Mk6 GTI insurance

[dmwill]

Had a bit of a look about but cannot find anything posted within the past ~12 months on the insurance topic. Interested to see who others are insured with (premium, value etc)

Renewal just came (RAC here in Western Australia) and have been left pretty disappointed with the agreed value.

MY11, MK6 GTI (5-door DSG)
$78/month (I get a small discount for being a RAC member and driving less than 5000km/year)
$500 excess
Agreed value: $15,440 (this is the maximum).

FYI: There is no market value option (though I don't think this would help given Redbook value is $11k-14k).

Most online insurers appear to return similar figure via their online quotes.

Interestingly if I was to search around the market similar examples (MY11-MY12 under 80k kms), I'm looking at values between $18-26k.

[Dutch77]

The problem right now is Redbook has lost any resemblance of usefulness in guiding values and they may as well shut the whole thing down - even the carsales trolls are low balling well above those values.

The flipside is carsales values right now are inflated by at least 10% due to events this year, and the fact that everyone just prices off the market.. effectively it's a self fulfilling bubble.

Unfortunately neither will help your problem. The truth lies somewhere between the two extremes and you might be stuck hoping you can argue market value exceeds agreed, or see if someone like Shannons will take into account a higher value if car is clean and/or any mods.