What insurance do you use for a car that is appreciating in value?

My renewal is next week, and I have been trying to get an agreed valuation quote without much success. Apparently when you do an agreed valuation quote the insurance company will only pay the agreed value at the start of the policy, so if the car is written off 11 months later, but the value has gone up 20%, they will only pay out the amount agreed 11 months prior, which is pointless.

If the car is written off you want the insurance company to pay whatever the vehicle is worth to replace at that time, not potentially 11 months earlier.

Am I missing something here or are agreed value quotes a scam to make people think they will be getting a fair settlement?

If the car has gone up by a big chunk in a couple months you can always requote onto a new policy to reflect the increase. Not efficient cash wise but better than being out of pocket by 20% in the event of something happening.

I wouldn't say agreed value is a scam, the insurer is carrying the risk that the asset decreases in value, you carry the risk that it increases. Both parties have to be happy that the value on the policy is appropriate.

Realistically what % is a Supra going to increase in a year?

All I want is peace of mind that the insurance company will pay out what the car is worth in the event it is written off.

Spose You'll have to ring round and push for as much as you can from the start? I would make sure there is a buy back option for any write off as you are bound to be able to recoup some money on the salvage in a worse case scenario.

You would need to keep the insurer updated as to the value of the car and pay the premium accordingly.

Could be liable for admin fees, every time you do it though, depending on the insurer.

H.