the red zed Posted August 16, 2016 Share Posted August 16, 2016 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 Quote Link to comment Share on other sites More sharing options...
chris240 Posted August 16, 2016 Share Posted August 16, 2016 $25-35k Quote Link to comment Share on other sites More sharing options...
Zedstar Posted August 16, 2016 Share Posted August 16, 2016 $40- $50k closer to mark. TDoherty and gav240z 2 Quote Link to comment Share on other sites More sharing options...
Administrators gav240z Posted August 16, 2016 Administrators Share Posted August 16, 2016 $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 Quote Link to comment Share on other sites More sharing options...
the red zed Posted August 16, 2016 Author Share Posted August 16, 2016 That's so good to know gents...cheers! Quote Link to comment Share on other sites More sharing options...
gilltech Posted August 17, 2016 Share Posted August 17, 2016 (edited) 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 August 17, 2016 by gilltech the red zed 1 Quote Link to comment Share on other sites More sharing options...
Retro Z Posted August 17, 2016 Share Posted August 17, 2016 Just got mine insured for 45k agreed value last month for $600 annual premiums with shannons. the red zed 1 Quote Link to comment Share on other sites More sharing options...
the red zed Posted August 18, 2016 Author Share Posted August 18, 2016 Thank you so much gents... U guys been very helpful ... Quote Link to comment Share on other sites More sharing options...
zedls1 Posted August 18, 2016 Share Posted August 18, 2016 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 Quote Link to comment Share on other sites More sharing options...
PZG302 Posted August 19, 2016 Share Posted August 19, 2016 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. Quote Link to comment Share on other sites More sharing options...
AndBir Posted August 19, 2016 Share Posted August 19, 2016 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." Quote Link to comment Share on other sites More sharing options...
Administrators gav240z Posted August 19, 2016 Administrators Share Posted August 19, 2016 And that for me is a pretty big difference! Quote Link to comment Share on other sites More sharing options...
AndBir Posted August 19, 2016 Share Posted August 19, 2016 Given the price of parts even if the vehicle was unable to be economically repaired then the breakup (parts) value could be high. Quote Link to comment Share on other sites More sharing options...
PZG302 Posted August 19, 2016 Share Posted August 19, 2016 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. the red zed and AndBir 2 Quote Link to comment Share on other sites More sharing options...
Riceburner Posted August 19, 2016 Share Posted August 19, 2016 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 1 Quote Link to comment Share on other sites More sharing options...
EJ101 Posted August 19, 2016 Share Posted August 19, 2016 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 Quote Link to comment Share on other sites More sharing options...
Cozza Posted August 20, 2016 Share Posted August 20, 2016 Try NRMA veteran and vintage. Very competitive on price and offer similar cover to Shannons. George, the red zed and Bloozed 3 Quote Link to comment Share on other sites More sharing options...
the red zed Posted August 20, 2016 Author Share Posted August 20, 2016 So many helpful info here. Thanks heaps guys... Quote Link to comment Share on other sites More sharing options...
the red zed Posted August 26, 2016 Author Share Posted August 26, 2016 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. Quote Link to comment Share on other sites More sharing options...
Administrators gav240z Posted August 26, 2016 Administrators Share Posted August 26, 2016 Shannon's would go higher IF they inspect it for themselves...Usually they won't go higher unless they've seen it in person. Quote Link to comment Share on other sites More sharing options...
the red zed Posted August 26, 2016 Author Share Posted August 26, 2016 (edited) Shannon's would go higher IF they inspect it for themselves...Usually they won't go higher unless they've seen it in person. I've sent them pics of the car & that's what they came back to me..it could be well got to do with the resolution as I sent with large instead of actual size through me mobile.. Edited August 26, 2016 by the red zed Quote Link to comment Share on other sites More sharing options...
Cozza Posted August 27, 2016 Share Posted August 27, 2016 Shannon's would go higher IF they inspect it for themselves...Usually they won't go higher unless they've seen it in person. Shannons viewed and quoted my car at the the Kurnell hot rod car show and wouldn't meet what NRMA was already insuring it for. That was a few years back now and I can't remember what the offer was but I remember being a little disappointed with Shannon's offer of maximum insured value at the time. Glad you got it sorted though. Mick Quote Link to comment Share on other sites More sharing options...
Riceburner Posted August 27, 2016 Share Posted August 27, 2016 Shannons do vary with there pricing. I've had mine inspected a few times now and it depends on who you have. Most times when a few people come out to view it the outcome has been good. Quote Link to comment Share on other sites More sharing options...
the red zed Posted August 30, 2016 Author Share Posted August 30, 2016 Thank you so much gents, might give Shannons a go next year Quote Link to comment Share on other sites More sharing options...
theremm Posted August 30, 2016 Share Posted August 30, 2016 (edited) I also can highly recommend Shannons. I made a claim through them about 1 year ago (for about 7-8k from memory) and the whole process was really easy and no dramas. Not too many questions either. Shannons also give you choice of repairer which makes a massive difference because you will no doubt want to go to a good body repair shop and their hourly rates are much higher ($90/hr +) than the $50/hr which other volume insurance companies will base their comparison repair quote on. In those circumstances you will be forced to cover the difference in the hourly rate out of your own pocket, if you want to use your own choice of repairer. I also had to purchase some replacement second hand parts off eBay; given the scarcity of parts the prices were much higher than I would prefer to pay if I were shopping around patiently for second hand parts however because of the urgency of the repair I paid the more expensive prices and was reimbursed for sourcing the parts myself, no questions asked (just receipt proof). Had a few frustrations with the external inspectors who they contract through but I assume that is probably same everywhere. I also need to increase my agreed insurance value!! Currently 15k for my 240z...however this was reasonable about 1.5 years ago :S Edited August 30, 2016 by theremm Quote Link to comment Share on other sites More sharing options...
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