A new agreed value insurance policy for modern vehicles will make haggling with insurers over claims payouts a thing of the past.
While agreed value insurance has long been common with classic cars, the owners of newer vehicles have had to settle for policies that pay out the “market value” of their vehicle in the event of a total loss.
But a new policy from Adrian Flux, the UK’s largest specialist insurance broker, provides an agreed, guaranteed value for any vehicle over 12 months old worth up to £250,000.
Cover is available on private cars, commercial vehicles, motor homes, and motorcycles via Flux’s Bikesure brand.
Gerry Bucke, general manager at Flux, said the policy would give the owners of more modern vehicles the peace of mind enjoyed by classic car enthusiasts for decades.