Insurance R33

[r32-25t]

I’ve seen an evo that was insured with them get a full respray after it was keyed 

[Dose Pipe Sutututu]

On 28/07/2021 at 12:55 PM, r32-25t said:

I’ve seen an evo that was insured with them get a full respray after it was keyed 

fair enough..

Just worried that I'm paying all this money and it's just a scam! One of my mates fought and fought with Just Cars to pay him out when his car got hailed on.

Was insured for an agreed value, however they kept on insisting to pay him out the price he paid for the car according to the transfer papers.

What's the point of agreed value then? Anyhow they eventually paid him after he got the ombudsmen involved.

[r32-25t]

On 28/07/2021 at 1:37 PM, Dose Pipe Sutututu said:

fair enough..

Just worried that I'm paying all this money and it's just a scam! One of my mates fought and fought with Just Cars to pay him out when his car got hailed on.

Was insured for an agreed value, however they kept on insisting to pay him out the price he paid for the car according to the transfer papers.

What's the point of agreed value then? Anyhow they eventually paid him after he got the ombudsmen involved.

I completely understand, it’s the same reason I haven’t made the jump 

[SKYMAGGOT]

This is the problem with these cars now, I know a few people that did get paid out but not what the car was worth so after high premiums & high excess it's a losing situation.

I could only get an insured value of 35k but payout is on market value or whichever is less so I'm sure they'll fudge the piss out of if anything happens, meanwhile they'll take the premiums & 3.5k excess

[The Bogan]

I don't know about old Skylines but my 2017 86 was insured comprehensive with Comminsurance, when it was written off in early 2020 the insurance guy said they would pay market value

Market value at the time was between 38-40k for my make and model, according to prices on cars advertised and from what they lend to customers buying typical cars, they went halfway and I got 39k for it

They said it didn't matter that I only paid 31k for it originally, they said to sell it I could have got between 38-40k for its condition.......pre smashing into a jersey barrier

Red book at the time valued it between 30-35k

The 39k didn't cover what I spent in mods, but it was much better than I expected 

Maybe I was just lucky

Red book currenty have my VX SS between 5-7k, I did talk to Comminsurance about how much my car is actually worth, they stated that they would need to look at what the cars in typical condition to mine are selling for at the time, when I questioned the red book prices they said they don't rely on red book as it is so out of date with current trends that they cannot use it for estimates 

I would definitely ask your insurance company what they class as market value if that is the way you go

[tridentt150v]

Ok contacted Enthusiasts online on Tuesday....so far no reply.....not too enthusiastic 🤣

I'll give them till Monday then try again.

[admS15]

On 29/07/2021 at 2:50 PM, tridentt150v said:

Ok contacted Enthusiasts online on Tuesday....so far no reply.....not too enthusiastic 🤣

I'll give them till Monday then try again.

Better off just calling them.

[tridentt150v]

OK, looks like I have insurance at level 3 for $855...agreed value of $40K with Enthusiasts.  

All they required was a heap of photo's and my mod list [which I have always kept in a .docx file anyway].

Not sure what level 1 would be, I was given level 3 cos I only had 'bomb' insurance [haven't had any comprehensive for over 30 years], so no 'no claim bonus'.  I guess I will get level 1 after a few years, so the price should eventually come down.

 

[Bart Japan]

So recently decided to stop being lazy and increase my value from $23k (about the cost of a replacement front quater panel) to a market replacement price. RACVs VVC insurance would only come up to $45k they say and the rate was around $1000pa for that.

Shannons came in at $2700pa for $85k

Enthusiast came in at $2000pa for $85k

 

It looks like this is the price of doing business...

[GTSBoy]

On 8/26/2021 at 8:55 AM, Bart Japan said:

It looks like this is the price of doing business...

Yes. After years of these things' values settling and consequent decreasing interest from general or specific thieves, the stupid increase in values has driven a correseponding increase in risk of them being stolen. Double whammy in insurance terms. And there's actually more risk now of them getting driven backwards into trees because of the number of them that are in "new" hands. That may not apply to any one of us (of course any one of us could still reverse one off the road at speed) but we all get treated as if it could.