Shannons

T

treoleileagh

Full member
Location
Australia
Question for aussi owners insured with Shannons. How much is your premium compared to your bike's valuation?
Taking premium cost compared to valuation as the benchmark, I'm intrigued why a Laverda is more costly to insure than a bevel Ducati and an SF2 costs more to insure than a Jota (for a same owner). It seems that a Shannon's premium to cover a BMW R90S (for a same owner) can cost five times as much as that for a 900SS and four times as much as a Jota, even though the bikes are garaged alongside each other and ridden to the same club events..

There seem to be some weird tables in use.
Does anyone have Shannon premium-cost to valuation data for their classic Jap and Brit bikes?
Cheers
 
If they tried that with me I'd threaten to look elsewhere!! Makes zero sense and is total bullshit.

But sorry - no, haven't (yet) insured with Shannons.
 
These amounts $$$ was that a quote on line or via a phone call ?
With bikes that are a little exotic definitely make a phone call.
To be honest though I have always gone with Swan insurance for bikes but that just my 2c worth.
 
I called Shannon's to get 3rd party cover on my Jota...the guy said, 'you sure? it will be cheaper to put comprehensive cover on that bike'

So he did both quotes based on no claims, good boy driving history........ Comprehensive cover @ 18K, my choice of repairer and buy back option was around $180. 3rd party was $260. Fucked if I know....I got comprehensive on it.

My other bikes were quoted at $1200 each pa, although insured value is reasonably up there....
 
Forgot to add that's with historic rego and so it's slightly limited ks and intense care on my part so to them they calculate less risk. Well worth it for any random crash that might happen in some remote spot trying hard to keep up with others. Replace it nope it's going into the ground with me. I don't sell relatives
 
have both my race bikes insured through Shannon's, though cover is not Comprehensive 😂

we actually have 7 vehicles insured through Shannon's on the same policy, works out cheaper if you get to 7 as you get a big discount, HSV GTO, Corvette, 50 Chev pickup, SFC 750, Montjuic and the two race bikes, race bikes only cost $60/year each
Bargain
 
Totally understand it’s a keeper Vince..... but. Why under value a classic bike like a Lav ?? (Only 1 reason I can think of) Market values it a lot higher!
Heaven forbid, If that lithium battery you have on trickle charge burns the shed down tnite, or some pimply faced scumbag knocked it off and rolls it into a reservoir never to see the light of day again.....🥺 you might end up with a bmw k 75 with your 10k 😱 bugger that!
I mean you’d have 10k rolled up in that front end of yours 😉
Anyway each to there own, stay safe up there in NSW, seems we r heading in the same direction 🙄
 
A few years ago I had a pretty bad accident on my RGS some of you may remember. So when I put it back on the road I decided to get it insured with I checked out a few of them and Shannon's seemed to have a pretty good reputation and the cost was very reasonable at $250 for $15000 value.
Twelve months after that I had some trouble getting my fuel cap to lock after filling up, I thought I had it....... but not so .
After traveling down the highway to get to the twisty stuff the fuel cap had vibrated loose so being an RGS with the long fuel neck I get to the first right hander hit the brakes the fuel comes pouring out and down I go ...........AGAIN.
So I ring up Shannon's tell them I've troweled it. They said I was to far away for the assessor to come to my joint and to take it to a local bike shop for a quote , which I did ,then sent quote plus photo's . About for 4 days later they rang to say go ahead and take it to the bike shop for repair to which I replied no I want to fix it myself. They replied no worries as apparently if I do it myself they are not responsible for the repairs, fair enough.
Next day money was deposited in my account.
Also included in your policy they cover your apparel up to the value of $3000. Now here's the thing I had just bought a new set of leathers which had very minor scratch marks after the accident. I told the women that I was dealing with that in all conscience I wouldn't expect anything for that, she said oh no we will give you $500 for the leathers and of course you can keep them, how good is that? Plus they gave me another $900 for my Shoei helmet which was also only slightly damaged . I had to give them photographic evidence of the helmet with the chin straps cut off but that's fair.
So long story short if you live in Australia you would be hard pressed to get a better deal than the one I got from Shannon's.
 
It usually takes a nudge for me to see the tree in a forest time to up the agreed value. Thanks for the nudge At the time I was thinking a low side and a paint job but hitting something or a fire would blow that up pretty. Quick
 
You can go low on value, then top it up yourself if required. Or even pay the lot yourself. It’s called being self-insured. If you’ve got the money to do it you can save on premiums. Not a good idea for third party though IMO.
 
I have never insured in 50 years of riding. That probably figures to a lot of money that I have saved. The only worries occurred 10 years ago when I had a collection of rather expensive Italian bikes that were worth stealing. I do remember enquiring about my 77 RS back in the day and the cost was really prohibitive so I gave it a miss. Cheers, Ian
 
Shannon's will insure bikes for theft and fire Ian and cost is very reasonable, plus they do not need to be registered
 
Not to mention Shannons tip a lot of support back into all forms of Racing in Aus, along with show n shine events etc etc.
So its a win win if your involved with a club, to support them. You have more than likely been to an event that has had their backing!
 
I'm happy with Shannons, they appear to have a pretty good eye on the market.
Having Historic rego along with several items reduces my premiums substantially.

Any thing over 35 years old you get to keep the wreck, and rider gear is covered as well as Levo pointed out.
There is also their laid up policy which saves heaps, this also covers the farm bikes and quads against fire, theft etc.

I did question why the premium of my MHR [ins for 25k] was higher than my Jota [ins for 36k]. Both on Historic/Club rego.
The reasoning was that they considered the Ducati a higher risk.

Shannons recently sent a check to the Norton club in SA, which went toward a new gazebo printed up in the Club colours.

All smiles, ;)
 
When bike is over 35 years old, policy gets cheaper.
Cars are cheaper than bikes

1955 MG $10000, policy $100
1930 Austin 7 $11500, $72
1974 3C $24000, $160
1974 SF2 &16000, $130
1988 Guzzi $10000, $244

Had 2 claims with them over the years, both my fault, both in the MG, both paid without fuss
 
As with Mactriple, never insured any of my bikes since paying off my SF2 I brought in 74.
I've owned my current laverdas for like 39 years and 36 years, they cost me fuck all so owe me nothing.
I don't even insure my house even though I live in the bush with the constant bush fire threat.
The $$$ they want for house insurance is now just prohibited so I spent the premium on my own fire insurance, big fuck off pump, poly pipe and sprinklers.
 
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