Hi all, as per the title really. Just bought an Apal speedster and was looking to see who you are using for insurance in the UK and what you actually declare the car as.....ie the v5 says 1967 beetle.
Thanks in advance.
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Loyd's of London? In US you can get a stated value policy. You just take photos maybe have inspection by insurer then state what replacement cost would be. Some policies in US limit miles drive and where to (not to work but car shows ok) and insist it be stored in a locked garage.
The difficulty with registration such as yours is that if your car is burned beyond recognition, stolen, or otherwise unavailable for inspection by your insurer after a loss, the value will be largely based on what you have it registered as: in your case a 45-year-old VW bug.
All is not lost, however. Buy a policy that has an "agreed value" component. The actual verbage may be slightly different in the UK, but the principle will be the same, i.e, you and your insurer both "agree" on the value of the car before any money changes hands. If your car is totalled, that agreed value is the amount they will pay, with no deductibles, depreciation, etc. The higher value of an agreed value policy also helps with collision damage, since a higher value for the car means that the insurer will pay more for repairs before totalling the car.
The value on an agreed value policy will likely be significantly higher than what the insurer will pay on a stated value policy. Shop around and talk to car guys/clubs in your area. They will know who the best companies are to deal with in your locale. Best of luck and let others know what you find out. We have a couple of Brit car nuts on this site.
There are new rules applying now. Some "used" to keep the title as a beetle and subsequently had historic status, i.e. cheap or no road tax. But the rules now state a substantially modified chassis requires a "new" registration,i.e. registered as a new car. My car was built in 2007 and is registered as a 2007 car but with an age related plate - our registration plates are age related. It also means that my car only has to comply with the age related date, in my case a 1970 beetle, therefore no emission controls. I do however have to pay road tax every year as per a new car until it's 30 years old or so. I have an agreed value insurance also, £27,000.
Cheers folks,
Insured on a limited mileage agreed value policy.