Who Do You Insure Your MX5 With?

Mr Morlock · Postby **Mr Morlock** » Fri Jun 09, 2017 4:17 pm

All said before but "cheapest" is only part of the criteria. NRMA s probably much the same as RACV and maybe that's just fine. It's not much consolation to get the cheapest quote and then get poor service or a load of inconvenience.

madmort · Postby **madmort** » Fri Jun 09, 2017 6:12 pm

In my experience. One never knows till that claim is made with any insurance. Ash Wednesday Bushfires come to mind.

Mr Sexy · Postby **Mr Sexy** » Sat Jun 10, 2017 9:28 pm

Lokiel wrote:Gina's registered with Shannons as a weekend/occasional car but only for A$16,000 and I get first dibs on buying back the car in case of an accident.
No way could I get market value insurance for the car with all of its modz so this is the best I can hope for.
Price-wise it's far more reasonable than I could find elsewhere, mostly because it's a weekend/occasional-use-only car.

When I first got Gina I tried to insure her with Shannons but was deemed to not be "a car enthusiast" since I was not a member of a car club and didn't have enough "online presence" in forums to indicate that I was an enthusiast.
Several years later, at the QLD NatMeet, I spoke to the Shannons guy there, showed him the car and he signed me up on the spot when I mentioned it wasn't my DD and WHY it wasn't my DD.

Do they know how far its been modded? if so how do they go with it, do they put your premium up in any way?

I Just signed up with them as my previous insurer wouldn't insure it for what I wanted. I told them it was stock not knowing how they would treat it if I said it was..

Lokiel · Postby **Lokiel** » Sat Jun 10, 2017 10:26 pm

Mr Sexy wrote:
Lokiel wrote:Gina's registered with Shannons as a weekend/occasional car but only for A$16,000 and I get first dibs on buying back the car in case of an accident.
No way could I get market value insurance for the car with all of its modz so this is the best I can hope for.
Price-wise it's far more reasonable than I could find elsewhere, mostly because it's a weekend/occasional-use-only car.

When I first got Gina I tried to insure her with Shannons but was deemed to not be "a car enthusiast" since I was not a member of a car club and didn't have enough "online presence" in forums to indicate that I was an enthusiast.
Several years later, at the QLD NatMeet, I spoke to the Shannons guy there, showed him the car and he signed me up on the spot when I mentioned it wasn't my DD and WHY it wasn't my DD.

Do they know how far its been modded? if so how do they go with it, do they put your premium up in any way?

I Just signed up with them as my previous insurer wouldn't insure it for what I wanted. I told them it was stock not knowing how they would treat it if I said it was..

You do need to tell them what modz have been done but they do have a limit on what they'll insure the cae for (which isn't even close to the cost of the additional modz and is why I made sure I got the first option to buy back the car).

Ekliptix · Postby **Ekliptix** » Sun Jun 11, 2017 2:10 pm

Thanks guys, ended up sorting it out thanks to your suggestions!

MattR · Postby **MattR** » Wed Jun 14, 2017 3:25 pm

Insurance is a personal thing in that each person, due to age, where they live, their history and so on, as well as the car present very different risk profiles to the insurer.

I have currently 4 cars, one bike and my house and contents all with Shannon's and my work ute with QBE.

I did have NRMA insurance, but after finding out how their choice if repairer policy worked through a not at fault claim I will not use them.

I use Shannon's as they offer me a good price on the products I use, I get a multi policy discount and the premiums are competitive with other insurers.

Their policies also give me the coverage I want. For example, two of my cars are insured under laid up cover as they move from home to workshop and back so are covered in case.

My latest purchase of a 5 series wagon was cheaper through Shannon's than pretty much anyone else for the coverage I get.

Their home and contents works for me as well as the extra cost if personal effects for watches, jewellery and so on is better value than last insurers, plus I get the extra cover for my car stuff in the garage and the house, plus I am not restricted to a stupidly low claim limit for my cd, vynal DVD and games collections that I was with other insurers.

My advice, read the odd if your policy. There maybe some nasty catches in there, like paying the lower of market or agreed value in some claim types.

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MikeVictor · Postby **MikeVictor** » Thu Jul 20, 2017 10:54 pm

Allianz here for both my cars. Looks like I'm the odd one out. Read a lot of PDSs and theirs was the one I was happiest with.

RBH58 · Postby **RBH58** » Mon Jul 24, 2017 8:11 pm

Mr Sexy wrote:Do they know how far its been modded? if so how do they go with it, do they put your premium up in any way?

I Just signed up with them as my previous insurer wouldn't insure it for what I wanted. I told them it was stock not knowing how they would treat it if I said it was..

The issue is more if you have undisclosed modifications that they don't cover (like Budget will not insure lowered cars...no matter how conservative). If you T-bone a Bentley and it's your fault.....we'll, you don't want your insurance company to have an excuse to hang you out to dry.

pcmx5 · Postby **pcmx5** » Mon Jul 24, 2017 10:56 pm

Totally agree RBH, (MRsexy)you may just as well pissed your premium up against the wall,when you want it won't be there so you are backing yourself and every other wanker who may hit you,out there against a reduced premium!!

MikeVictor · Postby **MikeVictor** » Sun Jun 10, 2018 9:57 am

I just got my renewal through and it jumped $180 higher! For a car that's about to start it's third year of depreciation!

I wonder if Allianz have had bad claims experience from ND drivers and re-rated the risk on the car or something, I'll give them a call on Monday and see what gives.

Mr Morlock · Postby **Mr Morlock** » Mon Jun 11, 2018 2:36 pm

All been said man times before. Insurance get alternative quotes if its going up too much and bear in mind if the premium is going up the car value is also going down- crazy but thats the way it seems- repair costs for certain models is also a factor .

MikeVictor · Postby **MikeVictor** » Mon Jun 11, 2018 6:06 pm

Mr Morlock wrote:All been said man times before. Insurance get alternative quotes if its going up too much and bear in mind if the premium is going up the car value is also going down- crazy but thats the way it seems- repair costs for certain models is also a factor .

Yep it seems the car's been re-rated based on repair costs. Did a few online quotes and found Allianz still stacked up well when considering price and features. Still frustrating given my car is worth about 25% less than it was in July 2016.

Maybe I should improve it's value by putting on some aftermarket wheels. Yep, that makes sense to me!

rascal · Postby **rascal** » Mon Jun 11, 2018 7:40 pm

MikeVictor wrote:I just got my renewal through and it jumped $180 higher!

That’s cos insurance companies are more interested in finding new customers than retaining existing ones by rewarding loyalty.
I start a new policy every single year, as it is usually around $100 year cheaper to do a new quote on line than just blindly pay the renewal, even though it is usually the same insurer anyway, and for the exact same cover.

I even rang the insurer to get them to match the renewal price to their (own) online quote and was told they can’t do that. So I said I’ll just cancel the policy and sign up to a new policy, and the girl on the phone advised me not to as I would lose my ‘loyalty rewards’ I questioned what are the rewards and it is essentially just a $7 reduction year on year. She didn’t seem to get the point that it would take me 14years just to break even with their loyalty reward at which point I would have paid an additional $1000+ in extra premiums compared to just cancelling/signing up again, which would take 90 years to recoup with their $7 a year reduction

The ridiculous thing here is that if the renewal included the same ‘new client’ discount then I would just pay the renewal and be done with it, and probably never bother to check if they were still competitive. However as it stands I check quotes for a few other insurance companies each year and so they stand to lose a customer they could otherwise have kept for years....

bossxr · Postby **bossxr** » Mon Jul 08, 2019 10:31 pm

Here's a question for you all - which companies insure you on the track ? I'm insured with Shannon's and all track work is insured as long as it is not a timed event. You also don't need an instructor with you in the car as well.

Not sure if Budget or Woolies would like that arrangement ....

Wolfgang · Postby **Wolfgang** » Mon Jul 08, 2019 11:11 pm

I have been with Shannons for my daily drivers for years now and now the MX5 as well. I recently had to make a not at fault claim on my daily Mazda3, lodged the claim online, received a phone call within 24 hours confirming details and what was needed to proceed, choice of repairer claim was approved within a fortnight.