Shannon's Insurance

stazza · 21-02-2019, 03:49 PM

G'day everyone. I've got a couple queries for any of you who may know the ins and outs of motor vehicle insurance, more importantly Shannon's, and how much their emphasis on insurance for performance cars is really worth in comparison to other insurers that don't place such a high emphasis on modified cars.

My GS hasn't been on the road in over a year due to me changing engine and several other things, so I've not even had it insured.

I'm recently re insuring it, and I had previously been with Shannon's, and considering again. So basically what I am asking is:

Under what circumstances do they actually cover modifications? Do the mods have to be engineered and signed off?

Is it really worth me going into detail with them and giving them a list of the mods, including engine internals?

The more mods I have listed, does it increase my premiums?

Has anyone made a claim with them before and had them refuse it due to modifications?

I would ask them but I'd prefer to be spared the technical jargon and the sales techniques.

Cheers.

PB Van · 21-02-2019, 06:35 PM

Quote:

Originally Posted by stazza

G'day everyone. I've got a couple queries for any of you who may know the ins and outs of motor vehicle insurance, more importantly Shannon's, and how much their emphasis on insurance for performance cars is really worth in comparison to other insurers that don't place such a high emphasis on modified cars.

My GS hasn't been on the road in over a year due to me changing engine and several other things, so I've not even had it insured.

I'm recently re insuring it, and I had previously been with Shannon's, and considering again. So basically what I am asking is:

Under what circumstances do they actually cover modifications? Do the mods have to be engineered and signed off?

Is it really worth me going into detail with them and giving them a list of the mods, including engine internals?

The more mods I have listed, does it increase my premiums?

Has anyone made a claim with them before and had them refuse it due to modifications?

I would ask them but I'd prefer to be spared the technical jargon and the sales techniques.

Cheers.

Hi

I have a number of cars & bikes with Shannons over the years and have never had a drama, even when making a claim.

I did have questions about some mods I made to a car years ago and found their phone staff very helpful and understanding of my questions, they provided straight answers in simple terms with no legal BS.

Grab the phone and give them a call.

Cheers
PB

NTF6 · 21-02-2019, 07:20 PM

All insurance companies are awesome until you make a claim, it's how they deal with your claim that weeds out the chaff. Sorry though I'm no help with your question, although I have just switched over two of my cars from Alianz to Shannons and the bloke on the phone could not have been more helpful and more likeable, plus they saved me a shedload more off my premiums and for better cover.

The Yeti · 21-02-2019, 07:38 PM

Made claims with Shannon’s and they were awesome

LG17 · 21-02-2019, 07:48 PM

I listed the mods (only minor) to my car when I first insured with them and there wasn't a problem. I don't know if the premium was higher or not.
I haven't had to make a claim.
Recently I took it off the road to straighten it up and respray it.
Rang them and it is still insured for the same amount of money for a much lower premium while I do it.

roddy1960 · 21-02-2019, 08:13 PM

Every June we hold our local car show and Shannons is our major sponsor . They run an information booth on the day too .

I have my XR6 , my AU ll and my old Honda Accord insured with RACT (Royal Automobile Club of Tasmania ) and have never had any more than a couple of windscreens and such ..They do have a pretty good Roadside Assist though and the premiums are pretty good I think.. No grief when I asked to upgrade the agreed value of the XR6 from $12,000 to $14,000 about 12 months ago .

On the Car Show day I went up to speak to the consultant from Shannons though out of curiosity and I was impressed to say the least with the options , prices and such . Thought long and hard about it but as there was minimal difference to RACT premiums I ended up staying with them but if/when I switch insurers they'll be at the top of the list ..

LeadFoot81 · 21-02-2019, 09:35 PM

Are there any hoops you have to jump thorough to get insurance through Shannon's?

Years ago I had a bad experience trying to get a quote with Shannon's over the phone, the operator was difficult and basically told me that due to not being in a club or in the auto industry they wouldn't cover me.

It put me off Shannon's for years, but if their rates and service are good, I'd get a quote for a combo deal on my daily and weekender.

JC · 21-02-2019, 10:14 PM

Quote:

Originally Posted by LeadFoot81

Are there any hoops you have to jump thorough to get insurance through Shannon's?

Years ago I had a bad experience trying to get a quote with Shannon's over the phone, the operator was difficult and basically told me that due to not being in a club or in the auto industry they wouldn't cover me.

It put me off Shannon's for years, but if their rates and service are good, I'd get a quote for a combo deal on my daily and weekender.

You no longer have to be in a club etc. They are very good to deal with. I have both my GTs insured through them and I alternate laid up cover on each every 3 months.

creative · 22-02-2019, 06:05 PM

I had the ute, Gf's Kia rio and the house content insurance.

The ute had all mods declared and NOT engineered at the time of going up in flames. I was allowed to buy it back, it was paid out in full and all done and dusted within 10 days. Wasnt asked for any engineer reports etc etc at all.

Before I had the blower kit put on I called them to ask if it was ok to do and premium cost and they were more than happy to insure it along with a $100pa increase... it was a no brainer!

Still have the kia and the house insured with them and when I get another build on the go it will be insured with them again.

**FTE217** · 22-02-2019, 06:36 PM

I got the jack of them years ago due to the usual dropping of agreed value each renewal which is common but I may have got a phone room person on a bad day then again I recall discussing with their Supervisor.
Whatever I just thought bugga you being they had the major market share back then, went to Ryno, never looked back and very easy to deal with, infact just through email at renewal time nowadays like adding larger aftermarket wheels etc....
Haven't had to make a claim mate but the T3/Sprint at low k usage is a rippa deal.

hawke · 22-02-2019, 08:15 PM

Their claims service is a little ordinary if your claim is out of the ordinary.

On a recent on track claim at Winton racetrack, they had enormous difficulty in accepting that there was no "cross street" on the back straight.

The Yeti · 23-02-2019, 05:59 AM

Quote:

Originally Posted by FTE217

I got the jack of them years ago due to the usual dropping of agreed value each renewal which is common but I may have got a phone room person on a bad day then again I recall discussing with their Supervisor.
Whatever I just thought bugga you being they had the major market share back then, went to Ryno, never looked back and very easy to deal with, infact just through email at renewal time nowadays like adding larger aftermarket wheels etc....
Haven't had to make a claim mate but the T3/Sprint at low k usage is a rippa deal.

That’s odd

With my 38 they approached me at a show and asked what I had it insured for

I told them, they suggested we lift it because I’d tidied it up a lot and the market had improved

I thought here we go a 5k lift in value will be a 50% increase in premium, but it was almost no increase (under $20)

roddy1960 · 23-02-2019, 10:28 AM

My agreed value on the XR6 was $11,500 so I decided to ask about making it $14,000 .. The additional cost was about $30 for the year . A no brainer .

I also have the old AU Futura insured for $4500 and Third Party on my Honda Accord from 1985 . All up it costs me $121 per month with Roadside Assist and a limited towing insurance I believe . That's with RACT ..

I'm not too unhappy with that .

I've been an RACT member and insurer policy holder for as long as I remember but I'd consider Shannons as an option , maybe .

**FTE217** · 23-02-2019, 12:48 PM

Quote:

Originally Posted by The Yeti

That’s odd

With my 38 they approached me at a show and asked what I had it insured for

I told them, they suggested we lift it because I’d tidied it up a lot and the market had improved

I thought here we go a 5k lift in value will be a 50% increase in premium, but it was almost no increase (under $20)

There will always be "odd" regards companies.
That how it goes as you know.
Some get a good result some don't.

nstg8a · 23-02-2019, 12:58 PM

Shannon’s wouldn’t insure my Au for more than 4K.
I’ve never been able to understand how some get somewhat ridiculous valuations agreed to yet others don’t.

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boss351290 · 23-02-2019, 01:15 PM

Ts40. Nice. My Ts50 has a 5.6 litre engine. So it doesn’t make sense really

superfly · 23-02-2019, 02:53 PM

I've been with Shannons for about 15 years. We had 2 WRX's and the house insured with them (I've since sold my WRX).
My WRX was extensively modified and there was no issues with the one claim I made on it - I drowned the engine during a rain storm, it got a faulty headgasket.
My wife's WRX got run into a couple of times, no issues with claims.
And my house was broken into twice and no issues with claims there either.

My Ford is with RACQ as they are about $450 and Shannons wanted $900. For the house they are more expensive and I've been looking at moving to RACQ. But the WRX will stay with Shannons. It's expensive but the car is mildly modified.

nstg8a · 23-02-2019, 03:00 PM

Quote:

Originally Posted by boss351290

Ts40. Nice. My Ts50 has a 5.6 litre engine. So it doesn’t make sense really

I guess ts56 doesn’t have the same ring to it. I’ve never actually thought about them still calling them a ts/te 50 despite not being a 5.0 in the t3s

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Whitey-AMG · 15-05-2019, 11:35 AM

Has anyone had dealings with or have their car insured with ENTHUSIAST MOTOR INSURANCE. They are underwritten by Assetinsure.

https://enthusiast.com.au/

They are very competitive , but just doing my due diligence and would like to hear from anyone on here about their experience ( if any.... )

ebv8 · 15-05-2019, 01:01 PM

shannons kept dropping the value of my BA GT, they think a 1of1 colour, low build number and stored mean its worth $5k or something, i went to enthusiast insurance and for $50 less p.a. they insured it for quite alot more
i'm with shannons for everything else, had a few claims they have been fine to deal with

p.s. they have insured my granny spec AU for $5k without any issues

just be honest on the phone they may hold it against you later on

Whitey-AMG · 15-05-2019, 01:36 PM

Quote:

Originally Posted by ebv8

shannons kept dropping the value of my BA GT, they think a 1of1 colour, low build number and stored mean its worth $5k or something, i went to enthusiast insurance and for $50 less p.a. they insured it for quite alot more
i'm with shannons for everything else, had a few claims they have been fine to deal with

p.s. they have insured my granny spec AU for $5k without any issues

just be honest on the phone they may hold it against you later on

OK - sounds like they are legit..
Had never heard of them so just putting it out there for any forum member reviews to check. I filled out the application on line for a quote and requested a substantially higher agreed value than what their automated system spat out - they reviewed my request and pictures of car and accepted - so I'm now just thinking on whether to pull the trigger and ditch Shannons.
Enthusiast are offering a better agreed valuation and @ 30% less premium.

ebv8 · 15-05-2019, 02:02 PM

I have heard enthusiasts insurance started when shannons sold out as such.
There was a time a few years ago when shannons call centre was just suncorp and knew nothing about cars, I had an insurance claim from hail and the lady said surely a $2500 repair quote would write off my BA GT and she was surprised it was insured for $18k, after that they dropped it to $16k and then $15k while the premium went up

shannons are back to their old selves these days, I cancelled my FG's insurance today as i sold it and the guy was commenting how I upgraded from an FG to AU and how he loved his TS50 and should never have sold it.

**FTE217** · 15-05-2019, 02:08 PM

Enthusiast looks ok.
Looking like they are similar when i was not happy with Shannons dropping market value too much on my T3 some years ago 3yrs in a row.
Granted after calls it was reviewed but I thought stuff this game.
Came across Ryno who was just getting into the market, haven't looked back since and even better the Sprint incl back in 2016.
Very good value having 2 cars with them.
Good luck.
Ryno
Never heard of Ryno? That’s probably good, because we remain small enough to be genuine and passionate specialists in cars, bikes and trucks, yet we’re also big enough where it counts, with backing by the biggest and best of them all – Lloyds of London!

GT450 · 15-05-2019, 02:31 PM

Hi FTE217, i use Ryno too, it's easy and they're up front when you question them, and Russell is easy to talk to. I tried the online quote for Enthusiast insurance and it wouldn't accept my vehicle, go figure. So Ryno it will stay.
GT450

GT450 · 15-05-2019, 02:46 PM

I just tired calling them and what a wan**r on the other end of the line, he sounded like he was doing it out of his backyard and tells me i'd be lucky to do 1500 to 2000kms ayear in a Ford then tells me he has the first HSV*** in his garage. A tip to all don't wast your time stay with reputable insurers they may cost more but at least you know what you're getting.
GT450

Whitey-AMG · 15-05-2019, 02:58 PM

Quote:

Originally Posted by GT450

I just tired calling them and what a wan**r on the other end of the line, he sounded like he was doing it out of his backyard and tells me i'd be lucky to do 1500 to 2000kms ayear in a Ford then tells me he has the first HSV*** in his garage. A tip to all don't wast your time stay with reputable insurers they may cost more but at least you know what you're getting.
GT450

LOL - I'll be using the "enthusiast" quote to keep Shannon's honest and see if they will match or come close to it. There was a big difference.

**FTE217** · 15-05-2019, 03:05 PM

Quote:

Originally Posted by GT450

Hi FTE217, i use Ryno too, it's easy and they're up front when you question them, and Russell is easy to talk to. I tried the online quote for Enthusiast insurance and it wouldn't accept my vehicle, go figure. So Ryno it will stay.
GT450

Spot on sir, Russell good operator and service.

ebv8 · 15-05-2019, 04:17 PM

all this insurance talk made me just read my PDS's
i'm happy with what they say but i have read horror stories online for mainly shannons
not offering agreed value and not agreeing to the cost of repairs
i think they are special cases where its obvious people are taking the ****

i'm happy shannons are not going to rip me and happy enthusiasts are under written by a large company, plus i have salvage rights on my GT and its still cheaper than shannons
shannons is cheap for my other cars and bikes

the only complaint i could find about enthusiasts was the rudeness of the guy on the phone but i did everything online through email

HI PSI · 15-05-2019, 04:47 PM

I am currently amending the agreed value on my BA II Xr6 turbo, from $30k to $75k. They have requested photo's of the car and so far haven't battered an eyelid. From memory the premium increases by around $300 a year.

GT450 · 16-05-2019, 08:12 AM

the only complaint i could find about enthusiasts was the rudeness of the guy on the phone but i did everything online through email
__________________
Ditto.