Classic cars forum & vehicle restoration.

[moggysalloon]

I have just completed a full restoration on a 1971 Morris Minor 2 door saloon.

The car has history going back to when it was first sold in 1971 and has only completed 59134 mile from new.

Due to having four cars in the family ,I have taken out a multi car insurance with Admiral Insurance and also for the fact they said they also do classic car insurance and agreed valuation for the car.

The issue I have is that now that I have taken out the policy and submitted the agreed valuation form along with photos of the car, Admiral have declined my request for an agreed valuation of £10000 and will only offer £4500. This has been challenged twice but they won't budge and have said that this is the average price for this type of vehicle. I have argued that you can buy these cars in an un-restored state for the for this price and that the condition that the car is now in is worth a lot more.

Has any one else out there had this similar kind of problem with their insurance company and if so how did you get round it?

Any help is greatly appreciated.

[Rick]

Welcome to the forum.

£10k sounds like top dollar for a very late Minor saloon, but I'm no expert in values. I'd imagine your only hope might be to get an independent valuer to agree with your valuation, then submit that to the insurers and see what they say.

Did they agree to the £10k valuation prior to you signing on the dotted line?

RJ
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[moggysalloon]

Rick

Thanks for the response, The insurance company would only give an agreed valuation once the policy was taken out and the relevant forms completed and submitted with photos.

I agree that £10000 sounds a lot of money however the car is as new, I have also mentioned to the insurance company that Im wiling to come down a little on the valuation if they were to re-consider their offer.

I think your right in that an independent valuation mite be the way forward.

[Bitumen Boy]

Admiral might well "do" classic insurance, agreed value and so on, but they're not specialists, and I suspect this is where your problem lies. Why not try getting a quote from a really classic-friendly specialist insurer - Peter James springs instantly to mind - just for the Minor, and see what they come up with? You might be surprised. The Admiral multi-car policy might well be a good deal for your boring modern runarounds, but I suspect you'd do much better to insure the Minor seperately.