LOL, yes they will insure you, your giving them money, but like any contract or policy you should read it first, it states that if the vehicle is over the limit then you wont get your claim aprooved, call em and ask that if the car is too powerfull for ps am i insured in the event of a claim, they will tell u no, the car must be aprooved by vic roads.
I have so many ppl say that when i tell them, why would they insure u if ur not coverd, Just read the policy and ask questions first, they probly love these cases they collect wopping premiums and dont have to pay out full comp claims
And i dun know who you spoke to at vic roads, but they have the specifications for all vehicles and can tell you about your car, i spoke to them just yesterday along with the insuracne company.