Sydney Insurance

[MattitudeR34GTT]

So I live in Sydney and I've had the pleasure of owning a Beautiful R34 GTT for the past two years after importing it from Japan. Love her to Bits!

But Unfortunately living in Sydney means paying and arm and a leg for insurance just to be able to drive my baby around.

Now I've found plenty of posts/topics on here about what everyone pays for their Insurance BUT they don't live in Sydney! Mostly Perth Adelaide Brisbane etc and their annual premiums seem extremly afforadable compared to what i have to pay.

So Im just wondering what other Sydney people pay for the R34's Insurance and if there are any other insurance companies out there that could offer me a better deal that i haven't heard of yet?

I'm currently insured with Shannon's and just got my renewal. $2200 premium and a $600 excess with an agreed value of $23500. Agreed Value dropped down from the agreed $30000 last year so firstly im not real impressed with that! Especially since the premium only dropped $200.. is that normal?? Loss of $6500 = $200 less?

By the time Green slip and Rego are payed I'm up for about $3000+ each year!

So I'm 26 Years old and I remember back when i was a teenager wishing I could hurry up and get past 25 so that I could afford to insure/purchase a nice car. I finally get here and find that the over 25 = cheaper insurance deal has now risen to 30 year olds and above. I bet by the time I get to 30 it will have risen to 40 L

Ive got a Clean record except for two minor speeding fines in the past 5 years. Have had my Licence for about 10 years and have NEVER made a claim.

I usually keep in a locked garage day and night and don't drive her all that often. E.g. Some nights after work, some weekends etc. More than twice a month but less than twice a week... usually.

Current Mods listed on my insurance with Shannon's:

Arc Front Mount Intercooler

Full Apexi exhaust

D5r 18inch Alloys

Eastbear Body Kit

Slotted Rotors

Apexi Pod Filter

Excedy Clutch

Rsr SportsI Suspension/lowered

East Bear Carbon Fibre Bonnett

HKS Blow Off Valve

Head unit, splits, amps, subs etc

I have a Immobiliser/alarm with sim card that text's and calls me when the alarm goes off.

Now I've rang a few companies and got the following quotes (well the ones that would even consider touching me in Sydney with an R34)

Just Car insurance: $2200 premium with $600 excess. All mods Listed. (Same as my Shannon's renewal) If I was to raise my excess to $1400 then my premium would drop to about $1600-$1700. Not too bad but at the same time if something does happen then I'm up for $1400 bucks! Plus from friends and on here I've herd they can sometimes be difficult to get them to pay out.

Shannon's insurance: As stated above $2200 with $600 excess. All Mods Listed. No choice to increase the excess tho. Advantage is that from what I've herd that are the best at what they do and no one has had problems making claims. Big Plus!

Famous insurance: Have recently changed their policies to only allow over 30 years olds L Talked to the guy on the phone for a bit and had I been over 30 for a standard r34 he estimated about $1600 - $1800. But i didn't mention any mods so could possibly be more.

Dawes: $1600 premium, $750 excess with all mods listed. Sounds good right! WRONG.. there is a special clause that says that my car HAS to be parked in my lock up garage between 10pm and 5am. Thats what they call "Overnight" If its parked anywhere else between those hours and something happens it isn't covered. E.g. 10:30pm I drop into a mates place or park at a servo or even perhaps macca's and some fool drives into my car or its gets stolen and I'm F**ked. I'm not about to take that risk especially since i occasionally drive and stay at mates places and or to my parents place 5 hours away and can't exactly get back to my garage every night.

Suncorp: About $3000 premium $2000 excess. Only insure to market value which is sweet FA compared to what I think she is worth.

Lumley Special Vehicles: Don't insure Skylines anymore – only classic cars.

Young and Cool: Now Famous Insurance – see above

Ryno insurance: Wont insure Skylines

Prestige Car Insurance: Now Lumley Special Vehicles – see above

Unique Car Insurance: Now Lumley Special Vehicles – see above

Street Tech Modified Vehicle Insurance: Lost underwriter so no longer doing insurance.

AAMI, NRMA, and all the other normal car insurance companies either won't touch a Skyline or expect 4000+ and only insure for market value.. didn't even try explaining it had mods. And get this NRMA valued the car at $9000 WTF????

Are there any insurance brokers that want to take up the challenge? I've heard they can get insurance from companies that the normal public cant?

Ideally I would be happy for insurance with my agreed value for around $1600-$1800 mark but after the many hours I've already spent looking into this I'm thinking I'm just going to have to bite the bullet and pay.

So now I'm curious to see what everyone else in Sydney with an R34 pays???

BTW, these two sites gave me a lot of ideas for companies to try.. even though these lists are extremely outdated that did point me in the direction of some companies I had never heard of.

http://www.importdriver.com.au/insurance.htm

http://www.prestigemotorsport.com.au/modul...rticle.php?t=35

[GTR-N1]

Do you have a close relative in the medical/nursing/pharmacy/physio industry?

Another guy on SAU is 27 yrs old, with a close relative as above. Admittedly, that relative has insurance with "Guild" already.

He pays "Guild Insurance" $1100 a year for an R33 GT-R with sum insured of about $24K. Excess is $500 for 'at fault'. Own choice of repairer.

He has now halved his premium - previously insured with Just Car.

[usmair]

the suburb makes quite a difference

eg insurance for a car located in the northern suburbs would be cheaper compared to the same car being parked in blacktown....

[MattitudeR34GTT]

Do you have a close relative in the medical/nursing/pharmacy/physio industry?

Another guy on SAU is 27 yrs old, with a close relative as above. Admittedly, that relative has insurance with "Guild" already.

He pays "Guild Insurance" $1100 a year for an R33 GT-R with sum insured of about $24K. Excess is $500 for 'at fault'. Own choice of repairer.

He has now halved his premium - previously insured with Just Car.

I actually work for Ramsay Health which is one of the biggest Private Health service's in Australia. I emailed Guild earlier today but have yet to recieve any response. Will see what happens.

Thanks for your reply Terry.

[MattitudeR34GTT]

the suburb makes quite a difference

eg insurance for a car located in the northern suburbs would be cheaper compared to the same car being parked in blacktown....

I actually live right in the northern suburbs so I would hate to think what it would cost me if I was in Blacktown. Mind you I dont see alot of R34's driving around my area nor have I seen any parked in the streets or drive ways let alone heard of any getting stolen or written off nearby so I would assume the "Sydney Area" in general would be enough for them to hike up the premium.

Ive seen so many posts from people on here winging of having to pay $1200 or less in other states/citys and I would gladly pay that over my premium... ahh well

[FrangaR33]

Your problem is you live in Sydney, insurance companies hate people from Sydney for some reason. I can insure a 2008 R35 with RACV for something like $1500 a year at my house in Melbourne (i'm only 23 and on my full license, no accidents not even a ticket) yet its $200 more where in live in Sydney to insure my old commodore run around. Its complete bullshit, I live in Frankston for gods sake the car theft capital of South east Melbourne yet I can insure a car worth 185 times more money for the same price just because Sydney sucks the big one.

[mad082]

for the loss of value of the car, that doesn't suprise me. you were lucky to get as high as 30k for last years agreed value. as for it only dropping $200, that also doesn't suprise me. the fact that you have had 2 speeding fines in the past few years will definately be putting your premium up by a few hundred dollars. even if they are only minor they can still add $100 or $200 onto the cost of insuring a car.

[evil_weevil]

You live in Sydney. You drive a skyline.

What more can be said?

edit. id stay with the most trusted one.

[EJD001]

i live on the central coast..an hour north of sydney

car is insured with Just car, it was going to cost me $1900 per year to insure, i bumped up my excess, and got it down to $1200 per year, all mods and from memory it was insured for $24-26,000

[MattitudeR34GTT]

i live on the central coast..an hour north of sydney

car is insured with Just car, it was going to cost me $1900 per year to insure, i bumped up my excess, and got it down to $1200 per year, all mods and from memory it was insured for $24-26,000

Yep but im guessing that your excess is somwhere between $1500-$2000? In the event that something happens youve actually forked out more than twice your annual premium.. Plus if its stolen I think you have to add another $800 - $1000 to that again!

I think im going to stick with Shannons and just pay it monthly.

[.:: GimpS-R34 ::.]

buy a prius..

[EJD001]

Yep but im guessing that your excess is somwhere between $1500-$2000? In the event that something happens youve actually forked out more than twice your annual premium.. Plus if its stolen I think you have to add another $800 - $1000 to that again!

I think im going to stick with Shannons and just pay it monthly.

It all depends on your circumstances tho.

I have a company car, so my car sits in the carport for weeks at a time, i live in a dead end street and the chances of it getting out of my front gate would be highly unlikly.. thats y id rather pay more of a premium if i do have a acco!

[Rob260]

Hi matey, I'm in Sydney, 26 yr old and have a very modified Z32 insured through Shannons with premium around $1300... Agreed value is significantly higher than what you have, and I have full salvage rights.

Garaged 24/7, limited use, with Australian Standards Approved alarm/immob.

Don't know why your premium is so high?

Actually having just reread your post is your alarm aussie standards approved? Most of those GSM ones aren't, might have something to do with it?

Edited July 19, 2010 by Rob260

[MattitudeR34GTT]

Hi matey, I'm in Sydney, 26 yr old and have a very modified Z32 insured through Shannons with premium around $1300... Agreed value is significantly higher than what you have, and I have full salvage rights.

Garaged 24/7, limited use, with Australian Standards Approved alarm/immob.

Don't know why your premium is so high?

Actually having just reread your post is your alarm aussie standards approved? Most of those GSM ones aren't, might have something to do with it?

Yeah pretty sure my alarm is an Australian Standard one. Its made by Rhino and is the RAMv2 Model. Pretty sure they are an Australian company so would build it to those standards. See here: http://www.rhinoco.com.au/product/ramv2/

Sorry dont know much about your car but is it an actual Grey Import? E.g. Was it actually sold in Australia by Nissan or are they only availiable by importing from overseas. I know that makes a big difference on insurace as parts are not as readily availiable for Imports etc.

Plus at a guess I would say your car could be 8-10 years older than mine as they were produced around the late 80's to early 90's right?? Another factor that could explain the difference.

Plus I dont think Mods and agreed value make a huge difference on the standard premiums as Ive now come to understand that they associate "risk" mostly with the type of car, area its in and the driving history and they are what control the premiums more than the mods and or agreed value.. In my case I think its just the the area thats the main reason for having to pay so much, especially since just my just car didnt want to know my driving history except for Claims and or loss of licence and criminal charges which was a big fat 0.. and the premium was still as high as shannons..

Ohh and can you explain the "Full Salvage Rights" ?? Might look into getting this as some of my mods you can only get from Japan.

[Shell]

I'm currently insured with Shannon's and just got my renewal. $2200 premium and a $600 excess with an agreed value of $23500. Agreed Value dropped down from the agreed $30000 last year so firstly im not real impressed with that! Especially since the premium only dropped $200.. is that normal?? Loss of $6500 = $200 less?

I don't think $2200 is too bad for Sydney.... is that with 60% NCB? And at least you can pay by the month with no extra charge at Shannons.

Also the price drop is pretty fair, i would almost say that $23500 is still a bit overpriced, so i think you're doing ok there!

[some_cs_student]

Justcar has an adjustable excess, so you can drop your premium but the excess will increase instead...

I'm saving a few hundred a year at least, but the excess is very expensive.

[mxfly]

Hi matey, I'm in Sydney, 26 yr old and have a very modified Z32 insured through Shannons with premium around $1300... Agreed value is significantly higher than what you have, and I have full salvage rights.

Garaged 24/7, limited use, with Australian Standards Approved alarm/immob.

Don't know why your premium is so high?

Actually having just reread your post is your alarm aussie standards approved? Most of those GSM ones aren't, might have something to do with it?

That's why it's so much cheaper than "daily use". I have the r34 insured as limited use and it's just 80 bucks a month i think, maybe a little more but it's cheap for what the car is valued at.

[Blitz]

I remember paying $3800 to insure my R33 GTS-T with Famous back when I was 22......

[R.3.2.G.T.R]

whats allowable with limited use?

[DC33VN]

whats allowable with limited use?

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