On these classic car insurance policies, the insurance company agrees to pay out the replacement value of the vehicle in case of a total loss.
BHPian Jeroen recently shared this with other enthusiasts:
A couple of weeks ago I got a call from spanner mate and best friend Peter. He had been approached by a TV production company. They produce a program about all kinds of sustainability initiatives in Dutch society.
They wanted to make a short documentary about classic cars. Classic cars are seen as a sort of sustainability. Of course, from an emission point of view, they are nowhere as good as modern cars. But they get driven a lot less. The average annual mileage of Dutch classic cars is less than 1800 km/year. That is less than 0.2% of the total annual mileage of all Dutch cars on the road today.
So from that point of view, the impact is near zero. More importantly, these cars have lasted anywhere from 25 years and up. So very durable in terms of how long they last. Peter does professional classic car valuations. Mostly for classic car insurance. Any car that is in an accident is valued against its day value. Which, on older cars is next to nothing. It’s the original catalogue price minus all the years of depreciation.
But through an expert car valuation report, you can agree on the replacement value of your classic car. Peter, after a careful inspection, will provide you and your insurance company with such a report. It tends to be valid for three years.
The replacement value of a classic car is very different from its day-value. On these classic car policies, the insurance company agree to pay out the replacement value of the car in case of a total loss.
The script of the documentary called for Peter to run in, by chance, an old customer of his, with a classic car that needed to be valued! Enter yours truly and his 1982 Mercedes W123!
It was good fun participating and seeing how this short documentary was made. It was pretty awful weather. We managed to take almost all the shots in a short space of no rain and the odd bit of sun. A couple of shots during the “making off”! All in Dutch I’m afraid.
The final resultIt was shown last Saturday afternoon on the program “Doe maar duurzaam”.
Enjoy!
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