Definitive Insurance Requirements List

[cunning plan]

Boring topic, however, there are usually new threads appearing on here asking which insurer to be covered by fairly often, followed by helpful replies of some companies to try, however it has made me wonder if we all know what makes good insurance cover and what to look for on the policy documents. :?

Also, with all the money and time people spend on their buses, it makes sense to have them protected as much as reasonably possible.

So, I thought we could have a discussion about it with the aim of producing a definitive list of requirements that will help anyone looking for insurance cover as they will know what to ask for and why.

I'll make a start:

[Essential Coverage]

1. Agreed Value
Should something happen, you will want a pre-determined amount payable for your vehicle, no 'finger in the air / computer says no' rubbish.

2. Salvage Retention
I believe this means that you have the option of buying back the vehicle so you can use it for parts or attempt to rebuild it, depending on condition.

3. Comprehensive Cover
Fairly standard, covers everything about the vehicle, after excess.



[Optionals]

A. European Cover
If you travel to Europe to tour around, shows and camping etc, you will need to make sure you are fully covered.



[Points to Note]

A1. Keep control of vehicle after Accident
I remember reading during the 'VZi golden years' that, IF possible, you should keep control of the vehicle after an incident as once it is taken to the insurer's compound, it is more difficult to secure the salvage retention etc. < I have no idea if this is correct, I am just going by vague memory of a post I read years ago, but if anyone knows for certain, it would be interesting to discuss.


Please add to the list or discuss, once we have a big list that we are all happy with, I will consolidate it into this post as a definitive list.

:sign0023:

 

[Bluesnailman]

Hi

Not sure if i have anything meaningful to add, but

Good practice?
defacto rating of 5 might be a good thing....
go with a someone with a reputation rather than save £10 or two?

Extras that may be useful...
breakdown cover may be included (as RAC cover isn't exactly cheep). Mine has UK and European breakdown cover included so that might be a idea for those travelling a bit further.

 

[cunning plan]

All comments welcomed arty0021:

 

[chad]

Would it help if people could put down the loopholes / small print conditions that they've come across?

For example the policy might say, in the small print, that if you don't have an up to date fire extinguisher they will not pay out on a fire claim.

 

[cunning plan]

Would it help if people could put down the loopholes / small print conditions that they've come across?

Yes!

For example the policy might say, in the small print, that if you don't have an up to date fire extinguisher they will not pay out on a fire claim.

When you say, 'might say', have you actually seen this?

 

[chad]

Yes - my agreed value states that I have to have a fire extinguisher.

I'll check on the exact wording as the date/efficiency etc.when I have time.

 

[cunning plan]

Yes - my agreed value states that I have to have a fire extinguisher.

I'll check on the exact wording as the date/efficiency etc.when I have time.

I think most people with classic vehicles would want to carry a fire extinguisher anyway, but I did not know it could / would be a requirement! :shock:

I wonder how many other people didn't know, which is the point of this thread, so thanks for sharing. arty0021:

 

[Ands1]

No1. Yes keep your vehicle after an accident. I travelled home with mine on a recovery truck. You hold all the cards in a claim if your vehicle is locked up on your property.
No2. Don't insure with Adrian Flux (I'm not out to tarnish their reputation, I speak from experience)

 

[Steve B]

The Fire extinguisher requirement comes under endorsements and excesses.

If a camper, likely to be required - just a small standard in-cab one.

It’ll be listed, but not all policies require it.


'68 Single Cab
'71 Danbury

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