Insurance recommendations ?

[JohnboyLandy]

Hi All,

Probably a bit premature for me to ask this question, as I don't have my road worthy yet, but when I was looking for new insurance for my other cars at Budget Direct, I tried getting a quote for my 1971 S2A, but it seems they don't want to insure it.

Does any one else have experience / recommendations with Country Wide insurers ?, i.e. not your state based RACQs etc.

Thanks
John

[1950landy]

I have S1 &BMW insured with Shannons, & brother has his BMW race car with them also . Brother had his Mk 2 Jag with them when it got written off , had his money within the week plus the wreck. Booth my cars have agreed value insurance & the premium was cheapest I could find.

[gromit]

Lots of people use Shannons, I switched away from them and made a big saving on my Defender, plus at the time Shannons wouldn't insure for the agreed value I wanted.
I use RACV Classic, seems RACQ also offer Classic Car Insurance (probably through the same 3rd party).
Classic Car Insurance - Enthusiast Insurance - RACQ (https://www.racq.com.au/insurance/get-insurance/car-insurance/enthusiast-car-insurance)

Might be worth a phone call.


Colin

[ozscott]

I dont think you get to keep the wreck as a right with RACQ Classic unless its more than 30 years old. From memory Shannon's you do.

Cheers

[gromit]

I dont think you get to keep the wreck as a right with RACQ Classic unless its more than 30 years old. From memory Shannon's you do.

Cheers

With RACV I think it was 25 years to get automatic 'right of salvage'.
You have to pay for it but always get the option to buy the wreck. Worthwhile checking when getting quotes.

Colin

[Homestar]

I have all my old vehicles insured with Shannon’s.

[101RRS]

I also have all my old vehicles insured with Shannons as "modern vehicle" insurance companies do not seem to have the type of cover required - and that includes the Classic coverage of companies like NRMA.

Conversely, I have found Shannons are no good for normal non classics like my RRS - too expensive - they even told me on the phone "modern" normal vehicles are not their thing.

Garry

[p38arover]

Shannons may not be the best choice.

I got a quote today for my wife's 2009 Forester Turbo ($17,900) (due next month)
Shannons $1,072
AAMI $697 (current insurer)

and I got quotes for my motorbike 2007 Yamaha XJR1300 ($6078), too.

Shannons (current insurer) $221 for Extreme Limited use, i.e., 24 times a year, $256 for limited use (twice a week)
AAMI $259 full comprehensive, no limit on use. I think I'll be changing (it's due next month)

[101RRS]

But Ron that is to be expected - Shannons are a "classic" insurer and there is nothing you have there that is classic.

[DiscoMick]

Last time I compared Youi were the cheapest.

[Homestar]

Shannons may not be the best choice.

I got a quote today for my wife's 2009 Forester Turbo ($17,900) (due next month)
Shannons $1,072
AAMI $697 (current insurer)

and I got quotes for my motorbike 2007 Yamaha XJR1300 ($6078), too.

Shannons (current insurer) $221 for Extreme Limited use, i.e., 24 times a year, $256 for limited use (twice a week)
AAMI $259 full comprehensive, no limit on use. I think I'll be changing (it's due next month)

Newer vehicles may well be worth looking elsewhere but I haven’t found an insurer that will come close to Shannon’s for older vehicles. I just insured the Jag and I could get full comp, no limit on use quite a bit cheaper, but value was way less than half of what Shannon’s would insure it for. AAMI and a couple of others would only insure it for just over $6,000 and Shannon’s covered it for $16,000. No automatic rights to the wreck either with others. Check the fine print. Shannon’s can have my money based on what I found out.

[Homestar]

Last time I compared Youi were the cheapest.

They were VERY expensive the twice I’ve got quotes from them - if you park your car in the garage 364 days a year they seem to be cheaper but tell them you do 10,000km a year and the vehicle lives in the driveway and premiums seem to triple... Certainly for me anyway.

[JohnboyLandy]

WOW a lot of responses - thanks everyone.

The consensus seems to be Shannons are the way to go.

Cheers,
John

[whitehillbilly64]

lots of kombi owner use Shannons.
i was told the are the only ones to allow you to buy back the wreck.

whitehillbilly

[ozscott]

Newer vehicles may well be worth looking elsewhere but I haven’t found an insurer that will come close to Shannon’s for older vehicles. I just insured the Jag and I could get full comp, no limit on use quite a bit cheaper, but value was way less than half of what Shannon’s would insure it for. AAMI and a couple of others would only insure it for just over $6,000 and Shannon’s covered it for $16,000. No automatic rights to the wreck either with others. Check the fine print. Shannon’s can have my money based on what I found out.Yep spot on mate. I insured my D2 for over 20k and once I went through on the phone what it had they said 1. Sounds like a good Zombie day vehicle and 2 they thought it was definately worth that dough. So money paid job done. Only about $200 a year more than RAXQi who would not agree market value/any value even after being with them with that vehicle for 16 years...and they said if I made any more improvements they wouldn't insure me
...I wasnt impressed from the insurance side of motoring club.

To anyone getting agreed value policies just check the product disclosure statement and make sure there are no.sneaky terms like agreed value is the lesser of the agreed value sum or market value...

Shannon's are very good to deal with too (as RACQi was 20.years.ago in the same way...a smaller more personable insurer). RACQi is still good IMHO for new vehicles and home loans.

Cheers

[101RRS]

lots of kombi owner use Shannons.
i was told the are the only ones to allow you to buy back the wreck.

whitehillbilly

Generally with Shannons for classic cars you do not have to buy the wreck back, it remains in your ownership so you get it back for nothing.

[numpty]

I have my two historic reg vehicles (Series 1 and Gunbuggy) insured with NRMA Classic. Agreed value, I get to keep the wreck (not that anything is going to happen) and costs about $50 to $70 to insure.

[B.S.F.]

Shannons was the only company that I could find that would insure my fully registered S1 109 daily driver. Agreed value and salvage rights.
.W.

[whitehillbilly64]

Turning into a good Thread.
Sticky maybe ?

whitehillbilly

[ozscott]

Yep these threads are very good.

Cheers

[QRS40]

Another +1for Shannons (for classics, not modern). They are the only insurance I have ever come across for any of my cars that have voluntarily, ie without me asking, INCREASED my agreed value- and at no change to premium either.