insurance and agreed value.

We lost our 80 series to an accident and we were insured with RACV at the time.

I have to say that once we waded through the assesor crap it was plain sailing and we got back more than what we paid for it.

But the point here is do your research first so you know what you will be getting before you buy (if you can) and if they change the next year then change insurers they hate that.

My insurance company tried to payout market value on my Telstar even though the policy was agreed.

They stated due to a computer error, upon last renewal the car should have been devalued so they tried to pay $4,300 instead of $7,500. I also had a seperate policy on the accessories on the vehicle ($2,500). They tried to not pay the accessories policy stating that in case of total loss, the accessories policy was negated by the vehicle payout.

3 letters later with the final advising that I would contact the Insurance Ombudsman, Media and alike, a cheque arrived 3 days later for the full amount.

I have absolutely no hesitation that if I had to claim in an accident, it will not go smoothly. Its the nature of dealing with insurance companies.

For the very reason that insurance companies will try to devalue your car at claim time if market value - I go agreed. CGU have agreed my D2 Td5 at $23000 (their wish), I paid $18K.

Insurance companies modus operendi or golden rule is--- Maximise income- minimise outgoings. Its that simple:wasntme:

Quote:

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Originally Posted by Signal1

I go agreed. CGU have agreed my D2 Td5 at $23000 (their wish), I paid $18K.

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may i ask what sort of premium you pay per year
every company i try to get agreed value thru try to jack up my anual premium or excess to comphensate

Quote:

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Originally Posted by SSmith

may i ask what sort of premium you pay per year
every company i try to get agreed value thru try to jack up my anual premium or excess to comphensate

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My annual premium with CGU for my '00 D2 Td5 Auto is $558.10. This isn't helped by me being a 29 yo male, once 30, it'll drop a bit i hope. Also, I pay monthly at no extra cost.

Main thing to know though is that this covers my wife & I only, if I wanted a cover all types of drivers then it would be $747.13.

Quote:

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Originally Posted by Signal1

My annual premium with CGU for my '00 D2 Td5 Auto is $558.10. This isn't helped by me being a 29 yo male, once 30, it'll drop a bit i hope. Also, I pay monthly at no extra cost.

Main thing to know though is that this covers my wife & I only, if I wanted a cover all types of drivers then it would be $747.13.

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thanks,
food for thought
im up for an insurance renewal in july, tho i should look at about $1000 :cry:
i turn 25 in july :cool: