Appraisal Survey

With most companies, an appraisal report is required if one chooses a wa- limited casco or wa-casco (All-Risk) coverage. Not every appraisal agency can be accepted by an insurance company and so each company also has its own terms and conditions.

• All companies
• Explanation of research criteria

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2. Appraiser must be affiliated with:

• Nedasco = NIVRE / VRT / FEHAC
• Turien = NIVRE / VRT/ TMV
• IAK = NIVRE + 4 photos
• GIO = Club appraisals that have existed longer than 1980
• Bovemij = NIVRE / VRT / TMV / FEHAC
• London = TMV / VRT
• Europeesche = FEHAC
• Unigarant = TMV / VRT
• ANWB = NIVRE / TMV
• KNAC = TMV / VRT
• NN = NIVRE / VRT
• Polisdirect = FEHAC
• TVM = Up to € 35,000, none, above € 35,000 FEHAC
• OVHV = Up to € 35,000, none, above € 35,000 FEHAC
• Verzekeruzelf = FEHAC
• ZLM = VRT
• ASR = Approved appraiser

3. Excluded appraisers:

• Grooters Oldtimers Valuations The Hague
• Rijnders
• Maro Appraisals
• Dol and Mandema, Dan Haag
• Panders Appraisals
• A. Prins Appraisal, Animals
• Hafkamp Projects B.V.
• The Appraiser, Wormerveer.

Appraisal

How long appraisal report valid

The appraiser usually determines the validity period of an appraisal report to be 3 years. Most insurers adopt this 3-year validity period, but they may deviate from it. For example, in the case where higher mileage or daily use is allowed, wear and tear and depreciation is more likely. The validity period will then be shortened. After the term expires, a new appraisal report should be prepared.
The validity period of the appraisal report is listed in the policy terms and/or clauses.

Fehax club valuation allowed

If the classic car driver is a member of a classic car club affiliated with the FEHAC, then with certain providers the appraisal may be performed by the club appraiser. At 50% of the providers listed in our survey, such a club appraisal is allowed.

Appraisal report required

There are insurance companies that do not require an appraisal report for (limited) hull insurance coverage. There is then a clause on the policy, that if in case of damage a valid appraisal report is present, payment is made on the basis of this appraisal value, and if that is not the case, that payment is made on the basis of the current market value. There are also insurance companies that require a valid appraisal report when taking out insurance. Incidentally, a valuation report usually has a validity period of 3 years (see point 13), but the insurer may deviate from this. For example, in the case of an old-timer fare where high mileage is allowed; wear and tear and depreciation are more likely to occur, so the insurer wants to be in possession of a new appraisal report sooner.

Appraiser affiliated with industry organization

Because a classic car is not a piece of scrap metal, but a cherished object, it is important that an independent and skilled appraiser determines the appraisal value of the classic car.
Most insurers therefore require that the appraiser who draws up the valuation report of the classic car is affiliated with a specific branch organization, which guarantees the professionalism, knowledge and skills of the appraiser in question. Only Meeus and Univé in the study do not make this requirement.
If the oldtimer driver is a member of an oldtimer club affiliated with the FEHAC, then with certain providers the appraisal may be performed by the club appraiser. At 50% of the providers listed in our survey, such a club appraisal is allowed.

The most common organizations are:
- NIVRE
Dutch Institute of Register Experts Foundation
- FEHAC
Federation of Historic Automobile and Motorcycle Clubs
- VRT
VRT Foundation - United Register of Valuers
- TMV
Federation TMV - Federation of Valuers Brokers Auctioneers in movable property

Excluded appraisers

A number of appraisers were found to be insufficiently skilled and/or to perform "excessive" appraisals. As a result, a number of companies have decided to no longer accept the reports of these appraisers. These are announced by the insurance company, so it is important that this is looked at carefully in advance. To be sure, you can always contact the insurance company or its intermediary.
It is then up to the industry association to expel such appraisers.

Minimum tax value for wa-extra/casco coverage

The reason that a certain appraisal value may be required is because the insurer wants to be sure that it is a vintage car and not just an "old car" for which the vintage rate is not intended. The insurer also wants insight into the state of maintenance and perhaps damage present in order to properly assess the risk. Because the classic car enthusiast usually wants to have/get the vehicle in optimal condition, the appraisal value will usually satisfy the insurer's demand. On the other hand, for the enthusiast the vintage car has an emotional value that is often more important than the market or appraisal value. The minimum appraisal value requirement can be zero with insurers, EUR 1250.00 but also EUR 5000.00. Incidentally, this requirement applies to WA-extra, but not to the Casco (all-risk) coverage, except for ZLM which sets a minimum appraisal value of EUR 100.00.
The maximum appraisal value at standard acceptance is around EUR 50,000.00 and if the value is higher then the insurance application is consulted with the insurance company.