just received my renewal policy from shannons in melb. the sum insured has been down graded from 15000 cover to 11000 thats a 4000 drop in one year. i rang them to find out why, they said because of the japanese car market,, and p plate drivers cant drive twin turbos any more, plus a few othere reasons. i do get a good deal from them just the same 495 per year. has anyone else found this when they renewed there policy recently. i think it sucks, our cars seem to devalue all the time, 11000 what a joke.:bash:
can i ask how old you are? cause i got a quote at sevral places for an 18 yo driver in a zed n/a.... and got quotes of like 1000-2000? wth?
age i am 58 years old, and yes i thought they had agreed value. they did not mention it to me, i said i was willing to pay abit extra, they said they need to see the car, and even then they could not assure me that they would increase it. and i consider my car in very good condition. we will see when i take it down to see them.
yep .. i am with shannons .. agreed value $15,000 for the past 3 years .. just sorry that i did not nominate a higher figure when first insuring ....
I'm with Shannons and I have an agreed value of $18K. Will be interesting to see the renewal in April to see if there is any change. Tony
me too bigmax... I have been with shannons for 4 years now.... initially, the zed was insured for $20K agreed value, and they held that price for 3 years..... then last year it dropped to $18K, and I just got my renewal for this year. It is now $16K. I rang them and questioned them about this, and they explained to me a similar story to you.... and that even though I had agreed value for $20K, over the years, this price will drop and they now think that $16K is fair estimate... I dont totally disagree with them, because for $16K I can buy a nice zed, and still have a few thousand left over to play with.... They did say to me that if I thought this new price was unfair, I could take it down to the shannons office and get it inspected... I would have no trouble with this because I had to this initially when I had it insured for $20K.... and the car s a lot nicer now, than it was when I get the $20K value..... but at the same time, I'm happy to pay a lower annual premium, so for now, the $16K insurance value is fine... my limit is $14K... once it drops that low, I will have the car inspected and ask for a higher insurance price..... Cheers
I got my zed 6 months ago and phoned around couldnt believe the prices $1200 -$1500 i rang RAC,Shannons,ect all the big name insurers in the phone book ended up with ING $500 full insurance agreeed value its only insured for $12,000 hey but iam happy
Surely the new rules for P platers and turbo cars would not reduce the value of your car, if anything it should increase it being a fairly powerful car that is still P plate friendly.
Agreed value, $20,000.00 I had to provide a list of mods (which I really should update) to get that figure.
Max, I have all my cars with shannons on agreed value and if it's inconvenient for you to take the car down they will accept photos and a description of any mods. That is all I have had to do. I have been with them now for around 7 years and have had no problem when I want to add another car or modify my existing policies. Give them a ring I am sure they will comply. Dave.
agreed ... !!! .. how can they unilaterally reduce the insured value ... that is no longer an "agreed" value .... most of us has significantly improved all up value from date of purchase .... should shannons pull this stunt on me, i will quickly be on my bike .. or easier still .. on my camera ... !!!
im with shannons now as of last month. gave me $18k and i pay 1890$ a year. Im 25. Next year it will drop to 1500 as ill be over 25. (Im 25 in april so might just stop the insurance and try again. If i have such a big saving!) I told them all my mods ( http://www.icerslair.com/mods.txt ) (GARAGE) and yeah....i wanted 20k but they said no. I submited pics etc and still got only 18k. Im like ive spent 40k and have reciepts etc and still nope. 18k max. Just cars said 1650 but only 16k insurance. And it will drop over the years. And cannot use my own mechanics etc. Which is a MUST for me now ever since RACV ****ed me up (even though i slapped them for 18k from 7k. noobs)
Do we know how much insurance would be for an NA (jap and aus spec) in SA for a 19 yr old girl? And also an NA (jap or aus spec) in SA for a 48 yr old guy? (incase its insured in my dads name) Thanks
You really have to give the insurance company your driving history, your finance on the car, what mods it has, the general condition of the car, where its parked and what suburb you are in. All these things, and probably others I have forgotten, are what will determine what you pay.
