Update on my insurance situation, LSV= complete dickheads

So for those that have been following this thread http://www.aus300zx.com/forum/showthread.php?t=295518 ...

I have been chasing insurance for my car, and after calling shannons/just cars/etc the best deal seemed to be with Lumley Special Vehicles. They previously advised they could insure the car for $35k, or go as high as $50k if I obtained a certified valuation that put the car at that figure.

So after weeks of looking around and not to mention paying the valuation fee, I was finally able to forward a certificate of valuation to LSV yesterday that put market value of the car at $50,500 and replacement value significantly higher.

I just now got off the phone with LSV, after "careful consideration" by his manager, the highest agreed value that the rep can offer me is $25,000???? What a complete waste of time.

So it's back to square one for me, and I categorically retract the positive rap I have previously given LSV

 

Step one is I will go back to Shannons and Just Cars with the valuation and see if they will come to the part... but failing that yes a broker might be a good option.

Paying a higher premium is not an issue if I can get the coverage I require.

EDIT Just got email back from Just Cars, and their underwriting conditions prevent them from insuring a Z32 for more than $20k regardless of valuation and money spent. I suspect Shannons will have a similar ceiling but I'll keep you posted...

Not often...

Yeah I saw your other post... I was just amazed that they would give me a written quote with agreed value $50k pending my supplying supporting documentation as requested only to reneg when I came back with the valuation. Apparently the manager at LSV knows "alot about imports" and $25k is the absoloute most the car is worth. What a bunch of **** heads.

 

I have mine thru LSV, offered me 15.5k with all the mods for 8000km per year use. Cost is about $400 per year. No buy back option tho until the car is 25years old (classic)...

They don't insure daily use cars anymore for new customers

 

Thanks for the suggestions guys, and I will give Famous a shot.

Yeah they quoted me on a $50k policy, but there is a clause in the quote to the effect that the maximum payout will be at market value pending further documentation.

Agree the manager is probably an idiot but I am undecided as to how far I want to take it with LSV... Assuming I could push them to honour the original quote they may well be a pain in the arse in the event of a payout.

Car is definately NOT a daily driver and will never be! LSV are well aware of this.

My frustration with Lumley's is not that they won't insure at $50k (they're not alone there!) but that having agreed to a certain figure they have now backpeddled big time, after I have spent the time and money making sure their terms were met.

 

Got a phone number/email/name for me?

 

Thanks guys I will give that a shot.