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Insuring With Shannons

Discussion in 'Kombi Club' started by melissa, May 9, 2010.

  1. valentine

    valentine New Member

    Messages:
    17
    Location:
    Burpengary, Brisbane
    Hey guys, my 73 bus's Resto is nearly complete so thought it was time to get some insurance, rang Shannon's and we're happy to give me agreed value of $40k my problem is I have put significantly more money than this into the van and they stated they won't go any higher. Has anyone been able to insure a 73 for more than this? If so how did you manage it?
    Thanks for the help!
     
  2. Waz356

    Waz356 Member

    Messages:
    64
    Location:
    Adelaide, South Australia
    Hard question. What you put in to restoring a vehicle doesn't necessarily relate to its value. How many '73 kombis on the market at $40k plus?
     
  3. Grantus

    Grantus Well-Known Member

    Messages:
    14,493
    Location:
    Southern ACT
    Is any Kombi ever worth the amount of dollars invested in a full resto? :rolleyes:

    Insurance companies will insure to a feasible possible sale price, (market value).

    But if every aspect of a resto is performed by top end professionals , with prices to match, the end cost will always exceed any possible sale price.
     
    oldman and StevieVW like this.
  4. cbus

    cbus Well-Known Member

    Messages:
    10,836
    Location:
    sunshine coast
    Agree.
    Like someone not long ago wanting 90k for a bay because he had spent that much.
    Dream on.
    Average bay purchase and resto 70k
    Still only market value 40- 45 most likely.

    Full list of all work done with receipts and fully documented with photos would help establish values.

    There is market and replacement value.
    Thought there were cases of rare cars and genuine restorations , fully documented, getting agreed values close to cost but can't confirm that.

    Other than the above my expectation is market value is likely to prevail unless strong supporting evidence of costs and quality of work can convince insurer otherwise
     
    oldman likes this.
  5. Justin Sane

    Justin Sane New Member

    Messages:
    17
    Location:
    Adelaide
    Just bought my first Kombi.
    I have other cars with Shannons.
    Phoned them and no questions asked on my agreed value.
    (After I inflated the purchase price somewhat)
     
    David H likes this.
  6. David H

    David H Well-Known Member

    Messages:
    3,267
    Location:
    newcastle
    I also went with Shannon's today at the suggestion of my business insurance broker (20 year relationship) after 2 year ago accident & expensive resto (see resto thread). Business registered bus.
    They would only cover $25k (much less than I've spent if you include the value of the bus I started with) without photos (also discussed camper conversion type & their 'in house' expert who reckoned Westfalia was a higher value!! My Sopru being 'factory original'.). I'll send some photos tomorrow to Shannons & the link to my Resto. A great service provided by this site. No argument by me about value so we get to the price for an 'occasional drive' comprehensive insurance. This is stunning .....drum roll........$360.21/p.a. Salvage in my hands:D. Which gives me back the value of the bus I started with! Unbelievable & very happy:).
    Amended 30.6.17
    Update after photos....they went to $30k for $395/p.a with full salvage on my side with no extra cost. That puts old boys value up to what he owes me.
    Cheers
     
    Last edited: Jul 4, 2017
    Sahara Hilton and melissa like this.
  7. syncro

    syncro Well-Known Member

    Messages:
    8,957
    Location:
    Southern Highlands
    I've just called Shannons about paying CTP insurance early. They say that it cannot be paid more than 42 days before the due date. Registration can be renewed 3 months before the due date. Now can anyone tell me how that works? Or did I speak to a typical Aussie liar?
     
  8. Luckyphil

    Luckyphil Well-Known Member

    Messages:
    5,554
    Location:
    Gosford
    So now all Aussie's are liars? Phil are you just unlucky that everyone you deal with is a liar or time waster?
     
    David H likes this.
  9. syncro

    syncro Well-Known Member

    Messages:
    8,957
    Location:
    Southern Highlands
    Did I say that?
     
  10. Luckyphil

    Luckyphil Well-Known Member

    Messages:
    5,554
    Location:
    Gosford
    Yep, read your post. "Or did I speak to a typical Aussie liar?"
     
  11. David H

    David H Well-Known Member

    Messages:
    3,267
    Location:
    newcastle
    Don't know what state Phill but in NSW rego slip (if required after 5 yrs) is only valid within 30 days of actual rego date. Would think green may have the same requirements? & Shannons is across all states.
    Cheers
     
    Last edited: Jul 21, 2017
  12. syncro

    syncro Well-Known Member

    Messages:
    8,957
    Location:
    Southern Highlands
  13. rstucke

    rstucke Well-Known Member

    Messages:
    616
    Location:
    Wamberal NSW AUS
    AUVIS (blue slip) is 42 days
     
  14. David H

    David H Well-Known Member

    Messages:
    3,267
    Location:
    newcastle
    syncro likes this.
  15. syncro

    syncro Well-Known Member

    Messages:
    8,957
    Location:
    Southern Highlands
    I can understand why.

    From the RMS;

    What happens if I sell my vehicle?
    • You are still required to provide the new owner with a safety inspection report. In these cases, the inspection report cannot be more than 42 days old on the day of sale.
    If an inspection report was issued on 1 November 2014 how long will it be valid for?
    • The six month validity period only applies to Safety Inspection Reports issued from 1 December 2014; a report issued 1 November 2014 must be used within 42 days.

    I think that they could have made this a bit clearer. I am assuming that the second question only refers to registration renewal.
     
    David H likes this.
  16. Mellow Yellow 74

    Mellow Yellow 74 Active Member

    Messages:
    800
    Location:
    Sydney
    My daughter got her P’s today so I rang Shannon’s to advise them that she would be driving our Kluger a couple of times a week.

    They advised that the premium would triple and the excess would double, so that is not happening. I guess I will be looking for a new insurer soon. Oh well, their claims service was shit anyway.
     
    Barry likes this.
  17. Alpal

    Alpal Moderator Staff Member

    Messages:
    8,291
    Location:
    Melbourne Bend of Islands
    Sadly a young driver will incur maximum premiums.
     
  18. syncro

    syncro Well-Known Member

    Messages:
    8,957
    Location:
    Southern Highlands
    I think it will be the same with any insurance company.
     
  19. melissa

    melissa Administrator Staff Member

    Messages:
    14,406
    Location:
    Newcastle NSW
    You will struggle with most insurers, unfortunately. Out of all of my cars with Shannons, the 2001 Beetle costs me more each month to insure than the 62 split, the 75 kombi, the 74 kombi, the Touareg, the 99 Polo, the 97 Golf AND the Royal Enfield motorbike combined! - this is because I have one of my kids listed as a driver. Sorry to hear you are not happy with their claims service - I have been happy with the claims I have had - but everyone's experiences are different.
     
    prone, David H and MAP77 like this.
  20. David H

    David H Well-Known Member

    Messages:
    3,267
    Location:
    newcastle
    That sucks but I decided the best way for my daughters was their own policy for their car & whilst expensive that only lasts 3 years & the history is theirs to keep (good or bad & doesn't affect my policy). I did subsidise those 3 years tho'.
    Would have thought from an actuarial situation that only the excess should change & only for the young driver? That's the situation with youngest daughters car. Excess less if I prang it! (Budget Direct) Did you ask them why the premium tripled? I'd love to hear their answer.
    Cheers
     

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