insurance WTF!?

[fez_k]

I was talking to my girlfriends brother who has a 99 falcon ute for work and also stores his grandpa's el futura at home. (they both are standard)

the ute is insured at 12g wtf? and the futura is insured at 10g. What I don't understand is how this is possible? they both are with RACV and me EL XR6 is with RACV as well and the market value was 6500 with a max. agreed value of 8500. standard.

I was wondering what people here have their cars insured at and if i were to change companies where could I go? Mind you my dad has been with RACV for 20-25 years and the car is under is name.

[nstg8a]

can get agreed value which generally means higher premiums

but id guess in this case its just a normal policy and hes said its worth 12k, but if its totalled the insurance company will just go off market value.

read your policies well, cos there is no point over insuring your car if its not an agreed value policy.

[SnipeZ]

He prob insured it when it was worth 10k

[bng]

You can valve your car more then what they say. I did it with the gfs car but yea that seems really fucking high

[AaronEF8]

I'd say they just insured it at market value when new, and applied their own depreciation over the years.

Or they're just full of shit.

Market value for my EL Fairmont is 7k through RACV, but 4k through RAA. Yet RACV is cheaper.

[fez_k]

Serious though 10g for a el futura? I struggled to sell my dads ef futura for 1500 with reg.
And it was an additional $100 on top when I transferred my dads ef's insurance to mine.

Definitely need to read the policy and have a chat to RAVC.

[SnipeZ]

My fully optioned el ghia v8 is insured for 7500.
Market value was 7k and AAMI said I could only agree it for 500 more then market

[braad]

My fully optioned el ghia v8 is insured for 7500.
Market value was 7k and AAMI said I could only agree it for 500 more then market

Is your premium a lot? It'd cost me over $2k/year for insurance for my optioned el ghia V8. Valued at ~$6k. Wtfs the point, in 3 years i could buy another one outright!