This is the argument. I had the Shannons rep get real snarky with me when I was trying to increase the agreed value of my Monaro from their quote. He snapped, well what do you expect, mate. I said, more than what you have provided because I want to be able to buy a replacement. You find me a Monaro with the same KMs for anywhere near that low value and I'll accept it. He had nothing. He knew it was way undervalued but just wanted me to accept it and go away.
Enthusiast offered basically the correct value straight off the bad (30% higher than Shannon's). The crazy part is that I see people with higher KM, worse condition Monaro's insured for a higher value than mine with a lower premium than Shannon's quoted me. Enthusiast do much better here in my experience. My car is probably still a bit undervalued but it's a small buyers market at this price point, so I accepted it. I would expect more if selling it to be honest.