Famous Insurance

[jaycrab]

Has anyone had any experience claiming from Famous Insurance? Their quote is very reasonable, around $500 less than the QBE/GIO and without driver/modification restriction. Interested to know how the claims process is compared to the big guys.
thanks

[speed]

Never heard of em. Shannons FTW

[StillIC]

Famous are the only company I know of that provide insurance to cover your car for damage while on the racetrack. There has been much discussion of this company on another forum I am on, and all suggest they offer pretty good rates for the services offered. But I don't know anyone who has had to make a claim yet....

[SE]

The Confederation of Australian Motor Sport, in conjunction with official partner Famous Insurance, has unveiled a special offer for CAMS Members at the 2015 General Assembly held in Sydney.

Famous has developed a range of exclusive offers for CAMS Members that include insurance cover for daily drive, special cars and track cars. The offering has been tailored to the needs of CAMS Members and has been developed in consultation with a broad range of CAMS Licence holders and Club members.

Famous is now offering CAMS’ growing membership base a tailor made insurance just for them.

The offer includes:

Choice of repairer

Choice of agreed or market value

Choice of paying your premium annually or monthly

Famous is also offering additional tailored features and benefits to CAMS Members which include:

The option of Track day cover up to $10,000 (limited to L2S events and below)

The option of tools and equipment cover

The option to add your trailer to the policy

CAMS Chief Executive Officer Eugene Arocca stated he was pleased the organisation and Famous have been able to come together and cater to the needs of customers and members.

“Famous has been able to recognise that CAMS’ Licensed drivers are proud and experienced and deserve the best possible insurance cover. This offers our growing membership base a tailor made insurance package just for them. It is fantastic that we are able to launch this offer at the CAMS General Assembly, an event specifically for CAMS Clubs and Members.”

Famous is well known for the insurance needs of motorbike owners, but has expanded to cater for more including four wheeled motor sport.

“The team at Famous Insurance is excited to be partnering with CAMS to offer a strong and competitive alternative to the major insurers; those insurers who have taken for granted the fact that customers will just renew their policies each year. With a team of motoring enthusiasts, Famous will be able to appreciate the CAMS Members’ passion for motoring and will be able to offer a great product with great service at a competitive price, “said Andy Gibson, General Manager of Famous.

CAMS formed an alliance with Famous Insurance Agency (Famous), and underwritten by Calliden Insurance Limited (ABN 47 004 125 268) (Calliden) a wholly owned subsidiary of the Munich Re group of companies, to better cater for the needs of those in the Australian motor sport family.

CAMS has been the custodian of four wheeled motor sport in Australia since 1953 as delegated by the Federation Internationale de’l Automobile (FIA), and currently boasts a growing membership base of 55,000. Meeting the needs of the ever expanding and valuable sport has become a strong focus for CAMS, the vision of which is: to have more people enjoying motor sport.

For more information, or to get a quote, please go to www.famousinsurance.com.au

[speed]

Thanks Scott and SE. I've obviously been living under a rock! :embarrassed:

[SE]

Thanks Scott and SE. I've obviously been living under a rock! :embarrassed:

Im still a Shannons customer better the devil you know .Shannons may be more expensive but I know 110% if sh*t his the fan I wont have problems with insurance .There service was fantastic when my wife's car was damaged they looked after every thing and kept me up to date with progress and followed up after we got the car back

[jaycrab]

Well they look great on paper and the PDS has no glaring caveats. I just can't find any reviews of the claim process.
The $800 quote with minor mods is pretty tempting considering $1.5k+ quotes I've got from the AAI issuers with driver and Km restrictions... Hmmmm

[93_Clubman]

Not sure if Famous offer this (a quick look didn't immediately reveal it), but wreck buy-back might be a consideration for some, although perhaps less of a concern for NC owners, as it seems to be something NA6/8 owners or owners of modified MX5s want.

[jaycrab]

Not sure if Famous offer this (a quick look didn't immediately reveal it), but wreck buy-back might be a consideration for some, although perhaps less of a concern for NC owners, as it seems to be something NA6/8 owners or owners of modified MX5s want.

Yeah not really a concern with a near stock NC. If it was written off, there are minimal bits it'd want to keep so a buy back wouldn't be justified. But yes they do offer it:

"If your motor vehicle is a total loss we will be entitled to take over ownership of your motor vehicle. You will
have first option to purchase the wreck at a price to be agreed between yourself and us. However, if your motor vehicle was built in excess of 30 years ago, you will retain ownership of the wreck. "

On all accounts and on paper, their policy looks great and I'll probably sign up after a bit more digging. I'm currently on a 'pay as you go' policy and almost at the limit of my nominated Kms so getting the research done.

[evil_weevil]

The famous brand has been around for decades, I moved my 3 cars and trailer to Famous from Shannons due to poor claims service. one in car and one on home.
When Shannons and the Promina Group were bought by Suncorp back in 2007, after a transition period Suncorp merged majority of claims service to one which of course from a business makes total sense. I get that - I was part of that transition as I worked for Shannons for 5 years. However, the lacking part was while you had JCI, APIA, AAMI, GIO, CIL etc, shannons was niche motor and needed experts or enthusiasts as they say!

the service and knowledge went out the window. now from what I have read in industry publications is Suncorp have moved most claims offshore however some are still here in Aus. Hope for peoples sake Shannons aren't moved off shore either.

since the poor claims exp, I took my 3 cars and trailer to Famous, they came in cheaper but not by too much, however I was sick of Shannons and their service.

with Famous, as mentioned the brand has been around for decades, now its got a revamp and going well and definitely a genuine alternative. Soon they;'ll be underwritten by Great Lakes Australia which is A rated paper so don't be afraid of that! GLA are owned by Munich Re, one of the largest reinsurers in the world. Famous have great security behind them. don't be afraid to call them for a quote.

Also, remember Shannons had the CAMS relationship for a few years...now they don't...its with Famous.

and no, I don't work for Famous!!!

my advice to everyone for any insurance is to shop around and read the PDS, especially the 'what is not covered' as that's what people need to ensure they are aware of.

cheers,
Chris

[evil_weevil]

Also,
going through a claim with Famous now, unfortunately wife ran up the back of someone in traffic in the 4WD!!
I'll let you know the claims service from start to finish. Lodgement was simple and easy and now we just need to get the car to the repairer to be fixed. Choice of repairer so no issue there, however from where we are up to, its been quite painless so far.

i'll also update my renewal process in July this year.

[gslender]

Got a few cars, so might look into this

[enthuzed]

Great to read allow that. Shannons were going to get the nod but it sounds like there is a better choice...

[greasemeup]

Does choice of repairer mean, if your not happy with the repairs, that your on your own, insurance company won't get involved?


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[rascal]

Does choice of repairer mean, if your not happy with the repairs, that your on your own, insurance company won't get involved?

No, it means that you can choose which repairer who repairs your car, rather than having to take your car to a dodgy shop just because his quote was cheapest and that's all the insurance company will pay.