Shay's Insurance Findings.

[Shay]

As some of you know i have been looking at upgrading/updating my insurance.
Today i contacted 10 companies, and have reported/commented on them, and will post it all here.

First my car details.
$6500, 1998 Holden Vectra JS GL 2.2 Automatic Sedan.
129,000 km

also im 19, license 2 years, live in a upper middle class suburb.

My Mods to tell them:
Stereo- 800 paid 1400 RRP
Exhaust- 720 (cat and back)
Suspension- 900
Window tinting- 350
17" Alloys- 1000 genuine replacement price.

heres my results:

RAC WA
Value- 8750
premium- 1278.85
excess- 350 (age extra 550)
all mods listed, covered, and included in agreed value.

AAMI
Value- 6150
premium- 1132
excess- 400 (age extra 500)
mods only taken into account after accident and only if you have receipts and photos.

FastR
won't cover if you've got lowered suspension.

Just Car
Value- 7500
premium- 1300
excess- 450 (age extra 650)
meant to include value of mods... sounds really low to me.
already insured with no listed mods for 6500 atm.

QBE WA
declined because i have to many mods for my age (lol as if you can have to many)

ING
value- 9600.33 (much better price)
premium- 1386
excess- 300 (age excess 600)
modification excess- 1000
i thought the modification excess was strange, but its actually pretty cool.
if any of my mods die. or cause harm to my car, they are covered, annd replaced.
if in an accident and the mods are killed, replaced for standard excess if im at fault.
thinkin i might go this way.

Shannons
value- 8000
premium- 1046
excess-300 (age extra 400)
yes they do insure under 25's
ask bulk question about you,
member of club(s) or forum(s)
carting, draggin, racin, 4wd'ing
subribed to any auto magazines...
but won't consider raisin Agreed Value until i add more mods.

SGIO
value- 9500
premium- 1438.22
excess- 500 (age extra 650)
how they cover mods but dont care what they are,
they said to me, how much you value them, and they said, k market value plus that.
will cover damage to them in crash, but not to sure how it works if they don't know what you have.

so as reference i got them to value my car at current value (6500)
premium- 1226. extra 200 bucks def seems worth it for the extra 3000 of cover.

Allianz
wont cover me coz my lowering wasn't "certified"

Budget
only got as far as stereo. LOL
said had to take them out to get covered.


hope you get some info from this.
*** NOTE *** will not be the same for everyone. just as a reference.

[mania]

Thanks for that! Shannons was surprisingly competitive for a 19yo.

[SKM_87]

good price for shannon, try CGU

[hazrd]

told u shannons was good

also note this (would be good for u too pete)... if u get home and contents insurance with shannons, they give you a free $10,000 car enthusiasts cover. So anything in your garage is covered upto 10 grand, with no excess, just for having car + home contents insurance :D

[poita]

hmmmm interesting adam

will ahve to look into it, cause our insurances have all gone up.

we have 2 cars + home + contents all with same mob.

[hazrd]

its really worth it... if anything were to happen to any parts/tools/etc relating to the cars on your policy, they are all covered

[Shay]

its really worth it... if anything were to happen to any parts/tools/etc relating to the cars on your policy, they are all covered

that only if your house is ensured with them too?

[hazrd]

that only if your house is ensured with them too?

well we are renting so we only took out the contents insurance only, but when we buy we will def be gettin the home aswell

[Vampire]

Try HBF, they're generally good (to me anyway).

[poita]

Famous agreed value $8k on the cally, including all mods
stereo for $1k.

said they would send out an assessor if i wanted to insure it for a higher value

[Brazza]

Lately I've been considering changing my insurer as the one I am currently with, I am with because my parents are with them and I was a noob when I set it all up. So far I haven't had any problems with them (also no accidents lol) but they seem reluctant to insure me with anything beyond visual modification...

Thanks for the list shay should be very handy when I finally decide to get off my arse lol.

[hazrd]

Famous agreed value $8k on the cally, including all mods
stereo for $1k.

said they would send out an assessor if i wanted to insure it for a higher value


that sounds good... but were u wanting to insure higher?

[poita]

yer i want to insure it for higher Adam

so wen i get it back i will get someone to look it over

[gmonkey]

just insured my car with RACwa for $869 pa

07 Astra coupe manual, 21 year old male, no accident history, non member, 50% no claim bonus..

found that was fairly cheap compared to others like sgio and justcar and gio didnt want to touch me.. didnt try shannons but probs shouldve..

[kirssn]

told u shannons was good

also note this (would be good for u too pete)... if u get home and contents insurance with shannons, they give you a free $10,000 car enthusiasts cover. So anything in your garage is covered upto 10 grand, with no excess, just for having car + home contents insurance :D

I think the Enthusiast cover requires some clarification.....

It's $10k cover but it is restricted when you make a claim - you can claim up to $10k in enthusiast cover with a maximum of $1000 per item, set or pair....

which means that in my instance the come racing heads that we have sitting in our garage are not completely covered under shannons enthusiast cover as they are worth more than $1k as a set.....

[hazrd]

unless you declare it ;)

[kirssn]

unless you declare it ;)

Duty of Disclosure.

[EL BURITO]

just insured my car with RACwa for $869 pa

07 Astra coupe manual, 21 year old male, no accident history, non member, 50% no claim bonus..

found that was fairly cheap compared to others like sgio and justcar and gio didnt want to touch me.. didnt try shannons but probs shouldve..
just wait till you want to modify the car, they are not the kindest

[mania]

just wait till you want to modify the car, they are not the kindest
They've allowed me a 1.9cdti airbox, sound system, remap (quoted 10% increased peak power) and a rarb at no increased premium?