Insurance Renewal Time Again

Grandadeo · January 01, 2008, 08:05:04 PM

It about time to renew the insurance on my '32 roadster. I have alway been with NSRA's favorite Insurance Agent and have had no problems with them, of course no claims either. A few friends with very similar hot rods have Haggerty and their premiums are a little lower than mine, and that's with a higher insured value. I guess my main concerns in picking a company are:
1] Their track record for claims
2] Any limitations they put on my driving - yearly mileage limit, reasonable occasional use requirements
3] And of course annual premium cost

Who are you guys with and how do they relate to my three concerns. I think my top concern is the annual mileage limit. One trip to the Roadster Show would wipe out all my allowed mileage with some companys out there. Thanks guys,

Lee

Charlie Chops 1940 · January 01, 2008, 10:03:11 PM

I've got my "40 Chevy and my '26 track roadster with Grundy Worldwide. Agreed value and no mileage limit, however I have historical plates so those restrictions apply. Haven't had any claims in the 3 years or so that I've been with them. I am more than happy with the premiums. Look at their web site to get a quote or call them.

Your results may vary.

Charlie

Uncle Bob · January 01, 2008, 10:25:59 PM

I've been with Hagerty for years, initially because they offered the best coverage for the dollar, despite the mileage limit which didn't affect me most years. By the way, they don't audit for that so I don't know how they enforce that.

A couple years ago I did my annual comparison to see if they were still competitive and found that Grundy was a little lower for slightly more coverage, so switched a couple of the running cars to Grundy. I still have the project cars with Hagerty because the Grundy rep told me they didn't cover projects because in their opinon it was too difficult to establish a value.

I never had to make a claim, but am aware of a couple claims of acquaintances on both companies and both were fair in those guys opinions.

The only other comment I would offer is to make sure you're comparing apples to apples when it comes to coverage terms, even beyond any differences in agreed value. I often see guys online talk about "I only pay _____dollars per year......" which is pretty meaningless unless all the coverage items are enumerated. Insurance companies vary rates by location and requirements for various types of coverage over and above liability limits can vary from state to state.

enjenjo · January 01, 2008, 11:04:19 PM

I have my Collector cars insured with State Farm. I know of people who have had problems with them, but last summer when I wrecked the Marlin, they gave me no trouble at all. It was fixed in three weeks, as good as new.

phat rat · January 01, 2008, 11:18:13 PM

I went with Grundy 3 years ago. I had been with State Farm with no problem, but they were stated value rather than agreed value. My premium with Grundy for driving yearround is within $10 per year of what State Farm was for 6 months driving and 6 months storage. I was upfront with Grundy on the fact that I drive my car all over including Ca. and Fl. they said no problem. I've not heard of anyone having a problem with them

HotRodLadyCrusr · January 02, 2008, 08:43:47 AM

I am also with Grundy. Comparing apple to apples their premiums are less then Hagerty with the exact same coverages. They do not have a milage restriction. Their main concern is that you have a daily driver.

I'm going to make another comment/observation here. Different underwriters charge different premium amounts and it just so happens the underwriter that Grundy uses for a $15,000 value roadster is different then the underwriter they would use for a $25,000 roadster.

Hang onto your shorts fellows,
the premium on a $25,000 roadster is $295.65 per year
and the premium on a $15,000 roadster is $368.15 per year.

Yes, the premium per year is MORE expensive on the lesser value roadster.

Take a whopping $100 OFF each of those premiums if you run a YOM or historical/antique plate.

Charlie Chops 1940 · January 02, 2008, 09:38:00 AM

Good point on the 15K vs. 25k deal Denise. I went through that when I added my track roadster. Conferred with the writer at Grundy and bumped it up.

Charlie

sirstude · January 02, 2008, 11:34:59 AM

I also had the same issue with Grundy, and when I was over for the B-B-Que build, Jack told me about the 25k issue. Raised my value from 20k to 25k on the Impala, and dropped the premium by $100 a hear. Now just over $200 a year, was $331.

Doug

348tripower · January 02, 2008, 12:07:33 PM

Quote from: "Charlie Chops 1940"Good point on the 15K vs. 25k deal Denise. I went through that when I added my track roadster. Conferred with the writer at Grundy and bumped it up.

Charlie

Do you have to call Grundy to get this information? It doesn't show that way on the online quote system they have. Also I wounder what the reason is for my 48 F1 truck being $150.00 higher than my 37?
Don

ChevyGirlRox · January 02, 2008, 12:22:26 PM

I have Grundy and I love it!
The premiums are fair, the mileage is unlimited and they are great to deal with.
The t-bucket (RIP 8.6.2006) was insured with Grundy at the time of the accident. They were absolutely wonderful in getting the claim settled and making sure we were ok. They really care about their customers and want to make them happy! (what a concept!

For more info give Nicole Marketta a call at 1.800.338.4005 and tell her Megan sent you!

*no, this is NOT a paid advertisement...i just REALLY like my insurance

*

phat rat · January 02, 2008, 12:44:12 PM

Quote from: "348tripower"
Quote from: "Charlie Chops 1940"Good point on the 15K vs. 25k deal Denise. I went through that when I added my track roadster. Conferred with the writer at Grundy and bumped it up.

Charlie

Do you have to call Grundy to get this information? It doesn't show that way on the online quote system they have. Also I wounder what the reason is for my 48 F1 truck being $150.00 higher than my 37?
Don

37 insured for more than $25,000 and historical plate? Truck insured for less than $25,000 and regular plate?

Grandadeo · January 02, 2008, 01:37:55 PM

Just got off the phone with my current agent. They have changed companies that actual insure the '32. New quote for $30,000 agreed value (same as last year) was $376.00 per year. Guess I'll do some phone calling to the other companies mentioned above and see how they compare.

Well,,, before I hit the submit button I called Grundy per Megan's advice. Would you believe $200 per year!!! Dang, it pays to ask all you good folks questions and shop around.

Lee

HotRodLadyCrusr · January 02, 2008, 02:07:44 PM

Quote from: "348tripower"
Quote from: "Charlie Chops 1940"Good point on the 15K vs. 25k deal Denise. I went through that when I added my track roadster. Conferred with the writer at Grundy and bumped it up.

Charlie

Do you have to call Grundy to get this information? It doesn't show that way on the online quote system they have. Also I wounder what the reason is for my 48 F1 truck being $150.00 higher than my 37?
Don

No, you can do it online BUT you have to completely back out of the quote feature and refresh. For some reason they won't just let you change agreed values randomly in the same quote. can't imagine why....or maybe if they did more people would be able to figure out that more coverage costs less at a certain point.

Learpilot · January 02, 2008, 03:10:16 PM

I have had State Farm from 1972. I have 5 car of which 2 are Street Rods. I have had a few claims with them and they have always been great !!!
My son had a 66 Mustang GT. On his way to work a drunk (no license, no tag or insurance) Hit him. He was hurt a little and spent one night in the hospital. He is A-OK now. The Mustang was totaled. State Farm gave him more money for his Mustang than was agreed. In Georgia if you can prove the car is worth more than you have agreed on they have to pay up.
We found several 66 Mustang Gts that sold for more so He got a higher amount. They don't have a mileage limit, but they don't want you to drive it everyday to work or school.
That is my two cents worth !
Thanks, Rick Harris

phat rat · January 02, 2008, 03:48:57 PM

When I said in the other post that Grundy was withing $10 of State Farm that was with $25,000 stated value at State Farm I have $42,000 agreed value with Grundy. So we're not comparing apples to apples more like apples to peanuts. Learpilot, I understand that you didn't have a problem. But my wife had her 96 Mustang vert totaled by a rear-ender in June 02 and State Farm wouldn't budge on their offer which was low. I was worried 6 weeks later when I hit a deer with the cpe and the estimate was $15,000 but they paid right away with no problem. However that convinced me to change as they can and will depreciate your car when all you have is stated value. That said it's your car and your money. Good Luck!