A standard policy values a restored car at what a used car of that age is worth.
Agreed-value cover for classic, collector and restored vehicles — the value is fixed in writing when the policy is written, rather than argued about after the loss.
Tell us the situation.
A licensed human replies the same business day — not an auto-responder, and not five producers calling at once. We shop it across our carriers and tell you if the policy you already have is the right one.
We use this to quote and service your insurance, and we do not sell it or pass it to lead networks. Privacy policy.
What classic and collector car insurance businesses actually need.
Agreed value
A figure set and documented up front, paid in full at a total loss.
Without it — Actual cash value on a 1967 car is a book figure that ignores every dollar of the restoration.
Spare parts and tools
The parts inventory, which on a restoration project is often substantial.
Without it — Parts stored for a build are contents at best and excluded at worst.
Cover during restoration
Rising value as the work progresses, rather than a fixed figure set at purchase.
Without it — A three-year build is insured at the value of the shell you started with.
What classic and collector car insurance operators ask us.
How do I establish the agreed value?
Photographs, receipts and a valuation. For a car under about $100,000 most classic carriers accept an owner’s statement supported by recent comparable sales and a good photo set — all four corners, engine bay, interior, undercarriage. Above that, or for anything unusual, they will want an appraisal from a recognised appraiser. Keep the restoration receipts: they are what turns "I think it is worth this" into a documented figure, and they are also how you raise the agreed value at renewal as the market moves.
What are the usage restrictions?
That is the trade-off that makes the price low. Classic policies typically require the car to be garaged in a locked, enclosed structure, exclude daily commuting, and either cap the annual mileage or limit use to shows, club events and pleasure driving. Some carriers have relaxed the mileage caps considerably in recent years. Read the restriction carefully before you accept the price — using the car outside it is not a technicality, it is the basis on which a claim gets declined.