Gotta love those insurance companies!!!

Mine is exactly the same as yours. they want an independant valuation.

Which insurance company?

"personalising a car" does not increase its value"
Then tell him to give you a new 100 series with the works for stock price...

Elders accepted all my mods & accessories (some don't - Allianz for example) but the valuation was by their books. Basically I thought it about what the car was worth as I believe you're never gonna get what you spend as an evaluation.

I can understand what they are saying (but dont agree).

Mods don't increase the value. Tyres , wheels , suspension , snorkle etc , DONT increase the actual value of a vehicle.

Main stream insurers are only interested in Bare basic vehicles , your vehicle is only worth , what the basic one is. You choose to add stuff to it , thats your decision , its not of interest to insurance co's.

The only way to really do it , is to get specialised insurance , who WILL take mods etc into consideration , but of course, the downside is , they charge accordingly.

Our Patrol is with AAMI... we have it insured for pretty much it's value I would think.. I have always been upfront with them as far as what I have added to it. The only hiccup was with the fridge.. they wanted it bolted down inside the car, but I got them to ok it as long as it is chained and padlocked in... so at least we can still use the fridge slide etc and still either have the fridge in he car or out of the car without too much hassle....

at present it is at the beaters being repaired still, when we get it back I have more goodies to add to it, which I will add to the insurance list. If I have any problems with them, you better believe you'll read it here first!!!!! LOL

Well there has been SOME foward progression at least. They are prepared to insure it for up to $53,302, "Subject to the valuer agreeing with that price" Now what are the chances of that? Well surely reasonably good, geezus the damn thing has about 30k of extras on it, and a stock market value of $40,800.

Anyway, they took my money and I have 14 days to get a valuer certificate. The valuer said he'd give me the highest he can. We'll see. I''m surprised the extra 12k or so only put an extra $90 on the premium 4 mths into the year.

Anyway, I'll be sure to fill you in.

Thanks

the car is worth whats its worth...
so are the extra's/options

would this work? like specifing items on household contents insurance....
take a detailed list of all options and ask them to insure car for agreed value and all options for agreed value (make sure you have quote for all options or current ARB Catalogue?)

Heya
You can have some things added to your home and contents insurance as "specified portables", rather than your vehicle insurance. For example - I have my fridge, GPS, etc and a large proportion of my camping equipment on on my H&C insurance. That said - it obviously doesn't cover vehicle mods - but thought it a useful comment given the difficulties a previous post mentions with the fridge.

Cheers

Hey waveslave,
Went through this when i got the GQ few months ago now. I am with NRMA and fater a few phone calls I had to go down there and sit with one of their people with a list of all the extras and mods including fridge turbo right down to stereo system installed. Took almost 2 hours and argumenst inbetween. But eventually they came to the party, It wasnt until i sat down and totalled all the extras fitted to my car that i realised i had almost 19 thousnd wourth of extras at todays replacement cost. Increadable amout of money indeed. Now i know why i bought it..it had the lot !
They did say this though and take note everyone reading this ok....
.
If its bolted down and its a permanent fixture to the car ..eg Roof rack, fridge etc then its covered. But if a claim is made and the assessor finds out that whats on your list is NOT in the car (unless it was stolen ) then they can and in some cases WILL cancel the policy without a payout. You will be left high and dry for making a false decleration.
IEven though i am covered for everything added as well as the car price, I hope i never have to go through the hassles of makinga claim...what aheadache it would be. I do pay extra per month to cover the lot though and i am happy doing that.
Regards Angelo

I've been with RACV now for quite a few years and they have either an agreed value or market value option. They currently cover me for a full range of accessories (including suspension changes), under agreed value, and their rates are very good. But they only cover vehicles in Victoria.

Most things on your home contents insurance are covered away from your home but be careful as they also state they are not covered if stolen from a car. This is the case with NRMA anyway, and they all seem to have similar restrictions

Try www.dgainsurance.com.au well worth a look.

Rossco

Aw ! You Guys,

you are gagging me aren't you?

We have been through this sh i t at least a dozen times since I joined 3 yrs ago and its still the same story.

(1) I insured my Troopy plus all add ons for the past three years via OAMPS 4WD specialist brokers who demanded the obligatory valuation ($110) and insured it for everything that I wanted at $1350 per annum, anywhere in Australia at replacement value, including off road, on hill, down dale, through river etc etc.

(2) On renewing this year, the suckers (without consultation) reduced the market value to $22,000, no add ons,' no mothering' anything actually, for $ 550.00

(3) So I rang around without consultation with OAMPS and after talking to a very nice lady at GIO I now have it insured at market price plus all add ons including diff lockers, camper conversion, bull bar, winch, recovery gear etc etc for a total of $48,000 at a $1350 premium.

Yeah! I know, expensive. However it comes with the anywhere in Australia, Up/down hill, under river, dancing with Roos & Emus across mountain deal, . (Well until I try and claim on it - but will cross that hurdle if & and when I come to it.)

The theoretical story behind this deal is that SUNCORP decided on buying GIO, to return it to a 'traditional'insurance company, in that they accept what you say and if you are caught out fibbing they will 'do you'

So give them a go.

AAMI had all my other insurance until they 'rubber dicked' me a few months ago.

Regards

Ken Robinson

I too have insured with GIO. A number of companies didn't want to insure the vehicle due to the value of accessories or because it had suspension modifications even though they are legal.

GIO were not concerned about the suspension mods "as long as they are legal" and accepted every accessory and the valuation I put on each without argument ...........and I do have the invoices to back up the valuations. No valuer involved. All accessories are listed in writing and the vehicle and accessories are insured for an 'Agreed Value' both individually and collectively.

The total agreed value is $55,255 and the premium is $645.90. Very competitive on premiums, no hassles and no restrictions on where I can take the vehicle.

cheers

Larry

My son created a "High Hilux with 5 litre V8 Corvette motor" a few years back. Without a specialist's valuation, insurers would only insure to a certain % above model value. Cost would have been pretty extreme too at the high value, so he opted for insurance at the max. value they would cover without fuss. He hasn't rolled this one - so sharing the risk has been OK.

Need to be wary. I had my cruiser stolen last month and lost everything including frideg, tools, camping gear etc etc. On my policy I had listed all accesories like winch, lights, dual battery, canopy etc with a price for each. The insurance mob also gives you a market value. I thought fine I'll get marget value plus the cost of accessories (excluding the stuff in the back - i Knew that was gone) but when they paid me out they said no you only get market value. So listing all the accessories was a waste of time. I'm making sure it want happen again because I'm about 7 grand out of pocket now!!

Cheers,
Hughesy

Hi

I have a Defender with plenty of accessories and a couple of modifications. As part of the disclosure required to any insurer I have detailed all of these to the NRMA in writing. All up there was around $20,000 worth (roughly) when brand new. I have an agreed amount on my policy. This amount reflects the current market value of a 2001 Defender and the depreciated amount of the accessories.

It has never been a problem and I have never been requested to provide an independent valuation. In fact the renewal notice turned up the other day.

Cheers