shannons insurance

[F1Aussie]

I am with WFI insurance and they had my car valued through redbook at 12,700. I checked selling prices for my model, year and K's and most were between 14 - 18,990. They Said they could do agreed value for 16,500 so I went with that.

 

[losh1971]

Just had mine revalued today and a new agreed price applied. I asked for $28k but was told that the average price for a VE ute with 200k is about $21k. I told the rep most of my mods, including headers, Magnaflow, leather interior and HSV Monaro rims and he was able to meet me half way at $25k. Without my list of mods I would have been looking at $21k - $22k. Suggests to me that people who think their SS VE's are worth $35k + might be dreaming....

 

[someguy360]

Suggests to me that people who think their SS VE's are worth $35k + might be dreaming....

The market is definately starting to cool off with the economy changes and the covid tax dying down.

I insured the ute in the height of covid tax with shannons and the guy spent a good 30-35 mins looking on car sales/marketplace at what Thunders were going for as it was a hard car to put a value on with such small numbers.

Ended up with 25k agreed value at the time which for an SV6 ute was pretty good, most online with more km's were low to mid 20's. But now they are all around the 18-20k mark and I'm not seeing them sell. If I went to reinsure it now I'd not crack the 20k mark I'd say.

Same with the 2nd gens. People were wanting 60-70k for VS Clubsports and 45k for VS SS's now the list prices have dropped right back and they still aren't selling.

 

[losh1971]

The market is definately starting to cool off with the economy changes and the covid tax dying down.

I insured the ute in the height of covid tax with shannons and the guy spent a good 30-35 mins looking on car sales/marketplace at what Thunders were going for as it was a hard car to put a value on with such small numbers.

Ended up with 25k agreed value at the time which for an SV6 ute was pretty good, most online with more km's were low to mid 20's. But now they are all around the 18-20k mark and I'm not seeing them sell. If I went to reinsure it now I'd not crack the 20k mark I'd say.

Same with the 2nd gens. People were wanting 60-70k for VS Clubsports and 45k for VS SS's now the list prices have dropped right back and they still aren't selling.

Makes it a bit scary considering the amount we spend on these buses. I will be at around $35k or more including purchase price once my new diff is paid for this week. I probably have another $5k to spend after that to get the last few things I want done, done.

 

[Fu Manchu]

Makes it a bit scary considering the amount we spend on these buses. I will be at around $35k or more including purchase price once my new diff is paid for this week. I probably have another $5k to spend after that to get the last few things I want done, done.

But none of us can go buy one new, so it’s worth while to have a car we love.

 

[losh1971]

Absolutely, just a shame we can no longer insure them for what they are worth to us. 12 months ago I'd say I would have got my $28k agreed. If prices are falling I'm not sure what that means for us enthusiasts. Will the price of SH spares come back down to where they should be, or we going to be stung $800 for a plastic trim forever?

 

[Skylarking]

Holden spare parts will remain in limited supply and prices will continue to rise until some 3rd party makes quality (or inferior) copies.

And our car prices will continue to drop, for the most part, yet insurance rates will go up because of increased repair costs, floods, fires and such. Insurance companies will remain clinical because they don’t love cars like we love cars.

The value we hold in our cars won’t be recognised except in a few rare situations. Regardless we’ll continue to maintain them because we love them.… love is blind…

 

[keith reed]

I have my vh insured with Shannon. $300 a year and valued at $50,000. The car is on club rego so doesn't get used all that much. All of the modifications are listed. Most companies don't want to know you if you have any modifications . They arrived at the valuation by looking up sales of vh's at auction. There was only one and it sold for $48,000, they figured mine would be worth a bit more. The insurance is due next month so it will be interesting to see if there is any change to either the premium or value.

 

[vc commodore]

I have my vh insured with Shannon. $300 a year and valued at $50,000. The car is on club rego so doesn't get used all that much. All of the modifications are listed. Most companies don't want to know you if you have any modifications . They arrived at the valuation by looking up sales of vh's at auction. There was only one and it sold for $48,000, they figured mine would be worth a bit more. The insurance is due next month so it will be interesting to see if there is any change to either the premium or value.

Keep us posted with this please...I am sure plenty would love to know any variations with valuations...

 

[keith reed]

Keep us posted with this please...I am sure plenty would love to know any variations with valuations...

Certainly will, I am just as interested myself.