Correct mate but why wouldn't there be an option for the original owner of the vehicle to purchase the vehicle back at the amount of which the companies assessor determines the car is worth? Because in my case the car is damaged and not worth as much as the day it was stolen.
I don't see this as being unreasonable because I'm sure I could put 95% of people who have spent years building a car in my situation and they would like to have the option to purchase their pride and joy back
Shannons Insurance- Are you aware
Started by
_LX77SL_
, Feb 26 2014 09:59 PM
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36 replies to this topic
#27
TerrA LX
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Posted 27 February 2014 - 10:16 AM
Did you make them an offer to buy it back?
Was the offer reasonable?
I think they could see past mucking around auctioning the car off.
Maybe ring back with a cool head and a plan.
Was the offer reasonable?
I think they could see past mucking around auctioning the car off.
Maybe ring back with a cool head and a plan.
#28
_LX77SL_
_LX77SL_
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Posted 27 February 2014 - 10:25 AM
I have told them once the assessor has valued the car and they are happy with it, to let me know and I will buy it back. But they don't do this I really need to get hold of someone else higher up.
I have spoken to them with a cool head and still hit the same wall
I have spoken to them with a cool head and still hit the same wall
#29
_SmartE_
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Posted 27 February 2014 - 12:20 PM
Just finished speaking with the company that insures my car Ryno Insurance and it is the same with them, no salvage rights if stolen.
The consultant claims that all performance/classic car insurers have the same policy as Shannons.
#30
Mort
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Posted 27 February 2014 - 03:01 PM
I have just spoken to a Shannons rep to check my policy and he told me that i have first option to buy back the car before it goes to auction if it is recovered.
Get onto them again Ayden and pressure them.
#31
TerrA LX
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Posted 27 February 2014 - 03:27 PM
Not trying to stir the pot but did you specifically ask them what would happen if you were paid out on the policy ie, total loss, the policy is then null and void, but they later found the car?I have just spoken to a Shannons rep to check my policy and he told me that i have first option to buy back the car before it goes to auction if it is recovered.
Get onto them again Ayden and pressure them.
Correct me if I am wrong, but isn't this the case here with the OP?
I am sure all companies policies are the same with common law, if the car is recovered before you settle at a total loss then the car would automatically be returned to you (pending investigations etc).
#32
Mort
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Posted 27 February 2014 - 03:48 PM
He said if the car was recovered i would have first option to buy before auction, i didn't ask if the policy was null and void if i was paid out then car was found, never even thought of it to honest.
#33
RIM-010
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DON'T PANIC
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Posted 27 February 2014 - 04:53 PM
You'd think that this would be one of the areas where Shannon's would look after enthusiasts.
A 'normal' person with a 'normal' car and 'normal' insurer would be happy to get the payout and never see his stolen car again, but obviously we as enthusiasts are different...
If my LJ was flogged and I got paid out, then later the car was recovered, I know for sure I't at least want first option to buy it back!
A 'normal' person with a 'normal' car and 'normal' insurer would be happy to get the payout and never see his stolen car again, but obviously we as enthusiasts are different...
If my LJ was flogged and I got paid out, then later the car was recovered, I know for sure I't at least want first option to buy it back!
#34
xu2308
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Posted 27 February 2014 - 05:07 PM
Once Shannons wake up that the Punters are not Happy about this story, they might have a long hard think about there Policy on it
#35
hanra
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Posted 27 February 2014 - 08:37 PM
I sent this question to Shannon's:
What I would like to know is, where do I stand with my 4 car policies that I have with Shannons? If any of my cars were to be stolen and I was paid out, then the car was recovered, can I simply give you the pay out money back and take ownership of the car again? Please advise.
Thanks
Brad.
The answer I received is:
Hello Brad,
Thank you for your email. In relation to YOUR enquiry below, we would offer you first option for buyback of the vehicle at a value reflective of the vehicle's condition at time of recovery.
We trust this satisfies your enquiry, however please be aware that each claim is assessed on its own merits and this advice is purely in response to your enquiry below.
Kind regards,
Tim.
Shannons Queensland Team
Shannons LTD
What I would like to know is, where do I stand with my 4 car policies that I have with Shannons? If any of my cars were to be stolen and I was paid out, then the car was recovered, can I simply give you the pay out money back and take ownership of the car again? Please advise.
Thanks
Brad.
The answer I received is:
Hello Brad,
Thank you for your email. In relation to YOUR enquiry below, we would offer you first option for buyback of the vehicle at a value reflective of the vehicle's condition at time of recovery.
We trust this satisfies your enquiry, however please be aware that each claim is assessed on its own merits and this advice is purely in response to your enquiry below.
Kind regards,
Tim.
Shannons Queensland Team
Shannons LTD
#36
_Bomber Watson_
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Posted 27 February 2014 - 09:04 PM
THats very intersting.
Cheers.
#37
dattoman
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Posted 27 February 2014 - 10:01 PM
Thankyou all for your comments and suggestions
Its abit of a heated topic and unfortunately one I must close at this point
Sadly since this thread was started at least one member here was mentioned as working for the company in question
This has caused an issue for this member in regards to their job and their position within this forum and they have asked to be removed
Another member who was not named has also asked to be removed for fear of their position within this company
Ayden did nothing wrong
Shannons did nothing wrong
Its up to them to reach a solution between themselves and we should really keep out of that involvement with our suggestions and opinions
By all means speak to your insurance companies and read your PDS's... Know your rights and options... don't be underinsured and protect your investments.
Neil
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