Insurance R33

[Eran1]

Hi All

I am 30-year-old with no loss of license, demerit points or convictions etc. I Recently purchased a 94 R33 GTS-T (vic). Purchase price of $18500.

I have rung several insurance companies looking for quotes on comprehensive insurance. Below are my findings:

1. RACV -  will not insure

2. Youii - $2400 / year

3. Shannons - $2313 / year

4. Budget - Will not insure

5. AAMI will not insure

Barely any aftermarket mods with only a 3" exhaust and intercooler. 

I am not sure what everyone else is doing? is this normal or are most just taking out third party? this is only a weekend car i may take out once a week if that. 

 

Any comments / advice would be appreciated. thanks in advance.

Ez

[admS15]

Enthusiasts may be cheaper depending on how many kms you plan on doing per year.

 

Edit, since you say only weekend use, enthusiasts will be much cheaper, insure you for decent value and don't care about how many mods you have.

I've never had to claim with them so can't comment on how good or bad they are when it comes to that.

Edited December 30, 2020 by admS15

[Matty George]

Enthusiast for sure. $300 cheaper than Shannon’s on my GTR32 

[Eran1]

Thank you so much. You guys are life savers! They’ve quoted as low as $1200 a year for what I need! Thank you!!

[r32-25t]

You must live in one hell of a hotspot cause that’s almost double what I’m paying for an r32 gtr through Shannon’s 

[Dose Pipe Sutututu]

I'm with NRMA Vintage and it's $490 a year full comprehensive. However they no longer are accepting new policies and refuse to budge on the agreed value.

I'll be moving to Enthusiast myself next year if i decide to fix the car.

[GTSBoy]

I live in a bad postcode and my R32 is only 1/4 of that Shannons' quote, with Shannons.

Which circle of hell are you garaging it in? Newcastle?

[Murray_Calavera]

That Shannons quote seems insane, I insure my daily (3rds party only) and my R33 full comp with Shannons for $780 per year and that's for both policies. 

[admS15]

What sort of value are you guys being covered for with shannons?

[GTSBoy]

1 minute ago, admS15 said:

What sort of value are you guys being covered for with shannons?

Ah, well, there's the rub. They won't allow me to increase the value to >$10k unless I improve the garaging situation. Seeing as improving the garaging situation will cost >> than the possible loss on the car should it get destroyed, there would seem to be no point.

It's bloody annoying actually, because the car is dailied it's about 1000x more likely to be written off by a meth-head in a delivery van than it is to be stolen by a meth-head in mismatched thongs.

But, when I spoke to them about it, they would have been happy to put the value at some large number (nominally $25k for an R32, I guess) for only a small increment in premium.

[Murray_Calavera]

Yep, I've found the same thing with them regarding the garage situation. 

My coverage is around the 15k mark if memory serves. I'll have to put it up again soon the way the market is going with skyline prices. There is no chance in hell I could replace the car if there was a total loss. 

[r32-25t]

1 hour ago, admS15 said:

What sort of value are you guys being covered for with shannons?

50k

[admS15]

Mines down for 19K. 

Sounds like we're all underinsured considering the current state of play. @GTSBoy you need to triple your value to be in the ballpark of a fair replacement.

[r32-25t]

Even at my current value looking at the prices on Carsales and gumtree I couldn’t buy a replacement body 

[admS15]

49 minutes ago, r32-25t said:

Even at my current value looking at the prices on Carsales and gumtree I couldn’t buy a replacement body 

Current craziness, 75k is fair for yours i think.

[GTSBoy]

1 hour ago, admS15 said:

Mines down for 19K. 

Sounds like we're all underinsured considering the current state of play. @GTSBoy you need to triple your value to be in the ballpark of a fair replacement.

Yeah, it's true. But, when you look at it more objectively - 5 years ago it was worth ~$7k. If I had lost it then that's all I would have gotten. I'm no worse off now than I was then, so long as I don't want to replace it with another Skyline. And I'm pretty clear in my head that I don't want to buy anyone else's Skyline. Any good cars owned by any of you guys aren't likely to be for sale, and if they are you'll want US money for them.

There's an opportunity cost/loss should it be written off compared to what I would get in pocket if insured for $30k. But again, that's only ~$20k, which is not really enough to make anyone cry into their beer. Would rather have it, but won't miss it.

[Eran1]

I did notice on the Shannon’s quote, they offer a 65% no claim bonus after 3 years. Perhaps that’s why you guys are getting such good rates now?

im in the western suburbs of Melbourne. Insured value of 19k

Edited January 1, 2021 by Eran1

[Milkmun]

3 hours ago, Eran1 said:

I did notice on the Shannon’s quote, they offer a 65% no claim bonus after 3 years. Perhaps that’s why you guys are getting such good rates now?

im in the western suburbs of Melbourne. Insured value of 19k

Hey mate, I'm also in the western suburbs, similar profile as you and I pay roughly $1000 for my R33, valued at $17000 with Shannons.

[Tobz]

I have mine at $32k and pay $570 a year with enthusiast for  4,000kms a year. I was pretty happy with the service so far. No claims though

[Ben C34]

48 minutes ago, Tobz said:

I have mine at $32k and pay $570 a year with enthusiast for  4,000kms a year. I was pretty happy with the service so far. No claims though

Everyone is happy when nothing actually happens. Can you please crash your csr and report back. I ma genuinely curious and don't want to do it myself

Thanks.