Changes to Shannons insurance policies .
- Thread starter Bomber2012
- Start date
Albynsw
Well-Known Member
Fair call me thinks
Club 4x4
Active Member
Just to get things really clear here - it is absolutely NOT 20%
Its a minimum of $2000 or 5% of the vehicle. Generally if you drown a car it will get totalled, so the excess gets reduced from your payout.
Kal
CaptainBanana
Well-Known Member
But with Shannon's it's still ZERO above your base excess of only $650 - you know, just to be clear.
CaptainBanana
Well-Known Member
It's all these peanuts you see on the Cape and gunshot and all that kind of stuff driving into a metre and a half of water just to be YouTube Sensations causing this problem for the rest of us who might occasionally find ourselves at risk.
Club 4x4
Active Member
Absolutely - it was covered well in another thread but more than happy to pop it in here too.
In reference to the increases - yes, we have seen in the last 24 months (moreso the financial year of 18/19) a need to make significant adjustments to our rating model. This caused a fair bit of pain but was a necessary move following what we found out about the portfolio over the first 3 years of the business. I wont blow smoke and say that there will never be increases again because the reality is it's a moving piece - as claims develop and the business continues to grow, which it has year on year regardless, continuous adjustment is required, not unlike any portfolio.
My advice to anyone and everyone is if you've found things unfavourable in the past, more than happy for you to have a go at us, but try another quote when your renewal comes up - it doesn't take a lot of time and by using the link up on the site here you give back to 4X4 Earth if you buy a policy
Regarding the commentary around the theft claim OR a not-at-fault claim and it having an effect on a policy at renewal. This is also true. It's true that some insurers will not consider a claim where you are designated as not-at-fault in the rating process. In our case we do and we always have. Our underwriter consider a claim where you're not at fault as a claim regardless. You don't get the same loading as an at fault claim or even moreso, a theft, but it will count towards the overall risk profile.
The transparent reasoning behind this is because when you lodge a claim with your own insurer for an event you're not at fault for there is still an administrative process that is undertaken and a recovery that needs to occur from a third party or another insurer. Often these recoveries are only partial as such a cost is still incurred that can be attributed to that policy.
I encourage anyone of you to try us out again, you may be surprised.
Kalen
03hilux
Well-Known Member
This all would come back to your earlier comment Alby regarding manufacturers wading depth. This is where the insurance company would have a way out.
On another thought, if my factory wading depth is 800mm, and I give my car a 2 inch lift, informed my insurance co, and they are ok with it, would it automatically increase my wading depth coverage?
CaptainBanana
Well-Known Member
Shannon's seems to give the lowest premiums with the highest insured value and choice of repairer.
Other general insurers are cheaper and cover off road but insist you use their repairer for example try and Google reviews for smart capital who AAMI insists you use. Keep in mind the horrible stuff customers write about them only the customers Who Knew enough to see they stuffed up the repairs just how just imagine how many are going unnoticed
There's many options but your choice depends on how well you want your repairs done should something happen.
Last edited:
CTL
Well-Known Member
Shannons insurance clarifies its “driving into water” clause
motofomo.com.au
Shannons insurance clarifies its "driving into water" clause - MotoFomo
Shannons Insurance recently updated its PDS around "driving into water" causing concern among four-wheel drivers, but we've cleared it up.
motofomo.com.au
CaptainBanana
Well-Known Member
So this guys new to 4wds. This would be maybe his third time out and third time in something he had no hope of actually driving. This is why the rest of us are becoming uninsurable.
Attachments
-
Screenshot_20200712_185025_com.facebook.katana.jpg -
Screenshot_20200712_185025_com.facebook.katana.jpg -
Screenshot_20200712_185025_com.facebook.katana.jpg
eric9VR
New Member
I think you're right on that one. I think there are plenty of such moments in insurance agreements and policies, which allow insurance companies minimize their expenses and give it all to pay for a client. Talking of which, here is a resource ( link: https://www.americaninsurance.com/luxury-car-insurance ), where I found a lot of relevant information about insurance companies and their prices for the services they provide.
Last edited:
bosurinko
New Member
Hello, pal. Has there been an insurance price increase percent? I even didn't feel it. For example the company traders insurance, where I insured my car, didn't even increase anything in the price list of its services. For example, as I had 1200 for my Audi A5, it remained so. Furthermore, their prices tend to decrease every year. For example, each year I get a discount on extension on contract. All in all I'm quite happy I use their services and due to this save my nerves and money)
Last edited:
phs
Well-Known Member
What is everyone thoughts on Shannon’s and the cover in comparison to RACV?
Thinking of getting a quote just had our renewal come today and it’s $$$$ for some one that’s never had a claim in 18 years, and the fact it has left a locked garage 10 times in 6 month
Just looking over the fine details of the insurance renewal and the value won’t even get us a completely stock car car back so definitely need to have a look around
Thinking of getting a quote just had our renewal come today and it’s $$$$ for some one that’s never had a claim in 18 years, and the fact it has left a locked garage 10 times in 6 month
Just looking over the fine details of the insurance renewal and the value won’t even get us a completely stock car car back so definitely need to have a look around
Last edited:
CaptainBanana
Well-Known Member
No choice of repairer - limited value for modified vehicles, also the only company to ever battle me on a claim (boat) took a year to fight them and had their hand forced by the FSO.
If say not as bad as AAMI who insist you use SMART capital repair centres but far from good for modified cars.
discomatt
Well-Known Member
After being in the automotive repair game for years I would never consider AAMI as a choice of insurer