Takes a few days each time, there is a £15 or so fee above the price of the insurance for them to process it. You fill out a form listing the condition of interior, exterior, tyres etc, a new price and the agreed value you'd like. You need to specify mileage and provide photos of: front back, left, right, engine bay (I send 2), interior & odometer.
If you do it quickly enough after renewal the cover never drops to market value.
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