240Z Current Insurance Values240z insurance
Posted 16 August 2016 - 08:16 PM
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
Posted 16 August 2016 - 10:03 PM
- gav240z and TDoherty like this
Posted 16 August 2016 - 10:49 PM
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.
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
Posted 17 August 2016 - 10:29 PM
- the red zed likes this
Posted 18 August 2016 - 08:34 PM
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.
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.
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.
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.
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
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
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
Posted 20 August 2016 - 02:16 PM
- George, Bloozed and the red zed like this
Posted 26 August 2016 - 07:29 PM
Try NRMA veteran and vintage. Very competitive on price and offer similar cover to Shannons.
Posted 26 August 2016 - 08:31 PM
0 user(s) are reading this topic
0 members, 0 guests, 0 anonymous users