GU Insurance PITA

[DSPIES]

Hi folks,

So i'm in the market for a quality GU 4.2 Diesel ST wagon. Probably around a 2003’ish model with low kms (below 150k), so I recognise I’ll be paying quite a bit for the luxury.
Now, I’m getting pre-purchase insurance claims and they are just ridiculous.

For example, AAMI is asking $1073 (extras include alarm, bulbar, snorkel, roof rack) with an agreed value of 36,660. Now anyone in the market knows that while you can get the above mentioned vehicle for that price, they are super rare and wont have low kms unless you are lucky and first in the door. (most are around the 38-45 range with low kms).
<RACV were much the same>

In frustration and out of interest I got an insurance quote for a 2nd hand fj cruiser for the same purchase value (40k) and the same company will give me an agreed value of 43,300 and the insurance is $300 cheaper! WTF.

So what are people doing? Are you insuring your cars for under market value? I’m so pi’’ed off I’m thinking of switching loyalties.

(for what its worth I’m 29, male and never had a previous claim – good driving record)

Thanks in advance!

[Clunk]

The insurance on the FJ cruiser will be cheaper as its classed as a mid sized SUv. I reckon around 1k for the car and price your age seems about right

[Bigrig]

I'm 39, rating 1, no at fault claim for over 20 years, and with AAMI. The agreed value of the rig is less than what I've spent on it BUT in stock condition when I got it (paid $7500 with a crap $1500 trade on an old Hyundai) the agreed value was $9600. Paying about $470 per year for insurance premium and since I have added mods, certain ones have increased the agreed value to $10,700 plus 30% for "accessories", so $13,910 for the same premium ..

As said, I've spent bucket loads more than that, but at my choice and there was a threshold point where the insurance would have in fact covered the purchase price and 'some' mods without being out of pocket ...

It's a dicey game no doubt mate, but shop around with the quotes and sometimes certain insurance companies are after other items like house and contents at reasonable rates, and if you 'package' the car into it, they'll reduce the premium considerably.

I don't know if I know anyone however who would have absolute agreed value from their insurer for what they've actually spent on the rig (honestly, anyone?).

That premium does seem about right though for your age, truck value etc ...

Hope you stick with patrol mate and get what you're after ...

That all said, welcome aboard, and if you pick one up, make sure you throw up an intro in the introductions section and let us know about yourself and the rig.

Good luck with the hunt!!!

[nissannewby]

Maybe it has something to do with the different states as well. I have a 04 ST 4.2itd ute fully comprehensively insured with the extras its got (bullbar winch spotties etc). I'm 23 yrs of age my premium is just under 900 a yr.

[Punderhead]

Just be thankful you're not a P plater - 500 bucks a year for 3rd Party fire and theft on my GQ, only worth 4 grand.

Cheers!

[DSPIES]

So i have had a busy afternoon. quotes were for a gu 4.2 diesel, about a 2004. I made a few insurance calls today and this is what came out in the wash:

CGU and QBE would only offer agreed value of about $32,000 and QBE was a whopping $2529

Budget direct cost $1075 with agreed value around 35,000.

RACV which is NRMA cost $1653 with 35000 as agreed value.

AAMI was $1072 with agreed value of 36,660.

GIO were my favoured option costing $1131 but offered agreed value of 40,300.

All the quotes were online quotes with bulbar and a couple of other mods when the insurer asked. Annoyingly only GIO provided an agreed value over about 35000. While this is accurate for an unmodified patrol of that vintage with high kms I think a 2004 GU with low kms and a few mods is worth more.

Lastly I looked at TCIS but their online quote system was a PITA. After i buy i'll give them a call

(Hope the mods don't mind if i double post this in the insurance thread - it may be of help to people)

[Woof]

Got mine insured though TCIS as none of the others would touch me with my mods (35's with 4" lift), $613.90 (including broker fees) for $10,000

[NissanGQ4.2]

(Hope the mods don't mind if i double post this in the insurance thread - it may be of help to people)

Mods don't mind double post of useful info :) :) :)

[PattyWgnOwen]

Infinity 4x4 insurance brokers have a specific policy for modified 4x4's.

I have a 2000 td42ti auto and agreed value $45k with $3k camping gear extension for about $1200/yr. They were happy to cover my engel 57 in the price at full value.

The definitions are excellent.
No issue that accessories are worth more than car.

Very helpful.
Sydney based I think.
Underwriters are CGU I think.