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Thread: Renewing insurance

  1. 12th January 2022, 02:57 PM #1
    Grappler
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    Renewing insurance

    My insurance is up for renewal
    The agreed value of my 2012 defender is about half value what I see them for sale!
    According to SGIo the value range is $17 to39K
    I have shopped around and $39k agreed is the best i can find
    Would I be better off with a market value policy?
    How have others dealt with the problem of inflated used vehicle prices and coservative insrance values?
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  2. 12th January 2022, 03:06 PM #2
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    350RRC
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    Start with 'Sh' and ends with 's' and has 'an non' in between.
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  3. 12th January 2022, 03:50 PM #3
    Grappler
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    Quote Originally Posted by 350RRC View Post
    Start with 'Sh' and ends with 's' and has 'an non' in between.
    Thanks for the cryptic tip
    I followed up and got a quote for $65k The premium was higher but fair considering extra valuation
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  4. 12th January 2022, 05:07 PM #4
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    scarry
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    Quote Originally Posted by 350RRC View Post
    Start with 'Sh' and ends with 's' and has 'an non' in between.
    Have a good look in the disclosure statement,they wont cover driving into water.

    Not a problem for many,but could be for some.
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  5. 13th January 2022, 09:30 AM #5
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    DoubleChevron
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    No point trying Shannon's for something made this century. Their target market is classic cars that aren't daily drivers. They are competitive for modern cars.
    Proper cars--
    '92 Range Rover 3.8V8 ... 5spd manual
    '85 Series II CX2500 GTi Turbo I :burnrubber:
    '63 ID19 x 2 :wheelchair:
    '72 DS21 ie 5spd pallas
    Modern Junk:
    '07 Poogoe 407 HDi 6spd manual :zzz:
    '11 Poogoe RCZ HDI 6spd manual
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  6. 13th January 2022, 09:42 AM #6
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    Tombie
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    Quote Originally Posted by DoubleChevron View Post
    No point trying Shannon's for something made this century. Their target market is classic cars that aren't daily drivers. They are competitive for modern cars.
    They’re very competitive.
    They also cover more than a lot of the others and their valuations are often higher.

    One I would never use is the one often touted by many as “4wd specific”
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  7. 13th January 2022, 12:41 PM #7
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    Quote Originally Posted by DoubleChevron View Post
    No point trying Shannon's for something made this century. Their target market is classic cars that aren't daily drivers. They are competitive for modern cars.
    The 'leg in' with them is to have an older car as well and tack the new one onto the policy.
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  8. 13th January 2022, 12:46 PM #8
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    scarry
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    Quote Originally Posted by Tombie View Post

    One I would never use is the one often touted by many as “4wd specific”
    That is probably the one that gives a great price the first year then it usually goes up 50 to 100% the next
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  9. 13th January 2022, 10:08 PM #9
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    it amazes me how one insurer can offer such good value to one person.

    my Ranger is insured by the same company for 8yrs......no other insurer can even come close to the premium.

    yet they absolutely hate my motorbike. so I use another insurer there.
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  10. 15th January 2022, 12:12 PM #10
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    BMKal
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    Quote Originally Posted by scarry View Post
    That is probably the one that gives a great price the first year then it usually goes up 50 to 100% the next
    The one I'm currently with is the same - just got the renewal notice and am currently shopping around. Not only does the premium go up by a significant amount, the "agreed value" of the vehicle reduces by a significant amount as well. While I currently have an "auto-renewal" option checked on my policy, that will be stopped next week. These companies must rely heavily on people not bothering to read through the policy documents each year, especially where auto-renewal is part of their system.
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