the expertise makes it possible to insure it at its fair value

Your classic car, you pamper it. Eventually, you had it restored at great expense. Of course, it is insured, most often with all-accidents coverage (i.e. all-risks), even if you don’t drive it a lot.

But, in the event of an accident, do you know that you will be compensated according to the value set by an expert on the day of the loss, minus the deductible. This expert will decide, depending on the value he assigns to the vehicle, if it is economically repairable or if it will end up being scrapped if the amount of the repairs exceeds the value attributed to the car. That’s why it’s best to keep the work invoices and photos of your vehicle. But expertise is an asset.

The interest of the agreed value

The automobile expert is a preferred intermediary for insurers; it does not exercise its activity solely in the event of a claim. In the case of a purchase or a sale, he can determine the value of a vehicle; the right price depending on the condition of the car. He can also intervene to determine, at the moment he appraises the vehicle, its mechanical condition, the bodywork, depending on the collection market.

The value established by the expert is called “agreed value”. This will serve as a reference, for your insurer, for the calculation of your contribution (theft, fire, climatic events, natural disasters and all-accident damage) but also for a possible claim.

Two conditions are mandatory to carry out a quality expertise: a test of the vehicle to validate its behavior and a check of the underbody on a lift or a pit.

Expertise sometimes required

Depending on your insurer, you may or may not need to carry out an expert assessment. It is an operation to be done when you buy, before insuring, or after major work or a complete restoration. The insurer determines the threshold.

Thus, at AMV, expertise is only mandatory from €50,000. Retro insurance on demand from €30,000 and €35,000 at Mascotte, but expertise is recommended even before €30,000, especially in the current context of rising prices for classic cars, whether old or Youngtimers .

This expertise is to be carried out every two or three years depending on the insurer in order to maintain the approved value.

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