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GC9911

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I've been with shannons for almost 10 years.  I called them up recently to advise that my 993 has been fitted with a new set of wheels.  I told them the price of the wheels and they increased my premium by about $85.  Fair enough.  The car is now "worth" a few grand more and it's "a bigger risk".   (Air quotes used liberally)

 

They sent me the policy in the mail and they've dropped value of the car by $3000.  WTF?  

Logical and sensible insurance companies are rarer than unobtainium.

When revisiting my policy a couple of years ago I found Shannons to be quite reasonable in the valuation of the 993, however they were very expensive compared to MB Insurance who I have been with for a few years.

Renewal is due in a month, so I called them yesterday to prompt them regarding the increased value of the 993. Let's see what they come back with.

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I just changed companies to Famous and found them very helpful if slightly disorganized.

alll ended well with the 993 insured for $45 k more than before ( well behind till now) with annual windscreen , choice of repairer etc. all for slightly less money

no brainer for me

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NRMA Classic 55% less $ than Shannons but the policy is restrictive. Can't park at shopping centres or ever take to work unless daily driver is unserviceable. More to pay by the month.

Famous 24% less. Unrestricted (common sense) limited use.

Ryno: the car isn't old enough. 

Lumley 29% less.  3 days per week but $50 more for glass coverage and $40 for NCB protection. More to pay by the month  

MB insurance 37% less. 8000km a year usage. 

 

Most of these quotes are for a larger agreed value than Shannons too. 

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Prices is one thing but has anyone made a claim through their insurance company with a good or bad outcome? How does the price of policy stack up against the ease of dealing with them and them handing over $$$$ ??

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Just reorganized my car insurance. Ended up changing all cars to Shannons as well as the car trailer. They were open to negotiation and the deal for the Turbo was about the same as Porsche Insurance with a better agreed price. The Cayman (MB) on the otherhand was much cheaper. Famous also put in a very good showing and I was tempted by the CAMS L2S $10K   Cover at $103/event.

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  • 2 weeks later...

So, just went to renew my full comp on my 2001 996 C2 with NRMA. Wasted some time being transfered to their classic dept, only to learn of their overly restrictive usage policy. Anyway, back at the standard comp department, apparently the max they will insure it for has dropped from 51k to 41k in 12 months. Hence why i searched out this thread......

 

Thanks for the tips.

Has anyone made a claim with Famous?

 

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So, just went to renew my full comp on my 2001 996 C2 with NRMA. Wasted some time being transfered to their classic dept, only to learn of their overly restrictive usage policy. Anyway, back at the standard comp department, apparently the max they will insure it for has dropped from 51k to 41k in 12 months. Hence why i searched out this thread......

 

Thanks for the tips.

Has anyone made a claim with Famous?

 

I would not be too disheartened about your on paper capital loss, its just another view.  If its any consolation, 996's in general must on the nose in some circles as the going replacement cost for a 996tt lands just shy of 70k based on some asking of current views of whats it worth.  I didn't get a response to a shout out for claims experience with Famous, prior to sending them some cash last week.  But daylight between them and the rest in terms of premium on a standalone basis , let alone when you bring into the equation of whats it worth to replace which gravitates and is more aligned towards my own view.   Eg  Premium savings could fund circa 1.5 PFA track days events (assuming of course you carve out those kilometres travelled on the track as being self insured, but noted as previously mentioned in this thread, their was an optional extra for track day usage in the policy that could possibly be looked at with a view to being endorsed down the track). 

Lets hope I don't need to make a claim, particularly one associated with whats it worth.  I did note in the fine print, appeared to be pretty strict policy/ disclosure  terms  with who would / could drive the car that made me think perhaps I need to curb my enthusiasm when throwing the keys around going forward.

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I have my own panel shop. I have repaired numerous cars that have been insured with famous insurance. There were no issues with the assessors authorising the vehicles to be repaired correctly. Wish I could say the same with a lot of the other substandard insurance companies.

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I would not be too disheartened about your on paper capital loss, its just another view.  If its any consolation, 996's in general must on the nose in some circles as the going replacement cost for a 996tt lands just shy of 70k based on some asking of current views of whats it worth.  I didn't get a response to a shout out for claims experience with Famous, prior to sending them some cash last week.  But daylight between them and the rest in terms of premium on a standalone basis , let alone when you bring into the equation of whats it worth to replace which gravitates and is more aligned towards my own view.   Eg  Premium savings could fund circa 1.5 PFA track days events (assuming of course you carve out those kilometres travelled on the track as being self insured, but noted as previously mentioned in this thread, their was an optional extra for track day usage in the policy that could possibly be looked at with a view to being endorsed down the track). 

Lets hope I don't need to make a claim, particularly one associated with whats it worth.  I did note in the fine print, appeared to be pretty strict policy/ disclosure  terms  with who would / could drive the car that made me think perhaps I need to curb my enthusiasm when throwing the keys around going forward.

perhaps our era of car has moved into the auspice of specialist insurers now.

being an avid follower of the market, I know that I could not replace my car for 41k.

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perhaps our era of car has moved into the auspice of specialist insurers now.

being an avid follower of the market, I know that I could not replace my car for 41k.

No brainer to absorb the relatively small incremental premium amount to go agreed market vs current market via Famous, not withstanding current insurer flatly refused to give a quote on the agreed value I asked for.

I have my own panel shop. I have repaired numerous cars that have been insured with famous insurance. There were no issues with the assessors authorising the vehicles to be repaired correctly. Wish I could say the same with a lot of the other substandard insurance companies.

Appreciate the response and that's some good news

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For my $125k (agreed insurance value) 997.2 Carrera S Cabriolet, Budget Direct quoted around $3k per year. NRMA and QBE both quoted around $1.8k with a $2k excess. This covers all drivers. If you limit the QBE policy to just named drivers it comes down slightly to around $1.7k per year. 

Forget RACQ, Coles, Progressive, Iselect, and Compare The Market, they all would not insure my 911. 

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NRMA 55% less $ than Shannons but the policy is restrictive. Can't park at shopping centres or ever take to work unless daily driver is unserviceable. More to pay by the month.

Famous 24% less. Unrestricted (common sense) limited use.

Ryno: the car isn't old enough. 

Lumley 29% less.  3 days per week but $50 more for glass coverage and $40 for NCB protection. More to pay by the month  

MB insurance 37% less. 8000km a year usage. 

 

Most of these quotes are for a larger agreed value than Shannons too. 

Not to dispute what NRMA told you, but I brought this up with them on the phone today. They offered a standard comprehensive insurance policy for my 997.2 and specifically said that there was no restriction on using shopping centre carparks etc., and accidents there would be covered. I haven't read it all, but there is no mention of "shopping (centres)", or of "car parks" in their attached comprehensive insurance policy that they sent me (I searched for these terms). 

NRMA and QBE were the cheapest of the insurance companies I contacted. I will go with NRMA as they have been easy to deal with in the past. 

 

NRMA_MOTOR_PDS_G018066_12-16_2.PDF

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Sorry - You're right.  My quote was from NRMA Classic.  I'll update my post.  They've got a different PDS and were very explicit on the phone about the restrictions.

I'm with nrma classic. I knew about not taking it to do groceries and parking in a car park. Wonder if we can take it to country small town cafes and use their car parks though. Anyone know? I don't trust insurance companies.. they'll weasle their way out of anything.

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Spoke with Famous today and have a quote for $1579 which is considerably better than my current policy which is $2300.

04 / C2 / Manual / Agreed value - $55k...maybe a bit low but it was my suggestion. $750 excess.

Will read all the terms and conditions tonight but appears to be spot on.

Jim.

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Just insured my new (used) Cayman with Famous. The guy on the phone was really friendly and was a simple process. Got quotes from lots of insurers, and they were the only ones that had a reasonable price without having a stupidly low agreed value or large restrictions. 

The one that surprised me the most was Shannon's, they were more than double the price!

 

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  • 2 weeks later...

NRMA Classic 55% less $ than Shannons but the policy is restrictive. Can't park at shopping centres or ever take to work unless daily driver is unserviceable. More to pay by the month.

Famous 24% less. Unrestricted (common sense) limited use.

Ryno: the car isn't old enough. 

Lumley 29% less.  3 days per week but $50 more for glass coverage and $40 for NCB protection. More to pay by the month  

MB insurance 37% less. 8000km a year usage. 

 

Most of these quotes are for a larger agreed value than Shannons too. 

Ok!  Conclusion! 

I phoned up shannons today and asked them why my agreed value dropped with the addition of the wheels.  He checked my file and apologised.  He increased my agreed value back to where it should have been and then dropped my premium a few bucks to apologise.

I was pretty happy with the way they handled my concern.  

I then mentioned that I'd phoned around and got some other insurance quotes as part of my rego renewal.  I gave them the numbers.  He chatted to a manager for a few moments and came back with a 21% discount and an increase in the agreed value of another $13k.  Almost as cheap as famous.  I've had no complaints with shannons, so I accepted their offer.  

Additionally, he said he had a purple 993 diecast on his desk so that gets another thumbs up too :)

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I called RACV ViIntage and Shannons for a theoretical 3.2 valued at $110k.  RACV was $631 and Shannons was $2283!!    RACV also provided 12 free calls for any breakdowns or towing etc.

racv. Do they still use their cookie making 24 hour paint and panel shops ? I had a daily repaired at those franchise places (capitol i think they were called) and the job was shocking. Blend lines so bad even i can see it. Paint aftdr 2 years has gone frosty. My car was halfway through a rear panel beibg painted when a shift change took place. Giy A did the bottom layer, guy B did the top layer.

When i collected car, they had 12 cars sitting in their collection area, all with keys in the ignition, next to a 4 lane road, and just pointed from inside reception saying "can you see yours ? Go on, ita closing time, take it now."   I took my car......

 

But we had to use their repair centre.

 

About to try their lifetime warranty story.

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racv. Do they still use their cookie making 24 hour paint and panel shops ? I had a daily repaired at those franchise places (capitol i think they were called) and the job was shocking. Blend lines so bad even i can see it. Paint aftdr 2 years has gone frosty. My car was halfway through a rear panel beibg painted when a shift change took place. Giy A did the bottom layer, guy B did the top layer.

When i collected car, they had 12 cars sitting in their collection area, all with keys in the ignition, next to a 4 lane road, and just pointed from inside reception saying "can you see yours ? Go on, ita closing time, take it now."   I took my car......

 

But we had to use their repair centre.

 

About to try their lifetime warranty story.

You don't have to use their sausage shops. Racv have choice of repairer in PDS. When the policy owner rings up to lodge a claim they scare the f**k out of them if they take it to their own repairer by saying we will not give you a warranty and so forth which is not true.

The lifetime warranty works. I have done a heap of rectifications in my shop from their dodgey sausage shops repairs. The thing is once another shop has carried out an amount of work it usually becomes a bigger process to bring it back to a quality repair.

The way I look at repairing cars is that they need to be brought back to pre-accident condition or better!

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