INSURANCE: Whats a VR6 worth?

[MattyT]

My insurance just came, $560.38 full comp with RACWA, but value of ole green lighting is only $6,400!! I couldnt get a new vr6 if greeny was killed (well, not over here at least)!

What do folk reckon a vr6 in fairly good condition is worth for the purposes of insurance?

No replies about "OMG 10K!!!!!!!!" coz no, no vr6 is worth 10k these days, no matter what carsales hopefuls might think!

[Tim]

this is the problem.
The "average VR6 is probably only worth 5k" But then they will all be average condition. I think the way forward is for you to negotiate an agreed value for your car. Your premium would probably go up as well though. But at least that way you can put a value on what you think it would cost to replace.

[Golf Houso]

I had the same response, even though mine has only got 75k on it, they would only insure it for 7k. I'm re-negotiating the insurance now, and I find it odd that I could insure my GL in early 2009 for over 10k, but can't get anywhere near that in my VR6

[The_Hawk]

Mine is insured for $10,200 or there abouts agreed value with Shannons

133,000km
Coilovers “Race Dynamic Coilover kit Gold”
Neuspeed Strut Brace
Front HD strut mounts + Poly Bushings front and rear
DRiFT Cold Air Intake
2.5” custom exhaust by Lukey
Hella OEM Fog Lamps
VW 16” Alloys (OEM to New Beetle)
Black Leather Interior from Toledo
Custom black Leather steering wheel and matching gear shift
Diesel Geek Short Shifter
Pioneer head unit
Custom Fibreglass sub enclosure w/ 12” Sub
Purple Neon boot lighting
Mk4 style headlamps with “Angel Eyes”


Mods are all listed on the policy too. Now last year it was $12k, this year it dropped down a hell of a lot (about $7-8k from memory) for on apparent reason, I had to ring to get it bumped to what it's at now and even then it cost me a few extra $$.

Before you get too excited I pay about $900 for my insurance as a 30yr old male with a perfect history, but it's more about where I live than anything else. I pay similar money for the wifes '99 Subaru Outback so maybe you can get that same sort of agreed value for not a lot more than you currently pay.

In your case, isn't being a colour concept limited edition and all worth anything?

[sydVR6]

I have $10k agreed value NRMA.

Costs me more, but it's worth it.

[MattyT]

Well having a look at carsales right now, the average price for a VR6 nationally is $7,299.

Theres even one for sale in WA for $5,200! And a very nice looking colour concept blue in QLD, but he wants $10k.

But I digress, I have all these mods:
16x7" OZ Ultraleggera rims
Euro lip
Brembo slotted rotors
EBC Greenstuff pads
Braided SS brake lines
Gruven crack pipe
Gruven y-pipe
BMC CDA
Magnaflow 2.25" SS Exhaust
NGK Platinum spark plugs
Neuspeed front strut brace
Dieselgeek short shifter
KW V2 coilovers
Stubby antenna
Hella dual round headlights
35% tint all around
Clarion CD player, Alpine Type-X splits, Alphine 2ch 75watt amp

Some of which are listed with RACWA, most aren't.

I have an agreed value policy and had to get the value upped last year. I'd do it again but I'm just trying to figure out what a decent value would be.

[mk1turbo79]

I arranged Full comp with shannons for my 94 VRT with an agreed value of $20000 i think and it was $1200 a year with good history and secure lock-up garage.

[Golf Loon]

Agreed value with Shannons is the answer.
Ring up and impress upon them how rare it is, and what an enthusiast you are.
I always over insure my stuff because if you have to replace it tomorrow it is gonna cost you.
I have 3 cars insured with Shannons for $50k total coverage, for me and the Mrs Fully Comp and the yearly premium is under $1000
I live in a country postcode and we are both over 30, no accidents, plenty of tickets!
I reckon $10k agreed value for a tidy VR6 is fair.

[Mrk_Mickey]

Matty, I'd insure yours at 10k. I'd insure mine at 9 but it's at 7 at the moment and not even comprehensive so meh.

[VR6child]

Mine is insured for $7500 if I remember right. I bought it for $8500 two years ago. I'm insured with JustCar. They tried to drop the value on me a couple of times, and I called them up and came to a compromise with them. If you explain that the 6 cylinder is rarer and what not, they shouldn't drop it as much as they otherwise might.

[gldgti]

I have my CL Diesel insured for $9500. with shannons.... being under 25 kills me, but its a helluva lot rarer than a VR6.

on the plus side, i have every mod listed on the insurance. you know, the bloke told me that big brake upgrade actually made my premium go DOWN.

he might have been telling a sales-lie, i dunno. funny nonetheless.

[jazzvr]

Theres even one for sale in WA for $5,200! And a very nice looking colour concept blue in QLD, but he wants $10k.

Hehe, thats me. And yes im very hopefull. I know im asking alot but I think deep down I just dont want to sell it. Selling due to loss of licencse, but already miss driving it........

[AusScare]

Agreed value is the way to go. Had my mk2 gti at $5.5k, shoulda asked for more..

My Pug 206 GTi is at $14k and I bought it for $10k.

[MattyT]

Thanks for all the opinions guys, very helpful

I dont really think I can justify asking 10k for mine, but maybe 9k. If I was to sell it tomorrow i'd probably ask for 9k with all the mods. I Bought it for 7.5k 3 years ago and the only mods back then were a crappy stereo and no-name rims. The car has done 263,000km now...

Interesting about the brake upgrade thing! Mine have been upgraded too so they might say the same thing. Who knows?

[MattyT]

*** THREAD REVIVAL ***

I ended up being lazy and renewing my RACWA insurance for a year. Interestingly, they would only go as high as $8,320 - which isn't bad considering my premium is now a shave under $600. A quote on the net with Shannons ended up being around $800 for $8k agreed value.