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Insurance agreed value increase

Forg

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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?
 

tommy_z

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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?
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.
 

Forg

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

Ron Burgundy

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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
 

Mayuri Krab

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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.
 

lmoengnr

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

Ron Burgundy

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

abuch47

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72 per month $31k or market value RAA
 

lmoengnr

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

Milo 6.0

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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
 

Forg

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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. :)
 

Milo 6.0

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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. :)
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?
 

Forg

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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?
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?
 

Mayuri Krab

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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...
 

Forg

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Where are those soccer mums with urban tanks gone...
You only need to glance out the window, you’ll see one crashing into someone or something or a kid.
 

426Cuda

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