Weird insurance business

[Ron Burgundy]

Just paid it all this morning

NRMA - covered for $39 250

$1550 all up..

 

[EternityDre]

It's been a while since I heard someone say the got a competitive quote from Shannons, what's going on over there?

Year 2 of my MSE insurance Shannons lowered the value but upped the price in a big way so I went to Lumley and saved $750. Lumley kept my price the same in year 3 ($1520) at $70k agreed value (down from $80k in year 2). Keep in mind I have a 385kw upgrade and expensive ceramic coating.

Based on what I'm seeing here I'm not looking forward to my renewal next year.

 

[mpower]

It's been a while since I heard someone say the got a competitive quote from Shannons, what's going on over there?

Shannons tend to be cheapest for me, but then a lot of insurers won't even touch HSV, etc.

 

[Forg]

It's been a while since I heard someone say the got a competitive quote from Shannons, what's going on over there?

Shannons are always the cheapest for me too, and having had two trouble-free claims in recent years I'm happy to stick with them as opposed to the unknown of switching to another.

However, I think they may be losing competitors in the non-standard-car-insurance market, at least for insurers that will actually pay out. Mobs like Just Car Insurance have disappeared, whoever owned Enthusiast obviously decided it wasn't worth keeping.

 

[mpower]

main draws for me are choice of repairer and well not double the price for the convenience. too many people though just look at how much the insurance costs and don't look any further - then claim time comes! That said, my premiums have been just fine with Shannons.

 

[struggo]

Just paid it all this morning

NRMA - covered for $39 250

$1550 all up..

Here is my latest from NRMA for my MY16 SSV Redline Sedan.

Inc: 55% No Claim Bonus + 17.5% Loyalty Discount + Choice of repairer

• Last year's agreed value $45,000
• This year's agreed value $31,850
• Basic Excess $850
• Last year's premium $1,782.99
• This year's premium $1,577.95

If I manually adjust it to $39 250, my premium is $1,789.94.

 

[[paradox]]

Shannons, what's going on over there?

famous was born from a split in the directors at shannons

whoever owned Enthusiast obviously decided it wasn't worth keeping.

enthusiast has been underwritten by the same company for at least the last 10 years? but they haven't been overly profitable.

 

[Forg]

Here is my latest from NRMA for my MY16 SSV Redline Sedan.

Inc: 55% No Claim Bonus + 17.5% Loyalty Discount + Choice of repairer

• Last year's agreed value $45,000
• This year's agreed value $31,850
• Basic Excess $850
• Last year's premium $1,782.99
• This year's premium $1,577.95

If I manually adjust it to $39 250, my premium is $1,789.94.

I'd tell them where to explete that quote.
Just look on CarSales, the cheapest is $38k, is only silver, and has 150k kms on it.

enthusiast has been underwritten by the same company for at least the last 10 years? but they haven't been overly profitable.

I must have the wrong one - maybe it was Famous?
The one I could've sworn was Enthusiast is one of the ones you'd heard of but never gives you a decent agreed-value when you call them; and about 6 months ago they started not renewing policies on anything vaguely unusual due to being in the process of being sold.

 

[Ron Burgundy]

Here is my latest from NRMA for my MY16 SSV Redline Sedan.

Inc: 55% No Claim Bonus + 17.5% Loyalty Discount + Choice of repairer

• Last year's agreed value $45,000
• This year's agreed value $31,850
• Basic Excess $850
• Last year's premium $1,782.99
• This year's premium $1,577.95

If I manually adjust it to $39 250, my premium is $1,789.94.

So is your max allowable agreed value $39,250 or more ?

 

[[paradox]]

and about 6 months ago they started not renewing policies on anything vaguely unusual due to being in the process of being sold.

the company underwriting them changed owners from CBL to Lombards last year.
i cant comment if that would have impacted their rating or underwriting guidelines.