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

Yes, you can. We have various oldtimer insurances on which you can insure your oldtimer at valuation value.

Valuation report as a guideline

With some rates, the old-timer must be valued in order to objectively determine its current value, but the payment in the event of damage will only be made on the basis of the current value at the time of damage. This current value will then be determined by a damage expert.

It is therefore possible that, in the event of damage, the current value is lower than the appraised value. In this case, the damage expert will only use the valuation report as a guideline.

Payment on the basis of the valuation report

If the payment is based on a valuation report (as stipulated in Art. 7:960 of the Civil Code), this is explicitly stated on the policy schedule. Usually in a separate clause

Example clause text:

In case of damage assessment, the value appraised before the damage is used to determine the value of the damage. A condition for this is that the damage occurs within 36 months after drafting the appraisal report and that you inform 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, compensation will never exceed the insured amount minus the value of the remainder.

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

Valuation report expired, and then what?

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

When the valuation report has expired and there is a 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 valuation report has expired.