount of damage. They did mention that they could make a payment instead.

Really wish I'd phoned the police at the time and kicked up a fuss now.[/QUOTE]

That's what happens when you don't get a classic car insurance policy. If it were a classic car policy, there'd be an agreed value (requires photos and possibly a valuation) which they'd stick to. A normal policy will just give you next to nothing. I've only ever had Classic Car insurance policies on mine even if it was my only car and they're no dearer than a normal fully comp policy. Chris Knott is a good company to use.

Phoning the Police wouldn't achieve anything.

[Deleted User]

pgilc1 wrote: »

However they will write it off and pay out market value for the car, NOT the £3500 the O/P paid for the car.

How can that be fair? This would mean that it would never be worth owning a classic car just in case someone runs into the back of it !!!

[Deleted User]

Hammyman wrote: »

That's what happens when you don't get a classic car insurance policy. If it were a classic car policy, there'd be an agreed value (requires photos and possibly a valuation) which they'd stick to. A normal policy will just give you next to nothing. I've only ever had Classic Car insurance policies on mine even if it was my only car.

Phoning the Police wouldn't achieve anything.

But what if I had third party only policy - which I'm entitled to do?

If someone runs into the back of me, my policy doesnt even come into effect here.