Car Insurance Value Too Low (Recommendation?)

username1 on 19/07/2022 - 09:56
Last edited 19/07/2022 - 10:11

I am trying to insure a car which has recently (in the last 5 or so years) started to increase in value due to rarity.

Every insurance quote I get will only give me the automated "agreed value" which is probably 10x less than actual value. Even talking to customer service, all they do is just look on the computer generated figure and tell me the same thing.

Just hoping somebody can recommend me an insurer than can give me a custom agreed value or is able to actually manually look up the value of a car?

Thanks

Edit: Thanks for recommendations. Looks like Shannons is the way to go. Can't get a quote online but I'll try give them a call. Thanks

Automotive Car Insurance Insurance

Comments

  • Nugs on 19/07/2022 - 09:59
    +9

    Shannons
    .

  • jv on 19/07/2022 - 10:02
    +4

    Shannons

  • brendanm on 19/07/2022 - 10:04
    +4

    Shannons

  • pharkurnell on 19/07/2022 - 10:12
    +4

    Shannons too… and I've had a claim through them recently and it was handled extremely well…. Very happy to recommend.

  • pegaxs on 19/07/2022 - 10:19
    +4

    I don't think anyone has mentioned it yet, but have you tried Shannons?

  • Seraphin7 on 19/07/2022 - 10:21
    +4

    I've heard Shannons is good for this.

  • bhubb18 on 19/07/2022 - 10:22
    +3

    Shannons or Enthusiast.

  • hothed on 19/07/2022 - 10:23
    +3

    Shannons

  • bobbified on 19/07/2022 - 10:25
    +6

    You can't just come here and say that your car is worth at least 10x the normal insurer valuation and not actually tell us what it is!

    • Quantumcat on 19/07/2022 - 10:33
      +1

      If it were me, when I found that out I would be selling quick smart before the value could go down again lol

      • bobbified on 19/07/2022 - 10:55
        +2

        But it's like shares - the value could continue to go up too! haha

        (I'm somewhat skeptical that a car can go up 10x the value in the last 5 years though. I'm wondering if it's a case of someone seeing the car 'advertised' somewhere for a huge value, but still unsold. People overvalue their cars all the time and list it at that value but it never gets sold at anywhere near that price).

        With OP's username, I have to admit that I thought for a second it was unistudent1 with his high yield investment!

        • username1 on 19/07/2022 - 11:08

          Sorry the car value isn't crazy high (approx. $40k), but the insurance only want to value the car at $4k.

          • iDroid on 19/07/2022 - 11:53
            +2

            @username1: I gotta know this car type…

            Don't keep us hanging….

            We gotta know!

  • Broke-Ken on 19/07/2022 - 10:26

    Looks like you got an unanimous answer, but I'm now curious as to what car you got, and how it's become a rarity.

    • username1 on 19/07/2022 - 11:11
      +5

      Car is Nissan 200sx

      • Broke-Ken on 19/07/2022 - 11:42

        an S-chassis, fair enough. I'm surprised you aren't already with Shannons. Have a talk with them, they will be able to give you a proper evaluation.

        90s JDM market is going bonkers atm.

      • bobbified on 19/07/2022 - 12:29

        aah, the S15! Brings back lots of memories from my later high school days! At the time, I chose a WRX over it for the four-door practicality though!
        If only I was able to have both! haha

  • apple2016 on 19/07/2022 - 10:34
    +1

    "agreed value" which is probably 10x less than actual value.

    Now i am curious to know what make/model the car is.

    • websterp on 19/07/2022 - 10:38
      +3

      recently (in the last 5 or so years) started to increase in value due to rarity

      Well, let me guess…Holden Barina TK

    • pegaxs on 19/07/2022 - 10:41
      +1

      100% over inflated self valuation meaning that it is either a Falcon XR6, a VE Commodore SV something, or some shitty Euro Trashwagen with a letter and the word "Line" after it.

      • djkelly69 on 19/07/2022 - 10:46
        +1

        1000% apparently.

    • username1 on 19/07/2022 - 11:14
      +6

      Nissan 200sx.

      Don't shoot the messenger. I'm not sure how much they actually sell for, but most listings on car sales are over $40k

      • JimB on 19/07/2022 - 11:40
        +1

        Listed price does not equal the value.

        It shits me when a News Limited publishes a story about how the new LC300 is worth $250k just because some dreamer has listed their LC300 for $250k.

        But you are correct 200sx (S15?) have gone up dramatically.

        • bhubb18 on 20/07/2022 - 22:39

          S15s are moving at 40k, especially if they're tidy.
          Lots of crashed P plate spec ones, so a tidy one holds value.

          • JimB on 21/07/2022 - 09:47
            +1

            @bhubb18: I passed buying my friends Spec R about 10 years ago.

            1 owner 80k on the clock. $11k.

            • bhubb18 on 21/07/2022 - 09:56
              +1

              @JimB: Back in the day of 15k R32 GTRs and 50k R34 V specs haha!

              • JimB on 21/07/2022 - 10:48

                @bhubb18: I should have bought the R32 GTR… was always a dream car of mine growing up.

  • quarkz on 19/07/2022 - 11:46

    Also try Enthusiast. They were extremely reasonable with value on my classic and JDM car.

  • Austaurean on 19/07/2022 - 13:18

    Once upon a time i had a Modified XF Falcon with a 351 Cleveland and other mods. NRMA insured it, but each year i had to take it to them so they could sight the car and an assessor would provide a more realistic insurance value over book value.

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