Tricky Posted 18November, 2022 Report Share Posted 18November, 2022 I thought I would post some details from my recent insurance research, which turned into a bit of an epic quest, in case it is of use to anyone else on PFA. For a while, I didn't think I was going to find any reasonable quotes and that I might have to ask for my deposit back... The car: 2019 Porsche 992 Carrera S MY20 PDK with $72k in options. Cost $400k when new. Bought used from a dealer for $310k plus $17k stamp duty = $327k, so this was my target Agreed Value. Garaged at night and in secure undercover office parking during the day, both Brisbane. The drivers: Myself - age 50. In past 3 years: 2 lots of 1 point for low range speeding, one insurance claim for stone chipped windscreen. Rating 1 for life. Wife - age 50. In past 3 years: no points, one 'not at fault' written off car (all the insurers said this would have no impact as not at fault) Contacted direct: RACQ – won’t cover cars above $200k. Call 1800 680 045 Allianz – quoted $4,145 annual / $345 monthly, with hire car, windscreen. Refused to raise agreed value above $249,800 (not much good for a car bought for $327k). https://www.allianz.com.au/ MB Insurance (underwritten by QBE) – quoted $2,914pa or $261.91 per month. $327,000 agreed value. $1,250 excess. Unlimited km. Hire car. Choice of repairer. http://www.mbinsurance.com.au/ or speak to Gemma Fallows on 07 5530 2399 (who was excellent) Enthusiast – can’t cover this car for above 5,000km per year. https://www.enthusiast.com.au/ Shannons – quoted $6,612 incl hire car, excess $3,270. Choice of repairer. Windscreen protection. Agreed value $327,000. Call134646 QBE – can’t insure above $150k. https://www.qbe.com/au/portal/quote/vehicle?promotionalCode=SAVE75#/welcome Ryno – quoted $4,325 with $3,000 excess for agreed value of $327,000. https://rynoinsurance.com.au/enthusiast-car-insurance Brokers Porsche Insurance – came back recommending MB Insurance. Same premium as going direct with MB Insurance, but higher excess at $3,000. Call 1300 711911. https://www.porsche.com/australia/accessoriesandservice/porschefinancialservices/contact/porscheinsurance/ Coverforce – best quote they had was with MB Insurance (same $ as direct). See below re Dawes and One Underwriting. www.coverforce.com.au/complete Arthur J Gallagher – Recommended going with MB Insurance, couldn’t beat direct quote above. https://www.ajg.com.au/ Lewis Insurance – recommended MB Insurance, they had same price as obtained direct. www.lewisinsurance.com.au Insurers accessible via brokers only Dawes Insurance – via broker only, accessed via Coverforce. Quoted $3,995 with $3,000 excess for $327 agreed value. https://www.dawes.com.au/ One Underwriting – via broker only. Accessed via Coverforce. Didn’t get actual quote, but in line with Dawes Insurance at $3,995. https://www.oneunderwriting.com.au/Products/Motor-Solutions Pretty easy decision in the end to go with MB Insurance. My only concern being that there is little competition out there in future years... Now the agonizing wait for the car to be transported up to Brisbane Redracn, edgy, MWL and 6 others 8 1 Quote Link to comment Share on other sites More sharing options...
wirthO Posted 18November, 2022 Report Share Posted 18November, 2022 Good research. I just went through a similar journey. MB and Ryno both came up very similar for me on the GT4RS, just under $3700 agreed value of $367,000. Excess $3000. 1% of the value sounds pretty reasonable. Tricky 1 Quote Link to comment Share on other sites More sharing options...
Grimmy Posted 18November, 2022 Report Share Posted 18November, 2022 Thank you for sharing your research. Once again being annoyed at Shannons yearly automatic drop in the "agreed" value and raise in premium funnily enough recently I got a quote from MB! My quote was certainly competitive. In the next week I was intending to go deeper with other providers/brokers etc however you have most likely saved me the effort! Tricky and Arne Krix 2 Quote Link to comment Share on other sites More sharing options...
Joz Posted 18November, 2022 Report Share Posted 18November, 2022 Well done, I’ve settled with MB. Ok going back a year, different car and different values. But MB pulled through for me. Since then I’ve upped the values but still the best value. Quote Link to comment Share on other sites More sharing options...
LeeM Posted 18November, 2022 Report Share Posted 18November, 2022 2 hours ago, Grimmy said: Thank you for sharing your research. Once again being annoyed at Shannons yearly automatic drop in the "agreed" value and raise in premium That must be for later model cars, as Shannons have upped my air cooled agreed value by $10k without me knowing about it, and no increase in premium Yeatesy and Dalai 2 Quote Link to comment Share on other sites More sharing options...
sjm Posted 18November, 2022 Report Share Posted 18November, 2022 Very similar pricing for my 997S. Through QBE direct. Best quote balancing K’s and value at $110k, though my claim history and license points might’ve had an influence 😁 Quote Link to comment Share on other sites More sharing options...
KERMIT Posted 19November, 2022 Report Share Posted 19November, 2022 Have any of you looking for Insurance quotes ever contacted Lumley? Quote Link to comment Share on other sites More sharing options...
GC9911 Posted 19November, 2022 Report Share Posted 19November, 2022 Bit of feedback, my insurance is due 6/12/22, 991.2 S, Llow ks, one owner. I was with Mb in 2019, 2020, premium kept going up as the car got older??? Changed to Ryno for 2021/22. Just had 3 quotes, Ryno, Shannons, MB. MB are now $700 cheaper for exactly the same agreed value/excess, go figure, you have to shop around IMHO. Tricky and sleazius 2 Quote Link to comment Share on other sites More sharing options...
Tricky Posted 19November, 2022 Author Report Share Posted 19November, 2022 2 hours ago, KERMIT said: Have any of you looking for Insurance quotes ever contacted Lumley? I did actually, though I didn't mention it in my summary above... I called Lumley and was on hold for 30min then gave up... Maybe I should have been more patient ☺️... Quote Link to comment Share on other sites More sharing options...
Harsh Posted 19November, 2022 Report Share Posted 19November, 2022 19 hours ago, LeeM said: That must be for later model cars, as Shannons have upped my air cooled agreed value by $10k without me knowing about it, and no increase in premium Same for me ,agreed value gone up but premium remained the same (Shannons) LeeM and Yeatesy 2 Quote Link to comment Share on other sites More sharing options...
vl gra Posted 19November, 2022 Report Share Posted 19November, 2022 I have just gone through all of this with a 2014 Turbo S. Had quotes from $2135 through to $5500. Ended up going through RACV with choice of repaier and glass coverage for $2135. Most of the insurer's were in the 3-4k range. Quote Link to comment Share on other sites More sharing options...
sjm Posted 19November, 2022 Report Share Posted 19November, 2022 8 hours ago, vl gra said: I have just gone through all of this with a 2014 Turbo S. Had quotes from $2135 through to $5500. Ended up going through RACV with choice of repaier and glass coverage for $2135. Most of the insurer's were in the 3-4k range. Quick question about RACV, is they’re agreed value close to replacement cost. They can offer comparable quotes to others but agreed value way lower. Joz 1 Quote Link to comment Share on other sites More sharing options...
vl gra Posted 19November, 2022 Report Share Posted 19November, 2022 Yes agreed value lower. I went off market as it is a lot easier to get a closer amount paid out if need be. Can use independant assessor to value if push comes to shove. sjm 1 Quote Link to comment Share on other sites More sharing options...
Grimmy Posted 19November, 2022 Report Share Posted 19November, 2022 On 19/11/2022 at 00:30, LeeM said: That must be for later model cars, as Shannons have upped my air cooled agreed value by $10k without me knowing about it, and no increase in premium Ah ha thats where it went to Quote Link to comment Share on other sites More sharing options...
Dalai Posted 20November, 2022 Report Share Posted 20November, 2022 On 19/11/2022 at 00:30, LeeM said: That must be for later model cars, as Shannons have upped my air cooled agreed value by $10k without me knowing about it, and no increase in premium As you haven't been driving it, have you considered laid up insurance? A few of my cars are works in progress and laid up cover is quite a bit cheaper. Quote Link to comment Share on other sites More sharing options...
LeeM Posted 21November, 2022 Report Share Posted 21November, 2022 Yeah, that's what I've got at the moment @Dalai 👍 Dalai 1 Quote Link to comment Share on other sites More sharing options...
TwoHeadsTas Posted 22November, 2022 Report Share Posted 22November, 2022 This has been an interesting thread, as my Shannons renewal came in today. I will be doing some comparison shopping for sure - Agreed value for 996.1 C2 dropped by $1 to $69,999, 2013 Boxster by nearly $14k to 56,336 , and my daily Toerag by $10K . Premium overall marginal increase.... Quote Link to comment Share on other sites More sharing options...
GC9911 Posted 22November, 2022 Report Share Posted 22November, 2022 5 hours ago, TwoHeadsTas said: This has been an interesting thread, as my Shannons renewal came in today. I will be doing some comparison shopping for sure - Agreed value for 996.1 C2 dropped by $1 to $69,999, 2013 Boxster by nearly $14k to 56,336 , and my daily Toerag by $10K . Premium overall marginal increase.... Yes, I have struggled with some of my older cars becoming less valuable but the premiums increasing, I questioned a broker & he blamed the underwriter (always someone else’s fault). Definitely need to shop around. In my previous business we had 40+ company cars & the next year’s premium was always based on last year’s claims, I assumed (correctly) that they we’re trying to recoup the previous year’s losses. Quote Link to comment Share on other sites More sharing options...
sleazius Posted 22November, 2022 Report Share Posted 22November, 2022 <sideways glance to old cars with no insurance> GC9911 1 Quote Link to comment Share on other sites More sharing options...
edgy Posted 24November, 2022 Report Share Posted 24November, 2022 Thanks for sharing, that is certainly interesting and telling of the state of affairs with Porsche Insurance underwriters, I thought they were either trying to stick it to me or they've had a shift in risk appetite for high $$ value cars.. glad to see it wasn't just me. It definitely pays to look around, and these type of threads are invaluable in expediting your search! Cheers @Tricky enjoy the new wheels! Tricky 1 Quote Link to comment Share on other sites More sharing options...
TwoHeadsTas Posted 28November, 2022 Report Share Posted 28November, 2022 Mmmmm, looks like I'll be changing to MB Insurance..... $600 cheaper for our 3 cars, and higher agreed values on the 981 and my daily Toerag...... Tried my local RACT and some of the others listed, even higher than Shannons!! Quote Link to comment Share on other sites More sharing options...
DJM Posted 9December, 2022 Report Share Posted 9December, 2022 On 18/11/2022 at 21:04, Tricky said: I thought I would post some details from my recent insurance research, which turned into a bit of an epic quest, in case it is of use to anyone else on PFA. For a while, I didn't think I was going to find any reasonable quotes and that I might have to ask for my deposit back... The car: 2019 Porsche 992 Carrera S MY20 PDK with $72k in options. Cost $400k when new. Bought used from a dealer for $310k plus $17k stamp duty = $327k, so this was my target Agreed Value. Garaged at night and in secure undercover office parking during the day, both Brisbane. The drivers: Myself - age 50. In past 3 years: 2 lots of 1 point for low range speeding, one insurance claim for stone chipped windscreen. Rating 1 for life. Wife - age 50. In past 3 years: no points, one 'not at fault' written off car (all the insurers said this would have no impact as not at fault) Contacted direct: RACQ – won’t cover cars above $200k. Call 1800 680 045 Allianz – quoted $4,145 annual / $345 monthly, with hire car, windscreen. Refused to raise agreed value above $249,800 (not much good for a car bought for $327k). https://www.allianz.com.au/ MB Insurance (underwritten by QBE) – quoted $2,914pa or $261.91 per month. $327,000 agreed value. $1,250 excess. Unlimited km. Hire car. Choice of repairer. http://www.mbinsurance.com.au/ or speak to Gemma Fallows on 07 5530 2399 (who was excellent) Enthusiast – can’t cover this car for above 5,000km per year. https://www.enthusiast.com.au/ Shannons – quoted $6,612 incl hire car, excess $3,270. Choice of repairer. Windscreen protection. Agreed value $327,000. Call134646 QBE – can’t insure above $150k. https://www.qbe.com/au/portal/quote/vehicle?promotionalCode=SAVE75#/welcome Ryno – quoted $4,325 with $3,000 excess for agreed value of $327,000. https://rynoinsurance.com.au/enthusiast-car-insurance Brokers Porsche Insurance – came back recommending MB Insurance. Same premium as going direct with MB Insurance, but higher excess at $3,000. Call 1300 711911. https://www.porsche.com/australia/accessoriesandservice/porschefinancialservices/contact/porscheinsurance/ Coverforce – best quote they had was with MB Insurance (same $ as direct). See below re Dawes and One Underwriting. www.coverforce.com.au/complete Arthur J Gallagher – Recommended going with MB Insurance, couldn’t beat direct quote above. https://www.ajg.com.au/ Lewis Insurance – recommended MB Insurance, they had same price as obtained direct. www.lewisinsurance.com.au Insurers accessible via brokers only Dawes Insurance – via broker only, accessed via Coverforce. Quoted $3,995 with $3,000 excess for $327 agreed value. https://www.dawes.com.au/ One Underwriting – via broker only. Accessed via Coverforce. Didn’t get actual quote, but in line with Dawes Insurance at $3,995. https://www.oneunderwriting.com.au/Products/Motor-Solutions Pretty easy decision in the end to go with MB Insurance. My only concern being that there is little competition out there in future years... Now the agonizing wait for the car to be transported up to Brisbane Very handy reference. I saved this page for future reference and having just bought a 992 GTS, I’ll start with MB and Ryno and see how I go. Thanks for posting 👌🏻 Quote Link to comment Share on other sites More sharing options...
Joz Posted 9December, 2022 Report Share Posted 9December, 2022 Was in at a local Porsche approved body shop yesterday thinking they may repair my work/ family van which got rear ended on Thursday. Anyhow according to the MB is far more better to deal with than most others when issues arise. They weren’t very complementary of Shannon’s though. Quote Link to comment Share on other sites More sharing options...
Peter John Posted 9December, 2022 Report Share Posted 9December, 2022 I think certain shops play the game a certain way and have better relationships with one insurer to the next- similar to a lot of businesses. Battisti doesn’t have a good one with Shannon’s when I used them a couple of years back, other repairers I’ve used have no issue and I’ve found Shannon’s great to deal with. My renewal arrived last week with a big jump on one car, I got a quote with MB and it was 500 on top of the Shannon’s increase. With a like for like comparison the excess was different and reflected in the premium, changing that to similar they were still 300 more. A small peev was MB was an online quote or print and email only- I always like a verbal quote- question and answer to let them do the typing. Joz 1 Quote Link to comment Share on other sites More sharing options...
Joz Posted 9December, 2022 Report Share Posted 9December, 2022 Fair point re relationships shops may have with insurers. Though you can speak directly to people atMB, I needed to to clarify some of my concerns. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.