Shannons Insurance Premium Rise

[BLACK 346]

I know we are in a time where everything just continues to increase in price, but my recent Shannons Insurance renewal was a bit of a shock. All four of our vehicle policy's went up by over $200 per annum for a total of $806 increase (25 percent). Anyone else experience this recently and think this is normal? I am going to give them a ring today and query, but just curious to see if this is just what I have to accept or whether it is time to shop around after being with them for nearly 20 years.

[Peter B - CV8]

My recent renewal went up by approx $200- pa (for a 2 car combined policy). Back during covid lockdown Shannons reduced my premiums by $15- per month ($180- pa) - due to reduced usage. I figured they have adjusted things now that we are free to travel etc ..

[Smitty]

I know we are in a time where everything just continues to increase in price, but my recent Shannons Insurance renewal was a bit of a shock. All four of our vehicle policy's went up by over $200 per annum for a total of $806 increase (25 percent). Anyone else experience this recently and think this is normal? I am going to give them a ring today and query, but just curious to see if this is just what I have to accept or whether it is time to shop around after being with them for nearly 20 years.


recently after 3 years with them, the Shannons renewal premium for my R8 Tourer rose by 38% (!) to well over $3k a year .. with no claims, no change of address and they also REDUCED the agreed value of the vehicle by 25%... like huh?

I thought this strange as the missus' BMW is with them (won't be as of tomorrow though) as is the race car and trailer combo.. so I rang them.

Nope .. that is what it is, like it or lump it was the message I got.

So dropped Shannons and moved the HSV to GIO (approx the same premium and better agreed value than the previous Sahnnons numbers)
and
they have just done the same sort of thing with the wif'e's car.. and same story. As of tomorrow when the Shannons policy for her BMW expires
it will not be renewed as the message was the same.. so she will too have her BMW coupe insured with GIO

really dunno what the hell Shannons are doing as other HSV owners I know are getting the same story and they are off to RACV, GIO, AAMI type
insurers or Enthusiasts...

[whitels1ss]

I have heard that Enthusiast insurance are getting popular & Shannons have gone downhill.

https://www.enthusiast.com.au/

I had been a loyal customer with RAA for over 30 years without claim but they have gone well downhill these days,
the values at renewal time have been dropping like rocks but the premium is always rocketing up.

I also have house / contents with RAA, found it funny that the value of my house & contents goes up heaps each year
so they can charge higher premiums, my house is 20 years old & still on a current brochure with prices of the builder who built it
& last year the building insurance was for around 3 times the replacement new build price. :doh:

With Shannons, I have found that my old classic Corvette seems to automatically get updated with around 5% extra value on the policy each year.
My SS Commodore which is listed on an "extreme limited use" as "highly modified" has stayed at the same value on the policy for the last few years.

[amckiwi]

I think my vehicle premiums jumped heaps
Not much choice out there when dealing with modified vehicle insurance.
I am hoping that as my next birthday is a milestone one that I move into a less risky bracket
Fingers crossed
I also have problems with agreed value for my ute, at less than 58,000 kms they cannot find anything to compare it to.

[BLACK 346]

I think my vehicle premiums jumped heaps
Not much choice out there when dealing with modified vehicle insurance.
I am hoping that as my next birthday is a milestone one that I move into a less risky bracket
Fingers crossed
I also have problems with agreed value for my ute, at less than 58,000 kms they cannot find anything to compare it to.

Compare the market gave me a few options that were a lot cheaper than Shannons. I agree on the Modified vehicle options, most don't want to touch them, especially once you start talking blowers and meth injection lol. I really like how Shannons have treated me at claim time over the years and not keen to find out the hard way that others are not as good. What is your issue with agreed value with your ute mate, having trouble getting it insured for enough? For comparison sake my VU SS is insured for 30k agreed and my Calais with a long list of mods is agreed for 50k with Shannons.
I ended up ringing Shannons and was basically told without dropping values or upping excesses there is no wiggle room for discount. This is with 6 policies (4 Cars, building and contents).

[amckiwi]

I am on hols so do not have the info in front of me
I think I have the Ute at 43k and they were reluctant at that
They said cannot be worth more than a VF

[Goggles]

the insurance premium on my redline went up by $200 as well, but the agreed value dropped by around $1K. This is with the NRMA.

I did question it through various channels with them, but gave up when: (1) the response via direct message was an insulting form reply and (2) I had waited around 15 mins on a call with no end in sight to the hold.

customer service in the financial/insurance industry is woeful at best.

last year, I tried to shop around for insurance on my wife's Mini JCW convertible. almost all insurance companies expected me to call to provide a quote. stuff that, I'm not waiting on hold for the rest of life!

[whitels1ss]

Well, funny thing after this thread started yesterday I got my renewal from Shannons for the SS & the Corvette Stingray.

I was little bit worried about opening it & was relieved to see on font page in bold large print it said "Your Monthly Instalment Has Not Changed"


so reading on I noticed that the "Agreed Value" of the SS had not changed & the Corvette Stingray had not gone up either this year as it had in the past.


I am just going to call this as a lucky win for myself. :yup:

[Smitty]

Well, funny thing after this thread started yesterday I got my renewal from Shannons for the SS & the Corvette Stingray.

I was little bit worried about opening it & was relieved to see on font page in bold large print it said "Your Monthly Instalment Has Not Changed"


so reading on I noticed that the "Agreed Value" of the SS had not changed & the Corvette Stingray had not gone up either this year as it had in the past.


I am just going to call this as a lucky win for myself. :yup:

I would go buy a lottery ticket on the basis of that :)

[Pickles]

Yes, premiums are not going down, that's for sure.
But Goggles mentioned "customer service" had gone down in the financial sector.
For sure it has, but IMHO, it's not only the financial sector,.....just trying to speak to a real person is a battle these days.......I feel that the days of being able to pick up the phone and speak to a real person with virtually no delay are long gone.
Pickles.

[Smitty]

...................just trying to speak to a real person is a battle these days.......I feel that the days of being able to pick up the phone and speak to a real person with virtually no delay are long gone.
Pickles.

yes to that Martin.

work and private bat phones are with Telstra.. work isn't an issue if there is a problenm
we have 2 senior account managers (and we should with a +$5m spend!) but private?

the missus (it is her phone we have hassles with... the plan, the pricing, the messages (or lack of))
she will NOT try ringing Telstra these days.. total waste of time in her opinion

she grabs the phone and goes to the local Telstra shop (at Southland) and talks to a real
customer service human. Works everytime.. the issue is understood and fixed!

[Devil CV8]

yes to that Martin.

work and private bat phones are with Telstra.. work isn't an issue if there is a problenm
we have 2 senior account managers (and we should with a +$5m spend!) but private?

I’ve had success in the past getting private issues resolved by mentioning it to our Telstra account manager. They have access to a seperate contact to deal with issues outside of their account.

[Pickles]

yes to that Martin.

work and private bat phones are with Telstra.. work isn't an issue if there is a problenm
we have 2 senior account managers (and we should with a +$5m spend!) but private?

the missus (it is her phone we have hassles with... the plan, the pricing, the messages (or lack of))
she will NOT try ringing Telstra these days.. total waste of time in her opinion

she grabs the phone and goes to the local Telstra shop (at Southland) and talks to a real
customer service human. Works everytime.. the issue is understood and fixed!

Agree, & that is probably one of the main reasons we've always been with Telstra,...if we have a problem, then we visit the Southland Telstra shop!
Regards, Martin.

[VXSS346]

Well, funny thing after this thread started yesterday I got my renewal from Shannons for the SS & the Corvette Stingray.

I was little bit worried about opening it & was relieved to see on font page in bold large print it said "Your Monthly Instalment Has Not Changed"


so reading on I noticed that the "Agreed Value" of the SS had not changed & the Corvette Stingray had not gone up either this year as it had in the past.


I am just going to call this as a lucky win for myself. :yup:

A slightly similar story here.
I'm with Shannons for 3 cars.
When I got my yearly renewal last Sept, it had gone up a bit, can't remember by how much but it wasn't that much. The agreed values were unchanged but were PRE-COVID values, so all 3 cars were under-insured.
I decided to increase the agreed values, it ended up being about $250 more for the 3 cars. Most increase was the SS which was insured for $9k, but I upped it to $22k. That premium rose about $160 alone.

I've shopped around a bit over the years, I find Shannons fairly reasonable, never had a problem with claims, I think you'll find premium hikes are everywhere.

[Wonky]

I've been very happy with Shannons for both my Senator and the wife's Mazda 3, plus our house since I got the Senator in 2015. Made 3 claims on mine, initially a windscreen, then a no fault claim for very minor damage I had dashcam proof for and finally in Sept 2021 an accident when I backed into someone's garage. :cussing: All handled very smoothly though they tried to convince me to go to their local S.M.A.R.T. repairer. I went to a friend of a friend.

Feb 2022 we bought a 2022 Subaru Forester for the wife (lovely car IMO) and whilst their prices had always been OK on the Mazda their price on the Forester was substantially more than RACV, so went with RACV. Late Jan this year got the renewal for the Senator and house. The agreed value on the Senator had gone down marginally but the premium had gone up, not substantially from memory but enough to warrant investigating options, especially given the house insurance had gone up too. I'm sure there was supposedly a 10% discount for combined car and house insurance, making their "normal" prices even more expensive!

Now with Enthusiast for the Senator with last year's Shannons agreed value and Budget Direct for the house and contents with combined savings of close to $1,000pa.. I hate the name Budget Direct because it sounds a bit dodgy to me but reviews are good and Canstar likes them, for whatever that means. :D

Sounds like Shannons is bleeding customers, though I guess that was always on the cards to eventuate when they were bought out.

[Red CV8 R]

I've used Budget Direct for my previous Lexus as they were the only ones who would insure my wife as well, who was under 25 at the time.

We had to make a not at fault claim on that car. My first experience of having to use an insurance company mandated repairer. Did not go well. The insurance company representative was very rude and difficult. The insurer mandated repairer was not good and kept the car for a long time. A few years down the track, the clear coat on the paint job had broken up, looked terrible. We then approached Budget Direct to fix it under their life time warranty. Messy but they finally agreed to fix it.

Took it to a different repairer because the original repair shop had shut down. New shop again chosen by the insurance company. They were difficult too and ended up painting the wrong side of the car... Car went back in again and they sort of fixed it but also managed to majorly damage the cars interior while it was there... They then had to make good on that but did a terrible job of it. I cracked it and traded that car. That repair shop shut down shortly after too...

Hopefully they and their chosen repairers are better nowadays.

[Red CV8 R]

I have heard good things about enthusiast insurance, but haven't found anyone who actually made a claim through them.

[Smitty]

I've used Budget Direct for my previous Lexus as they were the only ones who would insure my wife as well, who was under 25 at the time.

We had to make a not at fault claim on that car. My first experience of having to use an insurance company mandated repairer. Did not go well. .................................


I recommend that NO_ONE goes near Budget Direct, aka Coles car Insurance, aka Aust Post car Insurance, ING car insurance etc etc

My youngest had a KIA Sorento (bought as a demo in 2013) and she moved to Budget Direct back in 2015/16 (not sure of the exact date)

The day before Melbourne Cup Day last year, a trio of crims* took it... forced open the garage, got into the house (thankfully they sleep upstairs)
could not find the keys... took a wrecking bar and jemmied open the drivers door and then (my guess) hammered a large screwdriver into the
screw barrel, started the car and took off.

Next morning.. Cup Day she went to go to the shops and seeing the garage open and car gone, reported it to the police.
Thankfully she did.. as over the next 10 days, the crims who stole the KIA ran up over 20 speeding camera tickets and 30 unauthorised
trips on City Link and EastLink (she had the brains to cancel the rego straight after the police got involved...) travelling mainly out towards the airport

The cops finally found the KIA in a sports oval in Frankston (it had been stolen in Cheltenham) after it had been used to ram/sideswipe about
a dozen cars in surrounding streets and it finnaly died when they tried to drive it thru a gap in fence onto a sport oval.... that was 50cm narrower
than the car. Trashed, a write-off .. I saw the pics.

the insurer was notified of the theft, and while the car was being drive all over Melbourne, my daughter got the 3rd degree...
how much $ in your bank account? how many insurance claims in the past 10 years? (car and and house) how many traffic infringements?
how many parking fines?.. like seriously! And as a single mum with 3 kids these she did not need.

Then.. they blamed her, she left the garage open (despite evidence of forced entry) she left the keys in the car (oh.. you still have TWO sets of keys?
said the insurance co rep.. when asking about entry to the car) despite evidence that entry had been forced.

And even if you pay the excess, we MAY NOT accept your claim... so said Budget Direct staff.

In the end, she had to raise a complaint (their complaints system is biased too) and then... oh claim
accepted but sorry no... all personal items will not be covered. There were school blazers, kids sports gear
maybe $500-600 worth of stuff and becuase they were in the car (for the next school trip Wednesday)
.. not covered


Theft.. start of November, payout? ...28 Feb! Try being single Mum, school runs, shopping, swimming
and sports (footy and netball) so yes ..we did a lot of running around. Christmas.. shopping and all
taht goes with Christmas in the middle of all this

final point.. the promised 21 day rental car policy benefit in the case of a claim? no sorry.. in this case
if you want that, you will have the cost of that deducted off the payout

Moral of the story.. stay away from BUDGET DIRECT


ps.. she is now with GIO

***trio?
yes, the cops have the CityLink and speed cam photos, always 3 males in the car

[Wonky]

Fortunately our cars are not with Budget Direct.

[Red CV8 R]

How funny, I just got my shannons home insurance renewal today. No claims ever, but it's gone up 25%. Called them up this morning and they've said it's purely due to the number of claims they've had to pay out over the previous year. They said they can't budge on the premium. I've gotten some quotes from other Insurers for exactly the same thing and they are what I was paying through Shannons last year. So, I'll just switch to a different insurer.

[QIKMIK]

Still with Shannons for everything here (house, car, bike, ute, car). Happy with the premiums, excesses and values.

Quick note on claims with Shannons: Eldest wrote my old ute off in December just gone (all occupants ok). Within a few weeks, they had not only recovered the ute from a difficult resting place (in a creek), they'd assessed it, written it off, paid me out and shipped it back to my place (having bought the wreck). Pretty happy with that.

Mick

[whitels1ss]

My latest insurance company dealing..... This is RAA insurance, we have both been using for many years.

My partner had her car parked in the street outside her daughter's house & another woman ran into it claiming that "the sun was in her eyes so she did not see it."

Anyway, the car was hit quite hard, the rear bumper was pushed onto the right rear tire & when I opened the boot I could see the floor & the rail was bent.

We rang the RAA insurance & I told them that it would be a write off & we agreed that I ripped the dragging bits off
& took it to a place 5 minutes away for a 5 minute assessment.

(I only took it there because I knew it would be written off, if it was going to be repaired I would have gone elsewhere.)

Anyway, RAA sent assessor out who agreed & they paid out today & the payout was actually a few hundred dollars more than
the insurance policy had devalued the value to over the past 10 or more years she has had the car.
(The guy said that they also check other things and pay whichever is more.)

We bought her a replacement car yesterday which we pick up tomorrow lunch time & we have insured it again with RAA.

Quite happy with the (taking into account over Easter Holls) 6 business days settlement.

[Toddler78]

My latest insurance company dealing..... This is RAA insurance, we have both been using for many years.

My partner had her car parked in the street outside her daughter's house & another woman ran into it claiming that "the sun was in her eyes so she did not see it."

Anyway, the car was hit quite hard, the rear bumper was pushed onto the right rear tire & when I opened the boot I could see the floor & the rail was bent.

We rang the RAA insurance & I told them that it would be a write off & we agreed that I ripped the dragging bits off
& took it to a place 5 minutes away for a 5 minute assessment.

(I only took it there because I knew it would be written off, if it was going to be repaired I would have gone elsewhere.)

Anyway, RAA sent assessor out who agreed & they paid out today & the payout was actually a few hundred dollars more than
the insurance policy had devalued the value to over the past 10 or more years she has had the car.
(The guy said that they also check other things and pay whichever is more.)

We bought her a replacement car yesterday which we pick up tomorrow lunch time & we have insured it again with RAA.

Quite happy with the (taking into account over Easter Holls) 6 business days settlement.


Im looking at changing back to RAA insurance, Hav been with Shannons for years as well, whilst my premiums haven't gone up th value of the Monaro has gone down. Currently valued @ 12,000. RAA will insure, prisms a couple of $$ cheaper but agreed value is $25,000.

RAA Will payout agreed value or Market value whichever is more. When I spoke with Shannons and inquire about that policy they told me thy only pay out agreed value. For me its not much the premiums but the value of the payout. it wouldn't take much of an accident to write off a monaro valued at $12,000

[whitels1ss]

Im looking at changing back to RAA insurance, Hav been with Shannons for years as well, whilst my premiums haven't gone up th value of the Monaro has gone down. Currently valued @ 12,000. RAA will insure, prisms a couple of $$ cheaper but agreed value is $25,000.

RAA Will payout agreed value or Market value whichever is more. When I spoke with Shannons and inquire about that policy they told me thy only pay out agreed value. For me its not much the premiums but the value of the payout. it wouldn't take much of an accident to write off a monaro valued at $12,000

That is crazy Todd, obviously your Monaro is worth heaps more than $12,000.

I changed from RAA to Shannons a few years ago on the SS because RAA was too low value
& Shannons were easy to get a much higher agreed value but on a "Restricted Use, Highly Modified" policy.
(From memory I was only supposed to drive it something like 128 days a year??? )

When I fitted the new Harrop supercharger I phoned them to inform them & I think they called the policy "Extremely Modified / Extremely Limited use"
only to be driven up to 28 days in a calendar year & it is quite expensive but they were happy to up the value & as I said it did not go down this year.

It is going to be funny when it is eligible to go on Historic registration as that is cheap as heck but I don't think they are all that keen on doing it with supercharged cars. :lol:

[whitels1ss]

When I spoke with Shannons and inquire about that policy they told me thy only pay out agreed value.
For me its not much the premiums but the value of the payout.
It wouldn't take much of an accident to write off a monaro valued at $12,000

Hey Todd, I would phone Shannons back & talk to someone else, that is crazy.

Yes, I don't shop for the lowest premiums either because I have seen how people get treated when they make claims with those cheap mobs. :doh:

[Wonky]

Anybody who takes out policies based on purely premiums is not very intelligent!

[Pickles]

That is crazy Todd, obviously your Monaro is worth heaps more than $12,000.

I changed from RAA to Shannons a few years ago on the SS because RAA was too low value
& Shannons were easy to get a much higher agreed value but on a "Restricted Use, Highly Modified" policy.
(From memory I was only supposed to drive it something like 128 days a year??? )

When I fitted the new Harrop supercharger I phoned them to inform them & I think they called the policy "Extremely Modified / Extremely Limited use"
only to be driven up to 28 days in a calendar year & it is quite expensive but they were happy to up the value & as I said it did not go down this year.

It is going to be funny when it is eligible to go on Historic registration as that is cheap as heck but I don't think they are all that keen on doing it with supercharged cars. :lol:

I've heard of "RACV" Ins, but who is "RAA"?!
Pickles.

[whitels1ss]

I've heard of "RACV" Ins, but who is "RAA"?!
Pickles.

It is like the South Australian RACV.

[BLACK 346]

Im looking at changing back to RAA insurance, Hav been with Shannons for years as well, whilst my premiums haven't gone up th value of the Monaro has gone down. Currently valued @ 12,000. RAA will insure, prisms a couple of $$ cheaper but agreed value is $25,000.

RAA Will payout agreed value or Market value whichever is more. When I spoke with Shannons and inquire about that policy they told me thy only pay out agreed value. For me its not much the premiums but the value of the payout. it wouldn't take much of an accident to write off a monaro valued at $12,000

Where the fk are they going to find a Monaro of any description for 12K? That is ludicrous.

[Red CV8 R]

Where the fk are they going to find a Monaro of any description for 12K? That is ludicrous.

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.

[BLACK 346]

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.

As said earlier, I think you may have just got someone on a bad day. I have never had problems with agreed values with Shannons's, but when the values go up so do the premiums understandably. They did not hesitate to put our VU SS at 30k, and whilst it is in exceptional condition I seriously doubt it would be worth as much as your Monaro.

[Red CV8 R]

Quite possible, but there's something wrong with their system if someone having a bad day can have some serious results. I will add that this was not an isolated incident for me with Shannon's. They do and say some odd things at times and there does seem to be a bit of pot- luck with who you talk to.

Yeah, we are talking numbers higher than that range. Monaro's are much higher valued than the utes and Sedans obviously, I think that's where it gets complicated with them. I know of people with CV8s insured for $70k + through Shannons, in worse condition and 3 to 4 times the KMs of mine. Yet, others have described the same issues I have, getting much less agreed values for the same thing. Something wrong there.

[Red CV8 R]

A funny titbit about Shannon's is that when I purchased my VXII SS Commodore (new), Shannon's refused to insure me. They literally said that the car was not special and they only insured enthusiast cars. I asked for clarification and they said Monaro's were all good and HDTs and HSVs. True to their word, as soon as I purchased my Monaro (new again), they said no problem and insured it for many years. Things seemed to change when they were bought out by Suncorp.

[amckiwi]

I wonder if Shannon’s car recommend a valued to look at our cars and accept their valuation

[Red CV8 R]

I wonder if Shannon’s car recommend a valued to look at our cars and accept their valuation

They do, if you ask for an amount that they feel is too high for a regular version of your model car, but not ridiculous, they can request you to attend a Shannon's office (In Sydney they're in Artarmon) and they will assess the car and see if it's as good as you say and worthy of a higher agreed value.

[VTR8Clubby]

Shannon's have been great for me. My family and I have a CV8, RC Colorado, Mazda CX5, Mazda 3, and Toyota Prado, all insured for very good agreed values and premiums are better than elsewhere. Enthusiast were cheaper when I inquired for my CV8 but restricted to named drivers only.
The only thing I don't like is my daughters Prado isn't insured if anyone under 25 drives it because she is under 25. Her premium is cheaper than than elsewhere so she is staying with them, and also being a manual, none of her friends could drive it anyway so she's not to worried. :lol:

[BLACK 346]

They do, if you ask for an amount that they feel is too high for a regular version of your model car, but not ridiculous, they can request you to attend a Shannon's office (In Sydney they're in Artarmon) and they will assess the car and see if it's as good as you say and worthy of a higher agreed value.

Yes, they requested I go to the Shannons shop here in Adelaide or provide comprehensive detailed photos. It seems a long list of big dollar mods will help with increasing your agreed value with Shannons, something other insurance companies just use as a reason to not want to insure you at all.

[whitels1ss]

Yes, they requested I go to the Shannons shop here in Adelaide or provide comprehensive detailed photos. It seems a long list of big dollar mods will help with increasing your agreed value with Shannons, something other insurance companies just use as a reason to not want to insure you at all.

I assume you are on a limited usage policy with your Calais Rod?

[BLACK 346]

I assume you are on a limited usage policy with your Calais Rod?

Yes Ed, it is

[whitels1ss]

I just received my Shannons renewal.

There is a 20% premium increase from last year :mad::mad::mad:

it says simply that this is due to the number of claims they have had recently.

I only took my SS out of the garage twice last year & I have not made an at fault claim in over 40 years. :flamin:

[Red CV8 R]

Lots of posts like this online at the moment for Shannon's insurance. 25% to 35 % premium increases. A lot of people saying they are jumping ship to Enthusiast Insurance, NRMA classic and sports and Lumley. So, the smaller insurance companies seem to be the beneficiary of Shannon's price rises, but like anything, check the policy details.

[whitels1ss]

I am going to stay with them for now. Just not happy with the price rise & thought I would update on this thread.

I do not like dealing with the "Cheap" cover insurance companies, also most insurance companies will not cover highly modified cars. :nono:

[Red CV8 R]

I am going to stay with them for now. Just not happy with the price rise & thought I would update on this thread.

I do not like dealing with the "Cheap" cover insurance companies, also most insurance companies will not cover highly modified cars. :nono:

Cool. Although you will find none of those 3 are cheap insurance companies (like budget direct etc), Enthusiast and Lumley are specialist car insurers. They don't insure regular cars, only classics and modified cars. Apparently, when Suncorp bought Shannon's, a lot of staff left and joined Enthusiast.

[BLACK 346]

I can sort of understand the reasoning behind the increase when you look at what we have insured. I can only imagine the expense and difficulty of repairing either of my two Holdens if they were in any significant sort of crash. Both are no longer manufactured and probably difficult to source parts for, and the Calais with it's numerous bespoke bits and pieces would be a headache I reckon. Bit different to the lego that 98 percent of cars insured represent. Our Golf for instance has had new front and rear bars under insurance recently, both jobs took less than 48 hours from me dropping off to picking up, they had the parts in stock ready to paint and install. In comparison my 2002 SS ute when it went in was a nightmare for Shannons mainly due to the GTO bonnet, which is just one example of unicorn parts that is only going to get worse as time goes on.

PS...Shannons wanted to ditch the bonnet and replace it with a normal one (probably from upullit). Luckily it was listed on the policy and they had to repair and repaint it.

[Red CV8 R]

I can sort of understand the reasoning behind the increase when you look at what we have insured. I can only imagine the expense and difficulty of repairing either of my two Holdens if they were in any significant sort of crash. Both are no longer manufactured and probably difficult to source parts for, and the Calais with it's numerous bespoke bits and pieces would be a headache I reckon. Bit different to the lego that 98 percent of cars insured represent. Our Golf for instance has had new front and rear bars under insurance recently, both jobs took less than 48 hours from me dropping off to picking up, they had the parts in stock ready to paint and install. In comparison my 2002 SS ute when it went in was a nightmare for Shannons mainly due to the GTO bonnet, which is just one example of unicorn parts that is only going to get worse as time goes on.

PS...Shannons wanted to ditch the bonnet and replace it with a normal one (probably from upullit). Luckily it was listed on the policy and they had to repair and repaint it.

You make a very good point and I think over time, we would have to expect our cars will be more expensive to insure because of those parts availability issues. Same way something like an old Ferrari is more expensive to insure, because the parts are expensive and difficult to obtain. The insurance companies factor this into your premium. Although, these recent premium increases appear to be across the board, rather than car / brand specific.

[Smitty]

I just received my Shannons renewal.

There is a 20% premium increase from last year :mad::mad::mad:

it says simply that this is due to the number of claims they have had recently.

I only took my SS out of the garage twice last year & I have not made an at fault claim in over 40 years. :flamin:

just check they have not shafted you twice....

with me (and part of the reason for moving) was not only the premium took off but the thing that really sh#*t me was they
dropped the agreed value WITHOUT DISCUSSION at the same time by over 20% too

.. to a value UNDER Redbook and Carsales Used car valuations . And then they lie thru their teeth when you query that
and they say the new agreed value we put on the renewal is based on , yep, RedBook and Carsales used car valuations !

:flipoff:

[whitels1ss]

just check they have not shafted you twice....

with me (and part of the reason for moving) was not only the premium took off but the thing that really sh#*t me was they
dropped the agreed value WITHOUT DISCUSSION at the same time by over 20% too

.. to a value UNDER Redbook and Carsales Used car valuations . And then they lie thru their teeth when you query that
and they say the new agreed value we put on the renewal is based on , yep, RedBook and Carsales used car valuations !

:flipoff:

Yes Smitty, that's right, first thing I checked was the insured values. :cheers:

Neither of them are on standard, normal comprehensive policies which might make the difference.

My SS is on a "Extreme limited use, very highly modified, agreed value" policy,
& it's insured value is exactly the same as last year.

The Stingray has automatically gone up by around 5% as it is on "Historic registration".

[VXSS346]

Hi all,

Now its my turn. :(

Just received the renewal showing a 21% increase. (4 cars)

Normally I'd just call them every year and manipulate values etc. and they would also give a little more off here and there as a loyal customer. I've been with them for around 20 years.
I haven't done that yet this year, but will do, although I'm not expecting much help anymore.

SS is on extreme limited use (22k agreed) and another Commodore on Club permit + 2 daily driven std cars.

Now, has anyone actually found good reputable cheaper insurance else ware? By cheaper, I mean 'like for like' policies, not just a lower premium. Values, Excesses etc. should be the same.

Any help appreciated.

Edit: Just did an online quote for the SS through Enthusiast Car insurance, comes up as 40% cheaper??? :shock:

[Red CV8 R]

Yes, Enthusiast is actually better than Shannons as far as they are not only cheaper, they will offer you true salvage rights for a car as young as 15 years old. Shannons offer this only after 35 years of age from memory. From what Shannon's tell me, you're paying more simply because of their losses in general insurance due to floods etc. Probably Suncorp losses actually. Enthusiast only insures speciality cars, so not affected in the same way.

[Smitty]

Hi all,

Now its my turn. :(

Just received the renewal showing a 21% increase. (4 cars)

Normally I'd just call them every year and manipulate values etc. and they would also give a little more off here and there as a loyal customer. I've been with them for around 20 years.
I haven't done that yet this year, but will do, although I'm not expecting much help anymore.

SS is on extreme limited use (22k agreed) and another Commodore on Club permit + 2 daily driven std cars.

Now, has anyone actually found good reputable cheaper insurance else ware? By cheaper, I mean 'like for like' policies, not just a lower premium. Values, Excesses etc. should be the same.

Any help appreciated.

Edit: Just did an online quote for the SS through Enthusiast Car insurance, comes up as 40% cheaper??? :shock:

bearing in mind car insurance is influenced by POSTCODE, the only insurer that I found when Shannons went feral
(told me to phark off basically when i queried the increase) and ...
1) did not want to set an agreed value in the basement
2) would allow you to change the excess big time from their suggested VERY LOW $
and
3) allow for monthly payments of a reasonable (compared to previous) premium was GIO

Tried a few of the others - AAMI, ALIANZ, RACV etc and nope... just unreasonable ! Agreed values
that were between 50-70% of what Redbook or Carsales that were showing for the GENF HSV Tourer
and their premiums? RACV won't insure HSVs in my postcode and the worst was Enthusiast ...
they would allow a MAX value of about 50% of what it is worth and wanted 50% more than the
previous Shannons premium :flipoff:

[whitels1ss]

bearing in mind car insurance is influenced by POSTCODE, the only insurer that I found when Shannons went feral
(told me to phark off basically when i queried the increase) and ...
1) did not want to set an agreed value in the basement
2) would allow you to change the excess big time from their suggested VERY LOW $
and
3) allow for monthly payments of a reasonable (compared to previous) premium was GIO

Tried a few of the others - AAMI, ALIANZ, RACV etc and nope... just unreasonable ! Agreed values
that were between 50-70% of what Redbook or Carsales that were showing for the GENF HSV Tourer
and their premiums? RACV won't insure HSVs in my postcode and the worst was Enthusiast ...
they would allow a MAX value of about 50% of what it is worth and wanted 50% more than the
previous Shannons premium :flipoff:

I have just put up with the increase,

I do not like changing insurance companies & although I have never made a claim

I believe Shannons will look after you if you ever need to make one.

[Red CV8 R]

bearing in mind car insurance is influenced by POSTCODE, the only insurer that I found when Shannons went feral
(told me to phark off basically when i queried the increase) and ...
1) did not want to set an agreed value in the basement
2) would allow you to change the excess big time from their suggested VERY LOW $
and
3) allow for monthly payments of a reasonable (compared to previous) premium was GIO

Tried a few of the others - AAMI, ALIANZ, RACV etc and nope... just unreasonable ! Agreed values
that were between 50-70% of what Redbook or Carsales that were showing for the GENF HSV Tourer
and their premiums? RACV won't insure HSVs in my postcode and the worst was Enthusiast ...
they would allow a MAX value of about 50% of what it is worth and wanted 50% more than the
previous Shannons premium :flipoff:

That's weird on Enthusiast, they offered me $75k agreed value on my Monaro, higher than anyone else. That was for nearly half the premium of what Shannon's would offer me. However, I'm actually with neither insurance company. I'll probably move to enthusiast next year if they offer the same.

[VXSS346]

I have just put up with the increase,

I do not like changing insurance companies & although I have never made a claim

I believe Shannons will look after you if you ever need to make one.

Agree re claims, Shannons seem pretty good there, have been through 2 claims with them.

[VXSS346]

bearing in mind car insurance is influenced by POSTCODE, the only insurer that I found when Shannons went feral
(told me to phark off basically when i queried the increase) and ...
1) did not want to set an agreed value in the basement
2) would allow you to change the excess big time from their suggested VERY LOW $
and
3) allow for monthly payments of a reasonable (compared to previous) premium was GIO

Tried a few of the others - AAMI, ALIANZ, RACV etc and nope... just unreasonable ! Agreed values
that were between 50-70% of what Redbook or Carsales that were showing for the GENF HSV Tourer
and their premiums? RACV won't insure HSVs in my postcode and the worst was Enthusiast ...
they would allow a MAX value of about 50% of what it is worth and wanted 50% more than the
previous Shannons premium :flipoff:

Interesting and I guess not surprising really. I guess I'll be doing a lot of searching around over the next 3 weeks and see what I can get.

[VXSS346]

That's weird on Enthusiast, they offered me $75k agreed value on my Monaro, higher than anyone else. That was for nearly half the premium of what Shannon's would offer me. However, I'm actually with neither insurance company. I'll probably move to enthusiast next year if they offer the same.

From my online quote today through Enthusiast, that's exactly what I found too. :hmmm:

[Red CV8 R]

From my online quote today through Enthusiast, that's exactly what I found too. :hmmm:

I was with Shannons for everything until not too long ago. When I decided to move everything away, I then had to look at the competitors policies in depth, to make sure that I was getting the exact same thing. That was the number one factor for me.

Regarding the premium, as Smitty said, postcode plays a part but with cars, KMs travelled seems to make a huge difference. On the flip side, Shannons for me were very competitive with the daily drive portion of the policy, with the way they work that in for a limited use weekend car. I don't think enthusiast works in the same way, I was only considering them for my Monaro on an ultra limited use policy.

I did however find that Shannons really are not competitive for home insurance. It kind of felt like they were trying to shed that business. So, with everything in the pot, I left Shannons altogether except for Green Slips, but they will move too

[Pickles]

I have just put up with the increase,

I do not like changing insurance companies & although I have never made a claim

I believe Shannons will look after you if you ever need to make one.

Yes, those are the most important points in my mind too.
IMHO, you "get what you pay for" with insurance.
Pickles.

[Red CV8 R]

Yes, those are the most important points in my mind too.
IMHO, you "get what you pay for" with insurance.
Pickles.

Everyone needs to do what they're comfortable with. However, I would say insurance is one area where you don't necessarily get what you pay for. For example, NRMA were the most expensive of the insurers I reviewed for my wife's car. Yet, they offered the lowest value and wasn't actually offering real choice of repairer. In general, Insurance companies actually rely on most people just accepting the premium they're given and that they won't check out their options. Every insurer has people with stories of being hard done by, and that includes Shannon's. I've heard some nasty ones. Having said this, if staying with your insurer gives you piece of mind, paying extra is worth it. Helps you sleep at night when you have a car or cars you love.

[Red CV8 R]

Shannon's really are watching the bottom line right now it seems. An institution gone.

https://www.drive.com.au/news/shannons-auctions-announces-closure/

[Smitty]

... further to my rants previously in this thread

got in email this evening just after 5pm... from GIO saying your policy is due for renewal (yup in December)

Your premium? is going from $1942pa to $2594 pa . My maths says ...a 34% increase and the agreed value
is dropping from (I think it is) $67,000 down to $47,000 a 30% decrease

Just spent an hour on CarSales and AutoTrader and there are zero, nil... no 2014 MY15 R8 Tourers in MANUAL
and only 5 in auto anywhere in Oz, prices from $62k to $88k. ANd these kents want to insure mine for far less
than any replacement will cost them?

And as for the premium increase? ... could hack that if the vehicle value stayed the same/reasonable
but I am NOT getting reamed over TWO changes going the wrong way. Some interesting phone calls to GIO me thinks

lets see what happens here

[Smitty]

..

lets see what happens here

after the post above above, I tried some online quotes -
GIO as a new customer.. naah! same premium even worse vehicle
so
lets try Enthusiasts. Hmmmm, premium is just above GIO at $224.20 pcm ($2690pa)
but then I looked at the vehicle value insured. $39,900:flipoff:

The website did allow me to increase it back to sensible levels... $65,000 but the premium?
Yeah, not at $384 per month ($4608 pa !)

Going to have to keep looking

[whitels1ss]

after the post above above, I tried some online quotes -
GIO as a new customer.. naah! same premium even worse vehicle
so
lets try Enthusiasts. Hmmmm, premium is just above GIO at $224.20 pcm ($2690pa)
but then I looked at the vehicle value insured. $39,900:flipoff:

The website did allow me to increase it back to sensible levels... $65,000 but the premium?
Yeah, not at $384 per month ($4608 pa !)

Going to have to keep looking

I understand your frustration Smitty.

I get annoyed with the same thing and I hate having to get on the phone to listen to (without abusing,)
some creature who has no idea about different cars & their values. :doh::doh::doh:

[Red CV8 R]

I don't know how much truth there is to it, but I was chatting to a Shannon's worker a few months back and they said that VF and in particular VE are becoming very difficult to get parts for and that they are raising premiums to cover that. Said that VT-VZ are still okish for parts.

[VXSS346]

I don't know how much truth there is to it, but I was chatting to a Shannon's worker a few months back and they said that VF and in particular VE are becoming very difficult to get parts for and that they are raising premiums to cover that. Said that VT-VZ are still okish for parts.

Could be true, The premium prices for our VF Wagon (just a std Evoke) from most mainstream insurance companies is over $1000pa. :shock: Gone up heaps in the last 2 or so years, thankfully Shannons still insure it for around $800pa, but that's still much higher than last year. ($26k agreed value, locked garaged, limited use, $650 excess)

[BLACK 346]

I don't know how much truth there is to it, but I was chatting to a Shannon's worker a few months back and they said that VF and in particular VE are becoming very difficult to get parts for and that they are raising premiums to cover that. Said that VT-VZ are still okish for parts.

I reckon you are spot on. I took a quick trip to U-Pullit at Gillman this morning to try and find a couple of bits and pieces for the ute. There is basically nothing left Commodore wise. A year ago the yard was full, now there are about 10 VT-VY Shells with some broken bits and pieces inside. One VE in the entire yard, an Evoke shell once again with a few broken bits and pieces. Not sure what the other two yards are like but I assume similar. Not sure how many VE/VF were sold in the end compared to VT-VZ, but I reckon this later series may have dodged the Davoren Park taxi life where they were bought super cheap by the centrelink crowd and flogged until they died and ended up being either defected or written off/fkd beyond repair, and then sent to U-Pullit or similar wrecking yards.
PS...Below is what I was looking for (dreaming I know). Ended up coming away with a Rear view mirror and some cluster globe holders.

[Red CV8 R]

I reckon you are spot on. I took a quick trip to U-Pullit at Gillman this morning to try and find a couple of bits and pieces for the ute. There is basically nothing left Commodore wise. A year ago the yard was full, now there are about 10 VT-VY Shells with some broken bits and pieces inside. One VE in the entire yard, an Evoke shell once again with a few broken bits and pieces. Not sure what the other two yards are like but I assume similar. Not sure how many VE/VF were sold in the end compared to VT-VZ, but I reckon this later series may have dodged the Davoren Park taxi life where they were bought super cheap by the centrelink crowd and flogged until they died and ended up being either defected or written off/fkd beyond repair, and then sent to U-Pullit or similar wrecking yards.
PS...Below is what I was looking for (dreaming I know). Ended up coming away with a Rear view mirror and some cluster globe holders.

I don't think VE avoided that flogged life, from what I've seen, they suffered the same fate as the VT-VZ cars. But I reckon you're right about VF.

[BLACK 346]

I don't think VE avoided that flogged life, from what I've seen, they suffered the same fate as the VT-VZ cars. But I reckon you're right about VF.

Might be the case in richer states, but here in good old Adelaide I don't see too many VE that are not looked after. Still lots of VT-VY V6 getting around the traps North of Adelaide. They are slowly disappearing though. The VF definitely seems to have dodged that fate, no way the prices have dropped low enough for that market.

[Red CV8 R]

Might be the case in richer states, but here in good old Adelaide I don't see too many VE that are not looked after. Still lots of VT-VY V6 getting around the traps North of Adelaide. They are slowly disappearing though. The VF definitely seems to have dodged that fate, no way the prices have dropped low enough for that market.

Interesting. Yeah, VE is a huge "thrashed and run down bogan car" over here. Even the V8 models often suffered that fate here. Go through the poorer suburbs and it's the VE you still see around in run down condition and obviously thrashed. You don't see as many VT - VZ in general vs 5 years ago. Probably all run into the ground and now sitting in people's back yards in pieces. Owners moved onto the more available VE. I guess they will soon become thin on the ground. VF it seems will avoid all that.

[BLACK 346]

Interesting. Yeah, VE is a huge "thrashed and run down bogan car" over here. Even the V8 models often suffered that fate here. Go through the poorer suburbs and it's the VE you still see around in run down condition and obviously thrashed. You don't see as many VT - VZ in general vs 5 years ago. Probably all run into the ground and now sitting in people's back yards in pieces. Owners moved onto the more available VE. I guess they will soon become thin on the ground. VF it seems will avoid all that.

Pretty fkd if you own a really nice VF and cannot get parts for it, sad times. I wonder how the rest of Holden's stable will fare, the likes of Colorado and all the other SUV models that I see getting around?

[Red CV8 R]

Pretty fkd if you own a really nice VF and cannot get parts for it, sad times. I wonder how the rest of Holden's stable will fare, the likes of Colorado and all the other SUV models that I see getting around?

Its a valid point you make about VF. Less trashed versions mean less parts cars. Although , I guess if they're mainly being stowed away, less sun damage etc.

My knowledge of the other Holden products is a bit thin, but weren't they usually rebadged versions of international models? Would that mean easier to get parts? Parts manufacturers still around to do a run of the hard to get bits?

[Smitty]

Pretty fkd if you own a really nice VF and cannot get parts for it, sad times. I wonder how the rest of Holden's stable will fare, the likes of Colorado and all the other SUV models that I see getting around?

good point.... !

Owners of EQUINOXs and CASCADIAs .. should really be worried as these are Holden only vehicles

[Smitty]

.. an update

have tried just about all the usual suspects - RACV, NRMA (NOT allowed in Vic) CGU, ALLIANZ, QBE
AAMI, RACQ. APIA, Seniors etc
and all have premiums about the same as I have been paying - $1800 to $2000 but the major hassle
is the insured value.

Basically none of these get over $40k at first glance although some will allow you to change (for more moolah)
the agreed insured value up to about $47-48k MAX. That is it!

Then I tried the 'bank insurers - CBA, ANZ did quote but were actually worse with the market value which is the
basis for the insured agreed value. CBA was $34k for an 8 yo R8 Clubbie???

Then I tried ING.. underwritten by Auto and General they quoted $1860 (monthly paid) and allowed the
original insurance value to be moved from $51k up to $57.900 (on which the $1860 is based) and you have
choice of repairer and that includes a windscreen too!
Much more like it....

I can get a slightly higher insured value (see comment on Enthusiast) but for double the premium

ING are in the top 5 of the list on 'Product Review' but there are very good and VERY BAD reviews
on there . Thoughts...?

[whitels1ss]

Sounds incredibly unfair Smitty.

Problem is that we have to deal with keyboard operating nerds that have no idea about cars.

$34K for a 2015 R8 Clubsport wagon???


Did the clown ask you how many cylinders the engine has as well??? :stupid:

(I watched & heard one of the Shannons experts ask that question to an owner of a C3 Corvette
whilst standing right next to the open bonnet at a car show about 18 months ago.) :doh:

[Pickles]

.. an update

have tried just about all the usual suspects - RACV, NRMA (NOT allowed in Vic) CGU, ALLIANZ, QBE
AAMI, RACQ. APIA, Seniors etc
and all have premiums about the same as I have been paying - $1800 to $2000 but the major hassle
is the insured value.

Basically none of these get over $40k at first glance although some will allow you to change (for more moolah)
the agreed insured value up to about $47-48k MAX. That is it!

Then I tried the 'bank insurers - CBA, ANZ did quote but were actually worse with the market value which is the
basis for the insured agreed value. CBA was $34k for an 8 yo R8 Clubbie???

Then I tried ING.. underwritten by Auto and General they quoted $1860 (monthly paid) and allowed the
original insurance value to be moved from $51k up to $57.900 (on which the $1860 is based) and you have
choice of repairer and that includes a windscreen too!
Much more like it....

I can get a slightly higher insured value (see comment on Enthusiast) but for double the premium

ING are in the top 5 of the list on 'Product Review' but there are very good and VERY BAD reviews
on there . Thoughts...?

My own thoughts on comprehensive insurance has always been the same. I NEVER worry about the sum insured, I know people haggle & haggle to get their sum insured up to as high a figure as they can,......with a similar increase in premium.....What for?....the only benefit is that if your vehicle is stolen or written off, yes, then for sure you may get a higher payout,.....but how likely is that?
So me? ....I just insure for M.V. with a mainstream insurer, with all the benefits I need, which will cover me for everything I need, in case I hit a Rolls Royce etc!
Pickles.

[VXSS346]

Well, another year has passed and no real surprises again, massive price rises, :vpo: not just Shannons either.
Got it down a bit again with the usual yearly :bow: phone call, but overall still a 15% (down from 25%) increase across 2 insurance companies. (Shannons and Enthusiast).

[Toddler78]

Well I didn’t really want to add to this thread but here we are. Had to make a claim on the Monaro tonight due to it being vandalised. Shannon’s are towing the car to be assessed but told me that due to the age of the car, 20 years the car will more then likly be written off. This was after they took payment for the excess from me. I supposed I just want some advise on how best to approach this as I have told them under no circumstances will I accept the car to be written off, agreed value is $11800 as I never got around to adjusting it. I’m not accepting $11k for a Monaro. I don’t know what it costs to respray a car but I’m hoping only a couple of thousand. There is no panel damage just paint damage.

Cheers.

[R8HSVHRT]

Wow why so under valued mate , might have a big problem there as the wreck would be the price insured for
Mate was in the same position with his monaro didnt go well for him insurance obligations were met they said

[zorro]

Is that agreed value insured? At what point did they ever market value that low?

Anyway, a decent paint job you probably won’t get much change from 10k these days. I’d find out from Shannon’s if you get the option to continue with repair or not after it’s assessed. Before repairs it’s till your car, so I’m guessing you can cancel the claim

[Red CV8 R]

Yes, as mentioned, you don't have to continue with the claim. If they want to write it off, just cancel the claim and find someone to paint it. Even if it's just a real basic (cheaper) job. Then re-insure it elsewhere. It would be crazy to proceed at an $11,800 value !

[Toddler78]

Cheers for the responses guys. To be clear I have. I intention of proceeding with claim in the event of a write off. I was after clarification on what my options would be, spoke with them today, they told me pretty much the same that I can choose to cancel the claim at anytime, obviously I would have to incur any costs involved like the tow etc.
I’m no expert so will wait for the assessor to contact me and go from there however there is no panel damage so no replacement parts required. Bonnet and roof are really the only things that would need to be resprayed as there is only a small amount of spray on the tops of the quarter panels which may come off with a buff/clay bar. This thing does not need a full respray. In regards to the low value of the car, I will take responsibility for it as ultimately it is my fault however I haven’t had any communication with them apart from the renewal letter I get each year. They had an old email for me, so if they were ever reaching out that way I never got the emails. Obviously you get your renewal letter and if you choose not to act then it just takes effect. I’m on monthly direct debits so never had to action it so it just rolled over each year. It probably wasn’t until this thread where it prompted me to look at it properly and I was aware. It was on my list of things to do and I did get other quotes I just never got around to cancelling the insurance and accepting the new quote. I also don’t have time to sit on hold for 60mins at a time to wait to cancel or change the policy.
I’m not usually that person that says it will never happen to me but obviously that was the gamble I took.
I also have the original non fluted bonnet for it still so worse case scenario I can put that back on clean up the quarters myself and clean the windshield and I’m not out of pocket anything and I can choose to restore the car down the track which was always my plan anyway.

[BLACK 346]

Cheers for the responses guys. To be clear I have. I intention of proceeding with claim in the event of a write off. I was after clarification on what my options would be, spoke with them today, they told me pretty much the same that I can choose to cancel the claim at anytime, obviously I would have to incur any costs involved like the tow etc.
I’m no expert so will wait for the assessor to contact me and go from there however there is no panel damage so no replacement parts required. Bonnet and roof are really the only things that would need to be resprayed as there is only a small amount of spray on the tops of the quarter panels which may come off with a buff/clay bar. This thing does not need a full respray. In regards to the low value of the car, I will take responsibility for it as ultimately it is my fault however I haven’t had any communication with them apart from the renewal letter I get each year. They had an old email for me, so if they were ever reaching out that way I never got the emails. Obviously you get your renewal letter and if you choose not to act then it just takes effect. I’m on monthly direct debits so never had to action it so it just rolled over each year. It probably wasn’t until this thread where it prompted me to look at it properly and I was aware. It was on my list of things to do and I did get other quotes I just never got around to cancelling the insurance and accepting the new quote. I also don’t have time to sit on hold for 60mins at a time to wait to cancel or change the policy.
I’m not usually that person that says it will never happen to me but obviously that was the gamble I took.
I also have the original non fluted bonnet for it still so worse case scenario I can put that back on clean up the quarters myself and clean the windshield and I’m not out of pocket anything and I can choose to restore the car down the track which was always my plan anyway.

I was going to ask if the car really needs a full respray, but you have answered that question. Roof and bonnet will come in well under you 11k agreed value I would think. Get that done and then tell Shannons to insure the fkn thing for what it is worth, around 30-40k depending on condition.

[Toddler78]

I was going to ask if the car really needs a full respray, but you have answered that question. Roof and bonnet will come in well under you 11k agreed value I would think. Get that done and then tell Shannons to insure the fkn thing for what it is worth, around 30-40k depending on condition.

was exactly my plan.

What Im really hoping to get out of this by running it through insurance , is if the police charge the offender then insurance can go after him. Im hoping his decision will effect him a lot more then it will effect me

[korrupt]

How does Market Value work with these cars now? The market went up during Covid and seems to have calmed a bit, but prices are still high. If it was insured at Market Value, would it be more like $40-50k? I'm expecting my renewal in the mail soon, so will have to check my coverage.

[BLACK 346]

If you don't mind me asking, how much are Shannons charging you for this massive under insure? I know it is hard to compare vehicles, but they had no issues insuring my VU SS for 30k at a cost of $1042 per annum up $200 on previous year. That is a full use policy, not limited or layed up which would push it down a bit. The ute is in excellent condition and I had to supply photos to get that value.

[Toddler78]

From memory approx $880. I think where I and most probably others go wrong is the loyalty tax they show you your premium and you go ok I don’t have to do anything just let it tick over. I did get a comparable quote from a competitor and the premium was slightly better. Obviously the value was better. But it all fell into the too hard category to change over. What shocked me however was that for insurance companies that I had delt with in the event they offer agreed value, that have also offered market value which ever was higher at the time. Something Shannon’s don’t offer and something that was a shock to me when I found out and I wonder if others are aware of that fact.

[R8HSVHRT]

Thats not a bad price at all My vz calais costs me more

[Smitty]

How does Market Value work with these cars now? The market went up during Covid and seems to have calmed a bit, but prices are still high. If it was insured at Market Value, would it be more like $40-50k? I'm expecting my renewal in the mail soon, so will have to check my coverage.

ha... market values are aged based, not demand based and so are in the gutter

I use various vehcile price guides at work (being the fleet manager) and they are just silly for our sort of cars..

VF SSv are in the 20k numbers.. Shannons quoted me mid 30s for the R8 Clubbie as that is what
Redbook and Glass's state, used as an excuse to drop what I would get paid but still hey... increasing
premiums by a ridiculous amount

Market value is the starting bottom value in my opinion

[Swordie]

Market Value is not what is advertised retail (eg Carsales). It a wholesale type price is my understanding. Agreed value premiums usually cost more than market value.

[bigfoot]

was exactly my plan.

What Im really hoping to get out of this by running it through insurance , is if the police charge the offender then insurance can go after him. Im hoping his decision will effect him a lot more then it will effect me

How is the claim going mate?

[Toddler78]

How is the claim going mate?

Sorry for not updating. Only just got it finalised the other day and got money deposited in my account. Don’t want to post anything in a public forum until it was all done and dusted. You never know who’s reading. Any who, probably got the best out come I could hope for. It ended up taking about 3-4 weeks to hear from the assessor and true to their word they wrote the car off. I spoke with the guy and he explained to me that the salvage value of the car is actually more than the agreed value, and I told him that they didn’t see a problem with that, to which he agreed to. He ended up offering me the salvage rights to it at a very discounted cost. Car was back in my possession the next day and I good portion of the agreed value was paid out. Was it enough to repair the car myself? Probably not but it will go a long way to helping the repaint the car. I have the original bonnet for it in immaculate condition so I could put that on it and that would go a long way to making the car respectable again. The car ran out of rego whilst it was in their care so I’m not driving it at the moment. It is currently being stored somewhere safe not at home and when I get around to it I will start a full resto on it inside and out. I don’t need to daily it anymore as I have borrowed the in-laws spare runabout for a while and have ordered my first brand new car which hopefully will arrive mid to end Jan. so Monaro is retired at the moment.

[BLACK 346]

Sorry for not updating. Only just got it finalised the other day and got money deposited in my account. Don’t want to post anything in a public forum until it was all done and dusted. You never know who’s reading. Any who, probably got the best out come I could hope for. It ended up taking about 3-4 weeks to hear from the assessor and true to their word they wrote the car off. I spoke with the guy and he explained to me that the salvage value of the car is actually more than the agreed value, and I told him that they didn’t see a problem with that, to which he agreed to. He ended up offering me the salvage rights to it at a very discounted cost. Car was back in my possession the next day and I good portion of the agreed value was paid out. Was it enough to repair the car myself? Probably not but it will go a long way to helping the repaint the car. I have the original bonnet for it in immaculate condition so I could put that on it and that would go a long way to making the car respectable again. The car ran out of rego whilst it was in their care so I’m not driving it at the moment. It is currently being stored somewhere safe not at home and when I get around to it I will start a full resto on it inside and out. I don’t need to daily it anymore as I have borrowed the in-laws spare runabout for a while and have ordered my first brand new car which hopefully will arrive mid to end Jan. so Monaro is retired at the moment.

Sounds like a great result mate, glad it worked out for you. Looking forward to your resto thread whenever it happens :)

[whitels1ss]

Sounds like the best possible outcome under the circumstances Todd. :cheers:

[whitels1ss]

Just cleaned up this thread and deleted a few off topic posts about Todd's new purchase

He has opened a new thread about it..... http://www.ls1.com.au/forum/showthread.php?172041-Toddler-got-bitten-by-a-shark-(BYD-Shark)&p=2192558#post2192558