Can I insure my vintage car based on an appraisal report?

Yes, you can. We have several vintage car insurance policies on which you can insure your vintage car at appraisal value.

Appraisal report as a guide

At some rates, the vintage car must be appraised to objectively determine its current value but, in the event of a claim, payment will be made only on the basis of the current market value at the time of damage. This current market value will then be determined by a claims adjuster.

It is therefore possible that in the event of a claim, the daily value is lower than the appraised value. In this case, the damage expert will only use the appraisal report as a guide.

Benefit based on the appraisal report

When the payment is based on an appraisal report (as stipulated in Art. 7:960 BW), this is explicitly stated on the policy schedule. Usually in a separate clause

Sample clause text:

The appraised value is used to determine the value of the damage. A condition for this is that the damage occurs within 36 months after the appraisal report was drawn up and that you notify us immediately in writing or electronically of the new appraised value, so that we can adjust the sum insured.

In the event of damage to the motor vehicle, in any event, no more will ever be paid than the insured amount less the value of the remnants.

If no (valid) appraisal report is present, the damage expert will assume the (possibly lower) daily value.

Appraisal report expired and then what?

Most appraisers put in the appraisal report that the report is valid for 3 years. However insurance companies have their own validity period for each rate, which is sometimes shorter.

When the appraisal report has expired and there is damage, the company will not pay out more than the current value. It is therefore important that you keep a close eye on whether your appraisal report has expired.