Just Car Attempting To Drop Sum Insured

[Aggroman]

Ok well end of the month is insurance renewel time.. whoopie!

Anyways last year car was insured full comp for 18K, Just got my letter today for renewel and they have under agreed value 16K..

Well I dont agree and considering the market is still at the 17-18K mark private sale I don't wanna pay BS excess for 16K.

Especially with all the stuff done to the car since purchase.

exhaust, new coilover suspension, GTR front bar.

Anyways my question is, can i ring them up and get it back up to the 17500-18000 mark? I havnt added the suspension to my policy yet as I have just got it.

GIO dont wanna insure grey imports.

Famous want 3500 with a excess as big as justcar.

cant do shannons cause im under 25..

Who else is there?

Any help would be great as I hate insurance companies.. Had full comp for going on 2.5 years and still a rating 6 which doesnt seem right either.

Thanks

David

[evil_weevil]

Agreed value means what ever is on your policy certificate is what the insurer will agree to pay you out on

(minus any XS if at falult or penalty claim)

Modern cars will always depreciate no matter how much you spend on them

for a non turbo, i think they on the money with the 16k - I mean check the cars for sale section and see how low the values they are going for!

spending money on mods to your taste generally doesnt mean your car is worth more - to you yes as you have invested money into it.

Yes give them a call, whats the worst, they'll say no! You'll never know if you dont ask

rating 6?

worst case, when you started they may have put you on a 0 ncb...so 2 yuears full comp - assuming you have had nil at fault or penalty claims - you would be on rating 3 by now.

Give them a call to discuss, I would, as I said, whats the worst that can happen?

Cheers,

Chris

[OnAhigh]

call them up and add the new mods to policy, it might actually bump it up a tad without increasing the policy but only upto a certain amount. I had the same problem car was insured for 13k was gonna drop to 12.5k added new mods and it bumped it to 14K without paying extra. But if i add more mods to the policy now it premium will go up a tad.

[TKR]

try aliance .. and go for agreed value u may pay little more but worth it cause market value can drop when something may happen to ur car and ur stuck at crappy market price

[R34Liner]

ok, I have a non turbo R34 GT 1998 just like you - i have full comp with just car - market value pushing 15k - insured agreed value 20k

what you do is you go onto there online quote page on their website and you fill that out, when they ask you to put in purchase price put in whatever you want it to be covered for, then you fiddle around with your XS and what have you untill your happy ( e.g. i put the maximum XS to lower my premium), you ring up just car and ask them what the hell is going on blah blah blah because there online quote is always better then your current policy (that's how they attract more customers ) give them the online quote number and hay presto you are a level 4 rated driver with an agreed value 5k above the market value of your car(which covers your XS, and some, when/if you have an accident god forbid...) and i dont feel bad about this one little bit.

i have never been court for speeding

never had an accident on the road

and no other incidents that would result in effecting my insurance and i am paying $1000 premium with a $3000 XS, I'm on my green p's and this is my 2rd year with just car, my 3rd starts in jan.

stick with just car, my short experience with them has been trouble free, and they sh!t on all the other insurance companies if your under 25 and own a grey import

BTW it helps greatly if you are already a policy holder so that you can be all angry that there online quote is better then your current policy when you entered all the same info as your current policy, they will give you some BS story why its like that and then they will bump you down some rating to compensate...that's what happened for me

Good lucky mate, PM if you have any other questions

[oweban]

Odd, I got comp insurance with Shannons when I was 24... And had a bit of an accident a few days after I turned 25 (dammit) so excess was only 500.

I must just have sweettalked them though

[skins]

Odd, I got comp insurance with Shannons when I was 24... And had a bit of an accident a few days after I turned 25 (dammit) so excess was only 500.

I must just have sweettalked them though

You cetainly must have turned on the charm. I'm 33 and my excess is $1000. Mine's insured for $16200 but they did say it will go down every year. Depreaciation apparently

[oweban]

I was with JustCar until I decided I was sick of a 1700 vehicle excess, plus age, plus standard. Managed to get insurance with Shannons (2600ish per year for 16500 I think), at maximum noclaim bonus (even though I hadn't had max no-claim with anyone for the 3 years they wanted AND I'd had an accident. I had it as a purchased option, "protection" with JC), and yeah. Was 900 excess, now down to 500 that I'm 25.

Bam.

[GTR-N1]

David:- When you've not been happy with an insurance company's estimate of "Sum Insured", you can morally and legally get around it as follows:-

#1 You have been insured with 'x'

#2 When your next period comes up, you ring around (as you have already) and get competitive quotes & conditions from 'y' & 'z'

#3 'y' & 'z' will often ask if your car is already insured and for how much?

#4 You quote that it is currently insured for $18K (& yaddayadda excess) and can they match that?

#5 If you change insurance companies from year to year this way, you can keep your "sum insured" pumped up to an optimum.

The downside is that actuaries in sinsurance companies look at the statistics of how many claims have been made on that particular kind of car and adjust accordingly!

[Yo-Yo]

my insurance is up soon

I tried ringing around, Gio don't do custom care anymore

Shannons told me to go to Just car (but give them a call when I turn 25)

Wouldn't touch Famous by other people I know who used em

funny, I got Just cars to increase the agreed value without affecting my premium

right now they are the only *viable* option for someone my age and my choice of car

[Aggroman]

Threw in my Exhaust and suspension which put sum insured back up to where I wanted..

Cost an extra $100 in premium but who cares.

Thanks for all the input everyone.

Im finding Justcar easy to talk to which is building my confidence in them.

[R34Liner]

Good to hear dude

[Timmi]

Ok well end of the month is insurance renewel time.. whoopie!

Anyways last year car was insured full comp for 18K, Just got my letter today for renewel and they have under agreed value 16K..

Well I dont agree and considering the market is still at the 17-18K mark private sale I don't wanna pay BS excess for 16K.

Especially with all the stuff done to the car since purchase.

exhaust, new coilover suspension, GTR front bar.

Anyways my question is, can i ring them up and get it back up to the 17500-18000 mark? I havnt added the suspension to my policy yet as I have just got it.

GIO dont wanna insure grey imports.

Famous want 3500 with a excess as big as justcar.

cant do shannons cause im under 25..

Who else is there?

Any help would be great as I hate insurance companies.. Had full comp for going on 2.5 years and still a rating 6 which doesnt seem right either.

Thanks

David

2 years driving should be 35% NCD if you had no claims

you can try NRMA insurance now... they can do under 25 with imports but are quite expensive unless you bump up your excess... and both their agreed or market value includes all mods as long as is (RTA approved and legal) and you can chose your own repairer as well..

the reason why Just Cars is way cheaper cause have a standard 1500 car excess on top of your normal excess

try 2k excess with nrma... prob come out around the same price...

Edited October 2, 2009 by Timmi

[oweban]

i hear blowjobs work too

[R34Liner]

i hear blowjobs work too

LOL

[evil_weevil]

timmi

majority of insurers dont have 35% ncb

it goes

00

25

45

55

65

P

Terry,

Even if you have your car insured for X amount, and then shop around and tell XYZ insurer your car is covered for Z amount, the original insurer still doesnt have to go "oh no worries, if they offered u that, we will"

Wont work like that with most companies, they'll noirmally stick to their first offered value, unless something really went wrong at the policy review stages.

Good job agroman on getting it done, as said, if you didnt ring you wouldnt have known!

[GTR-N1]

Terry,

Even if you have your car insured for X amount, and then shop around and tell XYZ insurer your car is covered for Z amount, the original insurer still doesnt have to go "oh no worries, if they offered u that, we will"

Wont work like that with most companies, they'll noirmally stick to their first offered value, unless something really went wrong at the policy review stages.

Good job agroman on getting it done, as said, if you didnt ring you wouldnt have known!

Nah,

My reference to 'x' 'y' & 'z' were that they are different brands of insurance companies - not different sums insured.

In other words, David is insured with Just Car ie 'x'

Another post referred to Alliance which could be 'y'

Another post referred to Famous or Shannons etc etc.

Anyway, just go over my post again & I hope it makes better sense.

Cheers T

[evil_weevil]

Yep, I re read it mate!!

that can be done! but with his age and car, agroman is really only limited to...2 insurers I think?

Justcars and LSV - from what I have heard, famous is not writing new business?

[Yo-Yo]

Yep, I re read it mate!!

that can be done! but with his age and car, agroman is really only limited to...2 insurers I think?

Justcars and LSV - from what I have heard, famous is not writing new business?

LSV told me they don't do modern cars when I called up