Insurance costs !

[MikeFish]

I tried mine at actual value and just a bit less to take it under the 75k limit to see how it compares and it made quite a difference but thought it wasn't worth the risk to save a few hundred quid. And it will only be for the 1st year as I can't imagine any 1 year old RS6 still worth over 75k.

[Magido]

Full insurance:

-Glass
-Theft
-Accident (Both the other car and mine)
-Fire
-Animal-crash

Around 1200SEK /month (around 130 USD)
If i crash or the car gpt stolen i pay a fee off 500usd

[Leo-RS]

You would need a spec north of £88k to pay more than £75k.

In addition, the insurance company asks for market value of the car, not the purchase price or the Sticker price.

Unless very highly specced most RS6's should be under the £75k value, there's nothing at all fraudulent about it. Drive the car off the forecourt and then try get a trade market value on the car and it will likely be quite a bit below £75k.

[vestax32]

I'm with Admiral and pay £800 with protected no claims & 6 points. OX13 postcode.

[wildbore]

.

...there's nothing at all fraudulent about it. Drive the car off the forecourt....

If you paid over £75K for the car and then claim the car is worth less than that when you immediately insure it then that is a fraudulent declaration. But the thing about insurance is that you don't know that they won't cover you until the day you try to make a claim, so if the OP is feeling lucky...

[MikeFish]

What happens if it gets stolen in the 1st year? Do they just pay out what you said it was worth? Doubt it. Pretty sure they will want to see the paperwork before you order a new one;
I'm sorry sir you knowingly under valued the car when taking out insurance; I'm afraid you're not covered for your loss.

[Marcus_RS4]

Taken from the Confused website as help for what to key under the value field:

"Where possible we've estimated the market value of your car, based on a few assumptions. If you agree with the value displayed, please continue. If you believe this value is incorrect, please type in the correct amount before continuing. Your car will generally be valued at market rate at the point of claim if your vehicle is stolen or written off."

Take a look at the market, see what your car is roughly worth and use that. One thing is sure, it's not worth the purchase price.

[wildbore]

Clearly a fair few people here have not had to work with a loss adjuster and just view insurance as a tick-box exercise.

The remarkable thing about them is that they weren't born yesterday.

[RSQ]

In the first year insurers should give you a new one so insure properly. After that you will get market value (which is likely 10k less than you could actually get one for). I wouldn't play about on a new car either.

[doodlebug]

I agree, naive in the extreme. At the end of the day you pays your money. What I don't get is quibbling on the insurance on an 80/90/100k car. Just asking for trouble.

[Ian_C]

Problem solved. I was putting in the list price that the dealer gave me of £90k and not what I would pay with the discount.
Just put in £75k and getting quotes from £475 per annum.
Thanks for the pointers and advice, having never spent this much on a car before I didn't know about the £74999 limit most insurance company's put on quotes.

If the car actually costs more than £75K then the insurance company may well declare that this is a fraudulently obtained policy and void it in the event of a claim.

LV insured me at the purchase price (£83K)

Clearly a fair few people here have not had to work with a loss adjuster and just view insurance as a tick-box exercise.

The remarkable thing about them is that they weren't born yesterday.

In the first year insurers should give you a new one so insure properly. After that you will get market value (which is likely 10k less than you could actually get one for). I wouldn't play about on a new car either.

I agree, naive in the extreme. At the end of the day you pays your money. What I don't get is quibbling on the insurance on an 80/90/100k car. Just asking for trouble.

What Smarttech is saying is that his invoice price is (sub) £75k after discount. There's no point insuring it as 'worth 90k' if you have paid (sub) £75k brand new, and could order another one (sub) £75k brand new. If the car is nicked, the insurer will only pay invoice (within the first 12 months as RSQ highlights). They are not going to pay you 90k for a car you paid 75k for*

Agreed on the 'loss adjusters - they weren't born yesterday' comment!

Oh and agreed on the Admiral comment. I wouldn't insure a Lego car with them. There are only a handful of insurers who will NOT pay 'invoice' if the car is taken within the first 12 months - read the small print! Eddie unfortunately had to take up this benefit on his policy....

*the only policies that do this will be very specific policies taken out if you are lucky enough to buy (for example) a brand new 675LT or 911R, you want a policy that will pay market value if the car is lifted, which is more than list / the price you bought it for etc. 1st world problems and all that....

[doodlebug]

For 911R etc you'd agree the value.

Insuring for invoice inc discount is risky as that is the price at a point in time. We've already seen Audi reduce support for their products, so discount has reduced ergo replacement will be more expensive.

[Ian_C]

For 911R etc you'd agree the value.

No you wouldn't. Agreed value limits the amount they will pay - if the car shoots up in value by 50k and is nicked, and you'd need 50k more to replace it, the insurer aren't going to raise their offer!

Guy on the S2 forum recently wrote off his RS2. His insurance was agreed value 18k. However, in todays market, you need double that for an average one. Prices have gone bananas in the last 12-18 months. He asked for more, they laughed, and paid him 18k (minus excess). Opps.

Was having this conversation with a mates dad earlier this year, his DB6 Vantage is appreciating at 75k a year! Makes it very hard to sort a classic agreed value policy. And he needs it insured properly as he actually drives it unlike most people

ANYWAY, I have taken this conversation off topic, not for the first time lol

[doodlebug]

The agreed value can be agreed again. I've seen a lot of GTx owners doing exactly this. It's a pretty unique market.

[wrekka]

A Plan insurance have always been great to me. To get the best deal they require evidence of performance car ownership history. Did this through old insurance certificates I had and a few photos!
Brand new RS6 PE with mods declared £500. 38 years old clean license (touching wood)