4wd Insurance

Submitted: Thursday, Apr 15, 2010 at 10:16
ThreadID: 77728 Views:3089 Replies:9 FollowUps:2
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So I have recently collected my Troopy after having a 3rd door installed (see Blog 1784) I'm currently insured thru AAMI but they will not increase the agreed value above $21600. How let me tell you this vehicle being a 2000 model 1hz It's replacement value I estimate at $28-30000.

The burning question is who do you insure your precious and loved vehicle with? and do they have agreed value policies, so that if it was ever stolen that you would be able to purchase a like replacement with the payout amount? ie value over and above what the Glass's reference book says...Glass's seem to think that because a vehicle is 10 or more years old, that it must be a heap of junk full of rust, hence their low estimation

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Reply By: Member - Tour Boy ( Bundy QLD) - Thursday, Apr 15, 2010 at 10:58

Thursday, Apr 15, 2010 at 10:58
DGA will insure it for whatever you want on an agreed policy, but you will need to have a valuer value it.

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AnswerID: 412993

Reply By: The Landy - Thursday, Apr 15, 2010 at 11:02

Thursday, Apr 15, 2010 at 11:02

Best to talk to an insurance broker, TCIS is the one I use, and get them to try and place your requirements with an insurance company dealing in specialised requirements.

I had a similar problem with ‘The Landy’ as guidebook valuation for a standard Defender 130 (1995) was around $5-8K at the time. I rebuilt the whole vehicle in 2006 and set it up for touring at a cost substantially in excess of this.

I obtained a valuation from Pickles Auctions and essentially I nominated a valuation which was fair and reasonable and was based on the total cost, adjusted by taking out the labour costs. Pickles agreed and issued a valuation to the insurance company.

What I think you and others need to be realistic about is that you will most likely never be able to cover the full cost of accessories, or modification work done, and you will usually need to ‘underwrite’ some of those costs through a lower agreed valuation (versus total cost).

Mind you the cost of insuring ‘The Landy’ is fairly high when you compare it to later model vehicles with higher agreed valuations, such is the nuance of going down a customise route with older vehicles.
Good luck with it....
AnswerID: 412994

Reply By: The Rambler( W.A.) - Thursday, Apr 15, 2010 at 11:56

Thursday, Apr 15, 2010 at 11:56
This may give you a comparrison.I have a 2001 Troopy which is insured with RAC for an agreed value of $27200 and my premium is $526 per annum.
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Reply By: Ozhumvee - Thursday, Apr 15, 2010 at 12:19

Thursday, Apr 15, 2010 at 12:19
Another little "trick" that the insurance companies pull with an Agreed Value policy is that they quietly revert it to Market Value either at the first or second renewal ie; 12 or 24 months after the initial valuation. If you want to continue with an Agreed Value policy you will usually have to have the vehicle revalued every two years.
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AnswerID: 413004

Follow Up By: The Landy - Thursday, Apr 15, 2010 at 12:55

Thursday, Apr 15, 2010 at 12:55
Most, if not all 'agreed' valuation policies are adjusted lower at each renewal to reflect depreciation. If you wanted a figure substantially differen to the one they are willing to offer than you would most likely need to support it with a valuation certificate....

I'm not sure that is a trick they pull.....
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Reply By: Fab72 - Thursday, Apr 15, 2010 at 13:04

Thursday, Apr 15, 2010 at 13:04
Have you tried Shannons? They do enthusiasts vehicles and are way cheaper than the main stream mob.
AnswerID: 413008

Follow Up By: Member - Christopher P (NSW) - Friday, Apr 16, 2010 at 00:38

Friday, Apr 16, 2010 at 00:38
AAMI own shannons
FollowupID: 683130

Reply By: Member - Trouper (NSW) - Thursday, Apr 15, 2010 at 14:43

Thursday, Apr 15, 2010 at 14:43
Yeah thanks all I agree with everyone on this, it's just a bit fustrating. I'll keep shopping around

AnswerID: 413016

Reply By: Member - Toyocrusa (NSW) - Thursday, Apr 15, 2010 at 20:37

Thursday, Apr 15, 2010 at 20:37
Hi Jeff. I have an 04 Prado and a 2000 VS Commodore ute insured with Shannons. They initially gave me a very good agreed value around 2.5 years ago. It has reduced a bit over the last two renewals but is still above market value. The ute was a special low mileage V8 that I found and purchased. I then put performance brakes, VX wheels and tyres and LPG. They gave me very generous agreed value and then allowed the cost of the modifications to be added to it. It also has reduced over the last 2.5 years but is still way above market value also. Their policy has an extensive cover and was better than my old ins. company. Haven't had to claim with either company so can't compare that. Shannons also allow PBTM at no extra cost which is excellent. Hope that helps. Bob.

AnswerID: 413064

Reply By: Teraa - Thursday, Apr 15, 2010 at 22:07

Thursday, Apr 15, 2010 at 22:07
I got a very boring sell me insurance call from commonwealth bank but they did say I could have my own insured amount but you would however probably pay for it.
A bad AAMI story my son had a accident clearly other driver fault it was a right off they towed it away in the days following they couldn't find the car so he could get his gear out. It had sat in the rain in a yard so all his gear was ruined and some one had ripped off all his recovery gear AAMI took no responsibilty.

RAA did the best value for our 2007 troope.
AnswerID: 413074

Reply By: Member - Graham H (QLD) - Friday, Apr 16, 2010 at 13:21

Friday, Apr 16, 2010 at 13:21
Try Affinity Insurance Brokers 1300 655 850

I have my 100ser and $10000 worth of extra insured with them also my Caravan and all my contents for both in the van and the car or outside

They were $369 cheaper than CIL for van insurance

AnswerID: 413142

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