Finally! Cheaper insurance for special vehicles.

whingey · 24-05-2011, 11:20 AM

I just insured both coupes with Lumleys special vehicle insurance. Shannons were charging me $460 for the XA for 50k worth of cover and $396 for the XC with 35k coverage. Lumleys is insuring both coupes comprehensively for $390. For $390 I get to keep the wreck, get my windscreen replaced for free and an excess of $250. The combined insurance value is 75k which covers the XA for 40k and the XC for 35k. Hasta la vista Shannons.
Whingey

Posts: 523
Joined: Sun Jul 20, 2008 12:32 pm
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galaxy xr8 · 24-05-2011, 11:26 AM

Do you get choice of repearier if need be ?.

whingey · 24-05-2011, 11:27 AM

Yep, sure do.

xisled · 24-05-2011, 11:30 AM

You must live in a state that is still 20 years behind with insurance and excess prices like that. Try living in Melbourne or Sydney, premium will triple and excess doubles. I would say you either live in South Aus or Tassie.

But it is pretty cheap, wish my car would cost me that to insure. I paid $950 last year and that was with my 50 percent employee discount with Just car.

SVTVNM · 24-05-2011, 11:32 AM

I did the same thing last year , saving nearly $1000 a year for 2 cars through Lumleys

whingey · 24-05-2011, 11:35 AM

Quote:

Originally Posted by xisled

You must live in a state that is still 20 years behind with insurance and excess prices like that. Try living in Melbourne or Sydney, premium will triple and excess doubles. I would say you either live in South Aus or Tassie.

But it is pretty cheap, wish my car would cost me that to insure. I pay $950 last year and that was with ym 50 percent employee discount.

I live an hour from Sydney.

xisled · 24-05-2011, 11:39 AM

Quote:

Originally Posted by whingey

I live an hour from Sydney.

WOW that is great. New South Wales is the most expensive state to insure a car. Great work.

Rodp · 24-05-2011, 02:44 PM

Quote:

Originally Posted by whingey

I live an hour from Sydney.

Would probably have to be more specific - I live an hour from Sydney. Liverpool.

Currently pay $2900 for my F6. Probably not considered a special vehicle.

GT0132 · 24-05-2011, 04:04 PM

Quote:

Originally Posted by Rodp

Would probably have to be more specific - I live an hour from Sydney. Liverpool.

Currently pay $2900 for my F6. Probably not considered a special vehicle.

I got a quote from them for my 2005 BA GT.

I have had this car insured with AAMI for 3-4 years, with agreed value of $38,000, Full NC, unrestricted kms with a premium of $1,800 p.a , $500 general excess per claim and a $500 driver under 25 excess. Aged 48 , no claims and 2 speeding fines in past 5 yrs and licensed since 1978. Live in Sutherland area - 30 minutes South of Sydney. Looking at buying a daily driver shortly from which time the GT usage will be cut in half from its current 9,500 to 5,000 kms a year.

Premium quoted by Lumley was $1,100, but can't use it more than twice a month or do more than 5,000 kms a year and be used for recreational use only (ie, it likely won't be covered if parked on a busy city street on say a Monday afternoon or overnight at a friends place not garaged). The most they would insure for was $28,000. They had an issue whether the GT was a vehicle they would insure given that

(1) it's relatively new and not a classic , despite being special,
(2) because the GT is my only car (for now) they see it as my daily driver even though I don't use it to travel to work or use a great deal anyway.
(3) I'm not a member of a car club

No one criteria would rule it out, just a mix of the above. i.e they said they would cover it if I had a second car, despite not meeting the other 2 criteria;

Ryno on the other hand for the a premium of $980 will allow an agreed value of $35,000 and an 8,000 km limit with no restrictions on number of times used, provided its not daily use (not sure how they would define or prove that)

So, in summary I think this Lumley offering is more suited to owners of old classics - X series etc who use their cars stricly for cruises and shows and otherwise keep them locked away

Stefan · 24-05-2011, 04:34 PM

Finally???

Been around for many years, first as Torque, then LSV, I've posted about them many times but many people are blindsided by Shannons' advertising

3 cars valued at $350K, premium is 900 bucks....in Sydney.

Shannons quoted $3K, I've argued with Shannons over this, as I can only drive one at a time so the risk is very low. LSV have always seen it my way so they get the nod.

Supercharged · 17-08-2011, 08:08 PM

Quote:

Originally Posted by Rodp

Would probably have to be more specific - I live an hour from Sydney. Liverpool.

Currently pay $2900 for my F6. Probably not considered a special vehicle.

I have general insurance on the GS FPV Ute with Lumleys at $890.00 and the insurer I was with before with the FG turbo wouldn't touch the GS because it was supercharged, go figure.

HEMI POWER · 24-05-2011, 11:40 AM

Quote:

Originally Posted by whingey

I just insured both coupes with Lumleys special vehicle insurance. Shannons were charging me $460 for the XA for 50k worth of cover and $396 for the XC with 35k coverage. Lumleys is insuring both coupes comprehensively for $390. For $390 I get to keep the wreck, get my windscreen replaced for free and an excess of $250. The combined insurance value is 75k which covers the XA for 40k and the XC for 35k. Hasta la vista Shannons.
Whingey

Posts: 523
Joined: Sun Jul 20, 2008 12:32 pm
Private messageJabber

Yep, i switched over one year ago and both cars insured for the same price Shannons insured one for.

Shannons are getting way too dear.

**Polyal** · 24-05-2011, 11:44 AM

Nice. I might give them a call.

I am with Shannons for my AU, obviously not a classic but I had my XD with with then never bothered to change. Im pay $580 full comp for a car with a market value of what...$5000 if I am lucky (got a $3k LPG system).

When I get some time I will call around again, Shannons have been nothing but disappointing to say the least.

whingey · 24-05-2011, 11:49 AM

If Shannons redirected some of their advertising budget to giving a cheaper rate then maybe people wouldn't be leaving in droves. G.O.G.G.O....

FOMOCO 1 · 24-05-2011, 01:07 PM

Guys Lumley is great and had been with them for 15 yrs + but can I recommend Ryno Insurance they are fantastic, all the same perks but with good old fashoined service and common sense. Underwritten by LLoyds of London too, so they are not fly by nighters either.

Big Bird 17 · 19-08-2011, 09:55 PM

Quote:

Originally Posted by FOMOCO 1

Guys Lumley is great and had been with them for 15 yrs + but can I recommend Ryno Insurance they are fantastic, all the same perks but with good old fashoined service and common sense. Underwritten by LLoyds of London too, so they are not fly by nighters either.

Totally agree about Ryno and $900 a year cheaper than my last insurer with better market value.

whingey · 24-05-2011, 02:04 PM

For some reason there are die hard supporters of Shannons regardless of cost. A few forums I've posted this thread on say it's the end of the world if we switch from Shannons. Maybe it stems from the ad of the bloke cuddling up to his XY GT? I've had responses such as "yeah but wait till you make a claim". How do they know?? Obviously they're not insured with Lumleys but they're willing to sledge them without any foundation or dealings with them. I find it bizarre.

**Polyal** · 24-05-2011, 02:06 PM

I can tell you know I had huge hassles getting my AU fixed through a Shannons THEIR preferred repairer. I just gave up as it was wasting my time.

**FTE217** · 24-05-2011, 02:16 PM

I never had trouble with Shannons using my own preffered Repairer but after the last 3yrs having to call back receiving my renewals with the agreed values dropping and finally this year they wouldn't budge I inquiried through Ryno Insurance just a few months ago.
Great over the phone and agreed to all my requests slightly cheaper annually (sydney metro) - many other T owners have done the same of late.
Ryno must be picking up plenty new business at Shannons inflexability.

xisled · 24-05-2011, 02:20 PM

Lumley is a huge company, they are owned by Westfarmers (bunnings).

Shannos used to be a good insurance company, but since Suncorp took over ownership of Prominia. Promina owned Shannons before Suncorp. Many things have changed. Including shannons personal approch with there customer service people. Shannons used to have car enthusiasts that knew there stuff, working for them but since the Suncorp take over, the call centers are becoming more main stream and it has lost it's personal touch.

So Shannons once upon a time was the place to have your classic car, weekender, and high performance car insured with them, but since the take over it has lost its touch and become more like any other insurance company.

Pepscobra · 24-05-2011, 04:42 PM

I've been using LSV since 2007 when I purchased my Cobra ute.
I've even posted about them before when I heard over FPV owners paying $1500+ for their car insurance.
They even have a special policy if you dont use your car as a daily and travel less than 10,000kms/year.

Ben73 · 24-05-2011, 05:38 PM

It seams insurance has gone up majorly lately, at least NRMA.

I've always wanted a 300c SRT8, so I did a quote for insurance early this year for one, I got quoted about $3300 premium with $600 excess.

I re-quoted today, similar car, same location. Got a $4300 Premium with $800 excess! How could prices skyrocket so quickly!

As you can guess If I didn't buy one with 3K insurance, there is no way I would go near one at 4k insurance.

genebaby · 25-05-2011, 08:12 PM

Whenever I check Lumley and Ryno don't cover XR8's!!! :(

4VCLEVO · 25-05-2011, 10:51 PM

I just got a quote from Rihno, XAGT insured for $35k for $349 a year. Comprehensive insurance for less than 4000km a year. Its a very good price as I am currently under insured with RACV for $19000 and it cost over $500. I did contact LSV but they haven't got back to me yet, where as Rihno got back to me the very next day. Shannons wouldn't insure my car as I don't have it locked in a shed.
I will be switching to Rihno this week.

Dustin_80 · 26-05-2011, 07:03 AM

Is this the beginning of a trend of customers moving away from Shannon's?
Excuse me if I dont shed a tear.

sudszy · 26-05-2011, 07:16 AM

For what its worth, I got quotes from Shannons about 15 years ago to insure my "classic". Had to take the car to them, then got this assessor that knew ba about the car telling me it was only worth x. His assessment of x would have been market value for a crapped out version of the car, which I could have got with any other insurance company, but this one was mint with many rare fact options etc and good examples were getting easily 2 to 3 times the market value.

Found about lsv/lumley, sent them some photos and they agreed to insure for what I wanted at about the same rate as regular companies wanted for market value.

Unfortunately this car got involved in a seemingly minor shunt(other member of family at the wheel) where the other party was at fault. I just passed the details on to Lumley, they dealt with the other party and I picked the repairer of my choice. The quote for the damage was way in excess of market value of a crapped out version of the car, but within my agreed value....so the car got fixed, otherwise it would have been a write off, exactly the reason I got agreed value insurance for it.

The whole process wasnt entirely smooth, the repairer of my choice was a problem, compounded by Lumley paying them before I had cleared the work as OK.

whingey · 26-05-2011, 11:29 AM

Glad to see everyone is open minded about a cheaper insurance company. I posted this thread on a couple of GT sites and got back some responses I couldn't believe. It was as if I had turned my back on Shannons after all they done for me (haven't figured out what) and that I owed them some misguided respect!? I'm guessing the clubs devotion stems from the fact that Shannons throws them some sort of bone, probably a sponsorship deal. One guy said he didn't mind paying twice the premium he could get with LSV because Shannons had looked after him. I wrote back and said "How do you know LSV won't do the same...and for half the price"? SILENCE.

sanchoXB · 27-05-2011, 07:47 AM

Quote:

Originally Posted by 4VCLEVO

I just got a quote from Rihno, XAGT insured for $35k for $349 a year. Comprehensive insurance for less than 4000km a year. Its a very good price as I am currently under insured with RACV for $19000 and it cost over $500. I did contact LSV but they haven't got back to me yet, where as Rihno got back to me the very next day. Shannons wouldn't insure my car as I don't have it locked in a shed.
I will be switching to Rihno this week.

None of my buisness but $35k for a XA GT sounds a bit undervalued to me. My XB GT sedan is insured for a lot more than that. XA's are worth more than XB's.

4VCLEVO · 17-08-2011, 08:16 PM

Quote:

Originally Posted by sanchoXB

None of my buisness but $35k for a XA GT sounds a bit undervalued to me. My XB GT sedan is insured for a lot more than that. XA's are worth more than XB's.

I ended up switching from rihno to LSV ($50 cheaper) and sent them photos, they valued it at $60,000, so yes $35k was undervalued.

mash85 · 17-08-2011, 09:05 PM

i remember trying LSV a few years ago for my xr6 turbo, i remember them saying they wouldnt touch it as it wasnt a "special" vehicle. i copped that, but i see someone above has insured their au2 xr8 with them. might give them another crack.

does anyone know if they'll insure modified cars? currently ive been stuck with Just Car Insurance as no one else seems to want to touch it.