Insurance: What company, and how much?

This question was raised by Snickells, and was discussed on our old forum, and can be found here.

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Insurance, love it or hate it, its a must. Especially if your gona' go through all the aches and pains of importing from another county.
I thought it might be a good idea for all of us to list prices on quotes they have received from various insurance company's around Aus.

So far i have only talked with Shannon's and they have quoted on a 98 legnum with full comprehensive as a daily drive, $1100 per year.
Although, this is offered on a multi vehicle police with various discounts due to the house and contents on the same policy.

 

Alright seeing as the cars on the way i looked into this insurance business more, unfortunately my mate the Insurance broker can not help, all the companies didn't like the fact it won't be garaged.

Shannons said no, because it isn't going to be garaged at night, but also the fact i sometime have it on site at work they were scared it might get backed into or something.

So Justcars i called came back at $1141 per year, agreed value of $21,000 $1500 Excess if Stolen $1700 At fault accident, bit heavy on the excess i feel but not too bad a price i guess.

Thats for a 23y/o, Rating 1, 8yr driving history and no loss of license or claims

 

Seeing as my car has landed, I've activated my insurance with Shannon's.

Genelle said something about the price dropping once I turn 29, so I asked and got a very nice answer. Now it stands at $1090 per year, 20k agreed value, excess is $500, 28 yr old male with no claims or driving offences and it will be garaged.

When I turn 29, In like a month, my premium drops down to $850!

 

Thats not too shabby. I think my quote was around $1200 from Just Cars (27yo rating 1). I didn't think to call Shannons.

I went to a broker friend, and she couldn't get me any deals

 

Shannon's Insurance

$776.61

25yr old, rating 1.
Garaged.
Agreed value of $17,000

 

HOW? *laughs*

Here's mine with no driving offences, etc.

Super VR4 Legnum, agreed value of $16,000

Just Cars
$1060.00 30yo Rating 1 (no garage), postcode 3166
$1100 standard excess, $1500 theft excess.

Shannon's
$1043.00 30yo Rating 1
$500 excess

I do need the car to be garaged though (relatively high risk area) with Shannon's and I'm seriously thinking of BUILDING ONE next to the house since it'll be a long term prospect.

Sydo, how you got to $776.61 is beyond me. Nice work though!

 

Yeah it definately was a good price. The reason why it's so good is - at the time of the quote I already had two other vehicles insured with Shannons.

In real dollar terms, it'll only cost me an extra $36 a month (or $432p/a)!!

Brilliant really!

 

hmm I currently have my car insured with Shannons. When i got my quote i told them the gsr will be sold by the time i insure the legnum so they quoted me based on not having a 2nd car insured with them.

So maybe i should keep the insurance on the gsr (even if its gone), then get insurance on the legnum at $400 cheaper, then cancel the gsr insurance.

 

Good idea in theory.. They 'should' recalculate the Legnum insurance once you've gotten rid of the GSR however.

 

Was quoted $985 from Just Cars today....although it will change. I neglected a few things when I was taking into account the value of the car.

 

Shannons insurance agreed value $16000, No drivers under 40, sorry all you young people Quote 1998 legnum basic excess $500 under 25 nominated $400,not nominated $1500 and approved anti theft dev is fitted.

Torque motor policy $606.37,No drivers under 40 agreed val $16000 aproved anti theft device fitted. This was the best price most places won't insure imported vehicles

 

Hey guys just a reminder.. cheaper isnt always the best. As much as you wont want to.. read the product you are buying... TRUST ME!!!

 

Hi,

anything in particular we should be looking out for?

cheers

Lee

 

By far Shannons were the best when it came to customer service. And I also am led to believe that out of all of the places that insure imports when it comes to a claim they wont screw you as much...

Anyway that's who I'm going with...

 

If you are going full comp insurance. Make sure you get an agreed value. And if it is agreed value make sure there is no clause on there stating. ' Agreed value ofrmarket value, which ever is the lesser'... that stings a lot of ppl. As usually market is lesser and thats all you will get paid out.

Make sure they will cover you mods and get them listed on the policy, in doing this make sure that you increase you total Sum insured to cover the whole package in a total loss situation.

Also dont just look at the total premium, look at what it will cost you if you pay by the month etc.... sometimes it can be an extra $300.

Make sure what ever company you choose is an australia company and not an offshore company. I dont think offshore companys have to comply with australian standards.. ( dont quote me on that for all offshore companies)

The excess to pay can vary greatly between companies too. watchout for hidden xs.

Free glass cover is a good one too especially if you are covered for personal effects cover... ( mobile phone/cd's etc..)

Very few companies are authorised to give personal advise to you about their product so if can be hard to get a conversation with them. It really is up to you to look at what your buying...

It is hard getting good insurance for imports... companies know this and they charge for it too... it sucks!!!

 

You must have spoken with me then

 

Hmmm, looks like I'll have to build a garage or carport on a rental house.

 

does it really make that much difference if the car is garaged ?

will definately have to garage it then, tell me thou i live in a town with only 11000 in the whole area 25km's radius and yet some guys are talking about main city's and my quote is not much less if not more

shannons said
$1120 for comprehensive no garage and im 29 already
and i already drive a turbo car and have another imported car as well.

yet people 25 are saying they are getting better insurance

does anyone know, i have heard that shanons do contents and building as well should i move everything over ?

we just moved to elders because they did the Delica we have that is an import and no one else did, now elders said they wont do the performance import grrr

i hate insurance

 

Ahhh, ok I figured out why mine's so expensive. It's where I live. You see, anyone who lives in the postcode 3166 actually covers a few suburbs. Oakleigh, Oakleigh East, Hughesdale and Huntingdale.

That's THREE train stations, public car parks, shopping strips, etc.

So I'm in a high-risk area code, hence why Shannons cannot insure me unless I have a garage.

 

Shannons: $15k purchase price, $500 excess, youngest driver 26, garaged - $1335, if i bring crappy Excel over as well goes down to $1271. We currently have rating 1 with Suncorp on the Excel.

Probably high due to my post code, age of youngest driver??

Waiting on a quote from Just Cars.

cheers

Lee