On the subject of Insurance

Here you can talk about the joy owning a Volvo 480 brings. Non-technical discussions take place here, like what is the difference between an ES and a S version.

Moderators: jifflemon, coyote1980, Rachel

Post Reply
frenchfries
Advanced 480 rookie
Posts: 561
Joined: Thu Apr 06, 2017 8:11 pm

On the subject of Insurance

Post by frenchfries » Thu May 25, 2017 2:17 pm

Hi all

It seems the insurers will reimburse you in case of an accident "based on the market value". Now, I know that our cars are worth a Million Dollars but the insurance company would take a dim view on this.

I know I paid £1400 for mine and that when I am done with it the total amount will probably be twice that but if someone was to sneeze on it I think I would get nothing.

Have you had your cars valued by a third party? Is there a way around getting the equivalent square root of nothing ?
1993 Turbo auto called Skip for the important stuff
2011 Juke 190 for everything else

User avatar
dcwalker
480 Is my middle name
Posts: 1522
Joined: Sun Sep 16, 2012 12:30 pm
Location: York

Re: On the subject of Insurance

Post by dcwalker » Thu May 25, 2017 3:34 pm

You can get classic car insurance for the 480. The problem, of course, might be whether you are using it as your daily car or as a "high days and holidays" only car.

Mine is on classic insurance, limited annual mileage of 3000 miles per year, and an agreed insurance value.

Question of shopping around, I think...

David
Current: 1994 480 GT, 1996 460 CD & 1997 440 LE with lots of optional extras & 2007 V50 SE Sport
Previous: Celebration 331 (re-homed with Richard S), Celebration 467 (returned to Martin Mc); Celebration 346 (re-homed with Alan480); Celebration 269 (scrapped abandoned project), Celebration 73 (sold on after 6 years), 1992 ES, 1988 ES - and numerous other non-480 Volvos!

frenchfries
Advanced 480 rookie
Posts: 561
Joined: Thu Apr 06, 2017 8:11 pm

Re: On the subject of Insurance

Post by frenchfries » Thu May 25, 2017 3:48 pm

Could you PM me how much you pay or which company you use?
1993 Turbo auto called Skip for the important stuff
2011 Juke 190 for everything else

User avatar
dcwalker
480 Is my middle name
Posts: 1522
Joined: Sun Sep 16, 2012 12:30 pm
Location: York

Re: On the subject of Insurance

Post by dcwalker » Thu May 25, 2017 3:51 pm

frenchfries wrote:Could you PM me how much you pay or which company you use?
Sure - PM on its way...

David
Current: 1994 480 GT, 1996 460 CD & 1997 440 LE with lots of optional extras & 2007 V50 SE Sport
Previous: Celebration 331 (re-homed with Richard S), Celebration 467 (returned to Martin Mc); Celebration 346 (re-homed with Alan480); Celebration 269 (scrapped abandoned project), Celebration 73 (sold on after 6 years), 1992 ES, 1988 ES - and numerous other non-480 Volvos!

arthuy
Advanced 480 rookie
Posts: 562
Joined: Wed Apr 20, 2016 8:02 pm

Re: On the subject of Insurance

Post by arthuy » Thu May 25, 2017 8:56 pm

It can be a worry when they value the car against the market.

I had a problem about 10years ago when they under valued a car I had written off. there were plenty similar cars on the road but mine had a rare engine. so I had to find adverts to justify a higher value. They didnt like it but had to give me the higher value eventually.

If this happened with the 480 you would struggle to find any for sale to compare. The other thing is that they reduced the payout for every 10,000 over average miles by £100.

They have also given me a higher excess on older cars.(£50 for my s60 and £150 for rover 216) the reason given is that the car is rare and more expensive to repair, even though i pointed out that they wouldnt actually repair it in the event they refused to budge.

cranna21
Can tell where the 480 was built
Posts: 313
Joined: Sat Jan 11, 2014 3:44 pm
Location: Aberdeenshire, Huntly

Re: On the subject of Insurance

Post by cranna21 » Fri May 26, 2017 1:08 pm

i am insured with greenlight insurance - a specialist insurer for motoring enthusiasts which includes modified cars ect!

i have spent far too much on my 480 and have it insured for an agreed value of £10,000 (a bit more than ive spent and no where near what i would value it in sentiment)

i have 5,000 miles per year on my policy, like for like replacement on all parts including modifications (which i have an extensive amount of...)

i'm 21 with 1 years ncb on this policy and a claim against me in 2014 and i pay between £650-700 a year (cant remember the exact amount)

i'd give them a call if you want they really are a great company to talk with over the phone, they do not do online quotes so that they can tailor a price to your needs :)
'91 480 ES 2.0l 16v 'Williams' Conversion - 212bhp/230nm
'90 940 GL 2.0l Estate
'08 XC90 D5 SE Premium

jifflemon
480 Is my middle name
Posts: 2464
Joined: Sat Dec 17, 2016 11:03 am

Re: On the subject of Insurance

Post by jifflemon » Fri May 26, 2017 1:19 pm

Got two of my cars through greenlight - no problems so far!

frenchfries
Advanced 480 rookie
Posts: 561
Joined: Thu Apr 06, 2017 8:11 pm

Re: On the subject of Insurance

Post by frenchfries » Fri May 26, 2017 2:24 pm

jifflemon wrote:Got two of my cars through greenlight - no problems so far!
:)
1993 Turbo auto called Skip for the important stuff
2011 Juke 190 for everything else

Post Reply