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General => General Discussion => Topic started by: alnjan on March 20, 2022, 02:45:54 PM

Title: Insurance - Premium and Agreed Value
Post by: alnjan on March 20, 2022, 02:45:54 PM
Just received my Insurance for the 93 80 Series Landcruiser.

This year's Premium is $912.
Last year's Premium was $882.

Just a bit of an increase so I thought I would check the agreed value and see how much it has decreased this year.

Last year's agreed value : $16,950
This year's agreed value : $24,250


Not sure how my 93 80 Series Cruiser just jumped that much in value but I might have to hang onto it for a bit longer.
Title: Re: Insurance - Premium and Agreed Value
Post by: Steffo1 on March 20, 2022, 03:17:58 PM
Thanks for this. I'll have a look at where my '93 tilley Cruiser is at, insurance wise.
Title: Re: Insurance - Premium and Agreed Value
Post by: Bird on March 20, 2022, 03:52:51 PM
Just received my Insurance for the 93 80 Series Landcruiser.

This year's Premium is $912.
Last year's Premium was $882.

Just a bit of an increase so I thought I would check the agreed value and see how much it has decreased this year.

Last year's agreed value : $16,950
This year's agreed value : $24,250


Not sure how my 93 80 Series Cruiser just jumped that much in value but I might have to hang onto it for a bit longer.
reading a thread on another forum some dude works for insurance and his company has upped agreed to match the market "apparently"
Title: Re: Insurance - Premium and Agreed Value
Post by: alnjan on March 20, 2022, 04:18:52 PM
reading a thread on another forum some dude works for insurance and his company has upped agreed to match the market "apparently"

About the only reason for it.  Just surprised it's an $8k jump.
Title: Re: Insurance - Premium and Agreed Value
Post by: Bird on March 20, 2022, 05:07:26 PM
About the only reason for it.  Just surprised it's an $8k jump.
agree... i mean its just a dirty old cruiser ;)
Title: Re: Insurance - Premium and Agreed Value
Post by: alnjan on March 20, 2022, 05:10:55 PM
agree... i mean its just a dirty old cruiser ;)

Pretty much
Title: Re: Insurance - Premium and Agreed Value
Post by: GGV8Cruza on March 20, 2022, 05:13:25 PM
The prices are crazy, I can almost sell mine for more than I paid after 8 years of use.

GG
Title: Re: Insurance - Premium and Agreed Value
Post by: alnjan on March 20, 2022, 05:41:54 PM
Pretty much but then how much do you have to pay for something to replace it
Title: Re: Insurance - Premium and Agreed Value
Post by: GBC on March 20, 2022, 06:31:56 PM
My Mum wrote off her original series Mazda 6 not long ago. They paid her out over $8k. The market has definitely moved upwards.
Title: Re: Insurance - Premium and Agreed Value
Post by: Bird on March 21, 2022, 09:34:19 AM
From a thread on another forum

'I was quite pleasantly surprised this year when my agreed value automatically increased by a massive 12k this year'
Title: Re: Insurance - Premium and Agreed Value
Post by: D4D on March 21, 2022, 10:02:51 AM
Not just insurance. The wife took delivery of her new car last week after a 12 month wait. The wait increased her trade-in value by over a third.
Title: Re: Insurance - Premium and Agreed Value
Post by: Bird on March 21, 2022, 10:15:48 AM
Quote from: D4D
Not just insurance. The wife took delivery of her new car last week after a 12 month wait. The wait increased her trade-in value by over a third.

thats strange... wouldnt it be pre-agreed value + more klms on it?
Title: Re: Insurance - Premium and Agreed Value
Post by: NZMarkb on March 21, 2022, 10:20:35 AM
thats strange... wouldnt it be pre-agreed value + more klms on it?

I doubt any pre agreed value still stands after 12 months wait
Title: Re: Insurance - Premium and Agreed Value
Post by: D4D on March 21, 2022, 10:39:16 AM
I doubt any pre agreed value still stands after 12 months wait

Yup, trade-in value was renegotiated when there was a committed delivery date.
Title: Re: Insurance - Premium and Agreed Value
Post by: Bird on March 21, 2022, 10:43:14 AM
Quote from: D4D
Yup, trade-in value was renegotiated when there was a committed delivery date.
so she got the 300 series ? ;)
Title: Re: Insurance - Premium and Agreed Value
Post by: Anakist on March 21, 2022, 11:38:35 AM
Renewal rates are a joke.

Do a new quote. From the same people if you really like them.

We have had it multiple times, get the renewal notice the market value has dropped and your premium has increased. Do a quote for agreed value at the higher amount and the premium is less.

James