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Insurance agreed value increase

Discussion in 'VF Holden Commodore (2013 - 2017)' started by Dirty Harry, Jul 7, 2019.

  1. Forg

    Forg Well-Known Member

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    If you can’t negotiate an agreed value of $54k, I really think you’re going to struggle to get them to up a market-value payout with the same company to $54k. Can you maybe switch to agreed-value now?
     
  2. tommy_z

    tommy_z Active Member

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    Sorry I meant that $54k was the maximum agreed value they would provide. Market value is around $50k from memory. I found neither satisfactory hence I selected the option of 4 year new car replacement as even a new Commodore VXR is more expensive than $54k. The PDS states that I can either get the market value paid to me, or a car of equivalent type to the Director. So either I ask them to get me a similar Director second hand (I’m sure there are many undriven examples for years to come as seen right now on Carsales), or I find a way to negotiate the marker value paid to me to be somewhere above the $60k mark as it should be, or at worse get me a new Commodore VXR. $54k agreed value is too ‘set in stone’ and the premium was more expensive than selecting market value and 4 year new car replacement.
     
  3. Forg

    Forg Well-Known Member

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    Ah, gotcha; ta for explaining, I didn't realise that the 4yr new-for-old was even a Thing. :)
     
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  4. Ron Burgundy

    Ron Burgundy Well-Known Member

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    Just got mine
    It was $41 000 agreed value last year and the renewal came with new agreed value of $51 000.

    Premium is up by $100
     
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  5. Mayuri Krab

    Mayuri Krab Member

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    Mine (agreed value) went up too... From $41500 to $49555

    Yearly fee went up by about $80.

    This is with RAC (WA) and I drive quite a bit, alreday clocked over 20k km in less than a year.
     
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  6. lmoengnr

    lmoengnr Well-Known Member

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    Pretty sure they only raise your 'agreed value' to justify the premium increase...
     
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  7. Ron Burgundy

    Ron Burgundy Well-Known Member

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    Fine with me. They would still have to pay the agreed value if I totalled the bastard ...
    10k extra coverage for $100 in 12 months is a fair deal I reckon.
     
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  8. abuch47

    abuch47 Active Member

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    72 per month $31k or market value RAA
     
  9. lmoengnr

    lmoengnr Well-Known Member

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    There's always a good chance you wont total it in the next 12 months.
     
  10. Ron Burgundy

    Ron Burgundy Well-Known Member

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    I hope so ;)
    By that logic why insure it at all ;)
     
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  11. Milo 6.0

    Milo 6.0 Active Member

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    Got my 2013 ssv wagon with 53km on it insured for around 45 grand from memory,inusrance company suggested it.... nearly 20 g more than I paid for it.
    Chances are slim of me or some other clown writing it off but the chance is always there.
    Havent had it for a year yet so im sure they will drop the agreed value down by at least a few grand by then.
    Pretty sure replacement for something with similar km is around 30ish.
    Vf ssv wagons are a bit thin on the ground in perth
     
  12. Forg

    Forg Well-Known Member

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    ^ Indeed … statistically speaking you're better-off not insuring.
    The gumbyment "self insures" for this reason, they've got enough money sitting around to cover the rare unexpected disaster … whereas I don't. :)
     
  13. Milo 6.0

    Milo 6.0 Active Member

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    So you don't have insurance at all and you have a spare 30-50g lying around for a replacement in case your car gets written off?
     
  14. Forg

    Forg Well-Known Member

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    No, if you lookit what I said, it was quite the opposite … :) ... I have comprehensive insurance BECAUSE I don't have a spare 30-50g lying around for a replacement in case my car got written off.
    But if I did, then it would indeed be a waste of my money insuring.
    And it's more than $50k too, what if something that couldn't be pinned on anyone else occurred which involved me smashing into a Bentley dealership?
     
  15. abuch47

    abuch47 Active Member

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    Necessary evil
     
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  16. Mayuri Krab

    Mayuri Krab Member

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    With the payout increase I could buy the same car but with much lower kms (mid 20k kms) and newer (2017).

    Where are those soccer mums with urban tanks gone...
     
  17. Forg

    Forg Well-Known Member

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    You only need to glance out the window, you’ll see one crashing into someone or something or a kid.
     
  18. 426Cuda

    426Cuda SUBLIME!

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    Just renewed mine today. Max agreed value was $75,270.
     
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