Seriously Modified Defender Insurance $100K cover??? Is it doable?

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Originally Posted by 101RRS

Just because you have spent all this money, it doesn't mean it is worth what you have spent - but then again maybe it is - I dont know.

You need to take the vehicle to a professional valuer that is recognised by the insurance industry and get a proper valuation. Certainly many of the mainstream insurance companies will not insure it as it is modified - with many of these companies like Allianz, as soon as you tick the modified box you will get a message that they are not prepared to insure.

Get a recognised valuation certificate and see how you go from there.

Garry

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I assume Ken is looking for agreed/replacement value not perceived/market value, we all know you generally don’t get your money back when selling but some want to be insured for replacement.


I would have thought it’d be straight forward to get agreed value acknowledging it’d probably cost a bomb.

The vehicle including purchase has had around $180K spent on it (if not more).

I know I’ll never get anywhere near that, so $100K is quite a trade off and I’ll see how I go with insurance for that amount.

Quote:

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Originally Posted by 101RRS

Just because you have spent all this money, it doesn't mean it is worth what you have spent - but then again maybe it is - I dont know.

You need to take the vehicle to a professional valuer that is recognised by the insurance industry and get a proper valuation. Certainly many of the mainstream insurance companies will not insure it as it is modified - with many of these companies like Allianz, as soon as you tick the modified box you will get a message that they are not prepared to insure.

Get a recognised valuation certificate and see how you go from there.

Garry

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Start a discussion with an insurance broker. This is the kind of work they are there for.
Then take their advice from there.
You won't get far shooting the breeze on a forum I'm afraid, as your requirements are way outside that of a standard website quote request or phone call to the insurer.

And for those that have diesels,I know Kens is a petrol.

Have a look in the fine print and make sure they don’t exclude contaminated fuel.

I couldn’t find a policy that included miss fueling and contaminated fuel,so went with one that didn’t exclude contaminated fuel,many do.

This meant a change of insurer for our own vehicles as well as the work vehicles.

Hi Mitch;

Yes, Ill contact a broker today.

I had a reply from an insurance company that brag about offering Australia’s top 4x4 insurance (not Club 4x4) and they totally ignored my specs, quoting me for a 2.4 Deisel Defender @ $50K. What is it with these idiots?

I won’t bother replying.

I hope you’re well Mitch.

Ken

Quote:

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Originally Posted by Toxic_Avenger

Start a discussion with an insurance broker. This is the kind of work they are there for.
Then take their advice from there.
You won't get far shooting the breeze on a forum I'm afraid, as your requirements are way outside that of a standard website quote request or phone call to the insurer.

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Quote:

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Originally Posted by Toxic_Avenger

Start a discussion with an insurance broker. This is the kind of work they are there for.
Then take their advice from there.
You won't get far shooting the breeze on a forum I'm afraid, as your requirements are way outside that of a standard website quote request or phone call to the insurer.

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We use brokers all the time,but once something different comes up and they hit a wall,they give up.

Then I have had to chase it myself,and sort it.

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Originally Posted by Baytown

The vehicle including purchase has had around $180K spent on it (if not more).

I know I’ll never get anywhere near that, so $100K is quite a trade off and I’ll see how I go with insurance for that amount.

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Ken,
Have you got a write up on what you have done to your Defender to spend $180K.
I have been following the engine install but what else have you done?
Mark

The insurance policy is to insure you against loss. In the case of a written off vehicle most companies regard your loss as an assessed market value usually somewhere between wholesale value and maximum retail. They assess the value and if you disagree it is "see you in court".

In your case what you have is a "hot rod" or "street machine". Few companies are prepared to insure these and those that do usually impose extra conditions and a large excess. You need to find a specialist insurer who does this. If the Red Book or Glass's Guide price is $50,000 you are going to be pushing poo uphill to get an agreed value of $100,000 let alone $180,000. Remember, money spent on modifications and/or refurbishment is the cost of a hobby not value adding.

Hi Mark;
My major items fitted to the vehicle include the following:
Bullbar
winch
driving lights
snorkel
dual batteries
alarm
Terrafirma wheels
up graded slotted brake rotors and braided lines
spare wheel carrier
long range tanks x 3
tow bar
Recaros
double din stereo and speakers
steering wheel
cargo barrier
draws
sound proofing
rough parts gull wings/boxes/tables
BP51 suspension
maxidrive shafts
ARB Lockers
Gwyn Lewis drive shafts/steering/trailing arms
Superior Engineering front arms
roof rack
Bundutop RTT
270 Deg Awning
perimeter LED lighting
interior power management
ARB dual compressor and tank
oh yeah, LS3 6.2 V8 and 6 speed automatic box
heavy duty cooling system
oil and fuel filtration and cooling
etc etc plus the cost of the vehicle.

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Originally Posted by big harold

Ken,
Have you got a write up on what you have done to your Defender to spend $180K.
I have been following the engine install but what else have you done?
Mark

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Maybe Self insure it ? no premium and save $$$ .The odds are in your favour that nothing will happen to it anyway. Honestly you could 24k gold plate any defender and put diamonds on the bonnet and leave the keys in it runnings in the middle of Mt druitt and no one would take it, they are not that sort after a car especially in Tassie . If it was an old Vk commy or Xf falcon different story. A few tips for self insurance , drive it carefully and put a tracker on it. Carry a fire exstinguisher. Nice car btw, impressive mods !