car insurance

[12000]

Hello i dont know if this has been asked before but im wondering whats the maximum you can insure a eb2-ed 4.0L fairmont sedan for with third party property, third party fire and theft and comprehensive. Im going to ask my insurance company but i want to know from you guys as well.

[b2tf]

Just tell your insurance company you want to pay the highest possible premium.

[12000]

so whats the maximum you can insure it for using third party if its agreed value

[RG]

Originally Posted by 12000

so whats the maximum you can insure it for using third party if its agreed value

Depends on the company but most only insure it for fire/theft up to 5k.

[12000]

so what happens if the property damage is more than the cars insured for does it only affect the car

[Road Games]

I,m pretty sure they will come and repossess your parents house ? Dont qoute me but?? If you pay at least $10000 premium a year , i,m fairly certain you wont hear a peep out of them. You might even go into the Gold Member Class. Then you may get a Keyring on your birthday ,and a new set of wiperblades for christmas ! Good luck

[Yaw]

With a third party fire and theft policy the highest amount I am aware of offered is Just cars offer up to $10,000....However having said that what you need to understand with third party fire and theft is that the ONLY time you could possibly get that is if the car has a market value over that amount already and it got stolen or burnt out.

Just because the amount says up to does not mean its not a market value you get. It simply means that is the MAXIMUM benifit. For instance if I give 2 examples; I will use Red Book market prices to illistrate.


Example 1: Ford Falcon 1994 ED GLI $1400-$3200
http://www.redbookasiapacific.com/au...p?key=FORD94AO
Best possible you would get is $3200 even if they cover up to $10,000 On fire and theft.

Example 2:2007 FERRARI 599 FIORANO

GTB Coupe 2dr Man 6sp 6.0i
Market Value : $436,000 - $463,900
http://www.redbookasiapacific.com/au...p?key=FERR07AA

Best Possible payout for fire or theft would be $10,000

For a third Party policy you are not insuring your car..just the damage it may do to other peoples property.Most companies pult the liability amount between 10-20 million, but you don't get a cent for damage to your vehicle.

As for comprehensive the formula is usally current market value of car + maybe 10 percent. Mods and accessories also depriciate every year and don't make that much difference. If a car is overinsured and there is a total loss you can pretty well expect it to be thoroghly investgated before a payout is made as it is viewed as an incetive to total loss the car for finacial gain. ( I am not saying it would not be paid, but be prepared for an investigation)

[Powdered Toast Man]

Originally Posted by 12000

so what happens if the property damage is more than the cars insured for does it only affect the car

With 3rd party your car isn't insured, only the damage done to anything you hit. Thats the whole point of 3rd party insurance; so even if you drive through the living room of a multi million dollar mansion after ploughing into a Ferrari parked out front the damage you cause is was your insurance is for. No matter what the premium you pay.

When it's 3rd party fire and theft then your car is insured if it gets stolen or catches on fire. It's still not covered in an accident. And like RedXR347 said, the max is about $5K coverage for your own car in the event of a fire or if it's stolen if you go agreed value.

Dunno about full comp. Best ask your insurance company.

[sgt_doofey]

Look at the PDS from your insurance company. It'll have all the necessary information you are after there.