Grundy Insurance Question

[Boogie Chillin]

For those who have a Grundy agreed upon value policy, did you have to list all of your modifications to get coverage? My insurance company sent me a modification questionnaire. Pretty sure my premium will now go up. Funny thing, it stated that all modifications need to be approved before they are installed. :nono:

I was planning on jumping ship anyway because my current insurer didn't have any collector style coverage. If anything happened, I wouldn't get close to the value.

 

[cj428mach]

When I got my Cobra done I just told them I wanted it insured for $30k and handed them some pictures of the car. I was also getting my 69 Mach 1 insured and my 37 as well at the same time, and included pictures of them as well and I was good to go.

 

[Boogie Chillin]

That's what I was hoping. Thanks for the info!

 

[SID297]

I need to see if State Farm offers a plan like this.

 

[Franco]

I just sent a few pics and done deal. They are very good

 

[cj428mach]

The only thing I don't like about grundy is you're not supposed to drive for errands or to work. They do have unlimited miles but lets face it pretty much any driving falls under that.

If you go to a car show then swing into a gas station to grab something and get hit in the parking lot are you covered?

 

[Franco]

I don't think any companies allow errands or work. My 89 lx was covered by jc Taylor and they had the same stipulations

 

[DSG2003Mach1]

The only thing I don't like about grundy is you're not supposed to drive for errands or to work. They do have unlimited miles but lets face it pretty much any driving falls under that.

If you go to a car show then swing into a gas station to grab something and get hit in the parking lot are you covered?

this is why I didnt go with them. I spoke to several people and they made it sound very iffy if youd be covered during that portion of the drive. They basically said to me you need to either be going to/from an automotive repair/mod place, on the way to/from an automotive event or during the event.

I asked them what if I want to take the wife to dinner and a movie on a nice Saturday night and he paused for a minute before saying "well, if it was every blue moon, like once or twice a year then it might be ok". I was done then. Hagerty was an extra $500 (basically double) but its worth the peace of mind to me

 

[Mstngsidewinder]

this is why I didnt go with them. I spoke to several people and they made it sound very iffy if youd be covered during that portion of the drive. They basically said to me you need to either be going to/from an automotive repair/mod place, on the way to/from an automotive event or during the event.

I asked them what if I want to take the wife to dinner and a movie on a nice Saturday night and he paused for a minute before saying "well, if it was every blue moon, like once or twice a year then it might be ok". I was done then. Hagerty was an extra $500 (basically double) but its worth the peace of mind to me

I have SafeCo. Agreed Value insurance, and it works out really well. I can drive my car where ever and when ever i want. Their philosophy is if you're going to pay an extra amount for coverage, the car is yours to drive.

 

[DSG2003Mach1]

I need to shop around I guess...didnt realize SafeCo was an option. Hagerty is around 1,100 a year for 50k on 03 mach1

 

[jrgoffin]

Check with Heacock (Mustang Club of America sponsor). I have $35K agreed value on mine and it's about $500 per year. Just filled out the info sheet as to what mods are ALREADY done, and sent a bunch of pictures so they could see for themselves.

Another nice thing they did was to waive the requirement for each driver in the house to have a separate vehicle - no other company would do that. Since my wife and I work for the same company, we basically share a vehicle and the Cobra is only for fun. A little outside-of-the-box thinking is nice for a change.

 

[Boogie Chillin]

Well, I told my insurer what modifications I had done to the car, and they said they could no longer insure me. They could only insure up to the market value and not cover any of the aftermarket parts. So.... if you want to get covered for modifications if you wreck out your ride, better check your company. You could always part out the corpse if you have the time and space to recover those mods. Seen that plenty on this site.

What started all of this for me was I called my insurer see if they would do an agreed up policy for a garaged, non-daily driver. They wouldn't. Then they sent a form to list any modifications I did to the vehicle. I ignored it. They cancelled policy on all my cars. I got the notification today from DMV that I was rolling uncovered. So, I bit the bullet and filled out the form which stated I needed pre-approval to make any modifications on the car (bit late for that and you're not my momma). After talking openly about the mods and saying I do not track the vehicle, the underwriter said they could not insure the car.

So, be careful what you say. Not a huge surprise, but I want to cover my nut on the amount I've dropped into this rapid transportation system.

 

[Weslsew]

I've actually just started looking into this this morning as I just bought a house with a garage for the cobra. Right now I'm paying $1000 per year from geico. I've only gotten a quote from hagerty so far and it was $750 per year with 20k agreed value.

It would be nice to have the agreed value and save some money, but has anyone had any experience with how these companies handle claims? Liability and um are the most important part to me. I can get another cobra for $20k but I want to know I'm going to be taken care of if I get hurt or sued, and in my area at least geico has a good reputation for that.

 

[xhodzax]

i have national corvette museum insurance
agreed value@25k, 3000k miles per year, 500 deductible
$500.00 per year
i can drive it anywhere any time

 

[Steve@TF]

i have american collector car for my gt500. already had to make a claim with them once. had a tire hit the front end while i was driving on the freeway. no issue whatsoever about where i was going or anything; or paying the claim.

they didnt ask for any mods or anything. just pics and it needs to be garaged or in a "secured parking lot". cant DD it but you can take it work occasionally or a nice drive.

my buddy turned me on to them. his chevelle was stolen and they covered the agreed upon value no problem. like $30k.

once it reaches a certain threshold they do require an appraiser to come out and value the car. they required that for his 57 chevy. he actually made a claim on that one as well. they were doing work on the garage and he had to park it in the backyard and it go real windy and the neighbors poorly built fence atop of brick wall fell over on the car.

 

[jblood37]

I need to shop around I guess...didnt realize SafeCo was an option. Hagerty is around 1,100 a year for 50k on 03 mach1

Take safeco off your list of potential insurers. I had them and do not recommend to anyone.

 

[Bdubbs]

I've had Grundy for a few years, never once have I told them or listed modifications done to car for increasing agreed value. And my agreed value is 30k.

 

[5.0stang95]

Any one checked in to Barrett Jackson? I currently have state farm and they say that if the car is not 15 years old they wont put collectors on it. I pay 63.00 a month for full coverage 250 deductible, if it were to get totaled I only get the Nada value of 18k-20k. When I called Barrett Jackson they quoted me 50.75 a month for 30k coverage and up to 5k miles a year. I just need to research it a little more and see what route I want to go.

 

[tones_RS3]

I just sent a few pics and done deal. They are very good

^^this.
Although, I don't have a Terminator, I have a 2013 Roush Stage 3. Not sure if it makes a big difference or not.

The only thing I don't like about grundy is you're not supposed to drive for errands or to work. They do have unlimited miles but lets face it pretty much any driving falls under that.
If you go to a car show then swing into a gas station to grab something and get hit in the parking lot are you covered?

Car shows are covered. And of course gas stations are covered. How are you supposed to put gas in your car? Buy a gas can, go fill it up with your daily driver, go back home and fill up the toy to drive it? That's not how it works. You do need to have a daily driver and the car must be garaged at all times though in order to insure with Grundy.

I put 47k value on my car and I paid a little over 400 bucks for the year.

 

[cj428mach]

^^this.
Although, I don't have a Terminator, I have a 2013 Roush Stage 3. Not sure if it makes a big difference or not.



Car shows are covered. And of course gas stations are covered. How are you supposed to put gas in your car? Buy a gas can, go fill it up with your daily driver, go back home and fill up the toy to drive it? That's not how it works. You do need to have a daily driver and the car must be garaged at all times though in order to insure with Grundy.

I put 47k value on my car and I paid a little over 400 bucks for the year.

The Grundy policy basically says if you're driving to a car show you're covered if not everything else is a gray area, which makes it a little scary. I haven't heard of the screwing people but the possibility seems there.