Hi, I have built a 1981 V50 special and am looking for classic insurance for it (largely because it normally offers an agreed value for the bike should you need to replace it or write it off). Inevitably, the investment in the build is significantly more than the book value for an '81 V50 by several thousand! Does anyone know if MGCGB or anyone else will do ‘classic’ valuations?
Chris
Hi Chris, From personal experience I can only tell you of one company that insured a “classic” bike that I wanted to get on the road … And, many others that just didn’t want to know … The problem I encountered, was that as soon as I said “classic” … they all informed me, that they would only entertain me, if the bike was housed / kept / garaged, in a “brick”- building … That was before we talked about an “agreed value” … In the end, I found Footman James … Only because I drive past their HQ once a week … They were great to deal with … I just have to keep the bike under the stairs …!! As we all know, some classics seem to appreciate in value … At my last renewal, another £1500 on its agreed value, cost me a further £9 … A paltry sum … I hope this helps … Regards, Tony
Thanks Tony, I have had other recommendations for Footman James. I had no problem insuring it through IAM (Cornmarket) with an Ageas Classic Insurance, but they want to value the bike themselves - and why would they give me a reasonable price? I would therefore like an ‘independent’ value to negotiate with.
Footman James now, Carole Nash before. Both agreed value.
I got Moto Muzzi to do the valuation and produce a certificate for me.
Thanks, very useful. Chris