Shannons Insurances value

[boss290cobra]

if its all in writing they are bound by the agreed value ,obvisously depreciation will come into it down the track,but ill be happy if the agreed value stays put for the first two years then drops say 10-12 % im ok with that,theft is the main concern of mine and if this was to happen you would think it would inside the first two years,but anyway the insurance companies are the real criminals only they do it legally and get away with it,but we have to cover our assets somehow,

darrell

[BMK]

Beejay

I have agreed value. However I'm going to follow up to see about this' salvage clause'. I'm not sure what this is. I was told it can be arranged/added for something like an extra $60 on the premium.

My Cobra is one of four I have insured with Shannons and my insurance for $50k is around $390 this year for full cover.

I have it with an immobiliser. Cut off switch x 2 - hidden and on the dash.

I also have a switch on the side of the battery that is removed. It is garaged.

I only drive it on Sundays...

[BMK]

Boss290cobra

Darrell,

Depreciation is not relevant. I'm going to lift the value...

If a Phase III GT HO can reach $650,000 I think replica Cobra will see $80 - 90 in the next few years...

[boss290cobra]

heres hoping bernie it would be nice

darrell

[stephen low]

Guys

I've insured with Shannons on a lay up basis, ie in build not driveable but I did enquire about the automatic salvage rights that I too had heard about and,

one: I think you pay for that through the premium ie it's not free and,
two: its not an automatic clause and wasn't available to me even when I went full insurance after rego.

So question the sales rep. closely on this if you are after this cover. Reading between the lines I think it can be got - at a cost.

Bernie

That time at the club meeting in Melbourne a few months ago when I first met you, I don't remember that being a Sunday night - do you??

Cheers

[Leeroy]

Drove mine into Shannons when I finished it and insured it for agreed value. I wanted that to be $75k but the best they would do is $60k with option to buy back. Policy costs $620/pa which sounds exxxy to me? Who else insures our babies?

[Rob. Smith]

The last time I spoke with a Shannons rep. He wouldn't insure an incomplete vehicle and anything over 40K would require a personal visual inspection.
I now have a very good burgular system in the shed.
Every time I spoke with Shannons in Sydney the story changed.

[Plums]

I've got laid-up cover for $50k (with option to buy the wreck) and all I had to do was supply engine and chassis numbers. Premium: around $250
They said that when it's ready to drive on the road they'll just up the value to $60k for the comprehensive insurance (driven 2 days per week).... Premium: around $530.

I have recently insured the house and contents with them too. They were basically the cheapest (less than $20 a year more than the cheapest quote), and also provide $10k of "enthusiast" cover for nothing, (covers auto memorabilia, spare parts and of course tools).....

[Baz]

Originally Posted by spookypt

My understanding as a general guide once you get over the 40 - 50 mark you need to have it assessed by them to attain an agreed value. For what its worth mine is agreed at 75K.

I have done alot of business through shannons and have an excellent contact in there. PM me and I will give you his name and details. He may be able to help you out further.

SpookypT

Spookypt,

You have a PM.

Baz.

[ac andy]

Mine is insured with Shannons for 50k laid up cover, told the guy it would be worth 100k when finished and they didnt have a problem. I told him what had been done to it and what would be done by the time it was finished and he said that 100k would be realistic. They give me good rates on my other cars too, coz i have the Cobra insured with them. It only cost me an extra $100.00 a year to have the 22inch wheels on my Chrysler 300C covered as well. Havent ever had to make a claim so maybe that would be a different story.

Andy.

[Sloth]

I have mine insured for $80k agreed value with Shannons. Remembering most of my car was built professionally, i reckon that is a little light but i am happy with it. I would sell it today for $80K, so fair is fair.

When i stacked it Shannons paid about $32K for the repair, and i reckon a lot of that was labour. I had no dramas with them and i thought them to be very fair and reasonable. My premium went up in line with the lost no claim bonus, however now resides back at the maximum. I am on the lower rate as the car does less than 8000 km per annum. In fact, it only has about 1800km on the clock...

What does "fly by wire" mean?

[Baz]

Originally Posted by Sloth

I have mine insured for $80k agreed value with Shannons. Remembering most of my car was built professionally, i reckon that is a little light but i am happy with it. I would sell it today for $80K, so fair is fair.

When i stacked it Shannons paid about $32K for the repair, and i reckon a lot of that was labour. I had no dramas with them and i thought them to be very fair and reasonable. My premium went up in line with the lost no claim bonus, however now resides back at the maximum. I am on the lower rate as the car does less than 8000 km per annum. In fact, it only has about 1800km on the clock...

What does "fly by wire" mean?

Sloth:

'Fly By Wire' refers to the sytem which operates your intake system and relates to vehicles fitted with fuel injection.

In most carby engined vehicles you have throttle cables, levers or similar
that are connected between the cary and the accelerator and operated manually by the amount of pressure that you place on that accelerator pedal.

On the other hand, the majority of modern fuel injected vehicles don't use cables or levers to deliver the message from the accelerator to the throttle bodies. They use a wired loom called a 'Fly by Wire' which plugs into the pedal box and sends electrical signals from the accelerator to the throttle bodies.

Hope this explains it in layman's terms, because that's all I am. A layman.

While I've got you there, could you let me know what premium Shannons charge you for 80K on your Cobra as I will be ready to insure my build before Christmas I hope? If you don't want to publicise it on the Forum, you can send me a Private Message.

Baz.

[Tenrocca]

Originally Posted by Sloth

What does "fly by wire" mean?

The readers digest condensed version.....Electronic Throttle control or "ETC"