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Author Topic: Insurance - Premium and Agreed Value  (Read 3620 times)

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Offline alnjan

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Insurance - Premium and Agreed Value
« 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.
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Offline Steffo1

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Re: Insurance - Premium and Agreed Value
« Reply #1 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.
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Offline Bird

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Re: Insurance - Premium and Agreed Value
« Reply #2 on: 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"
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Offline alnjan

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Re: Insurance - Premium and Agreed Value
« Reply #3 on: 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.
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Offline Bird

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Re: Insurance - Premium and Agreed Value
« Reply #4 on: 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 ;)
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Offline alnjan

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Re: Insurance - Premium and Agreed Value
« Reply #5 on: 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
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Offline GGV8Cruza

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Re: Insurance - Premium and Agreed Value
« Reply #6 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
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Offline alnjan

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Re: Insurance - Premium and Agreed Value
« Reply #7 on: March 20, 2022, 05:41:54 PM »
Pretty much but then how much do you have to pay for something to replace it
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Offline GBC

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Re: Insurance - Premium and Agreed Value
« Reply #8 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.
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Offline Bird

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Re: Insurance - Premium and Agreed Value
« Reply #9 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'
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Offline D4D

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Re: Insurance - Premium and Agreed Value
« Reply #10 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.
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Offline Bird

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Re: Insurance - Premium and Agreed Value
« Reply #11 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?
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Offline NZMarkb

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Re: Insurance - Premium and Agreed Value
« Reply #12 on: 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
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Offline D4D

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Re: Insurance - Premium and Agreed Value
« Reply #13 on: 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.
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Offline Bird

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Re: Insurance - Premium and Agreed Value
« Reply #14 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 ? ;)
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Offline Anakist

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Re: Insurance - Premium and Agreed Value
« Reply #15 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
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