Update on my insurance situation, LSV= complete dickheads

end of the day they are all dickheads!

thats why I'm only third party.. not a daily driver though
always locked up and always in my sight

anyway they wont payout on track damage ...

 

Shannons are really for insuring garage queens or old bunky cars from the 50s that barely start let alone drive fast or get stolen often...

I have a friend who works at a bodyshop/wreckers... They regularly have alot of cars just sitting around the lot waiting for repairs to be authorised under disputed claims by AAMI. They have a bad reputation in the industry, changing the name to Shannons or Just Cars etc does fool alot of customers though but it's all the same underwriter...

Famous should be able to hook you up hopefully. I had a few speeding fines and a modified Z and they insured me...They also acquired "Young and Cool" insurance a few years back.

 

This is what my dad tells me (hes in the industry too), i had my last zed insured with the nrma, very good and the claim process wasnt a problem, however probably not suited to your needs rob as mine was a dd.

 

Yeah like i said they're just your average run of the mill insurers and probably not what youre looking for. We've had numerous claims over the years with the nrma and its always worked out relatively trouble free... good luck haha all insurance is a bitch..

 

Rob,

One of the most serious problems of modern society is the Call Centre. It is an impenetrable wall behind which the decision makers hide. You need to find out the name (by fair means or foul) of the senior underwriter at LSV and try to make an appointment to go and see him in person. People are very different when you look them in the eye, especially when you have a legitimate grievance about how you have been treated - which you sure do. If you get the appointment, don't forget to be nice.

Unfortunately at the end of the day, insurance is a sellers market. Your application is a proposal that the insurer can accept or reject at their option. There is no divine right to cover. My 1970 build project of a Bolwell Mk VII was abandoned because insurance of the finished item was not going to be available, and I was an executive of Sun Alliance insurance at the time.

Further, don't get too carried away about the incestuous shareholding in the insurance industry. Sure Suncorp does own both GIO and AAMI, but that doesn't go so far as to influence underwriting policy. The two CEO's are both fully empowered, and the two companies compete aggressively against each other and can and do steal business from each other. Ditto the shareholding relationship between Just Cars and Shannons. It is interesting, but no more than that. Conspiracy theorists will of course disagree.

Finally, don't forget the insurance broker. They can get things done that you won't be able to, but you have to make yourself attractive enough for one to go to bat for you. That means you need to have, or can influence, a substantial portfolio of insurance business that can be put their way.

I hope you find a solution.

 

Rob I hear your pain

I'm glad your making it clear though that your only issue is with the verbal agreement being changed. I have been with LSV and found them terrific. Again I'm not insuring a weapon such as yours but as others have said find someone more important than the call centre and speak to them. I now only pay $517 for my car fully ensured for an agreed value. Very good price, unlimited mods.

 

What they'll likely do if they'll come around is firstly insure the car for the market value and then substitute the overall value with the cost of modifications... You'll probably have to provide receipts of everything, and take a bunch of photos or they might even request to see the car in person.

Be prepared to get butt raped on the premium though...

 

LSV v Shannons for a Melb metro renewal

Magic Mike perhaps you've hit the nail on the head with LSV. I've been with them for about 5 years, rating 1, alarm, securely locked garage, work from only. Only designated driver. Renewal coming up for a TT2+2 agreed value 13.5k and they're asking for $837 a year. The person on the phone there told due to claims they are not taking any new turbo customers, only existing ones. I compared their renewal notice with my situation... being the only driver, having an alarm and security, working from home, limit on km a year didn't make any difference. Perhaps I should have said it's not a daily driver which strictly speaking it isn't as I work from home and some days it doesn't move.

Shannons $792.65 for same cover. Youi even though they have the pulldown windows for turbos don't insure them.

Any other suggestions? I'm not sure whether it's worth changing insurers for $45 a year.

John

 

wow didnt know that

Are Shannons and AAMI owned by same company... didnt know that!
I had my front bar repaired through AAMI and the y were great... also a bump n drive away to my front right fender a short while back they actually advised me to get it done as a non insurance job to save me money.

 

I've heard the same thing, quick to take your money, but claiming through them is another story. They REALLY dont like to pay up.

 

mikey ..a quick Q that i have often contemplated .....

i have never been asked the mileage when insuring ... how do they know whether you do in excess of 8000kms per year, anyway ..... ?????

 

No insurance company likes to pay up..

 

if this is for your zed...

the thing we all have to remember is the zed is not a classic and isn't becoming more valuable... its still a 20 year old car.

like all cars it doesnt matter how much you throw at the car, street value is only $8-$12k.. yes its mint, powerful and had $100k spent on it... but you'll never be able to insure it for what you spent.

unfortunately thats just how the world works

 

The good thing about LSV is they will insure modded turbo cars, you are allowed one windscreen per year and you can buy your wreck back. But they don't want daily drivers and cars that are regularly driven in peak hours.

And L&P is right about the in between age of the Z32, I have an older Z and you Z32 people would not believe how much it is insured for all at a very reasonable cost.