How's your cover? By DAVE RICHARDS

How's your cover? By DAVE RICHARDS

Is it me? Or is the classic world more vibrant and alive than ever before? Prices for good cars seem to rise inexorably, which leads me to ask is your insurance valuation up to date? I was reminded of this after the theft of a good friend’s Porsche. He has a small collection of other delectable cars, including some Simca-Abarths and a Mercedes Gullwing.

But he’s owned the 300SL for many years, and had it insured for a scant £45,000. In Bremen Greg MacLeman and I saw a similar car for sale, up for grabs at €700,000. Which means that in the current market, his ‘insurance’ is basically worthless, apart from allowing him to drive the car on the road legally! Luckily his rare Beutler-bodied Porsche 356 was found 3 days after its theft. But this applies to all of us.

 

Especially if you are running cars still rising in value such as Minis, Jaguars, Triumph TRs, and dare we say it, Silver Shadows. All of these have been creeping up, to the extent that bargains are now rare for cars in good nick. A cherished car like the one you’ve got tucked away is probably irreplaceable at the figure you paid for it even three years ago. Which means you need to up-the-ante on your coverage and ensure that should the worst happen, at least you won’t be out of pocket.

So what action should you take? Re-evaluate your coverage by checking asking prices in our classified pages. Then inform your insurance firm. And then shop around. You’ll want next year’s cover to be the best value. 

DAVE RICHARDS

EDITOR

Latest news

Buy a Bristol 401

With classic car bounty hunters chasing up values of Sixties cars, the Fifties used to offer a bargain-filled refuge from buying fashions, perhaps best exemplified by Bristols. Now many great 1950s cars
Read more...

Project of the week: Citroen SM

Part-car, part-hyperspace time travel ship, part-Citroën DS on steroids, the SM is one of the most stylish cars ever to come out of the Seventies. Every flex of Robert Opron’s pen brought forth
Read more...