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Good point and post Clint... a lot of people may have set and forget the insurance over the years.  

 

I found Shannon's very good overall, and extremely fair on the agreed value.

 

I think most if not all clean 240z's should be well over the $50k mark for agreed value. 

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I'd suggest you get a quote from "Famous", I found them much cheaper than Shannons.

 

Also, the way it was explained to me and now I read their policy, you get the car back in case of a write-off. 

 

They're probably worth a call, as may other insurers.

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I'm with Enthusiast Underwritings.

http://enthusiast.com.au/

 

I've had nightmares getting the FD RX-7 insured in the Inner West of Sydney. Shannon's won't do it for under $2k p/year.

 

I recently updated my policy on all my cars and increased their values. I overstated their values also because it's easy to underestimate total cost to replace something.

 

My 72 240z is now up to $45k, even though the car isn't perfect, if I found a rough 240z for $30k I could easily sink $15k into it and not be at the level of my 72. Hence I try to insure for total replacement value.

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RACV Classic and Veteran is excellent value and includes the premium level of RACV roadside assist... Extra Care or whatever it is called.

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I'd suggest you get a quote from "Famous", I found them much cheaper than Shannons.

 

Also, the way it was explained to me and now I read their policy, you get the car back in case of a write-off. 

 

Pretty sure Shannons lets you keep the car after a write-off as well, unlike most other non-'enthusiast' insurance companies. I have honestly never heard of Famous but I will give them a look around renewal time.

 

@gav240z, my mate was knocked back by Shannons in 2013 insuring his FD RX-7 in Melbourne because he parked it in his driveway instead of a locked garage. RACV covered him. Four days later his car was stolen from his driveway and never recovered. Shannons obviously knew the risks better than the RACV.

 

I had pretty much the same scenario with my 300ZX TT a few months later - knocked back by Shannons, insured by RACV. Car was broken into within first two weeks but luckily the immobiliser did its job.

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RACV Classic and Veteran is excellent value and includes the premium level of RACV roadside assist... Extra Care or whatever it is called.

 

That sounds pretty good. I signed up for Extra Care recently after the Z started having intermittent electrical issues. Haven't had to use it yet, fingers crossed.

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@gav240z, my mate was knocked back by Shannons in 2013 insuring his FD RX-7 in Melbourne because he parked it in his driveway instead of a locked garage. RACV covered him. Four days later his car was stolen from his driveway and never recovered. Shannons obviously knew the risks better than the RACV.

 

I had pretty much the same scenario with my 300ZX TT a few months later - knocked back by Shannons, insured by RACV. Car was broken into within first two weeks but luckily the immobiliser did its job.

Yeah mine is garaged safely but it was already stolen once when I lived in Ireland, but I recovered her and restored her after the damage the pricks did to it. Funny thing is it was parked around the back of where I used to live so nobody could see it from the street. Then it was left in the neighbours driveway for 3 days whilst the driveway was being re-done and that was all it took to get it stolen.

 

Now I never let it out of my sight. I recall a couple of years ago there was lots of FD RX-7's being stolen in Victoria and NSW and I recall a few never got found. Probably sent out of the country in a container :(.

 

So I somewhat understand Shannon's position. Even the guy on the phone had a laugh when I told him it has already been stolen once. He said "well there ya go!".

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Yeah I beefed up my insurance ( with Shannons) in November from $27k straight to $40k..

I just need to work a better deal on my home and contents now, jeez they dont miss you..

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Hi GUYS

Hope all is heading in the right direction for all the fellow Zers out their for 2018 WOW

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Part 2 the fingers looser than the brain anyway typo from above - WOW -  seems very weird to be typing 2018 - Happy New Year to everyone! - but it happens every year that typing the new date seems so wrong - anyway my beast is in that $30k bracket as well with Shannons so if you have a clean mean rust free machine thats what they are worth - they are irreplaceable after all  I think 90k could be the upper envelope in the future - you could buy a new MX5 $30k + but that would be really boring in comparison !!!! AND it would only depreciate.

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I just renewed my Laid Up cover with Shannons but increased it from $25k to $40k

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Yeah I beefed up my insurance ( with Shannons) in November from $27k straight to $40k..

I just need to work a better deal on my home and contents now, jeez they dont miss you..

I have just moved my home & contents to Shannons as well, saved about 45%.

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Peter, Ive got home and contents with Shannons ATM but suprisingly Nrma is cheaper..for me anyway.

That is really interesting, NRMA wanted twice what the Shannons premium was.

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Don't forget you can't really compare premiums with premiums for different people due to different risk categories and circumstances.

 

With any policy, check that the PDS meets your needs and remember that the real test of any insurance policy is not the price, but how they handle any issues with your policy, especially claims.

 

Personally, I have everything but my work ute with Shannons, so that is house and contents, with some specified personal items tat bumps any premium up and some companies won't cover, as well as three cars and a motorbike.

 

I am happy with Shannons at the moment, theye have been great for a one crash claim and a couple of windscreen claims, haven't had to make a house claim yet, touch wood, but if I feel I have been stuffed around, I would move to someone else.

 

Also each year at renewal time do a check of other companies to see if you are being hit by the lazy tax.

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Recently upped the Z's insurance from $12k to $25k or so. Still under iMHO.

 

On a side note, mate has Shannons home insurance and had a tree fall and demolish a portion of his house during the actual race at Bathurst. 

They have been pretty good and fair to deal with. So have kept their good reputation on major claims, $200k+

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I hadn't heard of Famous insurance before but today, I received my Cams licence renewal forms that had a Famous brochure enclosed.

I notice they offer track car cover, I've not seen this before.

No idea what it actually covers though.

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Generally track cover is for a maximum value as specified by the insurer which is independent of the vehicle value, can be around $15,000 for some policies, but as with any insurance check the PDS to see what the exclusions and requirements are.

 

I know many years ago you could get one off track insurance, perfect for buying a drive or leasing a car for a one event. I had the opportunity to buy a drive at the first Bathurst Super Tourer race in the early/mid 90's in a back marker car, but the cost of the insurance for the event for me was almost the cost of buying the drive so I was a few dollars short in the budget needed, put a potential $15k weekend up to over $30K for $25k coverage, only payable for a total loss. 

 

Thankfully it looks as though track insurance is a bit cheaper, but coverage looks to be similar for what they will pay out on and the payout limits.

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I have my laid up insurance with Shannons.  Even after sending them photos etc to show the rust has been repaired  the max they would insure me for is $35 k...........  I'll look at getting them to re-assess once it's roadworthy.

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I have my laid up insurance with Shannons.  Even after sending them photos etc to show the rust has been repaired  the max they would insure me for is $35 k...........  I'll look at getting them to re-assess once it's roadworthy.

 

Could be worth a look at Famous. I switched to them not long ago and they were immediately happy to increase the value beyond that which Shannons was prepared to, without photos or inspection.

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