Post by RichardF on Jul 23, 2006 13:13:01 GMT
A tale of woe that may help others avoid the pitfall I now find myself in.
Due to my ignorance of these matters, I was under the illusion that My "agreed value" certificate dated Oct 2004 on my 1969 Riley Elf (now written off due to the rear being shunted by someone) was current at all times or until a newer one was issued. This is obviuosly not so (I also know this is in print at the base of the cert.). I relied on my classic car insurance broker for all information and advice as they are the experts and I am the lay person. In essence then, I find that they have been somewhat remiss in sending me yearly valuation forms to complete and hence do not have an agreed value with the underwriters.
I have since checked my P5b insurance documents and thankfully have a current "agreed value" certificate. I also now know to chase this at each and every insurance renewal.
I am out of pocket but by how much I am yet to find out when they make the settlement offer; no doubt we will be poles apart!
Richard
Southampton
Due to my ignorance of these matters, I was under the illusion that My "agreed value" certificate dated Oct 2004 on my 1969 Riley Elf (now written off due to the rear being shunted by someone) was current at all times or until a newer one was issued. This is obviuosly not so (I also know this is in print at the base of the cert.). I relied on my classic car insurance broker for all information and advice as they are the experts and I am the lay person. In essence then, I find that they have been somewhat remiss in sending me yearly valuation forms to complete and hence do not have an agreed value with the underwriters.
I have since checked my P5b insurance documents and thankfully have a current "agreed value" certificate. I also now know to chase this at each and every insurance renewal.
I am out of pocket but by how much I am yet to find out when they make the settlement offer; no doubt we will be poles apart!
Richard
Southampton
