Insurance - Premium and Agreed Value

alnjan · 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.

Steffo1 · 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.

Bird · March 20, 2022, 03:52:51 PM

Quote from: 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.

reading a thread on another forum some dude works for insurance and his company has upped agreed to match the market "apparently"

alnjan · March 20, 2022, 04:18:52 PM

Quote from: Bird on March 20, 2022, 03:52:51 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.

Bird · March 20, 2022, 05:07:26 PM

Quote from: alnjan on March 20, 2022, 04:18:52 PM
About the only reason for it. Just surprised it's an $8k jump.

agree... i mean its just a dirty old cruiser

alnjan · March 20, 2022, 05:10:55 PM

Quote from: Bird on March 20, 2022, 05:07:26 PM
agree... i mean its just a dirty old cruiser

Pretty much

GGV8Cruza · 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

alnjan · March 20, 2022, 05:41:54 PM

Pretty much but then how much do you have to pay for something to replace it

GBC · 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.

Bird · 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'

D4D · 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.

Bird · March 21, 2022, 10:15:48 AM

Quote from: D4DNot 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?

NZMarkb · March 21, 2022, 10:20:35 AM

Quote from: Bird on March 21, 2022, 10:15:48 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

D4D · March 21, 2022, 10:39:16 AM

Quote from: NZMarkb on March 21, 2022, 10:20:35 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.

Bird · March 21, 2022, 10:43:14 AM

Quote from: D4DYup, trade-in value was renegotiated when there was a committed delivery date.

so she got the 300 series ?

Anakist · 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

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Insurance - Premium and Agreed Value