Need Insurance? Want Cheaper Insurance?

[GT-R32]

Agreed, it's a very common arrangement. The market should come to a rateable solution. Often it's up to the underwriter to decide at the time, but make sure you actually do tell them when they ask.

[Kush Shah]

just called up famous insurance and they said that they dont insure anyone under the age of 30

[Billytron]

you might not realise but this thread was started in 2003

[GT-R32]

If you're over 25 and have a decent history (claims, fines, licence etc) then call Shannons.

[thatlbeme]

Pays to be honest about your mods, get them all listed so as not to give the insurance company of your choice any grounds to dismiss your claim if the need arrises. In my case it jacked up the premium by a hundred or so dollars but the feeling of not having to stress over if they will honor the payout if needed is invaluable.

[godzilla111]

if your in qld , sa , or wa call NRMA / sgio / sgic all the same company, cheapest quote or beat by 10%, modifications covered as long as legal and do not need to list, can insure up to 140% of the vehicles market value

[GTR-N1]

if your in qld , sa , or wa call NRMA / sgio / sgic all the same company, cheapest quote or beat by 10%, modifications covered as long as legal and do not need to list, can insure up to 140% of the vehicles market value

You're at NRMA and we here at SAU would love to see greater parity and competition between insurance companies who are prepared to insure grey imports for their full value.

In NSW, the choice (for grey imp) has been Shannons, Guild, Lumley SV, Just Car and now NRMA. Guild though has been pulling out over the last year.

And Shannons and Just Car (APIA and AAMI) are part of the same group. Although there are still differences that make these two somewhat independent eg Shannons covers 1 windscreen/yr c.f. Just Car does not.

Lumley SV is going into heavy advertising on 2UE and 2WS (again in NSW). They're trying to take business off Shannons and Just Car.

They're succeeding to the extent that they're offering highly competitive premiums and at the top end, not eroding sum insured. Just Car suffers in this department (about high-end sum insured).

NRMA has a reputation (so far) in not being in the ball park (in NSW) at all of offering a decent sum insured.

Many people who own grey import muscle cars and turbo cars are peeved that NRMA is still anaemic in this department; and competitive premiums are still debatable too.

I think that NRMA could better estimate what a true worth of a car is, if they insisted on the owner bringing in their pride and joy with a list of itemised modifications to demonstrate their true value.

Then NRMA could offer a better package and eat into the competition above (and we all know that more grey imports are entering the marketplace - and NRMA knows it).

I don't think that an enthusiast would quibble about having NRMA do a look-over before insuring a car! Just Car used to do it before moving to Norwest 1Km away.

Why not make an insurance package more individual since even a muscle car may have improved Rochester carbies, Nardi steering wheel etc?

Lumley SV is prepared to come to one of our Exec Meetings to explain what more they can do for car clubs (in NSW) - since this is part of their advertising.

Can NRMA do this too? Get back to me ('er soon perhaps - because my notice of resignation is effective by the end of 2011).

My 2c

[TerminalWraith]

NRMA quoted me $2600 and Suncorp quoted me $800ish recently. Brisbane north on my GTST... I'll be staying with my $580 pa.

[GTR-N1]

You're at NRMA and we here at SAU would love to see greater parity and competition between insurance companies who are prepared to insure grey imports for their full value.

In NSW, the choice (for grey imp) has been Shannons, Guild, Lumley SV, Just Car and now NRMA. Guild though has been pulling out over the last year.

And Shannons and Just Car (APIA and AAMI) are part of the same group. Although there are still differences that make these two somewhat independent eg Shannons covers 1 windscreen/yr c.f. Just Car does not.

Lumley SV is going into heavy advertising on 2UE and 2WS (again in NSW). They're trying to take business off Shannons and Just Car.

They're succeeding to the extent that they're offering highly competitive premiums and at the top end, not eroding sum insured. Just Car suffers in this department (about high-end sum insured).

NRMA has a reputation (so far) in not being in the ball park (in NSW) at all of offering a decent sum insured.

Many people who own grey import muscle cars and turbo cars are peeved that NRMA is still anaemic in this department; and competitive premiums are still debatable too.

I think that NRMA could better estimate what a true worth of a car is, if they insisted on the owner bringing in their pride and joy with a list of itemised modifications to demonstrate their true value.

Then NRMA could offer a better package and eat into the competition above (and we all know that more grey imports are entering the marketplace - and NRMA knows it).

I don't think that an enthusiast would quibble about having NRMA do a look-over before insuring a car! Just Car used to do it before moving to Norwest 1Km away.

Why not make an insurance package more individual since even a muscle car may have improved Rochester carbies, Nardi steering wheel etc?

Lumley SV is prepared to come to one of our Exec Meetings to explain what more they can do for car clubs (in NSW) - since this is part of their advertising.

Can NRMA do this too? Get back to me ('er soon perhaps - because my notice of resignation is effective by the end of 2011).

My 2c

NRMA quoted me $2600 and Suncorp quoted me $800ish recently. Brisbane north on my GTST... I'll be staying with my $580 pa.

See Mr NRMA? This man ^ ^ ^ is not stupid!

[luke gtr]

With lumley sv, got a quote that wasn't too bad, but they do not offer the rights to salvage.

Thus would he a BIG thing for me in the fact that they wouldn't cover the cost of all the mods/work I've done, instead covering upper end of market value, with pictures required.

If they won't cover the midst, is like to get them back off the car, to put on the next project.

The buzz insurance that has been running adds on tv in Sydney, had an alright price, but as soon as I went to add engine mods, said they couldn't insure.

Just car is pretty steep. 5 years, could pay for the purchase price of my car, without excesses being considered, more, and its all mods.

Last time I called shannons, they said and quote,"about 4-5000 dollars, it'd be cheaper else where".

Then turned around and quoted 600 on a 69 camaro, a car that's worth about twice as much as mine, and has no abs...

I might start doing another round.

See how all the companies compare again...

[evil_weevil]

A camaro and GTR arent apples and apples

with those niche insurers they are actually well priced for the older classic market - hence your premium.

[Rolls]

Pays to be honest about your mods, get them all listed so as not to give the insurance company of your choice any grounds to dismiss your claim if the need arrises. In my case it jacked up the premium by a hundred or so dollars but the feeling of not having to stress over if they will honor the payout if needed is invaluable.

Unless they would have not given you insurance in the first place or the mods caused the accident they still have to pay out.

[MSTRshenanigans]

Spew. NRMA quote $949 pa for max sum insured $7140 and excess of $800.

Suncorp just quoted $674 with $1250 excess and sum of $11000.

Just car $1076. Excess $400. Sum $12700.

Checking others. 97 gtst

Edited October 17, 2011 by MSTRshenanigans

[Count Grantleyish]

Hi all,

Sorry to bring up a old thread (at least I searched!).

I need a insurance co other than Just cars, I park my car outside (have garage but not easily accessible at times), I'm 25 now and am after another Import and all cars I'd like to buy that are 'overpriced' according to Insurance co's valuation.

So what I need is a insurance co with reasonable premium, excess, and agreed value i.e. the price of cars on market. That is ok with car being parked outside overnight, daily driven, will insure modifications. I'm in VIC by the way.

Thanks

Grant

[GTR-N1]

The only companies Grant which offer Agreed Value and cater for modifications with increased Sum Insured that I know of are Just Car, Shannon's and Lumleys SV. And even they don't take kindly to even carport parking let alone driveway parking.

Lumleys SV is part of the Wesfarmers group. They cover breakage to any window & will allow choice of repairer.

Just Car, Shannon's, Aust Pensioner Insurance, AAMI, Aust Alliance are part of the Suncorp group. But whereas Shannon's allows choice of repairer, AAMI and Just Car have their own repairers + allow your own repairer to quote on damage ; but they go with the cheapest quote. They will cover front windscreen only.

My approach is this: I know that an insurance company upon renewal expects that I'll remain loyal to it. But each year I shop around so that when it asks me if the quote is competitive, I can weigh up if the Sum Insured as well as the Premium is not satisfactory. In other words, that company will never be sure that I am loyal to it - because the fact is; I shouldn't be. I've noticed that any company can fluctuate from year to year as dictated by their own actuarial data.

GIO, Guild Insurance and NRMA with its affiliates don't even rate well any more IMHO

[Count Grantleyish]

Does Just Cars even offer agreed value, I've been told they screw you over come claim.

Famous - they don't insure anyone under 30 anymore?

Shit, I might have to live with Just Cars' ridiculously high premiums and excess.

[GTR-N1]

Just Car will still offer Agreed Value policies.

* I suspect that they may not be so generous in covering the full value of mods

* I suspect that they may not cover windscreen breakage

* For theft claims, they pay up ok, so long as you've kept up your end of the bargain on the policy

* Where people get screwed (sometimes) is that you need to leave your car with the cheapest repairer in a damage claim. Now here lies a 'pot luck' situation Grant as to whether the repair or paint job is up to speed or not.

* The Excess you'd pay in an At Fault accident is on par with other companies.

This time around, I've gone for Lumleys SV, even though I've insured GTRs with Shannon's and Just Car before, in fact my wife's Bimmer and my Foz XT are still with Shannon's. It's the GTR that is insured with Lumleys SV with a Premium saving of over $900

[Count Grantleyish]

Terry, thanks for that, shall ring LSV and see what they have to say, I won't have this issue if I were to buy another Skyline (price purchased vs sum insured for) but other cars, that is proving a mission itself...

[Count Grantleyish]

Looks like I'd have to make my next car a weekender or live with Just Car's undervaluation, higher premiums and excess...

I'm 25, surely my premiums would be lower but apparently not.

[GTR-N1]

A few short years ago, the age of 25 was the threshhold for lower premiums.

Then the companies moved the 'goalposts' to 30.

So just through one foul stroke of an actuary's pen, you poor blighters have to pay more again.

I wonder what's down the track in 30 years' time?

Perhaps DNA testing for Passive-Aggresive Mood Disorder, Bipolar II and Schizophrenia, causing premiums to go north?