[GO FURTHER]

I went through this exercise a week ago, as the renewal came up for my Mustang.
So I decided to use "Compare the market" .com.
I was with the RACV, who are the best when it comes to car insurance in Vic I've found, but not the cheapest.... One of the more expensive ones.

Anyway, Budget Direct and Virgin came up as the cheapest, after I input all my details.
Both were more than half the price of the RACV.

Went I went to buy with both (you have to ring up after getting your online quote) and speak to a sales member from those companies... Both flatly refused to insure my Mustang because I had increased the performance through a tune.
It was not even a question of paying a higher premium... They simply would not insure me.

I ended up sticking with the RACV who don't care about modifications.
Their attitude is as long as the car is roadworthy with them, they are only going to pay either the market value or the agreed value of the car, without them anyway if written off or stolen.
Since the 'tune' has no replacement value to me, it does not worry me.
It's software I can put on another car.

There is a reason why some insurance companies offer unbelievable cheap premiums... Not all are created equal. When you start delving into the fine print, conditions and what it includes, suddenly the more expensive quote starts to offer far better value.

For example, with Virgin, you can pay extra to reduce the excess to $400 for a replacement windscreen but not zero, but with the RACV, their windscreen option is $0 excess.