Insurance Fully insured for $2500 GET F%^$ED

[aussieghostrider]

My vn is in Excellent cond original engine etc had respray, new suspension and so on just hitting 190,000km's now and NRMA will only give $2500 if written off or stolen ..I Been with NRMA for 30 + years gold member etc

Do you think they might re-evaluate on that or am I wasting my breath.

When today in local paper same car sold for $4500

doesnt seem fair .......

Shouldnt they go by how in good condition the car is and km's on clock etc
and how its original engine,diff,trans etc..

not just casue its 16 years old ..


Maybe GIO is better option with there you choose the value of car ....

Anyone agree ?

[PaRaDoX]

man Vn's arnt worth much, RACV (same as NRMA) wanted to pay me out $2900 for my calais, i told them to stick it, they decided to fix the $3500 damage insted because i wasnt taking such a LOW payout

[vy_storm]

You can always go agreed value (if they offer it), but your premium will cost more........

[Mr_Slim]

AAMI and Just Cars aren't bad (same underwriters)

AAMI offered $5500 and Just Cars $5000 for my Calais

[VNCalais98K]

market value for my car through CGU was $5800 earlier this year for an 88 VN Calais.
If you go agreed value, then you could go 10% more than that, or $6,380.

Dont know about the commodore... i could probably look it up... i work at CGU and sitting in front of the computer at work right now.. haha.. meh, too lazy.

[VNCalais98K]

Edit:
1990 Commodore V6 Excecutive 4sp Auto Sedan
$3700

Which means you can go for an agreed value of $4070.

(current as at 2:17PM 15/12/06)

[Warooda]

My advice, find a broker and let them run around and find you the right value for your vehicle. You might pay a little more but you will get a better policy.

[aussieghostrider]

I spoke to them and for an extra $80 they will cover it to $3500 for the next 12 months but probably will have to talk to them each year on each policy from now on...

its due in late december to renew and its $370

if want it covered for $3500 it will be an extra $80 on that ..

does that seem fair ?

Im thinking over paying the extra $80 waht you all think ?

[jules]

there's no obligation for an insurance company to pay any specific amount for your car if it's stolen/written off.

from their point of view, the more you want paid out, the higher premium they'll be asking to cover it.

it matters not one bit to them whether the car's made out of solid gold, as long as they can cover pay outs with premiums and it leaves them a profit.

so it's perfectly reasonable for them to ask extra money for higher agreed value, as it is for you to shop elsewhere if they won't offer a good deal.

[greenfoam]

My VP 5 liter is insured at $3500, it costs me $360ish? for full insurance I don't think I could really replace it for that price but oh well that's all the say it's worth. The Lexcen is valued at much more and cost heaps less to insure and it's a pile of crap compared the the VP:P.

I don't think I could do $3500 worth of damage to the VP without killing myself so I think I'll just get 3rd party next time, then I would get to keep the car if I stack it and just stick the driveline in a $500 VN

[holden007]

My VR which is resprayed and excellent condition, got $5135 from NRMA. To get $5500 I had to pay $20 more a month to get it, which is not worth it.

My car was normally 3rd party, but because I resprayed and put wheels, I decided to fully insure it. I will be shopping around more next year for insurance, probably with agreed value.