Another Insurance Thread

[PJJP]

I currently have State Farm. I am happy except the fact that all my upgrades will likely not be covered in a total loss.

So I went shopping..and like many others..found Grundy from recommendations on this site. They will do the stated value I am looking for with unlimited mileage. However, they want me to sign the document 'Acceptable Use' that states that I will not drive the car to work, to run errands, or as a backup vehicle. Joy riding is perfectly acceptable.

The Grundy rep told me independent ins. agent that occasional trips for work, errands, etc. on nice days would be fine. This conflicts with the written document. I am waiting on a clarification that I will require to have in writing stating that is IS ok to drive to work, errands, etc.

I do not want to be out joy riding, have my wife ask if I can pick up some milk on the way home, get in an accident, and have it totally denied because I had a bag of groceries sitting next to me. Same thing could happen if I just happened to stop by my office and someone smacks the car in the parking lot.

How many of you who have Grundy have had to sign the same doc and how many have not?

 

[ViperCr8zy]

I've got Grundy, and I had to sign the paperwork. It still makes me reconsider when I go to drive my collectibles. Often, it's the trip to the hardware store to pick up that one screw you forgot that would be perfect to take the car and enjoy the ride (and lessen the aggravation from having forgetten that one screw in the first place!). Its agreed value is great, but it has prevented me from enjoying my cars as much as I would have otherwise.

 

[Jeff Monheim]

Do they consider laps around a track "joy riding" ? And in that case covered?

 

[Viper Specialty]

PJJP- I am currently dealing with a massive State Farm claim for one of my customers right now. As long as you have documented reciepts and/or an appraisel of the vehicle, they will work with you in the event of damage/total loss. I have dealt with them twice now on modified cars w/claims, both 50K+ in damage, and they did not balk at the cost to repair/replace, whether OEM or aftermarket, they just wanted documentation to prove what the items had cost.

I light of this, I actually highly recommend State Farm as an insurance carrier, they have done well in my opinion when it came down to supporting their customers.

 

[PDCjonny]

You can't have it both ways.
You will be paying a lot less with Grundy, and have agreed value. In exchange they insist it is not your daily driver and grocery getter. I think if you are going to use your car now and then for those purposes, you have to pay up with a regular policy. I have Grundy for both of my cars, and follow the terms I agreed to. In exchange, for a mere $750.00 a year, THEY have to cut me a check for 65K if I wreck one. Since the cars are a weekend toy for me, it works for my lifestyle. It would not be worth it to get involved with possible grey area if you are involved in an accident.

Geico wanted double the rate, with NO agreed value. And that's a clean record with no accidents or speeding tickets, ever.

 

[01sapphirebob]

I have State farm and have had no issues. I'm 26 and I feel I pay a very fair rate. I don't have an agreed value but I think state farm does stated values for thier cars. something to look into.

 

[2001-V10 Power Nut]

I currently have State Farm and was considering a move, however, a ticket from 2 years ago prevented the move. An independent agent had gotten a "stated value" quote from a company called "chubb". It was very competative and the stated value was well above what my car was worth. You may want to check into "chubb"

I have not had a problem with State Farm, I was just price shopping

 

[cash84]

Well I have Progressive because thats the only insurance agent that could cover me. At 24, with only one accident and probably 2 speeding tickets in the past 3years, I'm paying 3k every 6months I knew my risk and I took it because at least it puts me into keeping myself speeding too much. lol. I tried to get state farm but umm my record is lil bad til next year I can give them a call back. As for what I have for Progressive I got the SRT as my secondary car.

 

[xlrashn]

I have State Farm as well. I am very pleased with them, and they give me the best rates. I am 39 an have a decent driving record and I only pay $178 every 6 months for full coverage with 500 deduct and I can drive wherever I wish whenever I wish. I have yet to find any carrier that can even come close. I could'nt be happier.

 

[2001-V10 Power Nut]

$178 for 6 months??? How is it that cheap??

 

[PJJP]

ViperJon, Grundy actually wants a bit more than State Farm.
01sapphirebob, State Farm does not have a stated or agreed value policy, at least not in Texas.

The main problem with the value is that the car has just about every mod one can do including the full UGR treatment.

 

[PDCjonny]

ViperJon, Grundy actually wants a bit more than State Farm.

That's the point.
With agreed value, you choose how much value you want to place on the car, not hash it out gathering God knows how many receipts to argue about the cars worth.
I don't want to recover what the car is worth, I want to be able to go buy a BETTER one.

Agreed value/check in hand/ new car better than you had.

 

[Viper Specialty]

The main problem with the value is that the car has just about every mod one can do including the full UGR treatment.

As does the car I am rebuilding right now. It has over $80,000 in modifications, and State Farm has acknowledged that, even after the fact. No stated value. You are worrying about nothing as it is. Just get the car appraised and put the reciepts in a safe.

 

[xlrashn]

$178 for 6 months??? How is it that cheap??

Never asked for an explanation....just pay and smile!!!! I know it is the right amount as I just paid for the next 6 months last week. I do get a multi vehicle discount (about 12 of them) and that helps, and my homeowners is there as well. Even my Hayabusa is only $265 for a YEAR with a $500 deduct as well. As I said....very happy!

 

[2001-V10 Power Nut]

Ok, that explains a little, "12 of them", enjoy!!!

 

[01sapphirebob]

I could be wrong. I thought I remember them saying the last time I looked into it that they did something like an agreed value (at least in ohio).

 

[PJJP]

Dan, thanks for the input. Any advise on where to look for an appraiser? I suppose I could get all my receipts and appraisal and put them on file with State Farm.

 

[ViperCr8zy]

I've never seen a qualified appraiser in my area. The last time I had a car appraised for a buyer's bank (a '70 LT-1 Vette), the appraiser came out and said "nice car - I haven't seen a Corvette this old in years". He had no idea what an LT-1 was, but fortunately the book he used to assign value did. In the end I was okay, but I wouldn't call it a real appraisal, and if anything had been modified on the car that added value, I would have been up a creek!

 

[Viper Specialty]

Dan, thanks for the input. Any advise on where to look for an appraiser? I suppose I could get all my receipts and appraisal and put them on file with State Farm.

Yes, you could.

There are many professional vehicle appraisers out there, I would suggest going around to high-end body shops in your area or contacting some local car clubs {big vette clubs or muscle car clubs} as they will likely have a few guys they use.

 

[PJJP]

Dan, will do. Thanks

 

[GTSNRT10]

How funny I was going to talk to you about this very thing PJJP!! It does make me nervous knowing my upgrades are worth WAY more than my car However, State Farm has proven to me time and time again (I own a collision shop) that they stand behind their customers with documentation They took excellent care of me on a very expensive comp claim personally as well.

 

[PJJP]

Honestly,

After hearing input from this thread, I am feeling like sticking with State Farm with docs, photos, and appraisal.

 

[ViperTony]

The fact of the matter is that Grundy is collector car insurance, not daily driver insurance. If you plan on taking your Viper for joy rides, to work, to 7-Eleven or even ******* then Grundy is not for you. I have several emails going back and forth with Grundy which supplied me with many answers to my questions. I wanted to make certain that if I did stop at ******* on my way to a VCA event and something happened to my Viper in the ******* parking lot that I would be covered. They said 'yes' and said 'yes' to many of my scenarios I put forth. Including the scenario about taking the Viper on the track for a non-timed, instructional course. They said 'Yes', covered.

At the end of the day, I still had to sign that form. Even though I printed out my email communications with their agent and attached it to the forms I sent back to Grundy, there's no guarantee that Grundy will cover me if some ******* plows into my Viper at ******* unless perhaps it's an official Viper event. Based on my driving habits Grundy fits me but I will not hesitate to change insurance once I start tracking again next year.

 

[V10 PWRD]

I had State Farm for years until a drunk hit my car from the rear doing 50 while I was just leaving a stop light. He was arrested and charged with a DUI. Luckily I was moving and the impact wasn't as bad as it could have been. I received a check from State Farm for the value of the car, which was totaled, and noticed it was about $500 light. I called my agent and said something isn't right. My check is short. He then starts a song and dance saying that I had a $500 deductible and they took it off. I about blew up at this statement and refreshed his memory that a convicted drunk driver hit me and now State Farm is going to try and screw me out of $500 for something that wasn't my fault? BS. I told him it was State Farms responsibility to subrogate with the drunks insurance company and get that money. How in the world could they penalize an innocent driver. Needless to say I got my $500 and dumped SF. If I hadn't noticed the discrepancy they never would have given me the difference.
Maybe things have changed over the past few years but they sure left a bad taste in my mouth.

 

[toomanymodz]

I've got my viper and chevelle covered with Grundy for an agreed value of $135k. They never asked for an appraisal. At one time I had the viper covered under State Farm, but when I bought the chevelle, Grundy covered both vehicles for less than the cost of one with State Farm.

I still have my daily driver with a State Farm policy. Grundy requires that you have a daily driver. They insure car collections, not daily drivers.

The nice thing about Grundy is that it is an 'agreed value' policy, no deductible, no mileage restrictions etc. Insurance in florida is much higher than in other states, but at only $1730/year, I can't complain.

 

[ViperTony]

I've got my viper and chevelle covered with Grundy for an agreed value of $135k. They never asked for an appraisal. At one time I had the viper covered under State Farm, but when I bought the chevelle, Grundy covered both vehicles for less than the cost of one with State Farm.

I still have my daily driver with a State Farm policy. Grundy requires that you have a daily driver. They insure car collections, not daily drivers.

The nice thing about Grundy is that it is an 'agreed value' policy, no deductible, no mileage restrictions etc. Insurance in florida is much higher than in other states, but at only $1730/year, I can't complain.

I was never asked for an appraisal either. They simply asked me how much I wanted to insure the car for.