Shannons quotes

[Neale]

Originally Posted by XF Falcon

Has anyone here with Shannons actually had to make a claim and if so how did it go?

Were they very helpful, did the car get repaired okay..etc

my dad had a claim with shannons where the car was written off (head on with another car & he was not at fault). he was happy with the whole thing & got the money without a long wait or hassle.

[Murph-51]

Before I get on my high horse and phone Shannons,

Can someone please explain to me,

I have 3 vehicles insured with Shannons, including my house and contents insurance.
Last year I added the 2nd of 3 vehicles I have with them to the policy (the 2nd being a 2006 CV Rav4) Agreed value at the time being $17500 with a premium of $504.34
1 year later a renewal notice turns up, they have dropped the agreed value to $15900 (which I guess is the market value now) Yet the premium has gone up to $521.87.
Can I assume every year on from now the value will decrease by about 10% but my premiums will increase by around 5% ???

[xisled]

Originally Posted by Murph-51

Before I get on my high horse and phone Shannons,

Can someone please explain to me,

I have 3 vehicles insured with Shannons, including my house and contents insurance.
Last year I added the 2nd of 3 vehicles I have with them to the policy (the 2nd being a 2006 CV Rav4) Agreed value at the time being $17500 with a premium of $504.34
1 year later a renewal notice turns up, they have dropped the agreed value to $15900 (which I guess is the market value now) Yet the premium has gone up to $521.87.
Can I assume every year on from now the value will decrease by about 10% but my premiums will increase by around 5% ???

This is the case with most insurance policies. The value of the car decrease, but the cost to insure the car increase.

The reason for this, is the repair cost of the car, how much Shannon's had to pay out in claims for your type of car, the area you live in, your type of car may be a theft target in the area you live in etc.

I will give you an example, your mirror gets damaged when your car is in the first year, Shannon’s will repair the car it will cost them $200. 5 years down the track Shannon’s need to replace the mirror again. The car is worth less, but the cost to repair the car now is $300.

[Whitey-AMG]

Originally Posted by Murph-51

Before I get on my high horse and phone Shannons,

Can someone please explain to me,

I have 3 vehicles insured with Shannons, including my house and contents insurance.
Last year I added the 2nd of 3 vehicles I have with them to the policy (the 2nd being a 2006 CV Rav4) Agreed value at the time being $17500 with a premium of $504.34
1 year later a renewal notice turns up, they have dropped the agreed value to $15900 (which I guess is the market value now) Yet the premium has gone up to $521.87.
Can I assume every year on from now the value will decrease by about 10% but my premiums will increase by around 5% ???

You ring em up and negotiate.
If your cars are in excellent condition / maintained and serviced and you have a good driving history......there is no reason you can't maintain your agreed value and also maintain your premium at a reasonable level.

If you don't ring em and talk it through..... Someone else will and you'll be the one subsiding the short fall from someone else's negotiated cheaper price.

You don't ask...... You don't get.

[Silver Ghia]

Originally Posted by Murph-51

Before I get on my high horse and phone Shannons,

Can someone please explain to me,

I have 3 vehicles insured with Shannons, including my house and contents insurance.
Last year I added the 2nd of 3 vehicles I have with them to the policy (the 2nd being a 2006 CV Rav4) Agreed value at the time being $17500 with a premium of $504.34
1 year later a renewal notice turns up, they have dropped the agreed value to $15900 (which I guess is the market value now) Yet the premium has gone up to $521.87.
Can I assume every year on from now the value will decrease by about 10% but my premiums will increase by around 5% ???

You're lucky, my FG XR50 premium (my daily driver in my combined Shannons policy) went up nearly 20% from last year.

Originally Posted by ESP

You ring em up and negotiate.
If your cars are in excellent condition / maintained and serviced and you have a good driving history......there is no reason you can't maintain your agreed value and also maintain your premium at a reasonable level.

If you don't ring em and talk it through..... Someone else will and you'll be the one subsiding the short fall from someone else's negotiated cheaper price.

You don't ask...... You don't get.

Did that twice with two reps, they didn't budge, unlike previous years when they did come back with a more competitive quote.

So I'm no longer with Shannons with both cars, and saved a couple of hundred dollars.

[Whitey-AMG]

Originally Posted by Silver Ghia

Did that twice with two reps, they didn't budge, unlike previous years when they did come back with a more competitive quote.

So I'm no longer with Shannons with both cars, and saved a couple of hundred dollars.

Shame .....I've always had good results after a chat on the phone. I am however extremely demanding and can be very persuasive .......

I have taken the car down to Shannon's office twice over the years for an inspection to prove my point.

[DJM83]

Originally Posted by bangm001

I tried to quote up my F6s with them online (cant be bothered with all the rubbish you have to go through on the phone with insurance companies) but obviously FPVs are not enthusiasts cars and are not listed.

I remember not even being able to get a quote from them at all until i turned 25.. So anyone under cant be an enthusiast either..
Ill keep using AAMI thanks.

Same thing happened to me, i cant insure my modded XR5 but i can insure an LX Focus. For motoring enthusiasts eh.

Yep im sticking with AAMI, insured with all mods.

[XB GS 351 Coupe]

Originally Posted by xisled

This is the case with most insurance policies. The value of the car decrease, but the cost to insure the car increase.

The reason for this, is the repair cost of the car, how much Shannon's had to pay out in claims for your type of car, the area you live in, your type of car may be a theft target in the area you live in etc.

I will give you an example, your mirror gets damaged when your car is in the first year, Shannon’s will repair the car it will cost them $200. 5 years down the track Shannon’s need to replace the mirror again. The car is worth less, but the cost to repair the car now is $300.

Sorry but that is a load of BS.

Have never had this happen with any insurance company other than Shannons.

If the mirror cost's $200 when new and for some reason costs $300 five years down the track (which is unlikely as they can be had cheaply at the wreckers, and most insurance companies will not replace old parts on an old car with brand new parts, it only has to be an equivalent part).

And lets say this really happens, Shannons has also been collecting a premium for the last five years, which they were happy to take, and people don't usually claim for $300 damages as the ridiculously high excess will stop them doing it.

I recently had someone key some panels on one of my cars and I payed the $1000 to fix it myself as the $800 excess and the increase in premium for the next five years did not make it worth while to claim anyway. So they pretty much make sure that you only claim for serious damages.

I live in the lowest crime area in NSW, and have had zero claims, so it can not be the area or my driving that pushed the premium up and value down at the same time, I think it's just pure greed, especially since pretty much any insurance company gives a better deal

I love the stupid adds 'for the motoring enthusiast', makes me sick to see them on TV

I am glad to read that other are also voting with their feet and changing insurers

[BPXR6T]

Shannons are on the nose big time. I'm a long term customer and am in the process of moving my 5 cars and house/contents elsewhere due to massive premium increases over this last year.

[SpoolMan]

Originally Posted by ESP

Shame .....I've always had good results after a chat on the phone. I am however extremely demanding and can be very persuasive .......

I have taken the car down to Shannon's office twice over the years for an inspection to prove my point.

I seen how this works first hand, few years back I went to a car show with your brother, the Shannons Rep looked at the Pacer and said yes no problem bumped up the value.

[xisled]

Originally Posted by XB GS 351 Coupe

Sorry but that is a load of BS.

Have never had this happen with any insurance company other than Shannons.

If the mirror cost's $200 when new and for some reason costs $300 five years down the track (which is unlikely as they can be had cheaply at the wreckers, and most insurance companies will not replace old parts on an old car with brand new parts, it only has to be an equivalent part).

And lets say this really happens, Shannons has also been collecting a premium for the last five years, which they were happy to take, and people don't usually claim for $300 damages as the ridiculously high excess will stop them doing it.

I recently had someone key some panels on one of my cars and I payed the $1000 to fix it myself as the $800 excess and the increase in premium for the next five years did not make it worth while to claim anyway. So they pretty much make sure that you only claim for serious damages.

I live in the lowest crime area in NSW, and have had zero claims, so it can not be the area or my driving that pushed the premium up and value down at the same time, I think it's just pure greed, especially since pretty much any insurance company gives a better deal

I love the stupid adds 'for the motoring enthusiast', makes me sick to see them on TV

I am glad to read that other are also voting with their feet and changing insurers

The point I was making went straight over your head. When you repair a car you do not only pay for the part, you pay for the labour to fit and paint etc. the labour, the paint, all increase as each year goes by. Insurance is not about you as 1 driver, it is about everyone who drives. Love when people say about crime rate, because crime rate is only a small part of the policy price.

I will let you in on a seceret. You live in a suburb no where near the city and you work in the city and you park your car in the city during the day for work, you come back to your car and find it damaged, the actual cost of that claim is put against the postcode were you live, not against the place were the incident happened. So you may live in a low crime area but if heaps of people have claims from your area your premium will be higher.

Insurance premiums are all based on stats not individual drivers.

[Yellow_Festiva]

I have just renewed my CTP with Shannons. As with all payments like this I always re-quote the policy with a few other mobs to see where it stands in terms of value. I can't remember who underwrites their CTP, but the Shannons renewal was well below the independant online quote for the same company, and around $300 below the top price.

Can't complain about that... But seriously, CTP is edging closer and closer to what I pay for full comp.. not happy.

[Whitey-AMG]

Originally Posted by SpoolMan

I seen how this works first hand, few years back I went to a car show with your brother, the Shannons Rep looked at the Pacer and said yes no problem bumped up the value.

Yep - Shannons in Melbourne are not a bad mob to deal with.........
Not sure what they're like in other states ?

[superfly]

I've never had any trouble with Shannons in Brisbane. A couple of times they dropped the value of my old WRX down too low but a quick call and they fixed it all up.
Only reason my XR50 is not with them is due to them being way to expensive for it.
But my house/contents and the wife's WRX are still with Shannons.