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Location:
Adelaide
Registered:
September 2003
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Insurance
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Wed, 17 March 2004 13:19
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OK, my AE86 has just undergone some significant mods, and have been looking at comprehensive insurance...
However as the origional purchase price was only 2250, the insurance company i was looking at going with (the popular one for modded cars...) wont agree to a value above $4000
Is there a way to make them see the light and that my car is worth at least 8k, or do i have to sell it to a friend and buy it back for 8,000  ????
Ta
Leighton
(on a side note... if your car is written off, what happens to it... (do you get it.. does the insurance company get it...???)
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Location:
Gawler, SA
Registered:
August 2003
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Re: Insurance
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Wed, 17 March 2004 13:23
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Depends what youve done but you will probably be looking at like 2k-3k per year for you agreed value. Theyll have to decide its worth 8k which might be a little hard considering the 'market' value.
If you write your car off, what happens to it depends on your insurance policy. Most companies will keep it to recover some of their costs. Although you can purchase the wreck off them for the 'market' value. Look for a company which gives you the wreck not you have to buy it.
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Location:
Colac, Victoria
Registered:
May 2002
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Re: Insurance
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Thu, 18 March 2004 00:39
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have you tried shannons ?
if your under 21 youll have issues getting comprehensive insurance though..
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Location:
Gawler, SA
Registered:
August 2003
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Re: Insurance
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Thu, 18 March 2004 00:42
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If you under 19 they wont touch you at all. Im gonna have to wait another year 
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Location:
Canberra
Registered:
August 2002
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Re: Insurance
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Thu, 18 March 2004 00:44
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just cars wanted to charge me 7k for comprehensive insurance on a JZA70 Aerotop.
naturally i told them to shove it.
and im 21
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I supported Toymods
Location:
Australia
Registered:
November 2003
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Re: Insurance
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Thu, 18 March 2004 00:47
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If its a good insurance company, they will have an inspection place.
Take you car there, and get them to go over the whole car and write done what you have done (providing its all legal and engineered) .
They should then insure it for what you want.
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Location:
Gawler, SA
Registered:
August 2003
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Re: Insurance
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Thu, 18 March 2004 00:48
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Just cars wanted close to $3500 a year on my sprinter which initially cost me $1500. Wonder what it would be now that Ive spend a fair bit more.
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I supported Toymods
Location:
sydney.au
Registered:
August 2002
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Re: Insurance
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Thu, 18 March 2004 00:53
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insurance is bs in this country
unless your 30 and drive a v6 commo berlina
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I supported Toymods
Location:
Australia
Registered:
November 2003
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Re: Insurance
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Thu, 18 March 2004 00:56
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| ae86drift wrote on Thu, 18 March 2004 08:53 |
insurance is bs in this country
unless your 30 and drive a v6 commo berlina
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No, insurance is BS if you live over east, nice and cheap here in Perth.
800 per year, for $7000 car, 19 years old
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Location:
Gawler, SA
Registered:
August 2003
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Re: Insurance
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Thu, 18 March 2004 00:58
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| CrUZsida wrote on Thu, 18 March 2004 11:26 |
| ae86drift wrote on Thu, 18 March 2004 08:53 |
insurance is bs in this country
unless your 30 and drive a v6 commo berlina
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No, insurance is BS if you live over east, nice and cheap here in Perth.
800 per year, for $7000 car, 19 years old
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The company your with cover SA as well? 
At the moment Im only on 3rd party fire and theft which is like $180 a year.
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I supported Toymods
Location:
Australia
Registered:
November 2003
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Re: Insurance
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Thu, 18 March 2004 01:02
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I'm with RAC.
But that RAC WA.
I think RAC varies hugely from state to state
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Location:
Gawler, SA
Registered:
August 2003
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Re: Insurance
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Thu, 18 March 2004 01:06
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Yeh Im with the RAA for 3rdpp but they still wont go any higher on the agreed value. They will only offer me $2500 comprehensive but they also keep the wreck if it goes that way so Im not really interested in that policy.
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Location:
Adelaide, SA
Registered:
May 2002
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Re: Insurance
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Thu, 18 March 2004 02:54
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RAA is pathetic with comprehensive insurance.
The problem boils down to the fact that although you've spent heaps of money on your car, and think the market value is $8k, the Red Book or Glass's Guide say it isn't. So to an insurance company it's not. This is downside of owning a modified car, you have to carry lots of risk and why most modified car owners are under-insured and hence uptight about security etc. Sure, some companies will insure you, but they'll charge a big premium for the risk they're carrying.
Although, if you're over 25, Rating 1 and only 1 speeding fine and no accidents in your entire life, you can get comprehensive insurance for a 1jz modifed ma70 for $700 pa. . However even this is insured a couple of grand below "market" or "real" value though.
If you crash it, your always going to be f*cked, and you'll never get back half the money you've spent. Plus, if you crash it on a "hills run" you'll have been speeding/driving without due car and be f*cked anyway.
You just have to accept the risk of driving a modifed car in a spirited fashion. If you can't, then don't drive a modified car.
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