Shannons MV Insurance

[DavidH]

I'll try to be polite but OH MY   . We've got the Kombi & 2 daily drivers with them. Daily drivers are 2005 & 2009 well worn vehicles. Kombi insured for $51k... their value. Premium $484.52 .095% of insured value. Jap & Korean vehicle 4k & high 5k insured value. Premiums $703.55 & $966.55. Eye watering . Actually comes to 16.95% of insured value as a premium cost for both vehicles!!! Odd it's the same %. Rang them & was told Suncorp had repriced their product.

A 25% increase in premium with a 7% reduction in insured value. 32% price movement in one year!

No claims on any vehicles in all our time with them.

I'll keep the Kombi with them due to salvage.

Went with GIO for less than half for both premiums.

Not Cheers

[Grantus]

Had the same increase with our Shannons latest offer. Appears they are no longer interested in the “daily drivers” anymore. (Or very interested, if you just pay the price, and don’t shop around.)

PIA, but if you don’t shop around, you pay the “lazy tax”, of just renewing with the higher premiums.

Prior to Shannons, I had 7 policies with NRMA, and the “loyalty discount”. Turned out, I was just loyally paying them too much money! 

[ruby6689]

We have our daily’s with Youi, the cheapest for us but you have to ring them every year and ask for a discount on their premiums as they tell me ‘a computer just generates your renewal’……. How ridiculous but the difference is significant.

The Kombi’s I moved from Shannon’s to NRMA Vintage and Veteran when we moved to QLD as Shannon’s were way too expensive once we no longer had Historic rego. We have just managed to get ‘Special Interest’ rego so I’ll be doing the ring around when insurances are due.

The real rip off is our Motorhome insurance, very few companies offer it and as a result there is very little competition and our premium is over $3000 a year………more than our home and contents combined!

[Barry]

I tried to get my T3 tin top on NRMA Vintage and was told it was “only” valid for cover on club sanctioned runs. 
It did not cover “general travel”

[Tintop]

The real rip off is our Motorhome insurance, very few companies offer it and as a result there is very little competition and our premium is over $3000 a year………more than our home and contents combined!

try CIL for the motorhome... less than half the price of nrma for our sprinter (also have the Kombi with them)

[Alpal]

One question I ask myself is the cheapest the best? We only find out when we make a claim if the insurer is OK.
Often the insurer we deal with is just a wholesaler and the policy is underwritten with someone else.
Our RACV claim some years ago was processed by NRMA?
Be good to get feedback on how it goes with claims.
The RACV/NRMA claim worked out OK with just a little confusion and time.

[grumble]

Just to add another opinion to the Shannons can of worms -- the lifetime warranty on repairs authourised by Shannons is not worth 2 knobs of goat s.... A claim for a bad repair was dragged on for over 2 years with a million excuses why the repair wasn't covered- such as microbes moved across the scratches in the floor pan to the other side of the vehicle and rusted it from the inside. No inspection was carried out just excuses and b...s..t. The moderator at AFCA tried to strike a balance but over rode the quote to repair the faults from the previous repair to a lesser value of around $10,000 less. Being an independent body (like all Govt departments) is not worth 2 knobs of ..... either. Then it became an ultimatum. One day when the dirty mood passes I may  tell the story of the debacle.
Sorry people but it gets to you sometimes. 

[Grantus]

As to the two comments above, you never know how well any insurance company will pay in the event of a claim, until it happens, no matter how much they charge for premiums.

And then it comes down to the workmanship of the repairer, whether your preferred panel beater, or the nominated one you have to use by the insurance company.

As far as workmanship guarantees being honored …. I’ve rarely seen a positive outcome.  

[DavidH]

Insurance industry is HUGE with lots of dollars to fight/pay . We give our premiums in good faith . 
It's a pity they don't operate that way  .

I've seen how insurance industry brought about change in building codes when the top end of town Government couldn't/ wouldn't...insurance industry started to hurt thru inboard overflow claims from hi front gutters. Money talks all languages....even to governments! Ended up with most property inspectors citing it as "a problem" on your property inspection.

My emoji night to avoiding  swearing  .

Cheers

[DavidH]

[Being an independent body (like all Govt departments)]
Yeah.....right  .
Cheers