Insurance Policies :)

[tinkerbell]

Man you guys with the DC5S and Luxury can get an agreed value so high ! Makes me jealous.

i thought agreed value is what you tell them?

didn't you do the application yourself online?

[teee94]

i thought agreed value is what you tell them?

didn't you do the application yourself online?

Nopee, they consider 2001 DC5R as just some ordinary car as the they don't have the "Type R Tax."
I guess another reason why they are so cheap.
I could only get 14,075 agreed maximum.

[tinkerbell]

I could only get 14,075 agreed maximum.

ah right, yes, that makes sense, i though you hadnt selected the amount - but you had...

[wongy]

My agreed value dropped on my 2001 dc5R this year to around 12k mark, very sad, called up and they said, either your insurance goes up and your agreed value stays the same, or bit cheaper insurance and we decrease agreed value, went something like that, forgot =[ can barely ever win, sons of bitches

[eLtrix]

So... I just called up Shannons (I am turning 21 this year) and just got insured with them under my name at $1800 p/a. Agreed valued of $20000 and all mods. I think this was pretty solid!! A lot better than Just car fk yeah.

[Parvez]

Everyone, I work in insurance. Coles is backed by Wesfarmer's & Wesfarmer's buys their insurance from an international insurer in the UK which is why their's is so cheap. Keep in mind that all these new insurers are only cheap because they're buying their insurance from an international source & selling it in Australia. Right now, the AUD isn't as bad so they're making their profit. But when you lodge a claim, it will be really annoying because it'll be a long process having to contact the insurer in the UK. As opposed to insuring with an Aussie insurer such as NRMA, AAMI, GIO, RAC/RACQ/RACV.. You're claim will be processed much quicker because the insurer is based in Australia.

About the mods, Coles will ONLY cover it if it's road legal & if your car is road legal with the modification installed. For instance, a cai kit that isn't boxed in or covered is a defect which makes your car not road legal hence, the insurer can possibly knock back the claim. This rule also applies for NRMA, AAMI, GIO & other insurers (as far as I'm aware, don't quiet me please). Although, insurers such as progressive insurance & budget don't cover mods at all (please check on this, last time I checked at work they didn't cover).

As for the agreed value on integra's, civic's, s2000's & preludes.. An agreed value can only be taken up by a max of 30% of it's market value if it's a general insurer insuring the car such as NRMA, AAMI, GIO, RACV/RACQ/RAC. Such as the DC5R/S & DC2R; the market value on a DC5R is between $10k-$13k as of yesterday's figures. Why? Well they're about a 10-11 year old vehicle with a high demand in the car scene. Higher demand results in more dc5r owners which results in more incidents happening which also results in more claims being lodged AND the value of the car going down. Hence why integra's market value isn't as high as it is on the actual streets. Same thing with the EP3R, FN2R & other honda's.

If you're after a high agreed value to cover all your mods, best insurer to go for is Just Car Insurance or Shannon's. They specialize in insuring modified vehicles & they can insure your mods no doubt! AND Just Car is owned by AAMI (Aussie insurer= better claims experience), Shannon's is owned by an Aussie company as well (not 100% sure who!).

So here's my spill on car insurance, I can write up way more but I'm more than happy to answer questions so go ahead!

P.S. Sorry for the essay, I hope you guys don't mind!

[eLtrix]

^ Great little informative read!!

[PENUT]

So... I just called up Shannons (I am turning 21 this year) and just got insured with them under my name at $1800 p/a. Agreed valued of $20000 and all mods. I think this was pretty solid!! A lot better than Just car fk yeah.

What did you say to have them agree to insure you being 20yo?

Is the 1800pa with standard excess? Pretty good!

[knobosaurus]

Yeah I got my quote rejected from shannons because im under 25

[Kin]

What did you say to have them agree to insure you being 20yo?

Is the 1800pa with standard excess? Pretty good!

Shannons is a fixed $550 excess. Cannot change it.

[eLtrix]

What did you say to have them agree to insure you being 20yo?

Is the 1800pa with standard excess? Pretty good!

I just said I was a club enthusiast looking to track and belong to clubitr and the guy on the phone i spoke to knew about the forum and was really cool about it. I may of got lucky, actually spoke to the guy a bit about dc5's since he was looking to buy one himself! Maybe luck or not but glad I'm with shannons now.

The excess is $550 standard +$400 being under 25.

Yeah I got my quote rejected from shannons because im under 25

Sucky!! Try again!! I rkn i got a killer deal being 20 and only 1800 premium.

Shannons is a fixed $550 excess. Cannot change it.

In my case it was +$400 being under 25 though!

[Kin]

oh yeah.. but i meant you couldnt adjust excess to drop premium with shannons

[Parvez]

That's a good deal for an under 25 with a premium of $1800!

[pbk1776]

back when I still own my DC5R

Car: DC5R
Insurer: NRMA
Price: $1600 p/a
Insurance Type: Comprehensive mods included
Insured under: Myself
Agreed Value: $19,000

it may sound cheap - however I have 2 cars, home and home content, road side membership with NRMA

[eLtrix]

oh yeah.. but i meant you couldnt adjust excess to drop premium with shannons

Oh yes! You can't change the excess amount to adjust premium!

That's a good deal for an under 25 with a premium of $1800!

Hell yeah! Was stoked!