Car Insurance for Imported Cars

[fishguts]

This is a question for anyone out there who has imported or has bought an imported car.

How do you go with insurance and agreeing on a value for the car?

Basically I am looking at an import car, 93 model with say 60000kms on the dial. I will be paying $10000-15000 for it but when I went to get a quote on the insurance, it was really cheap. Basically they said that other cars of the same make and age are available for around $3000 so if i got comprehensive insurance on it, and it was stolen, that is all i would recieve.

They talked about getting it appraised and a higher value put on it, but it all sounds a bit dodgy and I can see myself having to settle on a price that is well under what I am going to pay.

Has anyone else been through this already and give me some pointers on what I need to do to cover my ass?

thanks!

[canucksafari]

ICBC usually goes on the value of what similar vehicles of similar options and milage are selling for. When I bought my first safari, there were less than 4 of them in all of BC, so they went by my purchase price. Well, they actually asked me what it was worth and how much I wanted to insure it for. :) I just picked up another Safari off the docks yesterday for way under what i paid for my current rig and also lower milage and immaculate condition except for one small item soon to be fixed. I am presuming that when I have passed the OOP and go to get it registered and insured that they will base it on what others are selling them for. But I will have sample listings with me just in case. If you can't agree on a value and can't produce sample listings to prove your point, then you have to pay for an independent appraisel by someone licensed to do it. People do this all the time - especially classic car owners.
BTW, what's the vehicle?

[Vern22]

Have you looked into private insurance? I was able to pick the insured values for both of my bikes. ICBC didnt give me the same option. Not sure how private auto insurance works yet.