Comprehensive Insurance Agreed / Market Value 90 Series

[luked Member Find all posts View Profile Close luked]

Hi All,

Thought I would start a new thread as the existing insurance thread was all about the later models.

The Story. Purchased 1 year ago... 1998 Prado 3.4L Manual with 60,000kms. (now 75,000)
Extras: Nothing too special, alloy bullbar, towbar, side skirts...

Purchase Price was $17,500 and GIO insured the vehicle for $17,000 12 months ago Premium $680

Insurer: (Not me as i'm 23!!) The policy says a mature driver perfect record.... In Sydney which doesn't help..

RECENTLY
Received the renewal and GIO have valued it at $11,000... which i managed to get to $12,000 with some haggling about the low kms..

AAMI have quoted me a agreed value of $15,570 based on the low kms however i have been told since that this shouldnt have been doon as the vehicle is now > 10years old... I have yet to hear a good story about AAMI insurance too....

Initial Valuing says this vehicle (based on 1998 Prado) is around $9,000...

IS THIS THE VALUE EVERYONE IS INSURING THEIR 90 SERIES FOR?

we all know about the quality of these vehicles and carsales says to me that I wouldn't be able to replace mine for anywhere near what they are valuing it at...

I have been burnt in the past by insurance companies highly depreciating a commodore without me noticing.

MY SUSPICION IS THE INSURERS OFFER A GOOD DEAL FIRST YEAR AND TRY AND DEPRECIATE THE VALUE AS SOON AS POSSIBLE TO LOWER THEIR LIABILITY. I BELIEVE TOO MANY PEOPLE JUST PAY POLICY RENEWALS AND BE DONE WITH IT!!!

SO EVERYONE, GO DIG UP YOUR PAPERWORK AND MAKE SURE THAT IN THE WORST CASE SCENARIO YOU CAN REPLACE YOUR PRADO!!

Another consideration is... are these prices (Asking prices) on car sales etc.. highly inflated with this economic bs? And that these people are desperate to sell? Making the selling price a lot lower than what they are asking.... I believe not...???

This might be more useful if people reply with

YEAR - 1998 RV6
MOTOR - 3.4L
KMS - 75,000
LOCATION - Sydney
VALUE - $15,570
PREMIUM - $750
INSURER - AAMI

Who knows maybe I should stop complaining and go with this $15,570 quote!! But dont let these companies screw you!!!

Happy Prado-ing

[Snaga Wishing I was lost Find all posts View Profile Close Snaga]

Re: Comprehensive Insurance Agreed / Market Value 90 Series

Hi Luked. Always an interesting topic.
What model are you insuring? RV, GXL ETC.

[cooper276 Lurker Find all posts View Profile Close cooper276]

Re: Comprehensive Insurance Agreed / Market Value 90 Series

YEAR - 1999 GXL
MOTOR - 3.4L
KMS - 365000
LOCATION - Melb
VALUE - $18700 (just got my renewal, down $500 on last year)
PREMIUM - $615
INSURER - AAMI

[luked Member Find all posts View Profile Close luked]

Re: Comprehensive Insurance Agreed / Market Value 90 Series

Hey All,

My prado is a RV6... not sure if it makes a significant difference.....

Just spoke to family friends with a

YEAR - 1998 RV
MOTOR - 2.7L
KMS - 190000
LOCATION - Syd
VALUE - $12000
PREMIUM - $615
INSURER - AAMI

I was told by AAMI that mine is valued at $9,300 and that someone incorrectly raised the value so its as high as it can go!!!

Cooper you must be happy with insuring yours for $18,700!!! seems they are appreciated a bit more south of the border, thought i your kms were 36,500 at first with that value... interesting....funny that mine has depreciated $5000 in the same time that yours has dropped $500!! and mine was less to start of with...

[jcas24 Advanced Member Find all posts View Profile Close jcas24]

Re: Comprehensive Insurance Agreed / Market Value 90 Series

YEAR - 2000 GXL
MOTOR - 3.0L TD
KMS - 170,000
LOCATION - Newy
VALUE - 24,925 agreed value (still cost more to replace everything)
PREMIUM - $1,242.94
INSURER - GIO

I'm 26 now, and I thought the price would have dropped more since turning 25, and I've only had one claim in over 5years.

[cooper276 Lurker Find all posts View Profile Close cooper276]

Re: Comprehensive Insurance Agreed / Market Value 90 Series

$1242???? Ouch.

Yeah pretty happy with the agreed value given the km's.

Insurance companies - up there with time travel and females on the comprehension scale....

[adam's prado Senior Member Find all posts View Profile Close adam's prado]

Re: Comprehensive Insurance Agreed / Market Value 90 Series

Hi all this is what we are paying for our insurance I'm 29 my wife is 28 rating 1 for life no claims. Still the agreed value won't replace all the goodies that have been bolted onto the rig. We paid $27990 for the car 12 months ago from a dealer stock standard plus a quite a bit more in upgrades. Wish I had of shopped around
Thanks Adam

YEAR - 2002 GXL
MOTOR - 3.0L TD
KMS - 140,000
LOCATION - Melbourne
VALUE - $26000 agreed value
PREMIUM - $657
INSURER - RACV muti policy discount

[jcas24 Advanced Member Find all posts View Profile Close jcas24]

Re: Comprehensive Insurance Agreed / Market Value 90 Series

Adam do you have your accessories listed on the policy?

thx

[adam's prado Senior Member Find all posts View Profile Close adam's prado]

Re: Comprehensive Insurance Agreed / Market Value 90 Series

Adam do you have your accessories listed on the policy?

thx

I have every thing over $500 because the excess is $500
Adam

[ChrisCrowie Junior Member Find all posts View Profile Close ChrisCrowie]

Re: Comprehensive Insurance Agreed / Market Value 90 Series

Hi Everyone,

I actually think I am getting a really good deal for mine. Insurance includes all the goddies being replaced (snorkel, rust proofing, dual batteries, bull bar, spotties, winch, stereo, cargo draws, etc) then the value of the car. Also screw them down every year to send me a letter stating that I am covered no matter where I drive so long as I am not in a competition or attending a competition event (something to do with not being able to tell if I was participating or not). 29yrs old, rating 1 for life and 5% discount. Also the price includes glass replacement on any window as many times as needed with no excess.

YEAR - 2000 GXL
MOTOR - 3.0L TD
KMS - 235000 (only 18000 since full rebuild)
LOCATION - Brisbane
VALUE - $21000 agreed value
PREMIUM - $822
INSURER - NRMA

The thing to watch out with them is what they will cover you for and where. Most insurers only cover govt. gazetted roads, and no tracks. That is why I get the letter sent every year cause my policy covers me wherever I want to drive. Something to check on your policies cause I have known people who have gone 50m off the road to try a track, crashed and insurance did not pay up as they were not on a recognised road at the time!!!

[Snaga Wishing I was lost Find all posts View Profile Close Snaga]

Re: Comprehensive Insurance Agreed / Market Value 90 Series

... in a competition or attending a competition event (something to do with not being able to tell if I was participating or not)

Surely the spectators pass v's a competitors pass would clear up this situation... they'll find anyway out of a situation wont they :roll:

[adam's prado Senior Member Find all posts View Profile Close adam's prado]

Re: Comprehensive Insurance Agreed / Market Value 90 Series

The thing to watch out with them is what they will cover you for and where. Most insurers only cover govt. gazetted roads, and no tracks. That is why I get the letter sent every year cause my policy covers me wherever I want to drive. Something to check on your policies cause I have known people who have gone 50m off the road to try a track, crashed and insurance did not pay up as they were not on a recognised road at the time!!![/quote]


Mine is similar but I'm covered for marked tracks same applies with roadside assitance i've got total care which covers all vehicles I drive or ride an extra 100 something dollars but piece of mind

[rossy Junior Member Find all posts View Profile Close rossy]

Re: Comprehensive Insurance Agreed / Market Value 90 Series

i had a problem with nrma. i,ve been a member & insured for more than 25 years (gold member).when i fitted the genuine trd supercharger to my prado which you can buy from toyota they wiped me because it was not made in australia. i could fit one to my sons commodore thats ok,its made local.i put all the arguments forward but fell on deaf ears. so checked around and shannons agreed. 1999,v6 snowy all usual options,manual,modified,insured for $20.000k,premium $870.00,free windsreen & recovery.

[luked Member Find all posts View Profile Close luked]

Re: Comprehensive Insurance Agreed / Market Value 90 Series

I wouldn't pay over $10k for a 98 RV6, they simply aren't worth any more. For the $15k they have quoted you as insured value, i'd be exceptionally happy with. If you went and tried to trade it in, they'd probably give you $8-9k for it at best.

Hey thanks for the reply, obviously noone likes hearing they have been ripped off but I think i have worked it out.

When I was looking for a Prado 12 months ago (and i did look everywhere for quite a few months - even ended up flying to melb to get this one) I was looking firstly at kms and I wasn't interested in an auto. I wasn't too bothered by what model it was.. when I scroll down through the pics on the side here i'm sure this will be different to probably all of you!!!... I don't think I paid too much for it cause I struggled to find something with low kms which was my most important consideration...obviously then I was looking at service records and how much off-road use/condition..

Anyway thats not what this is about but I guess everyone values different things at different priorities... the insurance companies have to aswell and it makes sense to price them based on model rather than kms...as the majority of people seem to.

Well they say a car is (only) worth what someone is willing to pay... everyone told me I paid to much fo my last car an EH Holden and i sold it after 3 years and no significant expenses for $5k more...

If you can't find a newer higher spec Prado then what you have for $15k, hate to say i, but you aren't looking hard enough.

.... low kms??? i guess "low" is open to interpretation aswell...and rightly so when plenty of them are at high 300's and still going strong

My mate is actually looking for a manual prado now (possibly due to my influence) and I havent searched hard but carsales had two prados <$20,000 and <100,000kms (both were autos) if anyone can find them let me know!

I think he was quite keen for a GXL or snowy but...hahaha maybe i'm the only one who doesn't mind!

[luked Member Find all posts View Profile Close luked]

Re: Comprehensive Insurance Agreed / Market Value 90 Series

I guess its on a similar topic....

My mate has asked me to throw the details of a prado up here that he's interested in.

1999 TOYOTA LANDCRUISER PRADO VZJ95R SNOWY GXL
Price $18,690
Kilometres 117,569
Transmission 5 speed Manual
Engine 6 cylinder Unleaded Multi-point injected 3.4L (3378cc)

http://www.carsales.com.au/all-cars/dea ... 169DAA1CE3

Anyone have any comments or advice or even know this vehicle? looks pretty straight and says full service history...about all you can go off without seeing it...