Insurance....merged Topic....

[qik1]

Well since I paid my last insurance premium which was/is with Just Cars I've turned 25 so I'm guessing there will be a pretty reasonable drop. I've been payin $1200 a year or about 750 for 6mths which I opted for last time because I was in the middle of a string of pricey mods & testing plus I was turning 25 not long after I paid the premium so I didnt want to pay more than I needed to. It's just about time to pay it again im pretty sure because rego comes at about the same time & its just turned up. For those that can remember what type of decrease in premiums did you see when you hit 25? I live in a small town so I spose its classed as a low risk area but the cars pretty heavily modded so hopefully this doesnt work too much against me in getting a descent decrease in fees.

[smoke]

aami have got my bf xr6t insured for $26k (bought it for $22k).

it costs me $871 a year, full comp and when I turn 25 I can do any mods I like provided I tell them and they're legal.

I'm also a rating 1 for life if I dont make a claim this year and I have a free windscreen per year that wont affect my excess or rating.

I'll be taking them up on that, theres a nice chip in it.

Edited 19/01/09 09:45 AM by smoke

[hanra]

Ive had all 3 of my cars insured with Shannons for almost 2yrs. Ive no accidents in that time and no dramas with Shannons. My policy with them was $1003 p/a.

Out of curiosity I decided to get a quote from Lumley Special Vehicles for the same 3 cars.

They quoted $929 p/a with the same amount of cover on all 3 cars, there policy seems the same as Shannons in terms of features and benefits.

I emailed Shannons and supplied them with a copy of the quote from LSV, and advised I was considering going over to LSV with all 3 cars based purely on there cheaper price and similaritys in policy.

I was a bit surprised with the response I got from Shannons.....

Here is there answer:

Hi,

Shannons doesn’t make a habit of trying to beat our competitors prices.

If you are happy with the cover they are offering and the price you have been offered then do what you need to do just let us know prior to renewal so we can stop taking any instalments and close the policy.

Regards

[nathen]

mate try ringing them I would be very very suprised if they dont change there tone..I was in the same situation and they beat the other competitor.probably a reply from india.lol

[TURBO4LT]

Looks like they don't need you business

[Iconic Bionic]

That was there reply without any excuse. I mean usually you get, "Well our policy is better then theres and so we have to charge more" I would expect.

I.B.

[CJ_AK]

yeah call them mate, they will change their tone quick smart

[hanra]

I honestly expected them to call me!!! I was very very surprised with that response!!!

This was my email to them.

Hi,

I have a current Insurance Policy with Shannons, Policy Number SCM00XXXXX.

The total of my policy comes to $1003.47. Out of curiosity, I got a quote from Lumley Special Vehicles for the same 3 vehicles. There policy is $73.69 cheaper then Shannons and appears to offer the same features and benifits. Is Shannons able to match this price, as I am considering insuring my 3 vehicles with LSV purely based on there cheaper price.

Ive attached the quote to this email also.

Regards,

[TUFXRT6]

unfortunetly insurance companies will now have to revert back to making a profit off insurance premiums so Shannons may not be able to continue to under cut premium prices.

Over the past few years large insurance companies have been making profits off the underlying investments, not off the premiums necessarily. This has obvisouly changed over the past 12 months so expect insurance prices to rise to compensate.

Regards

TUFXRT6

[SCRIBR]

Lease cars FTW