Jump to content


Photo

240Z Current Insurance Values

240z insurance

  • Please log in to reply
33 replies to this topic

#1 the red zed

the red zed

    Advanced Member

  • Members
  • PipPipPip
  • 30 posts
  • Location:brisbane
  • Tagline:For The Love Of Z

Posted 16 August 2016 - 08:16 PM

Hi Gents,
As I'm toying the thought to get my 72' 240z auto insured with Shannon's before going to storage. Can anyone please let me know the ball park current market value. It's not a show car but it's in pretty clean, straight, rust free & mechanically sound condition. Just try to avoid premium overpay & undervalued at the same time. Or any other insurance company that you would recommend. Thanks

#2 chris240

chris240

    The 2000+ club

  • Members
  • PipPipPipPipPipPipPip
  • 2,194 posts
  • Location:rust free Canberra
  • Tagline:When in doubt...mumble.

Posted 16 August 2016 - 09:50 PM

$25-35k

#3 Zedstar

Zedstar

    Advanced Member

  • Donating Members
  • PipPipPip
  • 58 posts
  • Location:Melbourne, Vic

Posted 16 August 2016 - 10:03 PM

$40- $50k closer to mark.
  • gav240z and TDoherty like this

#4 gav240z

gav240z

    Administrator

  • Administrators
  • 12,662 posts
  • Website:http://www.viczcar.com
  • Location:Sydney NSW
  • Tagline:Jack of all trades, master of none.

Posted 16 August 2016 - 10:49 PM

$25-35k


Try finding a replacement for that price now. My moto is always over-insure because too many folks are under insured.

Speaking of which I should take my own advice and up my own car(s) values.

$40- $50k closer to mark.


+1

#5 the red zed

the red zed

    Advanced Member

  • Members
  • PipPipPip
  • 30 posts
  • Location:brisbane
  • Tagline:For The Love Of Z

Posted 17 August 2016 - 07:14 AM

That's so good to know gents...cheers!

#6 gilltech

gilltech

    The 1000+ club

  • Donating Members
  • PipPipPipPipPipPip
  • 1,147 posts
  • Location:Brisbane

Posted 17 August 2016 - 04:42 PM

More to the point, ring up Shannon's and talk to one of their people, they'll know what they think replacement value will be. They may want to see some photos.

Point out that you will want 'lay up' insurance which is obviously cheaper than 'on road' cover, as it doesn't cover the risks of road use.

Also any security that will be in place to protect the car where it will be - locked garage, alarm system, up on blocks, dismantled, whatever.

And whether you would want salvage rights on the vehicle.

 

I have Shannon's comprehensive insurance on my three vehicles. My Zed's cover is bundled with my Falcon daily, & my Mustang.

My Zed's share of the annual premium is just $132, as it's 'usage' is Laid Up (no cover for road use). The Zed's basic excess is $200, & theft excess is $0.

I pay my total premium monthly, at no penalty over the annual amount, which suits me best.

Hope that might be of some help.


Edited by gilltech, 17 August 2016 - 04:48 PM.

  • the red zed likes this

#7 Retro Z

Retro Z

    The 1000+ club

  • Members
  • PipPipPipPipPipPip
  • 1,406 posts
  • Location:Melbourne, western suburbs
  • Tagline:73' 240z and 72’ 240z

Posted 17 August 2016 - 10:29 PM

Just got mine insured for 45k agreed value last month for $600 annual premiums with shannons.
  • the red zed likes this

#8 the red zed

the red zed

    Advanced Member

  • Members
  • PipPipPip
  • 30 posts
  • Location:brisbane
  • Tagline:For The Love Of Z

Posted 18 August 2016 - 08:34 PM

Thank you so much gents... U guys been very helpful ...

#9 zedls1

zedls1

    Advanced Member

  • Members
  • PipPipPip
  • 207 posts
  • Location:Lalor, Victoria

Posted 18 August 2016 - 11:33 PM

You may want to try Famous Insurance if not too late, I've got my Volksy R36 wagon with them, they were $500 cheaper than most of the main players, when I had my 240Z I had it with Shannons, agreed value $40,000, was paying $540, Famous quoted me $280 from memory for the same cover. Famous also offer track cover for those who track there Z, separate policy, I had asked them for $10,000 track cover and it was around $500, my 2c worth.

 

John



#10 PZG302

PZG302

    The 1000+ club

  • Members
  • PipPipPipPipPipPip
  • 1,761 posts
  • Location:Brisvegas or the Big Durian

Posted 19 August 2016 - 01:50 PM

The only drama I have had with famous is that they have never replied to my quote requests through their website.

 

And comparing insurance between people in different locations, different ages etc is a nightmare.

 

Personally I have all my cars and house and contents through Shannons, except for my work ute. The policy conditions and benefits work nicely for me and my circumstances, but may or may not work for yours. I probably fit Shannons customer profile better than a lot of others here, old fart with a reasonably good driving history in terms of infringements and claims in a leafy "safe" suburb with low usage cars.

 

Having said that, each year I get a range of quotes to make sure I am not being stung with the lazy tax on my policies to keep them honest.



#11 AndBir

AndBir

    Advanced Member

  • Members
  • PipPipPip
  • 259 posts
  • Location:Victoria

Posted 19 August 2016 - 02:28 PM

Yep, Famous are cheaper than Shannons (got quotes in anticipation of getting the 260z) - one difference that maybe of interest is that if the vehicle is written-off Shannons allow you to keep the vehicle.

 
"Special Policy Features : You have Salvage Rights on this vehicle."


#12 gav240z

gav240z

    Administrator

  • Administrators
  • 12,662 posts
  • Website:http://www.viczcar.com
  • Location:Sydney NSW
  • Tagline:Jack of all trades, master of none.

Posted 19 August 2016 - 02:33 PM

And that for me is a pretty big difference!

#13 AndBir

AndBir

    Advanced Member

  • Members
  • PipPipPip
  • 259 posts
  • Location:Victoria

Posted 19 August 2016 - 02:44 PM

Given the price of parts even if the vehicle was unable to be economically repaired then the breakup (parts) value could be high.



#14 PZG302

PZG302

    The 1000+ club

  • Members
  • PipPipPipPipPipPip
  • 1,761 posts
  • Location:Brisvegas or the Big Durian

Posted 19 August 2016 - 02:50 PM

Just read the PDS very carefully from all companies that you are considering and make sure that the policy from the company you are going to use suits your needs and that if you ever have to claim it doesn't become one huge shit fight.

 

One good example where people have been stung is to buy an agreed value policy to find out when the time comes to claim that the company will only pay out on the market value or agreed value, whichever is the cheaper. So check the PDS carefully.

 

I have heard horror stories from some discount insurers on the claims side of things, but they are marketing to a segment that is price conscious only and usually don't read PDS's or look into how the claim process will work.

 

There are a few of these companies that when i plug any of my cars into their systems to generate a quote I am refused due to age of car of that it is a performance vehicle, '79 Merc 280SE and FG MKII XR6 Turbo ute were the cars i tried with some "budget" companies to see what prices I could get.

 

Have also been affected by the claims process of one major company that did say choice of repairer, but when you exercise that choice, they will only pay you up to the value of what their repairer has quoted to do the job, from photos only and not looking at the work needed, leaving you out of pocket to get the repair done the way want it done by who you want it done by, even when it is a not at fault claim.


  • AndBir and the red zed like this

#15 Riceburner

Riceburner

    The 2000+ club

  • Members
  • PipPipPipPipPipPipPip
  • 3,261 posts
  • Location:Melbourne, Victoria

Posted 19 August 2016 - 11:45 PM

Perhaps specifics of what you did to gain the agreed value as well would be helpful? The more of us asking for higher insurance values can only be a good thing. 


  • the red zed likes this

#16 EJ101

EJ101

    Advanced Member

  • Members
  • PipPipPip
  • 154 posts
  • Location:Western Sydney
  • Tagline:When I had my Z

Posted 20 August 2016 - 08:34 AM

don't get sucked in by cheap quotes. if you're only paying an extra couple of hundred bucks a year to go with Shannons, I'd go with Shannons. There are so many new insurance companies popping up that I personally, get a bit suspicious. They are probably all good until you have to make a claim and the hope for the best. The bigger insurers like NRMA are changing their policies and hopefully prices because they are losing market share. Still, I don't think they've changed enough to make it viable to insure a Z through them



#17 Cozza

Cozza

    Senior Member

  • Members
  • PipPipPipPipPip
  • 967 posts
  • Location:Sydney
  • Tagline:Datsun obsessed

Posted 20 August 2016 - 02:16 PM

Try NRMA veteran and vintage. Very competitive on price and offer similar cover to Shannons.
  • George, Bloozed and the red zed like this

#18 the red zed

the red zed

    Advanced Member

  • Members
  • PipPipPip
  • 30 posts
  • Location:brisbane
  • Tagline:For The Love Of Z

Posted 20 August 2016 - 05:39 PM

So many helpful info here. Thanks heaps guys...

#19 the red zed

the red zed

    Advanced Member

  • Members
  • PipPipPip
  • 30 posts
  • Location:brisbane
  • Tagline:For The Love Of Z

Posted 26 August 2016 - 07:29 PM

Finally managed to get the old girl insured at 45K with NRMA VVC - Veteran Vintage Classic for $500. Basically after few photos & touch base on the current local & international market price ball park with the underwriter, It's half a job & finally It was a done deal!! On the other hand I was disappointed with Shannons that only willing to cover for 30K max even though they are my first choice.. NRMA offers same if not better deal than Shanns


Try NRMA veteran and vintage. Very competitive on price and offer similar cover to Shannons.



#20 gav240z

gav240z

    Administrator

  • Administrators
  • 12,662 posts
  • Website:http://www.viczcar.com
  • Location:Sydney NSW
  • Tagline:Jack of all trades, master of none.

Posted 26 August 2016 - 08:31 PM

Shannon's would go higher IF they inspect it for themselves...Usually they won't go higher unless they've seen it in person.




0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users