Rising values produce traditional vehicle insurance coverage issues

The rising value of traditional vehicles is leaving owners dangerously underinsured, according to the British insurance coverage Brokers’ association (BIBA).
Analysis by the historic Automobile group shows that the values of some traditional vehicles have risen substantially, yet owners aren’t updating their insurance. It means that if they requirement to make a insurance claim they’d only get a fraction of the car’s genuine cost.
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The issue isn’t just confined to the ‘blue chip’ classics, like Ferraris or Jaguars, either, with more humble designs such as Ford’s Escorts likewise rising in value. 
Best traditional vehicles to buy as investments

Adrian Flux insurance coverage services – one of the largest expert traditional vehicle brokers in the UK – has written to all its policy holders about the problem of insufficient cover. It discovered that a few of the traditional vehicles on its books had almost doubled in value since policies began.
One owner, Darren Campbell, from Surrey, bought his traditional 1970 Porsche 911S almost 20 years ago. It had been insured for £45,000 for the past few years, however it’s now worth more than £80,000. Darren said: “If you’ve had it for as long as I have, it’s simple to take your eye off the ball.”

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