Insurance - 2003 996 Turbo

[Skafhold911]

Hi All,

Hoping for some assistance to find a suitable insurer for my recently acquired 996.

I tried to get cover through Shannons, but they have told me that due to my driver history, they will not cover me. There is 8 traffic offences over 5 years, all are low range speeding, and one traffic light. I wouldn't have thought that it would disqualify me from getting insurance with them?

MB insurance I have struggled to get them to increase their agreed value without a valuation. I will provide a valuation, and looks like they will want $3500. They haven't asked for my driving record yet, so hopefully not the same result as above.

Does anyone have any recommendations on who else to enquire with?

I will highlight that I am 31 years of age, so perhaps a bit young in the insurers eyes. The car is used couple times a month, so very low use.

 

Thanks!

[Dreamr]

Not having a go, but here goes ..

So .. 31 years old, 7 speeding fines + 1 and now a 996 Turbo. In their eyes, you are a risky bet.

Your age is a big factor with this type of car, and your driving history tells them that potentially, they're staring down the barrel of a $150k accident payout for the premium of, say $3k

Some insurers will not take on the "risk" whe others will charge a hefty premium for past indiscretions.

I guess this is part of the incentive not to speed.

BTW .. no judgement here. I'm sure most of us have something or another.

[Skafhold911]

2 hours ago, Dreamr said:

Not having a go, but here goes ..

So .. 31 years old, 7 speeding fines + 1 and now a 996 Turbo. In their eyes, you are a risky bet.

Your age is a big factor with this type of car, and your driving history tells them that potentially, they're staring down the barrel of a $150k accident payout for the premium of, say $3k

Some insurers will not take on the "risk" whe others will charge a hefty premium for past indiscretions.

I guess this is part of the incentive not to speed.

BTW .. no judgement here. I'm sure most of us have something or another.

Sure, I see their side too.

I figured the premium of $3500~ they were offering was enough to offset a bunch of speed fines (all of which are considered low range speed fines). 

Anyway, I understand I may be in the too hard basket for them, but I still need to find an insurer

So any recommendations? 

[Damienb]

There is a thread here somewhere about 'current insurance landscape' that has been running for a while.  All the likely insurers are mentioned.

[Fishcop]

You may need to consider using an insurance broker.  You are going to get bent over, but you should still be insurable.

[Yeatesy]

Interesting to see this discussion as I’m considering purchasing a 996 Turbo and was planning on calling Shannon’s in the morning for a quote. I’ve found their premiums to be reasonably priced previously even though I’ve had a few 🤥 speeding fines over the last 29 years. 

[smit2100]

9 hours ago, Skafhold911 said:

Hi All,

Hoping for some assistance to find a suitable insurer for my recently acquired 996.

I tried to get cover through Shannons, but they have told me that due to my driver history, they will not cover me. There is 8 traffic offences over 5 years, all are low range speeding, and one traffic light. I wouldn't have thought that it would disqualify me from getting insurance with them?

MB insurance I have struggled to get them to increase their agreed value without a valuation. I will provide a valuation, and looks like they will want $3500. They haven't asked for my driving record yet, so hopefully not the same result as above.

Does anyone have any recommendations on who else to enquire with?

I will highlight that I am 31 years of age, so perhaps a bit young in the insurers eyes. The car is used couple times a month, so very low use.

 

Thanks!

So just so your think your being hard done by, lets compare.   I've had my license for about 18 years longer than you,  haven't claimed on an insurance policy,   max no claim bonus,  two low range tickets in 5 years and no demerit point losses on those, have a 2003 996 turbo a couple of mods, even lower use than you and you reckon your hard done by for a quote at 3500.  hmmmm.   PS MB was the cheapest for me by a long shot based on my needs (wanted lowest premium relative to insurers market values and they are way way short of current COVID market values and I rang all the usual suspects and got online quotes as well where I could.  When I asked for agreed at what I reckon its worth which is was about half of what their market value is and current COVID asking) they don't appear to discriminate.    Eg MB were up in the $3000 plus and others were eye watering more.  Just a view, but with your risk profile if you are offered 3500 at anything above their market value, reckon you should saying where do I sign so you are insured and then perhaps seek out a broker to see if he can get you a better deal post at least having been covered.  Yes you will see others with eye watering much better premiums vs sum insured posted and they say your paying above the odds.  I call BS.   Different model cars and different circumstances and risk profile and even have been insured with a name thrown around and ask to add my 996 and they said, the underwriter wont underwrite any porsches currently.

If you do indeed find new customer coverage at circa $120,000 plus and its much better than $3500,  please share.  PS I have a older m3 and insured value is about 40% of the 996 turbo and the premium is about 30% more.  If anyone thinks I didn't shop around I beg to differ.  Also note if your getting an online quote, based on experience, I reckon the algo's give you the best price on the first time you ask for a price. 

[jakroo]

7 hours ago, smit2100 said:

So just so your think your being hard done by, lets compare.   I've had my license for about .......... about 40% of the 996 turbo and the premium is about 30% more.  ...........If anyone thinks I didn't shop around I beg to differ.  Also note if your getting an online quote, based on experience, I reckon the algo's give you the best price on the first time you ask for a price. 

You're new here and smit2100 can be a little hard to translate at times, so here's the abridged version..... his message is this: take the current offer so you're insured. Then go and get a broker to see if they can find you a better deal.

[Skafhold911]

15 hours ago, smit2100 said:

So just so your think your being hard done by, lets compare.   I've had my license for about 18 years longer than you,  haven't claimed on an insurance policy,   max no claim bonus,  two low range tickets in 5 years and no demerit point losses on those, have a 2003 996 turbo a couple of mods, even lower use than you and you reckon your hard done by for a quote at 3500.  hmmmm.   PS MB was the cheapest for me by a long shot based on my needs (wanted lowest premium relative to insurers market values and they are way way short of current COVID market values and I rang all the usual suspects and got online quotes as well where I could.  When I asked for agreed at what I reckon its worth which is was about half of what their market value is and current COVID asking) they don't appear to discriminate.    Eg MB were up in the $3000 plus and others were eye watering more.  Just a view, but with your risk profile if you are offered 3500 at anything above their market value, reckon you should saying where do I sign so you are insured and then perhaps seek out a broker to see if he can get you a better deal post at least having been covered.  Yes you will see others with eye watering much better premiums vs sum insured posted and they say your paying above the odds.  I call BS.   Different model cars and different circumstances and risk profile and even have been insured with a name thrown around and ask to add my 996 and they said, the underwriter wont underwrite any porsches currently.

If you do indeed find new customer coverage at circa $120,000 plus and its much better than $3500,  please share.  PS I have a older m3 and insured value is about 40% of the 996 turbo and the premium is about 30% more.  If anyone thinks I didn't shop around I beg to differ.  Also note if your getting an online quote, based on experience, I reckon the algo's give you the best price on the first time you ask for a price. 

For those interested, managed to get cover!

MB Insurance

Agreed value = Purchase price

$3000~ Premium

I shopped around a few other places, and it was the best deal

[edgy]

9 hours ago, jakroo said:

You're new here and smit2100 can be a little hard to translate at times, so here's the abridged version..... his message is this: take the current offer so you're insured. Then go and get a broker to see if they can find you a better deal.

 

If you add @michel to your repertoire of PFA dialect translations, your services would command premium. 

[smit2100]

On 22/10/2021 at 04:20, jakroo said:

You're new here and smit2100 can be a little hard to translate at times, so here's the abridged version..... his message is this: take the current offer so you're insured. Then go and get a broker to see if they can find you a better deal.

Not a bad translation, but  NQR.   The obvious and logical  abridged reading between the lines  version of my post in short form would have been,  "FFS with that risk profile you haven't already  locked in that circa 3k quote. WTF."  But that lacks subtleness, context and analysis and reminds me of the extremely harsh  but comical (knowing what I knew and elected not to disclose) abusive posts I received on here when I first joined.    

@Skafhold911  trust this post may leave you with somewhat of a grin given you are now insured.

[jakroo]

12 hours ago, smit2100 said:

....But that lacks subtleness, context and analysis and ......

 

and that is why I chose to use the moderate, PG13 translation kit 🙂

 

[michel]

On 22/10/2021 at 16:29, edgy said:

 

If you add @michel to your repertoire of PFA dialect translations, your services would command premium. 

Funny fukka u r .😘