I find myself somewhat bemused by Shannons Insurance. We recently bought a new car and thought we would insure it with Shannons, as we already have 2 vehicles along with house and contents policies with them. We have been continuous customers for about 12 years. When I received the quote I was surprised as it was significantly more expensive than quotes I had obtained from other insurers while having the same conditions/excesses etc. Quotes from other insurers for the vehicle ranged from $276 - $418 per annum with Shannons quoting $557pa.
As usual (and as I have done in the past with some success) I called Shannons, told them about cheaper quotes elsewhere, and asked if there was anything they could do to make the quote more competitive. Their response was that Shannons is an insurer of ‘exotic, rare, and collectable’ types of vehicle and that their policies have features to reflect this, so if I was shopping for insurance on price as the main criteria then, “Perhaps Shannons is not the right fit for your insurance and you should find another insurance company for this car”.
I was gobsmacked, but thinking that maybe it was simply a disgruntled consultant, I waited a few days and called back to be told essentially the same thing. “If you are shopping on price then Shannons is probably not for you.”
My brother in law reminded me that I had recommended Shannons to him and he took out insurance with Shannons on 2 vehicles and that his daughter-in-law wanted to insure her recently purchased $12K Toyota. When she rang Shannons and gave them details of the vehicle, Shannons tried very hard to suggest that she would be better off elsewhere and that Shannons was not interested in insuring the vehicle, so much so that the young lady came away in tears, feeling that both she and her choice of car was being criticized. As my Brother in Law was already insured through Shannons he called back, relayed the story and eventually the vehicle was insured without further incident.
In my last call to Shannons when I again asked for a more competitive quote the consultant said “Let me see if I can find a way to put this gently, . . . Shannons builds extra benefits into their policies for the discerning buyer of older vehicles, show cars and the like which means that if you’re shopping for insurance on price alone then Shannons is probably not the best choice and you might be better off looking for another insurer for this car.”.
I then asked about our current "pay by the month’ policies and whether there was any penalty for early termination to which I was told no, no penalties apply, but he asked in a puzzled tone as to why I would terminate my insurance, I explained that if I was going to look for another company to insure for the new car, I could get much larger discounts if I brought house, contents, and two other vehicles along as well. I asked the consultant if he could see my dilemma and he said yes, that he could and seemed at a loss for words. When he had nothing more to offer I ended the call.
So sorry Shannons, my mistake! Obviously our new car is not cool enough, or retro enough for you to insure. If that’s the case then I’m equally sure that my 2 existing cars, house & contents aren’t cool enough either. I’m now looking for a “good insurer”. (Oxymoron Alert!!)