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walkoau

Nrma Vintage And Classic Insurance

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On 1/26/2019 at 7:09 PM, Nismo 3.2ish said:

I am similar, haven't even had a speeding ticket for a long long time, garaged, country town and in a safe area and this year it is up 16%

Methinks they will keep doing this until they drive us elsewhere ?????

They do not seem to understand that these cars are not just being trashed by boy racers (they can't afford them)and the prices are going through the roof

when I first got the car I could have insured a new $150,000 GTR about the same price a $45,000 R34GTR through other companies:/ 

To your second point... That is a reason why they will no longer increase value.

E.G - hypothetically speaking, If i bought my 34 R in 2013 at around 50K, now insured for $100K, i still make a profit of 50K if i write ff the car.

That's a risk in insurance land, and I wouldn't be surprised if *some people would try this tactic (write it off/ sell parts and pocket the remaining cash)

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5 hours ago, djvoodoo said:

To your second point... That is a reason why they will no longer increase value.

E.G - hypothetically speaking, If i bought my 34 R in 2013 at around 50K, now insured for $100K, i still make a profit of 50K if i write ff the car.

That's a risk in insurance land, and I wouldn't be surprised if *some people would try this tactic (write it off/ sell parts and pocket the remaining cash)

But there are many blokes like myself that have spent much more then they would insure the car for anyway.

If the market is saying you can get $100k for something you have paid $50k , good for you, thats what it is worth

Just because you have n R34GTR doesn't mean you will get $100k for it, it has to be in pretty good condition inside and out to get that type of money and not flogged  under  the hood.

I think they should take each car on it's merits and insure them based on the condition and type of car it is. I have a worked R34GTR that is just about new underneath from the radiator to the tail pipe, ALL mods are high quality, not thrashed and in good condition inside and out but I doubt they give a shit as they have probably been told from above to do what the company dictates, the end :( 

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