Aus Delivered 360 Insurance with Shannons

I think they're trying to tell you to wake up to yourself

Interesting though, perhaps they think the market is softening. IMO the market is not hot, viz the number of Ferraris on carsales now vs 18mths ago. About 18 mths ago, they increased the cover on my UK delivered 575 to $240k over the phone without any hesitation from $140k. I'd take it in and talk to them, reasonable chance you spoke with someone that wasn't au fait with Ferraris

 

I have mine insured with Shannons exactly for $130k, yours should be valued higher.

 

Adam I have all my cars with Shannons. They did $140K over a year ago agreed value over the phone. Can't see why they wouldn't do what you are asking......Mine is a Pommy car with black carpets..If the carpets were red I could have got more...;-)

 

My UK 328 GTS is insured for $160k with Shannons,,,
it was insured for $110 when I first bought it 8 years ago but I increased the value 2 years ago and did it over the phone with no problems,,I think it helped that they had sold a UK 328 GTS with higher milage and in rougher condition for similar money at the time..

 

Something seems a little off there I think Adam.

With one phone call to Shannons two years ago I also lifted the insurance value $75K on my Ferrari from $5K to $80K.

 

Just tell them there are people here with the 360 that have their cars insured for more.....Surely that sets a precedence.....

 

I had a different experience; I got my UK-delivered 360 2001 F1 and about 22,000 miles for $170k with them, but I had to insist, they wanted to drop it to something like $130k at the beginning of the year (February/2017). However, the person on the other side of the phone said they would do this only once, and that next year they would adjust the amount for whatever they felt it was the correct "market value" of my car. Which is *********.

 

Have my UK 360 for $130k with Shannon's .On renewal they tried to drop it to $110K. Had a few choice words with them and back up to $130k.

The rep on the phone said if I wanted it insured for my I would have to send in detailed photographs and they would decide if they needed to inspect it.

 

Definitely yours would worth a lot more. Worth calling again and maybe you’ll get another person with more idea about the manual market

 

Yes indeed.

Shannons said I could send in some pics and insure my 348 for another $20K more if I wanted to.

I said "that sounds great, I will do that".

But he then told me the premium goes up another $270 or whatever it was per year for that extra $20K, so I said bugger that lol.

My premium hasn't changed with Shannons in around 7 years now, but they insured my 348 for another $75,000 more.

 

My 355 1995 stick shift was $130k and they increased it to $165k this year. Car came from Hong Kong.


Sent from my iPhone using FerrariChat

 

coming back down to $50k any minute now

 

That does sound a bit crap, Adam.

If you can’t get any satisfaction have you tried Dawes?
I had my car with them for a couple of years before moving it to Shannon’s. They seemed ok.

 

Give Lumley Special Vehicles a call. I was with them for years. They are good and should insure it for what you want. Then go back to Shannons.......

 

Hi Adam,
I just bought a 2003 red/tan F1 360 with only 9000kms which is like new, and Shannons gave me an agreed value of $175k which is what I paid for the car. It is a limited kms policy which allows me 2 drives a week which is perfect (Don't know how they monitor this). This was only organised 2 weeks ago so I am surprised by your situation given the rarity of your car, colour combo.
Kim

 

just to add to the debate.. i have my UK 2003 argento/nero manual spider with AAMI (50,000km).. It used to be at $120k agreed value but this year (June), the max they would insure it for was $114k. I did shop around including Shannon's, but increasing the market value to $130k was going to cost over $1000 extra in premium.. Hardly worth it I thought... so as usual, I partly self insure... I won't be happy if it bursts into flames.

 

We tried Suncorp up here in Qld for a comparison but they would not go above market value which was $110 or $120k

 

I had Horse insured for over 20 years with Suncorp for $100K, then one year they decided it had to decrease by 10% every year. I told them it was more likely to increase than decrease but they wouldn't budge, so I left and went to Shannons. They had no problem increasing it to $150K a few years later and then $200K a couple of years ago. I've had one claim when a kangaroo jumped into the side of it and they were very easy to deal with.

 

I'm surprised AAMI would provide insurance for a Ferrari. Do they give you a choice of repairer?

 

+1,

I insured my car with Suncorp for $1577 back in 2005. Was very happy to pay that and I was very happy to be a customer for life like my Mum and Dad. They have been with Suncorp for longer than I have been alive.

One day around 6-7 years ago, Suncorp decided to lifted my premium to $2400.

I called and asked why, was told it was across the board and I wasn't the only that would have this increase. It was cars, bikes, homes etc. Everyone's premium has gone up.

So I thought no worries, what's another $900 eh? So I paid over the phone via Credit Card.

I told a mate about it who came over 30 mins later and he told me I was a dickhead for paying that, I should call Shannons or someone else.

I agreed with him, called Suncorp and cancelled my policy. Rang Shannons and they agreed to the same value and the premium was slightly less at $1530. But the value of the car has nearly doubled on their books over the last 6+ years and my premium has stayed the same.

Little do they know it's a $50K car every day of the week.

 

God, it was even over-valued back then!

 

Yep, if only they knew the truth.

 

I've got a Grigio Alloy Australian delivered 360 Spider 90,000 Klm on the clock,got it 5 months ago for $95k and that's the info the Rta has,it's insured at the mo for $95k with Shannon's for $1500 ish a year.Now my question is, is it under insured??