Agreed value car insurance?

[GeX]

Has anyone got any experience on having agreed value insurance on cars that aren't high end, or old classics?

I've got a 2005 Mini Cooper S Checkmate, there are less than 500 of this model left on the UK roads. There's a bit more to them than just a badge stuck it, they're a unique exterior colour (and interior) and have an LSD. It has a good option list and has been well looked after, but a common issue on the facelifted R53 Minis is that they rust out on the rear lights. The only way to fix this properly is to have the rust cut out, new metal welded in and the car resprayed. It's not cheap to do it properly. It has already had the subframes removed and powder coated as they can get bit a scabby after nearly 20 years.

Having dealt with trying to get a fair settlement for our Civic that was written off last year, I'm concerned that on a standard insurance policy, if the car was damaged then the insurer would simply look at similar aged and mileage Mini Cooper S and payout based on that. There are some pretty ropey Minis out there and I'm sure they could find a few examples that would cost less than it'd cost me to have the rust repaired properly. I don't beleive they'd care about the options list (finding a Checkmate with heated front screen, heated seats, climate, autodip mirror took some time).

When I orignally got the car, I spoke to a few more specialist insurers but the only 'limited' Mini they would insure was the John Cooper Works variant. I'm wearing of bothering to fix the rust and do other expensive preventive maintenance if it can be so easily wiped out in a minor collision.

 

[GeX]

The trouble is, the ones that will be for sale will be the crusty ones that aren't looked after - and it's those that the insurer would use for valuation. It kind of is a restored car already, it had new suspension all round, rebuilt brakes, new brake lines, new bushes, rust treated underside and powder coated subframes. None of that is service items, and none of it is anything that an insurer would consider.

I was told (a few times)

I do need to confirm we are not replacing your vehicle; you have an indemnity policy and not a replacement vehicle policy. For us to indemnify your policy we need to ensure we offer fair market value for your vehicle.

when trying to get a fair settlement on the Civic. Which tbf, annoyed me - it was a non-fault claim, and we were being left in a worse position than before the accident. An example of condition I quoted;

The panoramic roof blinds actually work. When we bought the car, most of the cars we viewed did not have functional blinds. They're expensive to fix, and so people don't bother. They were however a deal breaker for us (else what's the point of having the panoramic roof?).

With the example adverts they sent me as the basis for their valuation, one had rear quarter panel damage - and the others were not ones I'd even consider viewing due to their condition / reviews of the garages selling them!