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the red zed

240Z Current Insurance Values

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I've always been happy with Shannons and NRMA. Went with Shannons for the Z.

 

What I also like about their policies is that they go up by 5% automatically each year. Nowhere near enough to keep up with the market but it's something. Their knowledge of classics is top notch as well. Everyone I've spoken with while getting various quotes has been up to date themselves. It's like talking to an enthusiast.

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A couple of comments:

 

I just transferred from Shannons 'laid up' to Famous comprehensive. Although the car is not, as yet, registered I am using Unregistered Vehicle Permits for shake-down drives.

 

When they state they will pay either agreed value or market value they don't have the discretion as such, it simply means whichever option you agreed to when taking out the policy.

 

Famous give you the written off car back if it is over 30 years old.

 

They were much cheaper than Shannons. $650 for $70k agreed value. I sure my 'mature' age and possibly location were factors - along with my handsomeness.

 

As far as inspecting the car goes, i was simply able to direct them to my build thread and they had no issue with the agreed value. This is something to bear in mind when creating and posting on a build thread, i.e. what would the insurance company think of this? A bit like potential employers looking at your facebook site!

Edited by PeterAllen

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When they state they will pay either agreed value or market value they don't have the discretion as such, it simply means whichever option you agreed to when taking out the policy.

 

 

 

Not so much a problem with "enthusiasts" insurers such as famous or Shannons, but very careful about this and check the PDS for your policy, especially for your daily that you might have through one of the cheaper companies like Budget or Colesworth.

 

Some policies will have the payment being either market or agreed value, whichever is the lesser, so you maybe paying extra to receive less money.

 

Only insurance advice I have, after having great service from some companies and abysmal service from others, is check the PDS very carefully to make sure the policy suits your needs and don't shop on price alone, and also be very aware of the lazy tax.

 

I always get a few comparison quotes each year for all my cars to see how my insurers compare price wise to the market and see if I can get a better deal from them without the hassle of changing everything over.

 

Also look at using an insurance broker. I use a broker for my business insurances and got them to look at car insurance for me to see if they could do a better deal. For my situation and cars, I could get a slightly better deal myself, for someone else it maybe very different.

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Insurance time for me.

I have received quotes from NRMA (VVC), Shannons and Famous. With the recent hike in value, I decided my agreed value should be $55k which is currently the lowest priced Z on Carsales.

NRMA weren't interested in that agreed value so they are now out of the picture. They did suggest i send some pics but i have been with them for 6 years with no claims and I got the feeling they were not providing a good service so i'm moving on.

Shannons and Famous are similar in price at $449 and $425 respectively with excess at $300 and $400 respectively. They both offer full salvage rights at no cost and a free window per year.

The main difference is that Famous also offer track cover. $10k cover for $100 per track day with a $1k excess, covering damage caused by collisions only. Whilst its not a massive return and wouldn't cover a right off or general mechanical failures, it sounds like it could cover a reasonable collision.

 

I am thinking of going Famous and I was hoping you guys could provide feedback if you have had any good or bad experiences with Famous.

 

Cheers

Mick

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All Shannons policies are an agreed value, including daily drive, Shannonst offer repairer of your choice not the insurers choice of repairer, free windscreen claim each year per vehicle with no xs to pay front side or rear glass, 35 years of age and older have automatic salvage rights if your car is short of 35 years of age, salvage rights can be applied if you request, modifications can be listed so if a claim is made these mods are repaired or replaced, always read PDS do not listen to people's versions or experience.

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Thanks for your response Lynton, it sounds like you're in insurance cause that's just what they said :)

Shannons and Famous actually both offer all those benefits, where they differ is the track day insurance which seems to be exclusive to Famous.

I still haven't paid for it but I'm leaning toward Famous as I haven't heard/ seen a bad review yet.

 

Cheers

Mick

Edited by Cozza

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Just remember your insurance does not likely cover for damage to Armco barriers/railings poles etc around the race track check the PDS?

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The only place I have heard of that has charged for damage to the fencing at a track is the 'ring in Germany.

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Just remember your insurance does not likely cover for damage to Armco barriers/railings poles etc around the race track check the PDS?

No your right, it only covers damage to the insured car caused by a collision. The PDS is a bit sketchy on covering driveline damage caused by collision. I get the feeling they are really only looking at covering bodywork.

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