Insurance....merged Topic....

[Terence05]

24 years old new 2012 XR6T Sedan. $95 p/m with RAC. $450 excess. Been a member with them for 7 years now so I've got the top lifetime no claim bonus. Looked at other places but were way to expensive ay. Allianz was a joke wouldn't even give me a quote.

[viper01]

I had some time on my hands recently so I decided to contact some insurance companies for comprehensive insurance quotes. I own a highly modded xr6turbo (base car $20k, mods $20k, EVERY factory option). I'm 60 yo, 65% ncb, no claims or convictions, only driver, vehicle garaged. I spoke to around 14 companies, including the larger ones like shannons, justcars, gio, nrma, aami, etc. I quickly learned that insurer definitions would mould all transactions, as follows.

market value: determined by vehicle sale prices with details available through, for example, redbook. insurers can increase or decrease this amount at will.
agreed value: insurers provide a price range that must be adhered to.
factory options: insurers are not interested.
replacement value: insurers are not interested.

naively, I asked myself the question "how much do I want to insure my car for? well, if the car was a write-off, it would cost at least $40k to replace. so, at least $40k". after all, if my house burnt down I would receive the agreed replacement value in full. no no no not the same for cars bleeted the insurers, we'll only insure your car for 50% its replacement value. across insurers, the range was between 41% and 52%, WITH ONE NOTEABLE EXCEPTION.

onepath - a company of anz is now the proud insurer of my vehicle for 75% its replacement value, I kid you not, FOR A LOWER PREMIUM THAN ANY OTHER INSURER POLLED. factory options and mods were welcomed and included in the decision to insure. I won't pretend, it was hard work getting to this point, but the gains are worthwhile. (disclaimer: I have never before been insured by onepath or anz and am not and never have been affiliated with either entity in any regard.)

moral of the story? don't get caught in an insurer's web of lies relating to its various and arbitrary definitions of "value". instead, focus on replacement value as the goal. hope this might help some others.

Edited 14/02/13 12:05 PM by viper01

[plug]

Hello everyone, newbie here.

I ordered a new FG XR6T a while back and I will have it next month. Today I went onto compare the market website to see what was the cheapest, well I nearly shat my pants. About ten of them would not quote me and the only two that did quote me offered me a policy of...........wait for it.................. $7500!!!

Are they having a laugh? I made a very stupid mistake last September, I got caught drinking and driving and got 7 months off the road. It was my first charge. This happened in Perth. Im 24 and Irish, I came over last june and got caught a few months later. Like a boss clown..... :russian:

Im due to get my licence back on the 22nd of April and will have the car ready for that moment. Also note I have 1 year on P's and 2 years on a full licence(all Irish) with 3 years no claims bonus. Can I transfer my no claims to an Australian company? any body willing to shed some light on this? Also what is the best company for situations like this?

Thanks in advance

[PSI O6T]

hot tip for ya!!!

ring shannons and tell them you only drive the car a few times a month ,mine went from $1200 down to $800 a year. the guy on the phone recommended it as they don't check the klms.....

oh and if you have any other cars ,put them on it too ,it works out even cheaper,also good discounts on green slips if your insured with them.

[turboBA]

Hello all again.

Ive looked for this on the forums for a while but haven't seen anything on it. so simple question will solve all

I'm about to drop a few thou' on my BA turbo, amongst the mods will be extractors, and turbo back exhaust. I want an external wastegate, but due to emission standards, here apparently illegal.

So... Say I get one anyway.. and *knock on wood* I had an accident and had to claim on insurance. Even though an external wastegate has nothing to do with safety, and road worthiness of the vehicle, could they potentially reject my claim due to an illegal part? and if this is the case, my BOV (I've heard illegal in WA also?) is also a reason for my insurance company to void the claim? I've heard mixed opinions on this so thought I'd ask some more trustworthy folk.

Thanks in advance

Callum

[Buf-Phoon]

An on the ball assessor could do you if he wanted.if it insured as stock. Technically a turbo back

zorst is illegal

All my mods are in B&W on my insurance policy> Had a stack in a 300+rwkw car

Back better than new. Sold years ago now of course

[Kosij]

Extractors on a turbo 6 yeah?

[ratter]

for an accurate answer, ask your insurance company

[ms700]

Extractors on a turbo 6 yeah?

could be a custom manifold ie 6boost, because he is planning on running a external gate.

[JETURBO]

your on gate