Agreed Value - Insurance

[rayDC2R]

Hello all, I'm just curious to know what your insurance company's agreed value is for your car. More specifically, for any DC2R owners.
It's 2015, and I checked online and a website says private sellers is between $7000-9000. But of course when you search for DC2R in carsales, you probably have owners selling theirs for higher.
I know the DC2R is now an old car, and I value it higher than what the market does, but I'm just wondering if the agreed value from my insurance company is fair. They do seem to have it higher than what the market value online says though. But I was hoping for a higher agreed value, and I've tried in the past but they don't want to "agree" with me on my value of my car...

So what's are your agreed values with your insurance companies?

[keyman]

I don't own a DC2R but in relation to market value, most insurance companies will work off the what's on Redbook and Redbook gets its data from the road authorities (Vicroads for Victoria, RTA for NSW, etc).

The market value for most cars are generally lower than the real values on Carsales because most sellers enter into an agreement with the buyer to quote a lower sale price on the transfer papers to lessen the cost of stamp duty when transferring the vehicle.

[jv-st]

I don't own a DC2R but in relation to market value, most insurance companies will work off the what's on Redbook and Redbook gets its data from the road authorities (Vicroads for Victoria, RTA for NSW, etc).

The market value for most cars are generally lower than the real values on Carsales because most sellers enter into an agreement with the buyer to quote a lower sale price on the transfer papers to lessen the cost of stamp duty when transferring the vehicle.

Eek! I feel uncomfortable knowing that :/ Insurance on my DC2R is under my dad's name since I still can do it through him, and it turns out he put it for 'market value'. That's like $5,100 - $7,000 if referencing the private price guide. This thread interests me as well though, will be changing to agreed value when it finishes up this year!

[tinkerbell]

my '98 VTiR is agreed @ $15'700 through Shannons

(it helps that I hold multiple state championship titles with it though...)

((and if your insurance company doesn't insist on seeing your car before 'agreeing' on the value, maybe reconsider your insurer...))

[rayDC2R]

I'm with Shannons! They've never asked to see my car, although it's only got bolt ons.

Is an aftermarket ecu "legal" with Shannons? Would something like that raise my agreed value?

What about dash cams? Would they discount the premium?

[tinkerbell]

I'm with Shannons! They've never asked to see my car, although it's only got bolt ons.

what's your agreed value?

Is an aftermarket ecu "legal" with Shannons? Would something like that raise my agreed value?

'agreed value' is defined in the PDS - you should read it!!!

https://www.shannons.com.au/library/...urance_PDS.pdf

'agreed value' is sumarised as:

We agree the value of your car with you and take into consideration the care you have given it and any improvements or modifications you have made.

What about dash cams? Would they discount the premium?

doubt it.

[kaze]

my agreed value atm is 12k. :L but i got a super cheap deal on the insurance itself (im under 25) via "real insurance". but the best quote I got was from "just car" offering me 15k.

[KING]

Maximum agreed value with either NRMA or JustCar is $5330 for a DC2R. LOL

[jv-st]

Maximum agreed value with either NRMA or JustCar is $5330 for a DC2R. LOL

Is that over the phone or via the online quote system ?

[chaumeh]

Give Lumleys Special Vehicles a go over the phone (lots of people have got good results).

[yellowdc2r]

Just did a Quick quote on just car, over 25 years, few added extras like immobilizer, alarm etc rest is stock, agreed value of $7,410 for around $700-$800 per annum. COMPREHENSIVE - did this on 24/11/2015. A few weeks ago though, i did around 8 online quotes from all different companies - real insurance, QBE (best agreed value just over $10,000 but around $1100 per annum), AAMI (we couldn't agree on a good value for car if written off), SGIC (average price for car and average price for insurance) , YOUI (very annoying called me about 7 times kept promising that their market value is what i was asking for over $10,000 for my car, but he couldn't prove it), Bingle (under market value), Budget (aged 30 years and over), Iselect (can't insurer me for some reason), Allianz (over $1900, what a joke)
Thus far only QBE and SGIC have been reasonable....like its got to a point where im considering 3rd party fire and theft.....for like $300 a year.

[totti]

Just did a Quick quote on just car, over 25 years, few added extras like immobilizer, alarm etc rest is stock, agreed value of $7,410 for around $700-$800 per annum. COMPREHENSIVE - did this on 24/11/2015. A few weeks ago though, i did around 8 online quotes from all different companies - real insurance, QBE (best agreed value just over $10,000 but around $1100 per annum), AAMI (we couldn't agree on a good value for car if written off), SGIC (average price for car and average price for insurance) , YOUI (very annoying called me about 7 times kept promising that their market value is what i was asking for over $10,000 for my car, but he couldn't prove it), Bingle (under market value), Budget (aged 30 years and over), Iselect (can't insurer me for some reason), Allianz (over $1900, what a joke)
Thus far only QBE and SGIC have been reasonable....like its got to a point where im considering 3rd party fire and theft.....for like $300 a year.

You are calling all the wrong companies. My DC2R was covered for $15k by Shannons, Lumley's, Famous, Enthusiast etc when I was doing the ring around for quotes. Don't bother with online quotes

[yellowdc2r]

how old are you? and how much do you pay per annum for Full comp? and how long ago did you insure it? Will call a few of them now...thanks for the heads up.

[yellowdc2r]

Yeah Shannons was really good $10,000 agreed value and $830 per annum.......Lumley did even better - Agreed value of $10,00 and $699.11 per annnum. thanks everyone!!!

[Setanta]

I've said this before but Shannons is getting dodgy to the point where I'm going elsewhere when this insurance finishes unless they fix their depreciation. In 5 years they dropped me from the initial 20K down to 12K and told me they were being generous. Refused to look at it. By comparison they insured my '90 318is E30 for 9K and dropped it to 8.5 on renewal. As nice as my E30 is and as much as it's a sought after car now (M3 far > Alpina > 325is > 318is far > rest), a mint DC2R stands well above it.

I used to have a lot of time for Shannons, but they aren't what they once were.