Shannons Insurance Premium Rise

[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.

[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

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.

[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.

[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.

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.