Fyi: Just Cars Insurance Renewal And Agreed Value

[sl33py]

I just got my renewal bill from Just Cars Insurance, and was hoping that the premium would be less than last year. But it wasn't. So I rang up to ask about it, and they said it's only calculated on the type and age of car, the driver's no claims bonus (mine was already at 60%) and because I turned 25 I just avoid the underage excess in the unlucky event something should happen. Fair enough.

BUT, what I did find out is: the guy I spoke to saw my the agreed value of my car and said "jeez, they gave u a bit too little last year" and he said he'd see how much he could bump it up. Sweet! I thought. And he increased the agreed value from 20500 to 21500, new paperwork will be sent out etc. Then I said "so does that apply from now on or do I have to ring up again next time?" and he said that each year the premium is calculated, it will go down to market value again! I don't know how accurate this is, or if it applies to all cars, but I found it very interesting, and I'll definitely be ringing up next year to try and fanagle a higher agreed value out of them again!

I guess sometimes it pays to ring up and ask (nicely) about why things are the way they are, instead of just grumbling about insurance costs like some friends I have

Food for thought! I'd be interested to see if it works for anyone else. Try it and let us know!

[Jdfnq]

I looked at just cars origionally, however the excess if anything happened added up to be like $1500... And I am over thirty with 60% no claim ....

Went to Shannons and not only was the insurance cheaper(by like over $300), but also the excess was only $500.....

However, as you said it pays to be nice and honest with the insurance guys and it usually pays off....

[sl33py]

Yeah, I rang Shannons when I first bought the car and they didn't want to know me because I'm not a member of any car enthusiast groups. Just Cars were the only ppl that would insure me, and the bank my loan is through are the only ppl that would fund me I had to have the car tho haha

[lanky71]

I am with Just Car and they told me that they only did market value not agreed value.

Not sure if it is a case by case thing or not cause for my R34 GT-T 1998 stock with upgraded stereo it is only insured for $22500...

Me being 22 years old and only have 50% ncd as I had an incident end of last year costs me $2105 but then the excesses add up to $1200 is stollen or $1800 if in a at fault accident. Or something like that coulnd't be bothered to get the paper work out.

Funny thing is, my Alfa was costing me $2800 in insurance and it aint a turbo and it was totally stock...

And that was thru AAMI, Just Car wanted $2500 for it. And it was insured for about the same price as the skyline.

Drew.

[Munkyb0y]

Yeah, I rang Shannons when I first bought the car and they didn't want to know me because I'm not a member of any car enthusiast groups. Just Cars were the only ppl that would insure me, and the bank my loan is through are the only ppl that would fund me I had to have the car tho haha

but you are a member on this forum. believe it or not, that's enough.

i'm with shannons.

[GT-R32]

Yeah, I rang Shannons when I first bought the car and they didn't want to know me because I'm not a member of any car enthusiast groups. Just Cars were the only ppl that would insure me, and the bank my loan is through are the only ppl that would fund me I had to have the car tho haha

Have to agree. The fact you are on here posting, being 'enthusiastic' about your vehicle is enough. The person you got on the phone didn't ask enough questions.

[Abo Bob]

but you are a member on this forum. believe it or not, that's enough.

i'm with shannons.

I think maybe they just didn't understand what you were saying and you got lucky. If that always worked anyone could get an account on SAU for nothing then get a discount by saying that proves they are an enthusiast when actually it only proves you can work the internet.

The various state chapters of SAU don't charge much for membership and it's worth it in more ways than one.

[VB-]

I think maybe they just didn't understand what you were saying and you got lucky.

nope, worked for me too, only problem was i was too young to go with them anyway...

[LatinR33]

Yeah I work in insurance and yeah it pays off to call up and enquire nicely. Im with just cars and im on agreed value not to sure why they said they only do market value. Market value is crap!!! It means they work out the value of your car upon your claim. You may think you r car is insured for $20,000 but then the assessor goes aww the market value now is much lower and thats all your going to get.

[xRHETTx]

Yeah im on agreed with Just cars too.

They do it, as long as you dont overestimate the value of your car too much.

Also the agreed value automatically goes down by a little each year. (as the car gets older)

[kralster]

Well my first year age 20 with a stock R34 GT-t was 2800 a year agreed value 27500.

This year age 21 with a stock R34 GT-t was 1700 a year with agreed value of 30000.

Figure that out.

[GT-R32]

I think maybe they just didn't understand what you were saying and you got lucky. If that always worked anyone could get an account on SAU for nothing then get a discount by saying that proves they are an enthusiast when actually it only proves you can work the internet.

The various state chapters of SAU don't charge much for membership and it's worth it in more ways than one.

It's not about a discount per se, Shannons don't do any official national 'club member' discounts. They used to but not anymore, I was told by a Shannons employee it all stopped because people were joining clubs to get a discount on insurance. It's about getting offered cover by them at all, you can be declined for not fitting their underwriting guidelines.

Shannons insure the 'motoring enthusiast'. It is their main underwriting criteria so you have to demonstrate that. Frequenting a forum of your chosen vehicle or even one you don't have (ie. your favourite or dream car) is one of the hundreds of ways you can show you are into your car(s). Going to car shows, watching car oriented TV shows, reading car magazines, watching motor racing are all ways to show you are into cars.

[Duncan]

umm actually shannons certainly do offer discounts, and they are significant, I just got many hundreds of dollars off my insurance.

You need to hold a CAMS license, they will ask the number. All you need is an L2S which is $85 + being a member of a CAMS club like SAU NSW orr SAU Vic.

[GT-R32]

umm actually shannons certainly do offer discounts, and they are significant, I just got many hundreds of dollars off my insurance.

You need to hold a CAMS license, they will ask the number. All you need is an L2S which is $85 + being a member of a CAMS club like SAU NSW orr SAU Vic.

I ment 'official'. Who did you speak to there?

[GT-R32]

Yeah and underwriters load or discount to their discretion depending on the sitiuation of the client (competitors etc. - aside from built ins like multi vehicles), and also depends on their level. They may refer to higher up for either.

[2rismo]

Vigil = $1376 - over 25 (28) - agreed value $25,500 - 60% NCB.

[_8OO5TED_]

The CAMS discount is official and loading and discount otherwise, is almost non-existant now. Shannons policy benefits speak for themselves

Edited September 18, 2006 by _8OO5TED_

[Midol]

What is a CAMS license?

[_8OO5TED_]

Confederation of Australian Motor Sport license

Edited September 18, 2006 by _8OO5TED_

[GT-R32]

The CAMS discount is official and loading and discount otherwise, is almost non-existant now. Shannons policy benefits speak for themselves

I stand corrected! Cool. Things move quite quickly, and I s'pose premiums are going to be more consistent now (apart from the massive, obvious state differences).