Insurance renewal on my VX SS?

[Drewie]

I have the SS with Shannons at the moment, just got my renewal in and they offer agreed value of $10,000 (I have had my 2001 VX SS from new, completely original and 92,000km on the clock) the premium is $881 a year or $440 six monthly, includes windscreen and glass cover in that price.

I decided to do some online quotes with other companies, RACV, AAMI and a few others,
the few that will do an agreed value have the VX SS as a maximum agreed value of $5720,
but the premiums are RACV $760, AAMI $558, Budget Direct were $466 but market value.
Trying to decide whether to go the high premium high agreed value of Shannons or go one of the cheaper premiums and suck up the low agreed value, just curious what others pay or think which would be the better option.

 

[Deuce]

I found a company that insurances 20+ y/o weekend only vehicles for a good price, i state the value of it (and its quite a bit higher than yours) and only 200 for full cover - first right of buy back in an extreme incident as well.
They just ask the kms aren't excessive each year and try not to commute in it (once a week is ok).
Sounds like it would suit you (in a few years) if an aussie offered similar

 

[EYY]

Call Racv and apply to have your agreed value adjusted to above their recorded market value. It’s not a difficult process. In my case it was just a matter of sending an email and then a follow up confirmation call.

See if Racv consider your vx to be a classic car. I know that even vt executives are considered classic by their book. I’d be surprised if your premium would be in excess of $100pa if your car fits into their classic bracket at 10k agreed value. Couple of things though: car must only be used for recreational purposes (limited use) and must be garaged. You get salvage rights too along with complementary road side assist.

 

[afstruct]

My v2 monaro is insured with shannons along with the vs maloo and the house.
Both monaro and maloo are are classed as extremely modified and insured on agreed value , monaro is $670 for $34000 extreme limited use, eg :- about once a fortnight and maloo is $770 for $9800 as a daily.
I have had various vehicles insured with them since late 80s
So I'm a little surprised at the cost of yours , try asking them for a better deal .
Mine also has windscreen and glass coverage .

 

[Wozza]

You should factor in basic excess and what it would cost to replace the car if stolen..
These days due to the high cost or repairs anything bar a very light bingle will make your pride and joy a economical write off....also any mods from factory may make some insurance comp nervous. I've found shannons are fine with most mods so long as they are notified..as above give shannons a ring and see if they can do a better deal..better the devil you know

 

[JoshlikesCalais]

My VE is with SGIC because they were the only reasonable one for my age (22) $900 with $26k agreed value.
Allianz wanted $2000 LOL that's how much they think their customer service is worth.
RAA wouldn't go near me and all the other were around $1100
Being a young person really sucks

 

[Sean880]

I have the SS with Shannons at the moment, just got my renewal in and they offer agreed value of $10,000 (I have had my 2001 VX SS from new, completely original and 92,000km on the clock) the premium is $881 a year or $440 six monthly, includes windscreen and glass cover in that price.

1. Stay away from budget insurance companies because when you make a claim is when you suffer the pain.

2. There are a couple of ways you can reduce the premium with shannons you should get a quote on.

a. Drop the agreed value to $8000 or so which is still much better than the others offer.
b. You save on premium when you take a voluntary excess above the mandatory excess which I assume in Shannon's case is $500-600 for each claim. If you offer to take an additional voluntary excess of say $1000 they will reduce your premium. Remember when you comprehensively insure you are not just covering your own car but also any damage to the property of third parties where you are responsible (which could run into a great deal of cash).

 

[Drewie]

Thanks guys, I will give Shannons a ring and see if they can do a bit better on the premium.

 

[MYVESSV8]

Modified VE SS and VU 15th Anniversary Maloo. limited use on both agreed value on both (16k ea approx) about $900 a year glass inc etc with Shannons

 

[Drewie]

My v2 monaro is insured with shannons along with the vs maloo and the house.
Both monaro and maloo are are classed as extremely modified and insured on agreed value , monaro is $670 for $34000 extreme limited use, eg :- about once a fortnight and maloo is $770 for $9800 as a daily.
I have had various vehicles insured with them since late 80s
So I'm a little surprised at the cost of yours , try asking them for a better deal .
Mine also has windscreen and glass coverage .

Gave Shannons a call and had a chat, they knocked $102,83 off the renewal notice, now $758.13 for the same $10,000 agreed value, includes glass cover. They suggested the limited use policy which might have saved a bit more, was tempted but the SS is my only car and even though I have retired the one or two times a week use was a bit iffy, some weeks I don't use it but other weeks it can be used four or five times, so I stuck with the regular policy. Thanks for the suggestion to give them a call.