Insurance Update

[nathanau]

Ive replied to a few posts based on my own experience where people have asked about insurance . Recently I changed from NRMA to Shannons and thought id make a follow up post as I had to make claims x 2. Ive always had full comprehensive insurance with one company or another. Ive never been driver at fault ( touch wood, or something for good driving and luck) but ive been hit a few times now and then and made various claims.

I still have a 65% no claim life time bonus. Until I changed to Shannons my Skyline (R34 GTT) was insured with NRMA. It was costing about $87 bucks a month. When I insured it, I insured it for market value which I was happy with, only considering cost of cover, not addressing my cars real value. But as I have a moded car, there is a lot of other things to think about, like replacing mods if damaged, not just panels etc.

I became curious what market value is, so I rung NRMA. They said Market Value for a Skyline R34 GTTis $13,000 which in my mind the entire time I was thinking market value would be around the 16K or so. I was really surprised that in the event of total loss id be lucky to get 13K back of which, my car along with its mods cost a hell of a lot more, plus my car is in top condition, paint, engine, parts, panels, with 49K on the clock atthe time ( good luck trying to replace that for 13K) there is no way in hell id replace it.

I phoned a bunch of insurers, some don't insure imports and others don't really have much of anidea what they are insuring (like mods) so if they had to replace stuff they use only stock parts etc… NRMA don't insure specific things. E.G my stereo,retail cost 4K ( if it was stolen bad luck, it isn't replaced other than withan original Skyline unit of 11 plus years or the value of such a stereo 11years in age) and so on… It gets messy and its seriously all under valued.

When I spoke to Shannons they were happy to insure all mods, stereo, front mount intercooler, A/M rims, even components and add ones I nominated. So I got a whole bunch of things covered including exhaust, engine mods etc, ALL the important expensive stuff. I also changed to an agreed valuation in the event the car is written off ( Not market value) which I am happy with given my budget. I now pay $97 a month for all that as apposed to NRMA shitty under valuation and $87 a month.

Unfortunately, I had to make two claims a few days or so after taking my policy with Shannons. One was storm damage ( week one) the other being a drunk driver running up my cars ass ( a week later) I was worried id have some drama with Shannons as with all insurers often things are not as they seem and if you make a claim it can turn out unpleasant as insurers love nothing more than to say "No" for lots of reasons they can find/invent. ( When my boat was sunk in a storm one insurer said nope, "it was an act of God and acts caused by God are not covered"… (Lumley's marine insurance)

I have Cat Back damaged (HKS), very slight and rear bar damage ( drunk driver) I have scratches from the storm ( Tree/s) to skirts, 4 small dents in bonnet , front bar damage (small, but scratched down to fiberglass) . I was worried that as the storm damage being very minor may be argued wear and tear or some other thing ( God again cause he hates me…or whatever) , and a dispute would arise. The drunk driver damage was clear, no questions.

I took my car to a smash repairer for a quote, in total, its about 3k WITHOUT the HKS Cat Back damage. Shannons sent an assessor. What is interesting is, as I had not bothered to really look at my Cat Back but more so the Bar, the assessor immediately picked up that the Cat Back was damaged and pointed it out saying it would need replacing. ( I had no idea)

He went onto qualify all the other damage and gave full approval that day for all repairs. I know from past experience, it is doubtful another insurer would be offering to replace stuff or point things out that I was not aware of let alone want to fix such slight stuff **correctly anyway. Another thing that is interesting is that some insurers will use **paintless dent removal where as Shannons said they wont do that but prefer to do things right, and want the dents correctly removed and panels re-sprayed (No cutting corners )

My repairer also commented when I asked during the quote what to expect from Shannons, he said that in his experience "they have always done everything to the highest standard". " I know Shannons say they understand imports but do they really ? or is that just a sales pitch ?Now having dealt with them I can say in all honestly, they do know what they are doing, even the assessor drives a top end import, you cant get better understanding and knowledge than an insurance company who employ car enthusiasts with a passion for imports when your pride and joy is in their hands.

There is a HUGEdifference between insuring your car from one insurer to the next and it shouldn't be only about paying a premium. What is important is what do you get when it comes down to it from your insurer, and how much real value is in your car AND to you? Is it worth insuring your car with the cheapest insurer with little to no performance knowledge (care) over making sure your car is going to be WELL covered by people who know car performance in so many other areas besides a panel repair.

Well this is my follow up to some other posts about insurance where people were asking who is good and who is bad. I fully recommend Shannons not only for their passion for imports, but for their integrity, honesty and knowledge of imports when it comes to repairs and replacementof performance parts not just panels.

Edited September 22, 2011 by nathanau

[emts]

My mustang is with shannons as well.

(well it's still an import)

not had to make a claim which happy with.

been rating 1 with max no claims bonus whole time so that no changed

Got my renewal this year and got the shock of my life.

they increased the value of the car AND dropped the premium!!!

valued at 28K and insurance just over 300 per year...awesome

how can you complain about that!

So i'm with you so much better than the other companies

[nathanau]

My mustang is with shannons as well.

(well it's still an import)

not had to make a claim which happy with.

been rating 1 with max no claims bonus whole time so that no changed

Got my renewal this year and got the shock of my life.

they increased the value of the car AND dropped the premium!!!

valued at 28K and insurance just over 300 per year...awesome

how can you complain about that!

So i'm with you so much better than the other companies

Good to know that too, you have a seriously good premium ! Mine is more expensive as i use my car as a daily driver. I have a planned update next year to a new GTR which ill insure with Shannons, but not as daily. Im expecting to pay around the 600 a year mark which is also dam excellent.

[zebra]

Ive replied to a few posts based on my own experience where people have asked about insurance . <br><br> Recently I changed from NRMA to Shannons and thought id make a follow up post as I had to make claims x 2.<br><br> Ive always had full comprehensive insurance with one company or another.<br><br>Ive never been driver at fault ( touch wood, or something for good driving and luck<font face="Wingdings"><font face="Wingdings">J</font></font> ) but ive been hit a few times now and then and made various claims.<br><br> I still have a 65% no claim life time bonus….<br><br> Until I changed to Shannons my Skyline (R34 GTT) was insured with NRMA. It was costing about $87 bucks a month. When I insured it, I insured it for <b>market </b>value which I was happy with, only considering cost of cover, not addressing my cars real value. But as I have a moded car, there is a lot of other things to think about, like replacing mods if damaged, not just panels etc.<br><br> I became curious what market value is, so I rung NRMA. They said Market Value for a Skyline R34 GTTis $13,000 which in my mind the entire time I was thinking market value would be around the 16K or so. I was really surprised that in the event of total loss id be lucky to get 13K back of which, my car along with its mods cost a hell of a lot more, plus my car is in top condition, paint, engine,  parts, panels, with 49K on the clock atthe time ( good luck trying to replace that for 13K)  there is no way in hell id replace it.<br><br> I phoned a bunch of insurers, some don't insure imports and others don't really have much of anidea what they are insuring (like mods) so if they had to replace stuff they use only stock parts etc… NRMA don't insure specific things. E.G my stereo,retail cost 4K ( if it was stolen bad luck, it isn't replaced other than withan original Skyline unit of 11 plus years or the value of such a stereo 11years in age) and so on… It gets messy and its seriously all under valued.<br><br> When I spoke to Shannons they  were happy to insure all mods, stereo, front mount intercooler, A/M rims, even stereo components and add ones I nominated. So I got a whole bunch of things covered including exhaust, engine mods etc, ALL the important expensive stuff.<br><br> I also changed to an agreed valuation in the event the car is written off ( Not market value) which I am happy with given my budget. I now pay $97 a month for all that as apposed to NRMA shitty under valuation and $87 a month.<br><br> Unfortunately, I had to make two claims a few days after taking my policy with Shannons. One was storm damage ( week one)  the other being a drunk driver running up my cars ass ( a week later)<br><br> I was worried id have some drama with Shannons as with all insurers often things are not as they seemand if you make a claim it can turn out unpleasant as insurers love nothing more than to say "No" for lots of reasons they can find/invent. ( When my boat was sunk in a storm one insurer said nope, "it was an act of God and acts caused by God are not covered"… (Lumley's marine insurance)<br><br> I have Cat Back damaged (HKS), very slight and rear bar damage ( drunk driver) I have scratches from the storm ( Tree/s) to skirts, 4 small dents in bonnet , front bar damage  (small, but scratched down to fiberglass) .<br><br> I was worried that as the storm damage being very minor may be argued wear and tear or some other thing ( God again cause he hates me…or whatever) , and a dispute would arise. The drunk driver damage was clear, no questions.<br><br> I took my car to a smash repairer for a quote, in total, its about 3k WITHOUT the HKS Cat Back damage.<br><br> Shannons sent an assessor. What is interesting is, as I had not bothered to really look at my Cat Back but more so the Bar, the assessor immediately picked up that the Cat Back was damaged and pointed it out saying it would need replacing.<br><br>( I had no idea) <br><br> He went onto qualify all the other damage and gave full approval that day for all repairs.  I know from past experience, it is doubtful another insurer would be offering to replace stuff or point things out that I was not aware of let alone want to fix such slight stuff **correctly anyway.  Another thing that is interesting is that some insurers will use **paintless dent removal where as Shannons said they wont do that but prefer to do things right,  and want the dents correctly removed and panels re-sprayed (No cutting corners ) My repairer also commented when I asked during the quote what to expect from Shannons, he said that in his experience they have always done everything to the highest standard.<br><br> I know Shannons say they understand imports but do they really ? or is that just a sales pitch ?Now having dealt with them I can say in all honestly, they do know what they are doing, even the assessor drives a top end import, you cant get better understanding and knowledge than an insurance company who employ car enthusiasts with a passion for imports when your pride and joy is in their hands. <br><br>There is a HUGEdifference between insuring your car from one insurer to the next and it shouldn't be only about paying a premium. What is important is what do you get when it comes down to it from your insurer, and how much real value is in your car to you?  Is it worth insuring your car with the cheapest insurer with little to no performance knowledge (care) over making sure your car is going to be WELL covered by people who know car performance in so many other areas besides a panel repair.  Well this is my follow up to some other posts about insurance where people were asking who is good and who is bad. I fully recommend Shannons not only for their passion for imports, but for their integrity, honesty and knowledge of imports when it comes to repairs and replacementof performance parts not just panels.

[nathanau]

LoLz the original post i made entered all the HTML codes as well, * meh* as u can see

[Alkatraz]

This is great news for me as i just signed up with Shannans for the first time. Thanks for taking the time to write that nathan.

[GTR-N1]

detailed story Nathan > of help to many

Shannons have a reputation to protect and seem to have good Claims Customer Service.

They also cover 1 windscreen damage per year without affecting Excess. Very strict about past speeding fines and loss of licence.

Lumleys Special Vehicles:- I don't know what they're like in Claims Customer Service...

but they're marketing to Car Clubs and making their premiums highly competitive + they cover all glass once a year (including side/rear windows)

Just Car doesn't cover any glass damage at this time, even if Customer Service is fair/reasonable.

Premiums seem to be somewhat higher than those above & it's like pulling teeth to get them to offer parity of Sum Insured.

Must go through AAMI repairers (and they pick the lowest quote)

NRMA even tends to offer lower Sum Insured than those above.

Guild Insurance is only offering cover for existing grey import customers and not taking on new business of our genre at this time.

[vspecIInur]

I'm with shannons and must say I'm glad that I recently did the switch from Just Car

[nathanau]

Just a reply to everyone who posted to say thanks and yeah i took the time to write a detailed thingy on my experience with Shannons because i really appreciate the care they have given without fuss and drama and really came to the party, just as I hoped they would. Almost all my previous experiences with insurers have really been seriously bad ( to be polite) and I was totally surprised having used Shannons for the first time, so i wanted to let other people know how they treated me when I had to make my claims ( x2) .

Its taught me a lot , as i said, it isn't just about a panel repair, its about quality workmanship and parts , and being all performance these things just dont come cheap not to mention how the panel repairs are done to the highest standard, no cutting corners.

Anyone just joining Shannons, hopefully no one will need to make a claim; but in the event it happens you'll have absolutely the best care for your car and that's seriously good value!!!

Happy driving everyone, ENJOY:)

Edited September 23, 2011 by nathanau

[nathanau]

detailed story Nathan > of help to many

Shannons have a reputation to protect and seem to have good Claims Customer Service.

They also cover 1 windscreen damage per year without affecting Excess. Very strict about past speeding fines and loss of licence.

Lumleys Special Vehicles:- I don't know what they're like in Claims Customer Service...

but they're marketing to Car Clubs and making their premiums highly competitive + they cover all glass once a year (including side/rear windows)

Just Car doesn't cover any glass damage at this time, even if Customer Service is fair/reasonable.

Premiums seem to be somewhat higher than those above & it's like pulling teeth to get them to offer parity of Sum Insured.

Must go through AAMI repairers (and they pick the lowest quote)

NRMA even tends to offer lower Sum Insured than those above.

Guild Insurance is only offering cover for existing grey import customers and not taking on new business of our genre at this time.

Heya Terry, thanx and yeah im really happy, have to give credit where it is due for sure. ! As for Lumley’s, wow! I dunno , i wouldn’t consider them again after my boat experience, plus when my boat sunk, it was due to being hit by another boat in the storm that had broken free of its mooring, so technically, it wasn’t storm damage or an act of God.. it was a collision.

But i can see the value now in using an insurer who understands performance, its a must do! When i was with NRMA i did list all my extras as part of the policy, i had to tell them what was on the car, but they didn’t understand, I remember them asking me what is a Cat Back... imagine now if i had to claim that from them and incidentally, Shannon’s didn’t go with just any Cat Back, they have replaced mine with a top of the line HKS (silent Hi-Power TYPE-H) and then they also considered the sheen as well, so it would not only do the job , but look the part on the car as well. (that’s amazing detail)

And that’s also right about the glass, that came with my policy to, as standard. Anyhows thanx again and i hope my experience can be of value to other people considering insurance, its worth consideration im sure. Cheers for now.

[Daleo]

Good to hear you had a good result with Shannons; I've got both my cars and house/contents with them.

Have had numerous claims; last ones, nearly $8000 of PDR (Paintless dent removal) on our Daily, and a $600 wing mirror repair on my Stagea, after a driver did the runner. No isses, and they chased the runner without question, didn't cost me a cent.

Not sure why you think PDR is bodgy; you get rid of the dents; and don't have old paint/ new paint mismatch. Have had one car done twice due to hails storms now, and minor pin dents repaired on my Black Stagea.

The Stagea cost $60 to have 3 dents pulled; paint/panel would've been at least $600. Result is perfect; I recommend it.

Shannons FTW.

[nathanau]

Good to hear you had a good result with Shannons; I've got both my cars and house/contents with them.

Have had numerous claims; last ones, nearly $8000 of PDR (Paintless dent removal) on our Daily, and a $600 wing mirror repair on my Stagea, after a driver did the runner. No isses, and they chased the runner without question, didn't cost me a cent.

Not sure why you think PDR is bodgy; you get rid of the dents; and don't have old paint/ new paint mismatch. Have had one car done twice due to hails storms now, and minor pin dents repaired on my Black Stagea.

The Stagea cost $60 to have 3 dents pulled; paint/panel would've been at least $600. Result is perfect; I recommend it.

Shannons FTW.

Bad news dude that happened to you, at least the result worked out ok for you. I have to pay an excess cause i cant chase a tree for it lolz but i didnt clarify, the PDR, if they had gone for that, where the dents are, its left REALLLLLLY slight scuffing, seriously i guess you need to look hard in the right light to see it, but they said get it re sprayed as oppsed to PDR. And yeah , thats pretty good of them.

[Daleo]

Bad news dude that happened to you, at least the result worked out ok for you. I have to pay an excess cause i cant chase a tree for it lolz but i didnt clarify, the PDR, if they had gone for that, where the dents are, its left REALLLLLLY slight scuffing, seriously i guess you need to look hard in the right light to see it, but they said get it re sprayed as oppsed to PDR. And yeah , thats pretty good of them.

Yeah; they've been great with us. We did have to pay excess for the hail, god's a bugger to get cash from. The car was well munted; every panel had damage to some degree, looks brilliant now.

Sounds like they made the right decision with yours though; as you say, they seem quite concerned about the end result.

[TerminalWraith]

Act of god... It's storm damage.

I praise Shannons repair process.

Interesting note that excess free glass claims can still affect your premiums... they are claims and it goes into pooling effect.

[godzilla111]

as an employee of NRMA insurance i can say that if you were given a market value of $13000 on your r34 and you cannot replace your vehicle for that amount, that is not the market value. we are not supposed to disclose the figure of market value due to its never a true reflection of what you will recieve at claim time. if your vehicle was to be written off, your vehicle would be assessed at the date of the claim ( condition , km etc ) and compared to other vehicles on the market , hence the term market value. Any insurance company that tells you the figure of a market value is being decietful as this is not what you will recieve if your vehcle is written off.

as for modifications, NRMA will cover ALL modifications as long as they are legal, if you have tuned / replaced your ecu please be aware this is grounds for denying a claim, this is under most insurers!

claims process with NRMA is quick , efficient and friendly. if your vehicle has a "low" sum insured, then change it. all insurers offer agreed value.

[TerminalWraith]

Errr they can tell you market value in case you're mods go over 25-40% of that value where they'd reconsider insuring you.

You are confusing market value for an assessed pre-accident value which has several inputs, the market being one of them. Redbook is good for getting an idea if you are concerned but every insurer is different.

I know RACQ uses valuers and have a tendancy to overvalue.

[Daleo]

as an employee of NRMA insurance i can say that if you were given a market value of $13000 on your r34 and you cannot replace your vehicle for that amount, that is not the market value. we are not supposed to disclose the figure of market value due to its never a true reflection of what you will recieve at claim time. if your vehicle was to be written off, your vehicle would be assessed at the date of the claim ( condition , km etc ) and compared to other vehicles on the market , hence the term market value. Any insurance company that tells you the figure of a market value is being decietful as this is not what you will recieve if your vehcle is written off.

as for modifications, NRMA will cover ALL modifications as long as they are legal, if you have tuned / replaced your ecu please be aware this is grounds for denying a claim, this is under most insurers!

claims process with NRMA is quick , efficient and friendly. if your vehicle has a "low" sum insured, then change it. all insurers offer agreed value.

So let's get this straight; NRMA cannot give an market value at the time of issuing insurance, and set the premium accordingly, then honour that price at claim time; but they can easily asses the value of a car once it's been damaged and devalued?

What if my car is a burned out hulk or has been flattened by a massive tree at the time of the claim? What if my car is stolen; never to be seen again?

How do you propose to assess the condition of my flawless paint that is destroyed or my $5000 set of wheels that are a pool of molten metal on the ground?

Can't? More like WON'T.

NRMA assesed a car of mine back in the day; over a month after it was damaged and had been sitting in a holding yard.

The assesor said; "Geez, it's not very well taken care of, it's all scratched and dirty"

No shit dumbarse! It's been out in the weather for a month after being rammed through a barbed wire fence by 4WD!

This led to the assesor downgrading the AGREED value of my car by half due to its "Poor Condition"! They then offered to refund the difference in premium (less stamp duty and other fees) The big hearted lugs!

NRMA does not like enthusiasts or modified cars; they like mums & dads who drive shoeboxes.

I will never give NRMA the time of day after their shoddy treatment of a blameless young guy, who had his pride & joy wrecked by a stupid old man. They just wanted to dodge the payout.

The ironic thing is; the young people they screw over now, are the same people they'll want to insure in 20 years time... Guess where they'll be?

Shannons has taken me at my word every time I've made a claim; they've bent over backwards to help, and even followed up months down the track to ensure I was satisfied with the repairs, their service, and even to see if my partner was recovering ok because quote; "We saw the pics of your car and were concerned for the driver."

Go advertise somewhere else champ; your employer sucks.

Edited September 28, 2011 by Daleo

[nathanau]

So let's get this straight; NRMA cannot give an market value at the time of issuing insurance, and set the premium accordingly, then honour that price at claim time; but they can easily asses the value of a car once it's been damaged and devalued?

What if my car is a burned out hulk or has been flattened by a massive tree at the time of the claim? What if my car is stolen; never to be seen again?

How do you propose to assess the condition of my flawless paint that is destroyed or my $5000 set of wheels that are a pool of molten metal on the ground?

Can't? More like WON'T.

NRMA assesed a car of mine back in the day; over a month after it was damaged and had been sitting in a holding yard.

The assesor said; "Geez, it's not very well taken care of, it's all scratched and dirty"

No shit dumbarse! It's been out in the weather for a month after being rammed through a barbed wire fence by 4WD!

This led to the assesor downgrading the AGREED value of my car by half due to its "Poor Condition"! They then offered to refund the difference in premium (less stamp duty and other fees) The big hearted lugs!

NRMA does not like enthusiasts or modified cars; they like mums & dads who drive shoeboxes.

I will never give NRMA the time of day after their shoddy treatment of a blameless young guy, who had his pride & joy wrecked by a stupid old man. They just wanted to dodge the payout.

The ironic thing is; the young people they screw over now, are the same people they'll want to insure in 20 years time... Guess where they'll be?

Shannons has taken me at my word every time I've made a claim; they've bent over backwards to help, and even followed up months down the track to ensure I was satisfied with the repairs, their service, and even to see if my partner was recovering ok because quote; "We saw the pics of your car and were concerned for the driver."

Go advertise somewhere else champ; your employer sucks.

Hmms, well there ya go, so glad i changed from NRMA to Shannons!!! thats what i was worried about, and the lady who was recording the after market parts i had at the time didnt know what a cat back was it made me think, what 'IF' i had to make a claim for stuff...... i would end up with any old part im sure. When my repair shop was looking at my Skyline, being 11 year old car, and we couldnt obtain the same type of HKS cat back, the repair shop said that Shannons will value what they are worth ( 11 years ago) and just give me the money out right. I was explaining they want a brand new current system on there, and he was like noooo they wont! Anyways lol they did. He was really surprised saying no other insurer would have done it like that. Shannons asked me to find what i need, they identify what i have, ( i didnt know) and this System was recommended by them ( http://www.justjap.c...&cat=252&page=2) , i got it from Tune House, ($1,285)

Would NRMA have known what to do ? Its doubtful. Or if i had to make a total loss claim what would they pay ? I would never have got back what my cars real value is. BUT in favor of NRMA, yup ( bad in your case i can see for sure no favors there) , its a mum and dad insurer, non performance and thats what they do. I had a stock old Subaru 5 years ago, I paid $600 bucks from Ebay , a year later, someone on the wrong side of the freeway (ignored wrong way go back signs) comes down the ramp and head on into me. My Subaru fell apart like a Chinese motorcycle , you couldnt recognise it! ( or me for a long time) but NRMA paid out $3,800 so that was pretty decent of them, not sure why they did what they did to you, thats not very decent!!. If i ever own a 'normal' car again, id go back with NRMA cause they paid me out a decent amount, but ill never go back to a 'normal' car ever, ( Slylines wayyyy to much fun) so ill stay with Shannons. I dont think there is a better deal or group of people around who honor their policy. and remember given there is about $10 dollars difference per month in premiums for me between NRMA and Shannons its just an obvious choice. I bet your glad you changed over now yeah

Edited September 29, 2011 by nathanau

[Daleo]

Yeah, never looked back once I could insure with Shannons

I think they dudded me because I was young and naive; the assessor saw an opportunity to shaft me, so he did. I'd be willing to bet; the at fault who destroyed my car didn't get the raw end of the pineapple though. I couldn't afford to argue, so I took the money and started saving my pitful apprentice wages and got on with it. But I won't forget.

I'm sure there are plenty of glowing recommendations for NRMA; they can't be that big without paying out most of the time.

My partner and I have had a couple of really bad experiences with two mainstream insurers; all have been not at fault claims, and the stunts they will try to pull really opened my eyes.

The common denominator for us has been that BOTH vehicles have been with the SAME insurer; so they can't just stick it to another insurer. They have to absorb ALL the loss. This is when the games begin.

Even after the other drivers has been charged at the scene; and I had police reports to prove it; they still refused to waive our excess. I won't lay down and take it now; but man, did we have to fight.

I might seem a little bitter; but I think it's good to let people know. If I'd known; I would've been with Shannons YEARS earlier.

Cheers, Dale.