New Car Insurance - Insurance Lower than The Purchase Price

Question for the OZB experts.

I've purchased a new electric car. The 'maximum value' I can insure it for with several of the insurance companies is around $10k less than the purchase price. This is because I've ticked a couple of the extra's boxes and added a towbar. Is this normal? I would expect to be able to raise the agreed value to the purchase price?

Comments

  • have you ticked the 'options' box in the insurance application?

    • None there, tried AAMI and Allianz

  • +3

    Since it's a new car, use the insurers that have the new-for-old replacement feature. If your car gets written off within the first 2 years (or whatever they specify), they'll replace it with a new one so you're not out of pocket.

    Here's a list (there may be other insurers that aren't on this list too): https://www.finder.com.au/new-car-replacement-insurance

    • This is a great tip, this is what I will do!

  • -2

    ^^ THIS

  • what exact extras did you tick?

    • ludicrous mode?
      .

  • Good luck

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