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Market value, it won't be that high for an old car. The slightest bingle with minor damage they will write the car off. If it's over 15 years old it'll go on a statuary wrife off in Victoria as the repairs are more than the vehicle is worth.Quote:
Originally Posted by Young Angus
Mods, they are worth nothing really. Best to get an agreed value policy.
I used GIO on my 93 Disco, cost about $300 a year for full comp but the excess is a bit high ($800 from memory), insurered for market value. RACV weren't too far off but considering I was a member the price was still more than GIO could do.
Trav
Got to be careful of that market value thing , you might be paying $300 insurance and $800 excess on a market value of say $1500. Some times it's better to cover it for third party only. Some policies will also chase the other party up to a certain value, if it was not your fault and can prove the other driver's identity. What the owner thinks his/her car is worth is often a long way off what the insurance company market values it for.Quote:
Originally Posted by dungarover
I worked with a guy who had this HZ holden wagon, the insurance wanted $1500 premium to insure it comprehensively for $1500 value!
I don't drive the Disco much (it's a weekend vehicle) so wasn't too concerned about the whole agreed value side of things but worth looking into when I have to renew next time around.
I kind of gathered the excess would be a negative but it was the cheapest and just wanted cover as I don't like driving around uninsured :)
Trav