Insured Amount

[C4a0s]

hi all

just wondering... do u have comprehensive insurance/insured your GTR for a certain amount? if so how much is your GTR insured for and how much are u paying a month/year for it?

[GTR-N1]

On any car of great worth, I believe that it should be insured comprehensively, rather than at market value. A GT-R will be such a car.

On a car worth less than $10,000 but above $4,000, I might be tempted to insure it at market value - but maybe not.

If the car is worth less than $4,000 I might only pay for third party property insurance.

Sum Insured/Premium ratio depends on too many variables.

[ZRBE]

Well I have a 93 R32 GTS-T coupe. Insured for $11,500 (most I could get it insured for)

I'm 21, lost my liscence once before and I'm paying $866 a year.

With JustCar Insurance.

Hope this gives you a rough outline..

Edited July 1, 2013 by Zrobe

[C4a0s]

On any car of great worth, I believe that it should be insured comprehensively, rather than at market value. A GT-R will be such a car.

On a car worth less than $10,000 but above $4,000, I might be tempted to insure it at market value - but maybe not.

If the car is worth less than $4,000 I might only pay for third party property insurance.

Sum Insured/Premium ratio depends on too many variables.

so comprehensive insurance would be insuring it at an agreed amount?

how much did u insure your car for Terry?

[C4a0s]

Well I have a 93 R32 GTS-T coupe. Insured for $11,500 (most I could get it insured for)

I'm 21, lost my liscence once before and I'm paying $866 a year.

With JustCar Insurance.

Hope this gives you a rough outline..

yeah... thanks mate

[niZmO_Man]

Full comp agreed value $15k (dropped from $17k, thanks NRMA).

[C4a0s]

how much is that setting u back nizmo_man?

[niZmO_Man]

>$1,500 under my dad's name. $2k excess. Can't remember exactly how much.

Will be switching next year.

[GTR-N1]

so comprehensive insurance would be insuring it at an agreed amount?

how much did u insure your car for Terry?

Yes, I should have said Comprehensive Agreed Value.

Sorry.

[Cherry Racer]

Agreed value can be a bit of a personal question for some, me included.

I could be wrong but the rarer and more valuable the car, the less likely people are to disclose.

Feel free to prove me wrong.

[Truffles]

I have my R32 GTR insured at an agreed value of 19k through justcar for about $900 a year. 22 year old rating one with a perfect history.

[niZmO_Man]

I have my R32 GTR insured at an agreed value of 19k through justcar for about $900 a year. 22 year old rating one with a perfect history.

Which state?

[C4a0s]

Agreed value can be a bit of a personal question for some, me included.

I could be wrong but the rarer and more valuable the car, the less likely people are to disclose.

Feel free to prove me wrong.

oh... ok

no worries then. was just checking out to see how "insured value" relates to "annual premium"

[Cherry Racer]

Generally speaking the greater the agreed value, the higher premium.

In saying that, the bulk of the premium often relates to the type of car (GTR=high risk), age of driver and suburb its garaged. Suburbs can make a pretty big difference.

Insurers will also increase/decrease premiums based on their experience as well as the types of risk they want to insure.

Years ago nrma jacked up my premium on a 200sx from $2.5K to over $4K. No change at my end. I went in to talk to them and the lady said that instead of saying no they will sometimes increase premiums significantly for cars they don't wish to insure.

I went elsewhere.

Edited July 3, 2013 by Cherry Racer

[Truffles]

Which state?

Queensland. It was with slight excess adjust, but not much.

Edit: Area is garaged in is classed extremely low risk as well.

Edited July 3, 2013 by Truffles

[C4a0s]

ok maybe i should rephrase...

if your car is rare and valuable, are u able to insure it accordingly to how much u paid for it...mods and all? or will the insurance company tell u how much its worth?

[Truffles]

ok maybe i should rephrase...

if your car is rare and valuable, are u able to insure it accordingly to how much u paid for it...mods and all? or will the insurance company tell u how much its worth?

Heavily depends on the company offering the policy. The majority of mainstream companies will probably exclude highly modified cars, let alone insure them for an inflated sum.

[SoulScene]

My 34 GTT is insured for $15,000 with Justcar, It is costing me like $2500 a year! Them amazing P Plates put my price up so badly haha

[C4a0s]

Heavily depends on the company offering the policy. The majority of mainstream companies will probably exclude highly modified cars, let alone insure them for an inflated sum.

think i came across a company that specializes in insuring jap imports, cant rem name though... anyone knows abt it?

[Truffles]

think i came across a company that specializes in insuring jap imports, cant rem name though... anyone knows abt it?

A lot of the younger generation (myself included) tend to insure with just car insurance, if that's who you're thinking of.

Shannons and a few others I can't name off the top of my head offer decent insurance too (In terms of recognizing import, rare or collectable cars and modifications) but unless you're 25 years or older they won't cover you.