| Author |
Message |
Daniel Calleja
Tinkerer
VIC
Soarer 4.0 GT
Posts: 15
Reg: 08-2005
|
Howdy people
was just wondering if anyone can offer advice on insuring my V8. I'm with just cars at the moment, and price wise they're nothing special. I wasn't too impressed beforehand, n now they rip out some additional "Plus Vehicle" excess fee of $300. That's on top of the standard $450 standard excess and the +$400 under 22 yo'd driver.
Anyone got any suggestions? Either third party or full comp. Keeping in mind i have body kit, mags and tinted windows :oS |
Avin Luther
TryHard
vic
Soarer V8 uzz31
Posts: 178
Reg: 07-2005
|
go to RACV, put stock wheels on for a month or so as they wil only cover you with standard wheels (7 inch max) (dont know about bodykit) RACV will be really expensive but go for the pay by the month. They will give you a better rating than anyone else but charge the earth. Take the rating one then after a month or so call up Unique car insurance and tell them you are a rating one driver but RACV is too expensive! i saved $1300 heheh,
then you can do as many mods as you want as long as they are legal. |
Avin Luther
TryHard
vic
Soarer V8 uzz31
Posts: 179
Reg: 07-2005
|
oh sorry just read your profile, you need to be 25 to go with unique... 
You got no choices in victoria for a couple of years. I have rung them all more than once! |
Justin Sparks
Newbie
Victoria
V8
Posts: 2
Reg: 08-2005
|
Have you tried Torque? |
Daniel Calleja
Tinkerer
VIC
Soarer 4.0 GT
Posts: 16
Reg: 08-2005
|
lol sounds like a good shifty for when i am 25 tho
n no i havent even heard of of torque... what they got? |
Perry Morgan
TryHard
Qld
UZZ32 ( V8 )
Posts: 324
Reg: 07-2005
|
Ring them and find out. |
Peter Scott
Tinkerer
South Australia
Active V8
Posts: 53
Reg: 08-2005
|
Under 25 sounds like a hard slog. There are traps for over 25's as well.
The key question I had to ask over and over and over was:
1. How much is my car insured for?
Sounds easy doesn't it? But I got "market value" as an answer. Ok so what's "market value" today? I asked. Cough Cough and a pause - "errr - the import guy isn't here at the moment...."
What a load of ••••• I persisted and persisted and finally got to the key " our policy is to replace out of pocket expenses" i.e. - what it says on the registration transfer form as declared value. "market value" is such an airy fairy thing to say.
It wasn't an "agreed value".
Other thing was if the car was damaged then "two quotes at our approved repairer" and "we choose who fixes it". I had no choice in repairer.
And when I ring up I get some 17 old girl asking me stock questions.
As an example my beautiful Celsior cost me $7500 out of pocket expenses. Just Cars and Torque gave me the $950 quote, car insured for $7500 and that's all folks and if it's damaged then we choose who fixes it.
I hate to sound like an Ad but Shannon's gave me $750 a year premium for my Soarer, $20 000 grand if I write it off, monthly repayments, I choose Rolls Royce White Glove Love to repair the car if anything go wrong and when I ring up I get an enthusiast who chats to me about Phillip Island etc. The $63 odd dollar monthly debit to the credit card is so much more handy then scraping together the $950 lump sum for the other bastards.
So Shannon's for me and the other wankers can go get ••••••• And my Nissan turbo is also insured with them so I get a second car discount. So easy peasy.
So make sure you ask them what you car is insured for if the worst happens and what they use to determine the value. Ask them if they need paperwork from you, receipts, what sort of proof to determine the value. Try to find out an exact dollar value if the car met it's end today. It can be a very drawn out process. If you paid $30 000 grand couple of years ago then I bet it goes on today's value and that is hard to get. If we can't find out what the value is then how do we compare the value? When they say "market value" on the insurance form then they determine it on the day. |
Dan McColl
TryHard
Victoria
UZZ32 V8 Soarer #183
Posts: 185
Reg: 07-2005
|
I think, really, you should value your car at what it would cost to replace it with a comparable vehicle, Kms, features etc. No use if you got a bargain to insure your car for say 10000 if it would cost you 13000 to get another one of similar spec. |
Peter Nitschke
Junk Filterer
South Australia
GT4.0 V8
Posts: 1958
Reg: 11-2004
|
Another tip. Ask your favourite crash repairer who he prefers to work with. A lot of insurance companies screw the repairers quite badly, so they lose incentive to do a really good job. They also get told to make do with s/h parts more than might be a good thing.
The guy that did my work listed a handful of insurance companies that he point blank refused to do work for. |
Phil Gibson
Tinkerer
WA
'94 black/black UZZ31
Posts: 99
Reg: 07-2005
|
Another vote for Shannons here 
If youre under 25 you will have a $600 excess *on top of* the normal one though |
Thomas Mulraney
TryHard
South Australia
JZZ30 TT
Posts: 128
Reg: 07-2005
|
How about Famous Car Insurance? I don't have any personal experience with them but apparently they're reasonably good with import drivers who are 21 or older plus you can pay monthly, etc. |
John Street
Tinkerer
NSW
V8 UZZ31 Limited
Posts: 18
Reg: 08-2005
|
Check out where the underwriting company for Famous is incorporated, it is overseas on an island somewhere . i'm not sure why, but this is apparently not good |
Brad Elphinstone
TryHard
NSW
JZZ30 GT-T
Posts: 213
Reg: 07-2005
|
I just fished my old comments out of the ALSC archives.....
My girlfriend insured her current car with Famous and presented them with proof of her 60% max no claim bonus with her previous insurer. Without informing her, she now only has 30% NCB because her last car was a joint policy with her parents. If she leaves Famous now, she is stuck with 30% NCB for her next insurer, and CTP prices are also increased now. |
Thomas Mulraney
TryHard
South Australia
JZZ30 TT
Posts: 129
Reg: 07-2005
|
hmmm, disregard Famous then it sounds like, sorry guys just remember someone suggesting it to me when I first got my car but I was under 21 so no go. |
Adam Lonergan
TryHard
Victoria
UZZ32
Posts: 178
Reg: 08-2005
|
Just got some quotes for my $16k 32, 26yo male driver, rating 1, no fines/theft/fraud/etc, comprehensive car insurance history for 3 years. Unique Cars, Just Cars & Shannons were competitive (Unique and Shannons both offer choice of repairer) ~$1k. Rang Suncorp Metway (these guys have CHEAP house and contents insurance) and they quoted $16.5k per year. The woman on the phone just laughed and told me that they obviously don't want to insure this car.
On a side issue, after having a long chat with the guy from Shannons, he said that currently the whole salvage rights (right of refusal) issue is in the air for all cars (both sides of the 15yo distinction) due to Shannons loosing a recent legal battle. If you have a policy from Shannons I would suggest you confirm the salvage rights details of your contract if this interests you. |
Ken Packer
Tinkerer
Queensland
TT
Posts: 48
Reg: 07-2005
|
$16.5K = $16,500.00 -for insurance ????
Do you mean $1.65K ( $1650.00)? |
Adam Lonergan
TryHard
Victoria
UZZ32
Posts: 179
Reg: 08-2005
|
Ken, $16.5k is correct. Possibly some kind of formula in the system. Just add $500 to the purchase price of the car. |
Perry Morgan
DieHard
Qld
UZZ32 ( V8 )
Posts: 667
Reg: 07-2005
|
Thats weird Adam. The previous owner of my 32 had it insured with suncorp. And I'm sure he wasn't paying that for it. I hope you told them to stick it where the SUNcorp don't shine lol. |
Mark Paddick
Goo Roo
ACT
Soarer UZZ31
Posts: 1162
Reg: 07-2005
|
I pay Shannons extra ($100) for salvage rights set in concrete...it's my f'ng car no matter what!..even if I'm pissed and write it off (not likely).
Insurance is $850 with agreed value of $30k |
Perry Morgan
DieHard
Qld
UZZ32 ( V8 )
Posts: 668
Reg: 07-2005
|
mines 15 years old now so my company does not want it. I get it just for the asking once it hit 15. |
Adam Lonergan
TryHard
Victoria
UZZ32
Posts: 180
Reg: 08-2005
|
Elders Victoria told me outright they don't insure imports, although they said I should try other state offices. I'm going to do some more research on salvage rights and rating protection with unique. Who insures your car Perry? |
Perry Morgan
DieHard
Qld
UZZ32 ( V8 )
Posts: 669
Reg: 07-2005
|
Torque underwriting Adam. Rating protection costs me $20 a year I think (not free) but thats ok because the rest of their policy reads well. Free windscreens and such. |
Brett Moloney
Tinkerer
Queensland
V8 uzz31
Posts: 65
Reg: 07-2005
|
My insurance is with Suncorp! $80 a month, $1000 excess, for market value? but im slightly over 25 |
Lew Radbourn
Trader
Queensland
jzz30 / uzz30/ uzz31 / uzs131
Posts: 402
Reg: 07-2005
|
Brett;
But you wouldn't think so.hehehehehehehe
Mate up date ya profile pic as well.hehehehehhe |
Brett Moloney
Tinkerer
Queensland
V8 uzz31
Posts: 66
Reg: 07-2005
|
Yeah right Lew. I must admit the car looks nuthin like the profile pic anymore! I'll wait for the front bar then take some more piccys |
Matt Creek
Tinkerer
Victoria
2.5GT-TL
Posts: 8
Reg: 08-2005
|
I'm with Unique Cars, only 22yrs, and have the TT. Pay $277 every 3 months, unlimited mods, and they insure your accessories and mods. My excess is about $1700 all up, but it's a lot cheaper than Shannons ($3800 premium) and Just Cars ($2400 premium) |
Braden Murdoch
Tinkerer
NSW
Cressida 1JZ TT
Posts: 8
Reg: 04-2006
|
*goes thread grave digging*
Check out Vigil, they do my 1JZ Cressida for $1337 a year, insured for $12k.
27yo, no previous at-fault accidents. |
Mark Ribbans
Tinkerer
SA
UZZ-031 V8
Posts: 36
Reg: 07-2005
|
My 2c I recommend EIG Ansvar |
Ken Cornell
TryHard
Western Australia
4.0GT V8 Soarer
Posts: 190
Reg: 01-2006
|
Just got a quote from Shannons, $990pa covered for $15000, stereo covered, free window each year, excess of approx$900. This is far better that Just Car who I am currently with; $890pa will only cover for $11500, stereo not covered, no free windows, excess approx$1600.
Will change over as soon as I can get hold of Just Cars!! |
Ken Cornell
TryHard
Western Australia
4.0GT V8 Soarer
Posts: 191
Reg: 01-2006
|
Also, this is cover as if I'm over 25 (will be in a couple of months). The stereo is covered second-hand replacement(Approx $3000 cover, cost $10000 new), wich is still a lot better than nothing!! |
David Vaughan
Goo Roo
ACT
V8 manual
Posts: 2007
Reg: 07-2005
|
A couple of curious things when renewing my Soarer insurance. Shannons wanted to take away some of my NCB owing to that woman who created an accident in a car park then ran off interstate last year (I mentioned it here). This meant the premium rose from less than $800 to $1000 so I checked the local Elders. They were willing to insure it for $800 (still max NCB) for market value coverage and also to let the 20-year-old drive it, which Shannons would not. Their idea of market value (1994 GT-L) based on Glass is $20,000 as a trade-in and over $30,000 off a dealer lot. I was happy with $20k and you can get an agreed value if you want it.
Elders accepted the Unichip and exhaust mods and quibbled about the manual gearbox conversion as a third performance-enhancing feature. I showed them that there was no gain on the dyno, but even if they were to treat it as a third significant modification, the effect is to raise the excess from $400 to $1,000 rather than to deny me insurance. So, if they will talk to you, compare them with Shannons and others. The Soarer V8 is identified in their system as a "Toyota Soarer SC400" and does not appear under Lexus.
While I was at it, I enquired about the cost for the IS300, although it does not come up for renewal until later this year. The answer was over 60% more expensive than NRMA Insurance  .
We are using three companies for the four cars in the family, having also switched the Cit from AAMI to IAG (NRMA) this week because they were cheaper where No. 1 son was named as the usual driver. IAG were over 6% cheaper through their web site than over the phone.
My answer to the perennial insurance question is that you really have little choice but put in the effort to shop around, based on your individual circumstances (age, location, driving record) and your vehicle. There is no "this one is usually best" answer even though we can suggest some good places to start. Further, it can be worth doing it all again, every year.
The alternative where you have more than one car in the family is to align their insurance dates and see if you can buy a package. It will save a bit but was not worth it for me on two cars (with Shannons) and I have not yet tried it with all of them included. |
Andreas Niaouris
TryHard
W.A.
V8 Limited
Posts: 255
Reg: 07-2005
|
A good Post David, cheers |
David Vaughan
Goo Roo
ACT
V8 manual
Posts: 2009
Reg: 07-2005
|
Wildly ecstatic Tim  although perhaps we should take account of the fact that I signed up only today and it does not take effect until Saturday, and I have not hit anything yet. All insurance companies are perfect until you break something  |
Peter Nitschke
Junk Filterer
South Australia
GT4.0 V8
Posts: 4690
Reg: 11-2004
|
It doesn't hurt to talk to crash repairers about insurance companies either. It's not always a bonus to save $100/year then find the insurance company screws crash repairers so hard that good ones won't do work for them. |
Simon Triantafillou
DieHard
NSW
Soarer Turbo
Posts: 708
Reg: 07-2005
|
Hot dang... First impression of Elders is great. Looking for insurance for my latest purchase, and they were a solid $400 cheaper ($7xx compared to $11xx). Will delve deeper and see how it goes. |
Geordie Smith
Tinkerer
NSW
2x V8 GT Soarers His & Hers, awww 
Posts: 14
Reg: 12-2005
|
Definately Shannons!!
I insured Soarer number 1 with them, agreed value straight up, no hassles.
My wife ended up writing the car off on an oil slick a year or so later and shannons simply just coughed up the money and we went and bought soarer #2.
Shannons insured #2 for the same value, same policy, etc. No problem.
Cost to insure a soarer for the high teens $$ is around $60 a month. You really cannot complain about that!
I also built a pretty hardcore semi/race car a few years ago, and rang shannons up, emailed them photos, and they insured it for the value I asked them to. Thankfully, Nothing bad happened with that car, but when i sold it I rang them and they popped the refund into my bank account straight away.
Shannons are a damn good insurance company for enthusiasts like us. |
Graham Dollisson
DieHard
QLD
GTTL Morris Marina P76
Posts: 832
Reg: 07-2005
|
I'll second that!! |
David Vaughan
Goo Roo
ACT
V8 Ltd manual
Posts: 2343
Reg: 07-2005
|
In keeping with my post above, I have started checking insurance for the IS300 which comes due in September. Not all options checked yet but already I can save 15% (and with a higher car value) compared with NRMA's renewal offer by using a firm which was no cheaper last year. Shannons cost over 25% more. Elders and Allianz are the other two I plan to check.
It really does vary by car, driver, where you live, what year it is and how they are acting competitively. I may have neglected to mention the weather. |
Geordie Smith
Tinkerer
NSW
2x V8 GT Soarers His & Hers, awww
Posts: 17
Reg: 12-2005
|
I've found it makes a big difference who you get on the phone at shannons. What mood they're in, etc.. Unfortunately.
It depends a lot on your approach too.
I reckon the best time to call is just after lunch, they have their serotonin and blood sugar levels nice and high and youre bound to get someone in a good mood. Heheh.
As for approach, The best results i've had with them is when you say something like "Hi there, I have a car that is very special to me, and although I don't drive it very often *cough cough* I need to have it insured, and my friends at the car club recommended that I call you guys for the best deal on my insurance *cough bl$ht cough*"
That tends to get you a better response than "hey man wassup, *scratch nuts & spit* I got dis fulsik lexus man and I ned sum insurance bro coz I prangd my last 7 skylines and just cars won't insure me again, wot can u do 4me?" |
Don Bagnall
Moderator
New Zealand
I have WAY less Soarers than Hayden :-(
Posts: 4570
Reg: 05-2005
|
Geordie Smith wrote on Tuesday, August 29, 2006 - 09:10 am:"hey man wassup, *scratch nuts & spit* I got dis fulsik lexus man and I ned sum insurance bro coz I prangd my last 7 skylines and just cars won't insure me again, wot can u do 4me?"
 |
David Vaughan
Goo Roo
ACT
V8 Ltd manual
Posts: 2344
Reg: 07-2005
|
You are right, Geordie, I should remember not to say that. |
Cihan Aday
Goo Roo
Its stock i swear.
JZZ30
Posts: 1279
Reg: 07-2005
|
Good call Geordie 
Might have to try the *first* approach some day! |
Justin Hughes
DieHard
VIC
TT
Posts: 783
Reg: 07-2005
|
Geordie Smith wrote on Tuesday, August 29, 2006 - 09:10 am:I got dis fulsik lexus man and I ned sum insurance bro coz I prangd my last 7 skylines and just cars won't insure me again, wot can u do 4me?"
Hahahahahahaaaaaaaaaa  that's a pissser.
Being a CAMS Licence holder AND a member of Phillip Island Auto Racing Club I got Full Comp with Shannon's for $870.00 per Year at $15,000 agreed value.
That's with FMIC, Turbo Timer, Boost Controller, Polished Alloy Piping, Dumps, Custom Exhaust, BodyKit, Stereo, Mags blah blah blah AND pay by the month as well  |
Nicholas Randall
Newbie
VIC
UZ31
Posts: 1
Reg: 08-2006
|
Shannons works well for me, agreed value of $35,000 on my stock [pristine] 961/2 [1997] V8. They just looked over the car for 5 minutes and said no problem! Monthly payment is a handy feature and with a rating 1 they are as cheap as my wife's Ford Focus.....
Nicholas
Torquay |
Ashley Leach
TryHard
South Australia
UZZ31 V8 GT Limited
Posts: 225
Reg: 02-2006
|
Daniel Calleja wrote on Tuesday, October 11, 2005 - 10:10 pm:That's on top of the standard $450 standard excess and the +$400 under 22 yo'd driver.
ha, that's nothing my excess is like $1500 for theft plus $400 for wheels.
It's totally dum but at under $850 a year for an under 25 male driver... well who am I to complain? |
Andrew Hargreaves
Tinkerer
NSW
2.5 TT
Posts: 96
Reg: 11-2006
|
I went with Just Car Insurance because all other companies went running away.
Got 3rd party *(cost $705) fire and theft covered for $10 000. Excess is 1600 or there abouts. Comprehensive was $5000+ for a stock car and a clean driving record and kept in a "low risk" area |
Ashley Leach
DieHard
South Australia
GT Limited UZZ31 V8
Posts: 824
Reg: 02-2006
|
I guess the V8's are cheaper to insure. |
Paul Heginbotham
Tinkerer
Queensland
2.5 TT
Posts: 19
Reg: 10-2007
|
I got comprehensive insurance with 60% no claim bonus (or rating 1) over 25 drivers, named drivers at a cost of just over $1000.00 through a broker with Suncorp.
I tried Just cars but they were slightly dearer. |
Mike Triggs
DieHard
Western Australia
3.0GT G-Pack
Posts: 985
Reg: 07-2005
|
I had a surprising runaround for insurance for our Soarer considering both drivers over 50 and it's a 3.0 n/a. Shannons wouldn't come to the party because our new (employer supplied) house doesn't have a garage. Suncorp wanted $4500 p/a.
Ended up going with Elders in Carnarvon for $810 annual, payable monthly with $250 excess. |
Matthew Sharpe
Goo Roo
North Island
JZZ31
Posts: 3172
Reg: 10-2005
|
Ouch, thats a lot more than I pay for the same model car, same excess, only off street parking, and I'm only 32. |
Joe Radisic
TryHard
WA
2JZ GTE
Posts: 500
Reg: 10-2006
|
Mike try Torque talk to Steve. 1300369769 Let him know I referred you |
Brett Cutts
Newbie
south australia
v8
Posts: 1
Reg: 07-2008
|
Hi guys, I am a new member just starting to go thru some threads, but this is one I had to post to.
I now have 7 cars thru Shannons (everything from a restored 1927 tourer to a 1994 Fairlane Sportsman, (and now my Soarer V8) and have never had any complaints and have usually found their premiums comparable to, and sometimes cheaper than a lot of other companies.
I have now had 2 claims with them.
The first when a truck driver changed lanes into the side of my other half's Verada on West Terrace.
The claim was handled quickly and the panel beater I used told me that in 30 years it's the first time an assessor has added to his labour quote AND parts quote, as a couple of items he wanted replaced were not repaired.
I even had a follow up call from Shannons 2 months later to make sure I was 100% happy with the repairs.
The second claim when my trusty v8 Falcon van tow car was stolen and never seen again (apparently some Bunnings branches loose up to 3 cars a day from their car parks yikes!!!!),this was handled just as fast and just as well.
I am a mechanic and have owned a lot of cars since I started driving (try being 18 and getting insurance on a XB GT Falcon coupe),and have had dealings with a lot of insurance companies both with work and privately.
Shannons is the best I have ever dealt with.
(Maybe I should send them a copy of this and try and get a discount hehehe)
Edit by Moderator: There, that's easier to read  |
Tim Ross
TryHard
Qld
V8 - http://unique-rides.net
Posts: 166
Reg: 09-2007
|
Another one to try is Dawes Underwriting.
Car need to be garaged though.
I have a shocking traffic record from a few years ago, which I disclosed to them, and they were fine with it.
Pay by the month is available too... pretty well priced as well... and claims process is quite quick, you get your own choice of repairer too! |
Dylan O'Connor
Tinkerer
QLD
V8 SC400 4.0GT-L
Posts: 12
Reg: 08-2008
|
Problem with Shannon's is you need to be 25 or older.
Just Car insure me for about 1k |
Adam Lonergan
DieHard
Victoria
UZZ32 #369 (V8)
Posts: 851
Reg: 08-2005
|
For everybody's information YOUI insurance just told me on the phone they don't insure imports (at least not at the moment). |
Alan Schulte
Tinkerer
QLD
Manual
Posts: 20
Reg: 07-2009
|
Looks like Elders or shannons it is, i have off street parking so will be interesting in what they have to say,
i am with AAMI at the moment and they want more then an arm and a leg, i think "left testicle" was mentioned when i asked about a soarer, shame they didn't say 'right', "never liked that one much anyway"  |
Earl Digby
Tinkerer
WA
1995 GT-L 4.0 V8  
Posts: 86
Reg: 02-2007
|
I originally insured my Soarer with the old Tourque Insurance - which was since changed to Lumley Special Vehicles [LSV]. They were great. Last three years no issues. Even allowed a 6 month premium at exactly half the annual premium. Comprehensive for agreed sum of $12.5k single driver. Annual premium was $600. About $250 excess.
Just got my renewal. $920 per annum! $400 excess. All new info showing up on my policy. New policy number. No explanation no new PDS. I phoned LSV [now owned by Wesfarmers]. Seems they have migrated all old LSV policy info. Dealt with very rudely and arrogantly by rep. Basically told to like it or lump it! Not even taking into account the no claim bonus. No offer to assist with lowering the premium. I have sent a complaint.
Policy premium up by 50% 
So... who is the best to insure with? Shannons or Just for cars? |
Mark Ribbans
TryHard
SA
UZZ-031 V8, 1972 Mazda RX2 Coupe, TE Gemmy
Posts: 409
Reg: 07-2005
|
Try EIG Ansvar.. |
Michael Hames
Newbie
QLD
SC300 GT-T, manual
Posts: 5
Reg: 07-2006
|
I recently insured with NRMA [I live in Qld] with an agreed value of $20k for a '97 GTT, excess is $600 and policy is $1,620 annually inc glass replacement and hire car |
Adam Lonergan
Goo Roo
Victoria
UZZ32 #369 (V8)
Posts: 1091
Reg: 08-2005
|
Earl, I just went through the same thing with Lumley (LSV). Premium nearly doubled, agreed value dropped by ~40% and the removal of salvage rights in the case of a write-off. To make matters worse I recently moved house to a safer area and when I notified them they didn't seem to care, whereas my wife's insurance company refunded her a few hundred dollars within a week.
Certainly will not be dealing with them again (am a Wesfarmers shareholder too).
I did the ring around and Shannons were able to all but match my old LSV without too much arm twisting. If you are going to shop around I recommend you starting all enquiries with 'Do you insure imports?'... it will have you having to repeat yourself too often. |
Nathan Machin
TryHard
QLD
SC300
Posts: 447
Reg: 06-2009
|
Shannons Insurance - Full Comp insurance for my beasty $39 per month, $300 excess |
Mike Triggs
Goo Roo
Western NSW
3.0GT G-Pack
Posts: 1477
Reg: 07-2005
|
I couldn't go for Shannon's as didn't have a garage at the time. Got our insurance through Elders, ~$33/month excess $250. No change moving to NSW, although we were stung with Contents insurance at Exmouth as "above the 26th parallel". |
Earl Digby
Tinkerer
WA
1995 GT-L 4.0 V8
Posts: 87
Reg: 02-2007
|
I have just got a quote from Shannons. OMG OMG! They are so cheap and so easy to deal with! My earlier post reported how my LSV Policy annual premium was previously $600 and $250 excess [65% Lifetime NCB]; and how my renewal was $920 per annum & $400 excess! That was for $13.5k agreed value.
Well Shannons quoted me $420 for $15k agreed value, $300 excess [lifetime NCB protection] and good news Mike Triggs, 'parked in driveway inside property' was acceptable . Shannons even do home contents [which I am presently renewing]. RACWA was $520 and Shannons under $350 for the same amount insured! They don't advertise Home Insurance but have it as a special thing for those in the Shannons fold. Above all the phone rep was very, very helpful and a genuine car enthusiast as well! Well done Shannons!
Click to visit SHANNONS-INSURANCE online or Tel: 134646 |
Mike Triggs
Goo Roo
Western NSW
3.0GT G-Pack
Posts: 1478
Reg: 07-2005
|
Well down, Earl I talked to RAC-WA (actually, it's just RAC, RACWA is the Royal Aero Club of WA!) and they said they didn't insure "imports". The initial contact I had with Shannons seemed quite adamant that a garage had to be involved, which the work house didn't have. We have one now, but I doubt the Soarer would fit in it (better suited to a Mini).
Shannons ads annoy me- the one where they say "we insure your daily drive, the car you drive every day". Duh, do they think everyone is stupid? Elders came good when I needed insurance so I'll stick with them. |
Mark Creaser
Newbie
SA
Aristo & TT Soarer
Posts: 2
Reg: 05-2010
|
Just got a quote from Shannons - on the Aristo it worked out to $1000 a year even, agreed value $15k (which I'm going to bump up before I confirm), and $864 a year on the Soarer @ value $5000! They said this was due to the Soarer being a higher risk category vehicle, although both me and my other half are under 25 so that might have something to do with it too. Any thoughts? I'm paying just over $1000 on the Aristo through Just Cars at the moment so I'll switch that over for sure as Shannons are just better to deal with. |
Ali Saeed
Goo Roo
WA
UZZ31
Posts: 2252
Reg: 09-2007
|
agreed value on the soarer seems a bit low imo. im with just car, 1500 a year for under 21 year old agreed value of 9500. should come down to well under 1k when im over 25 |
Lucas Waterworth
Tinkerer
north island, nz
2.5tt auto
Posts: 52
Reg: 03-2010
|
as a 19 year old male wit a TT, I worked out that if I go with the "drive carefully and don't rear end a merc" company, I will save the value of my car in three years over full cover.
I will have to do some ringing around, and get third party, fire and theft, because it will soon be a legal requirement in nz to have insurance, I believe. |
Matthew Sharpe
Goo Roo
North Island
JZZ31
Posts: 5519
Reg: 10-2005
|
You are crazy if you don't have at least third party. The "Drive carefully" policy can ruin your life - regardless of how careful you are, you are still only human and can make mistakes. |
Darren Bauer
Tinkerer
Victoria
Soarer TT
Posts: 23
Reg: 04-2010
|
You gotta have third party. The Merc theory is not a good one to live by. Third party fire & theft should be affordable for anyone? |
Aiden Cheese
DieHard
QLD
Soarer jzz30
Posts: 563
Reg: 09-2009
|
Lucas Waterworth wrote on Friday, May 14, 2010 - 05:59 pm:I worked out that if I go with the "drive carefully and don't rear end a merc
Holy balls you're arrogant.
You've been driving for what? 2 years now? You've got a total of what, like 30 000kms under your belt?
Your argument is based on "Everyone who gets into an accident just wasn't driving carefully". That's a pretty amazingly bold statement. |
Dan McColl
Goo Roo
Victoria (The Nazi State)
Active V8 and the Beast.
Posts: 2644
Reg: 07-2005
|
Enjoy spending the REST OF YOUR LIFE paying off that Ferrari you hit.
Which also has the implications that you end up with very little chance of ever getting anywhere in life because you will be paying off someone else's car. |
Spencer Cameron
TryHard
NSW
JZZ30 (converted Manual)
Posts: 172
Reg: 04-2008
|
How the hell are you going to run into a Ferrari..?
"Oh, whoops, I somehow didn't notice that ridiculously ostentatious ego mobile that everyone is staring at.."
Seriously, if you run into someone and it is your fault, then it is absolutely, undeniably a result of your inability to take due care so.. "Drive carefully" sounds about right to me. |
Matthew Sharpe
Goo Roo
North Island
JZZ31
Posts: 5602
Reg: 10-2005
|
Really?
Scenario - sharp piece of steel on road you don't notice causing a tyre blow out at 100km/h, you swerve into another lane damaging said Ferrari you had just been admiring. Result - your fault, you will be liable for repairs to the Ferrari.
Scenario - Animal leaps in front of you while cornering damaging your steering and causing you to hit a power poll, totally destroying it and the power cables it supported. Result - your fault - you will be liable for replacing the power poll.
You can drive as carefully as you like - •••• happens - often its out of your control but still technically your fault, and sometimes people just make mistakes even when driving carefully.
For $10 a month or whatever 3rd party is these days, you are batshit crazy if you don't have it.
Full comp is well worth it too. I got a chip in my windscreen last week - nothing huge, but they took a look at the screen and said "it looks like its never been replaced, lots of little pits and water etchings - we could fix the chip, but would you rather have a new screen?"
Hell yes I would! New screen going in on Monday. |
Spencer Cameron
TryHard
NSW
JZZ30 (converted Manual)
Posts: 173
Reg: 04-2008
|
haha, ok.
For your first scenario i'd have to say that if your sitting next to a Ferrari admiring it (and not watching the road) and "don't notice" a piece of steel substantial enough to take out a tyre (that's on the road your supposed to be watching) then then that qualifies as your fault.
Second scenario. If you hit any animal hard enough to damage your car its going to leave evidence (blood, said damage, etc.). If you then hit a pole hard enough to destroy it the cost of the repairs are going to be the least of your concerns. If you hit something else as a result of the animal you can always argue that in court (legitimately).
And for the record, I'm not arguing that insurance is a waste of money or anything. I'm just tired of driving on roads filled with •••• wits who are either completely incompetent or simple believe that "Its ok if I •••• up, because I'm insured!". |
Mike Triggs
Goo Roo
Western NSW
3.0GT G-Pack
Posts: 1491
Reg: 07-2005
|
Spencer Cameron wrote on Friday, June 18, 2010 - 07:48 am:And for the record, I'm not arguing that insurance is a waste of money or anything. I'm just tired of driving on roads filled with •••• wits who are either completely incompetent or simple believe that "Its ok if I •••• up, because I'm insured!".
For the record, I'm fully insured, both cars, and drive carefully with the view to avoiding accidents, and indeed, any small dings (Or big ones- I wiped out around two dozen kangaroos in my 28 months in Exmouth). Quite aside from the inconvenience of having the car fixed, there's the not-so-small matter of excess and No-Claim Bonus. My last big roo hit cost me $500 and no small amount of time and inconvenience. It was a "no- fault" claim so no effect on NCB, but I'd still rather have that $500 in my pocket. Had it have been an "at fault" claim the effect on NCB would last years and cost over $1000. Luckily my other roo hits were on govt lease vehicles and they have different insurance- no cost to me, but still a lot of inconvenience, not to mention form-filling-out. |
David Vaughan
Goo Roo
Relaxed
IS300
Posts: 4950
Reg: 07-2005
|
I doubt anyone ••••• up because they are insured. The problem with not insuring is that it is principally a luxury of the rich. There are scenarios in which you will be massively out of pocket whether or not you believe you are being careful, and if you do not have a high income that can cripple you for quite a while. At 19 with a TT, Lucas will "be careful". |
Peter Nitschke
Junk Filterer
South Australia
UZZ30 UZZ31
Posts: 11649
Reg: 11-2004
|
Lucas Waterworth wrote on Friday, May 14, 2010 - 05:59 pm: I will have to do some ringing around, and get third party, fire and theft, because it will soon be a legal requirement in nz to have insurance, I believe.
How many of you guys actually read his post properly? |
Andrew Duaso
DieHard
Victoria
G6E turbo 360kw at the engine tune only
Posts: 638
Reg: 02-2009
|
Forget hitting another car
What happens when you try to drift the round a bout lose it and take out the bus stop and break the legs of the school kids waiting
That's why insurance covers public liability 20-30 million in most cases..
Or scenario 2 your American passenger steps out of the car and slips over on the oil slick left by your leaky ps.... Sue you arse Lol |
David Vaughan
Goo Roo
Relaxed
IS300
Posts: 4952
Reg: 07-2005
|
I did.
quote: I worked out that if I go with the "drive carefully and don't rear end a merc" company, I will save the value of my car in three years over full cover.
I will have to do some ringing around, and get third party, fire and theft, because it will soon be a legal requirement in nz to have insurance, I believe.
"Third party" often covers only injury unless you specifically include property, and the line I quoted implies property is not part of what he might want to obtain. |
Lucas Waterworth
Tinkerer
north island, nz
2.5tt auto
Posts: 93
Reg: 03-2010
|
relax, I have done the ringing around, and I have third party only insurance now.
350/yr including glass cover and innocent party protection, with a $1600 excess, from click car insurance. everyone else I have talked to has quoted around the $500 mark with similar excesses.
what surprised me was that despite being named as a primary driver for two years, with only glass claims in that period, the major companies wouldnt touch me.
if you are getting third party cover, I would recommend asking about innocent party protection, it means I will get paid by the insurance company up to 3k, and they will recover costs, in an accident where I am not at fault.
Aiden Cheese wrote on Wednesday, June 16, 2010 - 02:31 pm:Holy balls you're arrogant.
You've been driving for what? 2 years now? You've got a total of what, like 30 000kms under your belt?
Your argument is based on "Everyone who gets into an accident just wasn't driving carefully". That's a pretty amazingly bold statement.
my argument was I am not forking out for something ridiculously expensive, and that I will get insurance when I have the time to find someone who won't charge the earth.
and it is three years, and about 70,000km by now, I put 50,000km on my old mazda alone. |
Boris Siljanoski
DieHard
Western Australia
Soarer GZ20 TT
Posts: 992
Reg: 11-2007
|
Hi,
Let's say you get third Party, and you don't have Innocent party protection. Will you're insurance still go after the other person if they are at fault.
Or is Innocent Party protection a set amount (3k or so), that YOUR insurance company will pay you if you're not at fault....
But let's say without Innocent Party Protection, would they still go after the person at fault the other guy if the damages are like 7k, 10k etc e.g your car is written off.
Thanks. |
Peter Nitschke
Junk Filterer
South Australia
UZZ30 UZZ31
Posts: 11651
Reg: 11-2004
|
David Vaughan wrote on Friday, June 18, 2010 - 01:38 pm:"Third party" often covers only injury unless you specifically include property, and the line I quoted implies property is not part of what he might want to obtain.
Do you even believe that yourself? 
Third party often covers only property unless you specifically mention "bodily". That he was also looking for fire and theft would imply that property is part of what he wanted to obtain. Or maybe he wanted cover against fire and theft of bodies?
Though I guess it is possible that you could buy fire and theft cover along with third party bodily injury without getting third party property. Which insurance company do you use?
|
Matthew Sharpe
Goo Roo
North Island
JZZ31
Posts: 5607
Reg: 10-2005
|
Spencer Cameron wrote on Friday, June 18, 2010 - 07:48 am:Second scenario. If you hit any animal hard enough to damage your car its going to leave evidence (blood, said damage, etc.). If you then hit a pole hard enough to destroy it the cost of the repairs are going to be the least of your concerns. If you hit something else as a result of the animal you can always argue that in court (legitimately).
Doesn't matter, your car hit the power poll, its still your fault regardless of the evidence that an animal hit your car. They don't care what caused you to lose control, you lost control, therefore you are to blame.
As for it being the least of your worries, my Dad hit a power poll in his 1988 Toyota Corona when another driver forced him off the road (according to him - no witnesses, other driver didn't stop). Result, power poll destroyed, car written off, Dad fortunately walked away with just a few bruses, and a $4000 repair bill arrived from the lines company a couple of months later.
Spencer Cameron wrote on Friday, June 18, 2010 - 07:48 am:For your first scenario i'd have to say that if your sitting next to a Ferrari admiring it (and not watching the road) and "don't notice" a piece of steel substantial enough to take out a tyre (that's on the road your supposed to be watching) then then that qualifies as your fault.
Again, this was taken from a real life incident where I had a tyre blow out at speed. The piece of metal was a 4" rusty screw that peirced my sidewall somehow. It was twilight and I had not a snowballs chance in hell of seing it. Fortunately in this case I was able to stop the car with no damage other than a ruined tyre. If other cars had been around me at the time it might have been different.
My point is, there is often no way you can avoid something that will end up being blamed on you - thats when you need deep pockets, or insurance.
Spencer Cameron wrote on Friday, June 18, 2010 - 07:48 am: simple believe that "Its ok if I •••• up, because I'm insured!".
I'm sick of idiots with no insurance running into me and then having to wait months and months for my $250 excess to get back to me while my insurance company chases them with legal threats! Ok, its only happened 3 times in the 20 years I've been driving, but still, thats three times I've been out of pocket for several months.
Lucas Waterworth wrote on Friday, June 18, 2010 - 05:39 pm:relax, I have done the ringing around, and I have third party only insurance now.
Cool! |
David Grima
TryHard
WA
1JZ-GTE TT
Posts: 458
Reg: 07-2007
|
Earl Digby,Wednesday, February 17, 2010 - 01:38 pm,I originally insured my Soarer with the old Tourque Insurance - which was since changed to Lumley Special Vehicles [LSV]. They were great. Last three years no issues. Even allowed a 6 month premium at exactly half the annual premium. Comprehensive for agreed sum of $12.5k single driver. Annual premium was $600. About $250 excess.
Just got my renewal. $920 per annum! $400 excess. All new info showing up on my policy. New policy number. No explanation no new PDS. I phoned LSV [now owned by Wesfarmers]. Seems they have migrated all old LSV policy info. Dealt with very rudely and arrogantly by rep. Basically told to like it or lump it! Not even taking into account the no claim bonus. No offer to assist with lowering the premium. I have sent a complaint.
Policy premium up by 50%
Earl I am in the exact same situation even down to the agreed value to how you were with LSV. At the moment I paid my insurance with them earlier for this year but after reading this will be joining SHANNONS for sure when its time for my renewal. At the moment my cars agreed value has dropped from 13k to 12.3k and premium rose to the amount you mentioned above. I agree Torque Insurance was very good when I first bought my soarer until this LSV took over. |
Matthew Sharpe
Goo Roo
North Island
JZZ31
Posts: 5612
Reg: 10-2005
|
Hmm, soon as I hit 30 I found insurance was cheap and easy to get, and people kept trying to get me to change over to them with better and better quotes.
Of course I've never owned a turbo - I think most insurance companies see the word "turbo" and freak out just from ignorance. |
Dan McColl
Goo Roo
Victoria (The Nazi State)
Active V8 and the Beast.
Posts: 2648
Reg: 07-2005
|
Seems to be some mis-understanding from some people, so my 1.7c. I believe there is another insurance thread that goes into all of this somewhere as well.
*CTP (compulsory third party) insurance, YOU MUST HAVE THIS, NO QUESTIONS ASKED. also known as 3d party personal insurance. This is mandatory. Some states include this in your rego, others give you the option of shopping around.
This only covers any personal injuries you might cause, if you injure the driver of another car, or a pedestrian, this will cover their personal injuries only. This does not cover any property damage at all (cars, houses, fences,power poles etc).
*3rd party property insurance. YOU ARE AN IDIOT IF YOU DON'T AT LEAST HAVE THIS AS WELL This covers damage to other peoples property that you might cause. If you hit said power pole, or ferrari, it will cover the damage to the other property, it will not cover your own car.
Some 3rd party property insurances will give you a token gesture ($3-5k usually) in the event that your car is hit by an un-insured driver AND that you can identify the driver to the insurance company.
Fire and Theft cover is an add on to 3rd party property insurance. This will basically cover you (again usually only up to $5k) if your car gets burnt or gets stolen.
*Comprehensive Insurance This insurance is optional, and you can do your own cost/benefit analysis on it will also cover your own car. You can get agreed value or market value cover on it. Hence if your covered for $15k and your car gets stolen, you will get $15k (less excesses) back from the insurance co.
This will also cover you for damage you do to your own car, such as crashing when you try and teach yourself drifting on a public road or said accident involving a puncture and power pole.
The biggest advantage of full comp is that when some stupid un-insured twot (yes it happened to me) crashes into your car, your insurance will pay out/repair your car and they will do the leg work and bear the cost of recovering the money.
This also means that you don't end up with some asshole bogan bum coming to a deal to pay you $10 per week for 38.46 years, meanwhile you're out of pocket $15/20/50k.
This is information to the best of my knowledge, but you should do your own research when looking for insurance and VERY CAREFULLY read the PDS (product disclosure statement) (basically the terms and conditions) provided by the insurance company.
The cheapest is not necessarily the best as they might have a lot less benefits or a lot of 'outs' in their policy. |
Dan McColl
Goo Roo
Victoria (The Nazi State)
Active V8 and the Beast.
Posts: 2650
Reg: 07-2005
|
Boris Siljanoski wrote on Friday, June 18, 2010 - 08:04 pm:Let's say you get third Party, and you don't have Innocent party protection. Will you're insurance still go after the other person if they are at fault.
Or is Innocent Party protection a set amount (3k or so), that YOUR insurance company will pay you if you're not at fault....
But let's say without Innocent Party Protection, would they still go after the person at fault the other guy if the damages are like 7k, 10k etc e.g your car is written off.
No they wouldn't. Why not?? Because there's nothing in it for them. If they have the innocent party thing then they will, but only to cover their costs (ie. the 3k they pay out to you.)
Yes
Ref above |
Dan McColl
Goo Roo
Victoria (The Nazi State)
Active V8 and the Beast.
Posts: 2651
Reg: 07-2005
|
Lucas Waterworth wrote on Friday, May 14, 2010 - 05:59 pm:I worked out that if I go with the "drive carefully and don't rear end a merc" company,
Going with that theory you might as well remove the seatbelts and airbags from your car for the weight and resulting petrol savings. You're obviously never going to need them.....
Spencer Cameron wrote on Thursday, June 17, 2010 - 10:23 pm:Seriously, if you run into someone and it is your fault, then it is absolutely, undeniably a result of your inability to take due care so.. "Drive carefully" sounds about right to me.
Absolutely it is your fault, that's why we have insurance, unless you are wealthy enough to cover any eventuality out of your own piggy bank.
I had an accident many years ago where some kid was out joyriding in his old mans hotted up gt4 celica. Long story short, he ran a red light at fairly substantial speed and wiped himself and me out. Both cars completely totalled written off. No witnesses except for his mate out joyriding with him.
Turns out his old man owned a fairly 'fancy' law firm in Melbourne and guess who ended up copping the blame for the crash. Not my fault but I paid out anyway. Yes I had insurance. |
Boris Siljanoski
Goo Roo
Western Australia
Soarer GZ20 TT
Posts: 1003
Reg: 11-2007
|
I see,
Do any insurance parties that offer third party have an option for any amount of innocent party protection, like as in they go after the person at fault and get them to payout whatever the quoted repair is for your car.
Or is the only way to get that is Full Comprehensive? |
Dan McColl
Goo Roo
Victoria (The Nazi State)
Active V8 and the Beast.
Posts: 2657
Reg: 07-2005
|
Full comp.
The innocent thing is only offered by some insurance co's and usually stipulated at market value or $3-5k whichever is lowest.
As far as I'm aware. |
Ali Saeed
Goo Roo
WA
UZZ31
Posts: 2514
Reg: 09-2007
|
Dan, how the hell do you pay up if he broke the red light? |
Boris Siljanoski
Goo Roo
Western Australia
Soarer GZ20 TT
Posts: 1004
Reg: 11-2007
|
Here is an online quote I got from Just car for third Party :
$337 Per annum.
Standard Excess $450
Plus Vehicle Excess $350
If applicable, you may also need to pay one or more of the following excesses in addition to the excesses listed above.
Age Excesses
• Female Drivers Aged 16 - 21 $400
• Female Drivers Aged 22 - 24 $300
• Male Drivers Aged 16 - 21 $650
• Male Drivers Aged 22 - 24 $600
So Standard Excess ($450) plus vehicle excess ($350), plus Age excess ($650), all up excess of $1450.
ALso you know how most insurance companies say you can list your mods as long as they are legal and roadworthy. How about most of us who have a Pod/Front mount combo (defectable), ride height too low. How are you meant to get insurance in that case and not have them void cover/payment when they inspect the car and see it's got too low, huge rims etc offset.
And things like fitting speakers that require cutting of the metal under the rear shelf. What about just cutting the wood on the actual shelf or getting a custom shelf made, wouldn't that be illegal too and void insurance.
|
Matthew Sharpe
Goo Roo
North Island
JZZ31
Posts: 5616
Reg: 10-2005
|
Ali Saeed wrote on Monday, June 21, 2010 - 02:41 am:Dan, how the hell do you pay up if he broke the red light?
Since his Dad was a lawyer, I'm guessing he lied through his teeth and his Daddy covered his arse, and neither of them had a shred of empathy or ethics (par for the course with at least 50% of lawyers) |
Boris Siljanoski
Goo Roo
Western Australia
Soarer GZ20 TT
Posts: 1005
Reg: 11-2007
|
Since there was no witnesses, for all we know he could have simply said "I didn't run a red and was not speeding". Then it will be down to his word against Dans, and his daddy being a lawyer would try to fabricate some sort of "evidence" or "story" to somehow get him out of trouble.
They may get away, but fortunately they end up punishing themselves when they plow through a thick wall, have to be cut out of the car and have a nurse help them do a •••• for the rest of their lives. |
Adam Lonergan
Goo Roo
Victoria
UZZ32 #369 (V8)
Posts: 1191
Reg: 08-2005
|
Boris Siljanoski wrote on Monday, June 21, 2010 - 03:59 am:So Standard Excess ($450) plus vehicle excess ($350), plus Age excess ($650), all up excess of $1450.
Plus a good chance your annual premiums will go up immediately and stay that way for at least another 5 years whenever you make a claim even if you are not at fault and can identify the at fault party and even if you change companies.
Considering it's $337 per year MAXIMUM if you don't use it and up to between $250,000 and $450,000 (PER PERSON) if you did have to use it (http://news.ninemsn.com.au/national/1029506/call-to-overhaul-accident-compo-in-qld) I think it's pretty cheap. |
Chris Lock
DieHard
sa
V8 Limited
Posts: 709
Reg: 03-2008
|
Hrmm.. Shannons won't give me salvage rights..
car has to be older than 35 years.. |
Aiden Cheese
DieHard
QLD
Soarer jzz30
Posts: 666
Reg: 09-2009
|
Chris Lock wrote on Wednesday, July 07, 2010 - 06:30 pm:Hrmm.. Shannons won't give me salvage rights..
Eh? What are you talking about?
Friend insured with shannons got to buy back his car after it was written off (repairable writeoff).
Unless you're confusing your ability to have access to the car after they basically "buy it off you" when they pay out your insurance?
You know that it's not your car after they do that right? They have the right then to try and make money off selling the wreck to a wrecking yard? Although you're given first dibs on buying it back at a reasonable price (usually say a payout is 8000 after excess is paid out, then they'll ask like 2300 for the wrecked car and its up to you to either repair or part out.)
Cars counted as classic may have different rules specifically with shannons. But the above applies generally to almost any insurance from my understanding and limited dealings with insurance.
Perhaps someone else can clarify on that. |
Darren Bauer
Tinkerer
Victoria
Soarer TT
Posts: 44
Reg: 04-2010
|
Lumley won't insure my car, they don't do imports anymore!
AAMI wouldnt touch me either after being with them for 10+ years.
Just went through the Shannon's process, its pretty long-winded but worth it in the end, I think? |
Darren Bauer
Tinkerer
Victoria
Soarer TT
Posts: 45
Reg: 04-2010
|
Don't bother with Bingle or Youi either. |
Darren Bauer
Tinkerer
Victoria
Soarer TT
Posts: 50
Reg: 04-2010
|
Shannon's just rejected me and suggested Just Car Insurance.
They did it far more painlessly and it will cost $1277 a year with $500 excess and Rating 1. Paid by the month. |
Aiden Cheese
DieHard
QLD
Soarer jzz30
Posts: 726
Reg: 09-2009
|
They're still a downgrade in terms of actual insurance quality. For example if i tell shannons that my car is in the middle of a rebuild at a shop they'll reduce the cost, and cover damage done in transport to and from that shop. They'll handle any claims if the shop damages the car (ie talk to the insurance of the shop for me so i don't have to submit declarations etc).
They're masters at customer service and it's always better to have a hard time getting insurance instead of a hard time actually getting your claim when the accident happens.
BTW I was with just car and they're pretty bad. They try to remove responsibility on payouts (obviously trying to mitigate costs to themselves) and the cost of comprehensive is quite high. (The 260z with the 1jz is comprehensive for 600 a year with 500 excess using shannons for a value of $16000 coverage and access to the vehicle if it is written off although it now counts as a collectable or whatever when a car hits 35 years old). |
Chris Ryan
TryHard
NT
UZZ30
Posts: 295
Reg: 09-2005
|
Does anyone know about "Agreed Value" in comprehensive insurance?
I've had my car comprehensively insured with the same company for 5 years, and when I received the renewal letter for this year, the "agreed value" had dropped by $3000.
Something I did not agree on at all. |
Lucas Waterworth
TryHard
north island, nz
2.5tt auto
Posts: 107
Reg: 03-2010
|
Chris Ryan wrote on Thursday, July 22, 2010 - 03:11 pm:Does anyone know about "Agreed Value" in comprehensive insurance
it should mean just what it says, a value that you and your insurance company have agreed on as the value of the car in the event of a complete writeoff, as opposed to market value, replacement value or forward replacement value.
just me, but I would tell them to change it back or put their policy somewhere uncomfortable |
Murray Lund
TryHard
NSW
V8
Posts: 307
Reg: 07-2005
|
The agreed vaue needs to be realistic. After some discussion Shannons returned the agreed value for my car back to $14,000. |
Darren Bauer
Tinkerer
Victoria
Soarer TT
Posts: 51
Reg: 04-2010
|
I would much rather go with Shannon's, don't get me wrong, but I went through a very lengthy process and then they rejected me at the end because the 5 year history that they seem to need to know about. |
David Goldthorpe
TryHard
NSW
UZZ31 GT-L
Posts: 184
Reg: 11-2007
|
On a related topic, what is the best way to go about putting in 2 claims for one car? I assume the insurance company charges you 2 excess fees if the damage was done in 2 separate incidents? I only ask because my folks hit a wallaby several months ago which caused some front bar / front spoiler damage. Then, a few days ago, my mum backed into a letter box, causing rear bar / side panel damage. It's obviously going to be a bit hard to blame all that on the wallaby and say it was 1 incident, so is there another way around it?
Insurance is with NRMA.
Any advise much appreciated. |
Mike Triggs
Goo Roo
Western NSW
3.0GT G-Pack
Posts: 1500
Reg: 07-2005
|
David Goldthorpe wrote on Monday, July 26, 2010 - 01:07 pm:On a related topic, what is the best way to go about putting in 2 claims for one car? I assume the insurance company charges you 2 excess fees if the damage was done in 2 separate incidents? I only ask because my folks hit a wallaby several months ago which caused some front bar / front spoiler damage. Then, a few days ago, my mum backed into a letter box, causing rear bar / side panel damage. It's obviously going to be a bit hard to blame all that on the wallaby and say it was 1 incident, so is there another way around it?
Insurance is with NRMA.
Any advise much appreciated.
David,
Unless a claim was put in for the initial hit, I'd suggest NRMA would be a bit leery about combining the claim. You won't know until you talk to them, but I'd be thinking they would be saying "you should have claimed on the wallaby, paid excess on that fix, then the letterbox is a new claim". |
David Goldthorpe
TryHard
NSW
UZZ31 GT-L
Posts: 185
Reg: 11-2007
|
Thanks Mike,
I was thinking that would be the case. |
Matthew Sharpe
Goo Roo
North Island
JZZ31
Posts: 5710
Reg: 10-2005
|
Definitely the case. |
Adam Lonergan
Goo Roo
Victoria
UZZ32 #369 (V8)
Posts: 1222
Reg: 08-2005
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In case anybody was wondering... Coles supermarkets which has just started to provide car insurance (underwritten by Wesfarmers), will not insure imports. |
David Thompson
Tinkerer
QLD
TT
Posts: 28
Reg: 01-2007
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elders just said they are no longer insuring imports. |
Mike Triggs
Goo Roo
Western NSW
3.0GT G-Pack
Posts: 1504
Reg: 07-2005
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David Thompson wrote on Monday, August 16, 2010 - 01:45 am:elders just said they are no longer insuring imports.
It pays, with Elders, to check different branches. I have Elders for our Soarer (although took out policy nearly 3 years ago). |
Ben Leadbetter
Tinkerer
WA
SC400 Ltd
Posts: 8
Reg: 08-2010
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Just letting you guys know, if anyone has any questions relating to insurance (ie: claims, excesses, what you are/aren't covered for) you can give me a pm and ill try get back to you asap.
I work at an insurance brokerage in Perth and have had a lot of motor exposure. |
Tim Ross
Goo Roo
Qld
1J + GT35-82R
Posts: 2207
Reg: 09-2007
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Chris Ryan wrote on Thursday, July 22, 2010 - 03:11 pm:Does anyone know about "Agreed Value" in comprehensive insurance?
I've had my car comprehensively insured with the same company for 5 years, and when I received the renewal letter for this year, the "agreed value" had dropped by $3000.
Something I did not agree on at all.
Late reply I know, but here's the answer:
Agreed value applies for the period of the policy. The policy period is 12months.
At renewal, depreciation is taken into consideration, and a proposal for the next 12 months is put forward to you... you are under no obligation to accept the proposal, and it is open to discussion.
An Agreed value is just that, an agreement between 2 parties. That being said, depreciation happens in the used vehicle market whether you agree to it or not, and that is something that must be taken into consideration.
Another point to consider - If everyone had their brand new vehicle kept at the same insurance value as the day the bought it for 5 - 10yrs, the amount of insurance fraud attempted would be ridiculous as no one would bother trying to sell their used car... they would just get it 'stolen' so they could go buy a brand new one. |
Ben Leadbetter
Tinkerer
WA
SC400 Ltd
Posts: 24
Reg: 08-2010
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Bear in mind, insurers have a 10-15% lenience away from market value when it comes to these things.
ie: if your car is worth, at current market value, $10,000, insurers generally wont have a problem if you try to insure it for 12,000, if you say it is in fantastic condition or something like that.
If you were to ask for it to be insured for $18,000 because its got a competition stereo and a full bodykit, custom paint etc etc, they can still agree to it but they will need receipts of purchase, valuations etc, because they don't like insuring things like that. Even then they tend to insure the car for close to M/V and then add the rest as accessories. |
David Thompson
Tinkerer
QLD
TT
Posts: 29
Reg: 01-2007
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Just Car will insure mine for $9,500 at $960 for the year if paid upfront, with $400 excess.
Shannons wont insure because it is my primary vehicle. Probably my only option. |
Keenan Edinger
DieHard
WA
UZZ31 GT-L V8
Posts: 558
Reg: 02-2006
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Very interesting David......Is that a state thing that Shannons won't insure you because it's your primary vehicle? Cause I'm with Shannons over here in WA and the soarer is my primary vehicle.....? |
Rowan McMahon
TryHard
WA
GTT-L
Posts: 437
Reg: 07-2010
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shannons quoted me $3,500 a year for insurance on my soarer...
...why?
because i'm 25 and didnt' get insurance previously..
soooooooo
i thought i was doing the right thing till "waiting till 25 to get insurance"
but no no ... turns out i was wrong aagain! |
Ali Saeed
Goo Roo
WA
UZZ31
Posts: 3195
Reg: 09-2007
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lol just go Justcar or sgio.
justcar quoted me, 22 one accident 2008 1500.
sgio quoted me 1200 agreed value of 8.5k. |
Arthur Kouparitsas
Tinkerer
a.c.t
soarer v8 limited
Posts: 6
Reg: 02-2011
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well hit a roo couple months ago,damage;cracked frnnt bar,bent lip,2 leaking headlights and parking pole stopped working. repair bill by repairer,wait for it,$7200.Market value by insurance 6000k {93 LTD}repairable ride off.Bought back car -2000k,less 500 axcess,$3500 in my pocket
New parts from castle hill toyota
UZZ31-0004094
Front bar cover new--639.55 list
Front bar lower lip spoiler--651.42 list
RH outer head lamp--973.77 list
LH outer head lamp--973.77 list
Think will be looking for secondhand parts |
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