Agreed Value

Replacement New Vehicle

Transcorp provides a Replacement New Vehicle (including On Road Costs) for all vehicles up to three years old, if they are written off in an accident or stolen, provided the Sum Insured is sufficient to cover the cost of the replacement new vehicle.

Automatic Agreed Value

Transcorp gives Automatic Agreed Value as standard, with no Vehicle Valuation required, up to: Vehicle Replacement Value for the first 3 years & 10% above market value for vehicles over 3 years old (except cars etc to 2 Tonnes capacity) .

Fixed Agreed Value

To have Fixed Agreed Value, you must get a valuation for your Vehicle.

The procedure is:

Initial Quote

1. Email PRP Valuers at insurancevals@prpqueensland.com.au with the number of Truck and Trailer combinations and they will give an indication quote. If you decide to proceed and get a Valuation:-

Initial Appraisal

1. Click on the link below to open the Vehcile Appraisal Request form.
2. Complete the form, one form for each vehicle, trailer etc.
3. Email the completed form/s, with a Front Three Quarter photo of the relevant item and a scanned copy of its current Registration Certificate to:insurancevals@prpqueensland.com.au
4. PRP Valuers will then send you a quotation for providing the Appraisal/s.
5. If you decide to accept their quotation, you email your advice of acceptance, together with your Credit Card payment details to PRP Valuers.
6. PRP will email the Appraisal to you & Transcorp.
7. If you decide the Appraisal Value is fair and you wish to insure for that amount as Agreed Value, you advise Transcorp and we will do so with any appropriate premium adjustment that arises from any change to your vehicles Sum Insured.

Policy Renewal

Prior to policy renewal, if you want Fixed Agreed Value for the forthcoming year, you email PRP, advise them your Appraisal Number, and they will give a new Appraisal at half the price you paid for the Initial Appraisal.

If you have additional vehicles on renewal, or add vehicles during the policy term, the same procedure applies as for the Initial Appraisal.

Changing to Fixed Agreed Value in the middle of the policy term

If you commence your insurance for Automatic Agreed Value but wish to change to Fixed Agreed Value mid-term, this is also acceptable. Just email the details to PRP and follow the same procedure set out for an Initial Appraisal. This valuation would only be valid untill policy renewal.

Vehcile Appraisal Request Form - click here

The above forms is an Interactive Word document.  Provided you have Microsoft Word on your computer, you can print it out or, download it by right clicking the document title, selecting 'Save Link  As…' and specifying the location you want to download it to e.g. your computer’s hard drive. You can then complete it in the areas highlighted in grey, save the completed document (if you want to save a copy), print it out, and send it to PRP Valuers.