As in insurance providers. I have used shannons and lumleys previously but that was for more normal sports cars as opposed to exotics. I understand some have a limit of 10k km per year? Do any tell the difference between drivers, collectables that don't hit the road and restoration processes? Do any insure track days? Does this make a difference between open days, going through an organised day like John Bowe racing or hiring the track out yourself? Are there any issues when you have heritage plates/25 years old/club plates?
From my experience- I insure with Shannons, have been with them the last 5 years. I pay $1577 per annum and this includes a 'free glass replacement' including tint. Any glass on the car, but only one per year is replaced if needed. Agreed value for my car also included in that premium I pay. They wanted some pics of the car at the time to see that it was not damaged and to ensure the condition was excellent which I said it was. They were happy to insure it for my agreed value after seeing the pics of it. I had the option to be a daily driver, limited driving or very limited driving. I went with the very limited driving as the guy explained this. He said driving the Ferrari at least once per week is classed as very limited driving. I laughed and told him that I drive the car once every few months if I was lucky. There is no set km's limit for the year he said and no log books to filled out each time either. They trust I do the right thing he said in regards to choosing the very limited policy. There was not much difference in price in regards to selecting my Ferrari as a daily driver or limited driving. From memory it was under $100 difference to have it listed as a daily driver. But it's not, so it's listed as a very limited driving policy. That is how I am insured with the 348 man, sorry I can't answer any of your other questions.
Thanks heaps for the answer. I was with Shannon's and they were fine but the premiums went up 50% for me when they changed ownership so I went with Lumleys. But from what I understand neither insure track days so I'm looking around for someone that might. Also if you bought an f50 or enzo in oz, has anyone had experience insuring them as a collectible? Once again if you took it down to the track on a truck is it still insured etc? I'd appreciate even companies that you may have heard of, not actually experienced so I can do my ringing around.
Bloody hell!! When was that? I was with Suncorp for the first 5 years or ownership. I was paying $1530 with them, then one day I go to renew my policy and it had jumped to $2400 in 12 months. I was wild about it and was not going to call around. But the woman on the other end talked me into staying with Suncorp. I thought bugger it, what's another $900 a year for it so I paid via Credit Card over the phone. A mate came over 30 mins later. I stewed on it the entire time and told him, he said I was mad and I should call around. I said **** it, you're right! $900 extra per year is nuts! I then called Shannons, first company I called and went with them for $1577. The premium has not changed in 5 years with them which is good.
I have been with Shannons since the late 80s and have and all my cars, 456 OVLOV, Suki, Workmate and project car which is only LayUp insured with Shannons. When you have more than 5 cars there is a discount, for every decade of the cars age there is also discount.
Shannon's insure us 360 $1300 for $125k 2003 supercharged Monaro $750 for $45k 68 Monaro $450 for $80k But the worst... 2007 Ford Focus xr5 $750 for $13k
My GT4 is with Shannons the premium of $588 for 55k cover hasn't changed in 9years. But my postcode & age probably helps. It includes cover for Defensive Driving Courses.Track Days probably aren't.
I have been insured with Shannon's for close to 10 years for a variety of exotics and everyday cars. Once you have more than 6 cars insured you qualify for a fleet discount so it might be worth consolidating policies. Some observations: Cars on Historic plates are cheaper to insure ( I moved a car on to Historic registration and Shannon's refunded part of the premium) Vehicles not being driven (ie laid up, off the road for repairs ) are cheaper to insure. For everyday cars, the price depends on usage - they will ask how frequently you drive a particular car. Claims handling has been very good for both exotics and everyday cars, Shannon's have been really good to deal with. The only hassle has been getting them to increase the sum insured on the cars that have risen in price, they are behind the times with market prices and would only insure to about 70% of what I think the replacement cost would be. M
Lol Probably more likely to do with my less than pristine driving record. But if that's the case, moretti must be paying more in premiums every year than his car's worth?! I'll have to check it out as it's due for renewal in a few months. Will also have to up the agreed value to a more realistic $250k.
Good God man, mine's got a proper gearbox !! Makes it double the price of yours The "F" in F1 box means "flaky" for 355s
True. I'm going to call and ask why I'm paying so much more before it's due for renewal. Do you mind saying how much you're paying, and how much it's insured for? PM if you like. Do they also charge more for hot rods?
Long term client with no claims in the last 10 years ..... you're obviously a risk with that import and F1 'box
Me too, paying $1577 for $115K for the 348. Must come down to age and location, surely. And previous claims obviously. But it still makes you wonder. I am 35, never had an accident that was my own fault or made an insurance claim in 18 years of driving. Last traffic offence was in 2009 for speeding over taking a car on the highway. Crazy thing also is, not too many cars get stolen here either. So I don't understand the 'location' thing in insurance policies. If it's a known crime suburb etc, no worries I get it. But if they look up the data/claims for this small hick town, they would see not much goes on here in that regard. It's all good, I am happy to pay $1500 for it. Hopfully it does get much more expensive than that......
Hells Teeth!! I AM being ripped off! There's only two things that can happen from here: either my premium will go down, or yours and moretti's will go up. I'm not sure which would make me laugh more.... Note I've been very gracious and not mentioned the ludicrous amount your car is insured for...
