Agreed Value Car Insurance

Insure your car for a value you agree upfront

Agreed value car insurance pays out a fixed amount you and the insurer settle on when the policy starts, rather than a fluctuating market or retail value - useful for classic, collectable and modified cars whose worth a standard valuation may not reflect.

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Agreed Value Car Insurance

Value agreed upfront
Classics & collectables
Modified vehicles
Clarity at claim time

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Last reviewed 28 July 2026 · by the Savvy Insurance editorial team

What's covered

What agreed value cover means

Value agreed upfront

You and the insurer fix the insured amount when the policy begins, based on evidence of worth.

Classics & collectables

Suited to vintage, classic and collectable cars that market guides value inaccurately.

Modified vehicles

Reflects approved modifications and rare specifications a standard valuation may ignore.

Clarity at claim time

You know the payout figure in advance, avoiding disputes over market value after a total loss.

Why it matters

Why agreed value cover matters

Market or retail value can undervalue a classic, restored or heavily modified car.
Knowing the payout figure upfront removes uncertainty if the car is written off or stolen.
It recognises money spent on restoration, rare parts and approved modifications.
Standard 'market value' or 'retail value' policies may not suit an appreciating collectable.
You may need a valuation or photos to set and periodically review the agreed figure.

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At a glance

Value agreed upfront
Classics & collectables
Modified vehicles
Clarity at claim time

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FAQ

Agreed value car insurance questions

How is agreed value different from market or retail value?

With market or retail value, the payout is based on what the car is worth at the time of a claim, which can fall over time. Agreed value fixes the amount upfront, so you know exactly what you'd receive on a total loss. That certainty suits classics and modified cars.

What do I need to set an agreed value?

Insurers usually ask for evidence such as a professional valuation, photographs, restoration records or receipts for modifications. This supports the figure and helps at claim time. Requirements vary by insurer and car, so check what's needed and compare a few specialist options.

Does the agreed value change over time?

It stays fixed for the policy term but is often reviewed at renewal, since collectables can appreciate. Keeping the value current means you're neither under- nor over-insured. Ask how and when the figure is reviewed, and update it if you make further improvements to the car.

Is agreed value cover only for classic cars?

No. While it's popular for classics and collectables, it also suits modified vehicles, limited editions and imports whose worth standard valuations miss. If your car is unusual or has had significant money invested in it, agreed value is worth comparing against a standard policy.

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