Of course I'm ready to buy insurance a week after Grundy is sold...

[Bonkers]

This week just keeps getting better and better....

The premiums on the Viper have skyrocketed the past few
months, and I don't have an Agreed Upon Value, so I went
looking for new insurance. Hagerty and JCTaylor both have
limitations on driving so I decided on Grundy. Low an behold -
I called today to start the policy and Grundy is no longer
offering single car policies. You now need 4 cars valued over
$75,000, and one has to be a daily. The rates aren't much
better than what I have so other than the AUV there is no
point continuing with them.

So my question - anyone have any leads on another collector
car/cheap insurance company that will: insure a rebuilt vehicle,
have no mileage restrictions, and have AUV?

 

[Lespauldude]

Good Lord, looks like I got in just in time. I got a policy from Grundy @ 3 weeks ago with AUV and no mileage limit. In fact, it was just about half the price quoted to me by Barrett Jackson. When BJ called me to see what my decision was I told them about going to Grundy because they were so much cheaper. I asked her why BJ was not as competitive and all she could say was that they "just changed their underwriting guidelines". You may get a bead on an answer from some of the previous threads on this subject. Good luck and let us know.

 

[TowDawg]

Yep! I contacted Grundy last week and was told that I didn't qualify since I only had 3 vehicles and I had to have 4 to qualify.

 

[v10enomous]

I got a quote from Grundy last week for just my 98 and an 08 coupe.

 

[bmw2nv2000]

I just called them 2 weeks ago and was told have to have 4 vechicles too. Oh well it sounds like the new policy is keeping away customers.

 

[v10enomous]

I already have a policy with them so maybe that's just for new policy holders...

 

[v10enomous]

I just checked the email and it was actually Tuesday 10/25. The policy is actually underwritten by Philadelphia Insurance Company.

 

[WAM]

I just renewed my insurance with Chartis Insurance (Barret Jackson Collector Car Insurance) for an agreed value of $43,000 and it cost me $242 for the year. The only restriction I am aware of is, no drivers under 25 years old.

 

[Camfab]

Try lelandwest.com

 

[shooter_t1]

Try lelandwest.com

That's who insures my Viper.

 

[Bonkers]

Try lelandwest.com

Holy crap! I don't want to sound ungrateful because I am
only saying this out of concern - The instant button just
quoted me $1,600yr/2500m (unmodified) and I was being
conservative on the value I want! I have Nationwide at
$1,200yr/Unlimited and Grundy quoted me
$450yr/Unlimited. I think Hagerty was at $520yr/3000m.

I think that may be the single highest insurance quote I have
ever gotten on a single car without a court being involved.

 

[shooter_t1]

Holy crap! I don't want to sound ungrateful because I am
only saying this out of concern - The instant button just
quoted me $1,600yr/2500m (unmodified) and I was being
conservative on the value I want! I have Nationwide at
$1,200yr/Unlimited and Grundy quoted me
$450yr/Unlimited. I think Hagerty was at $520yr/3000m.

I think that may be the single highest insurance quote I have
ever gotten on a single car without a court being involved.

Wow, I have my 09 insured with the 6000 mile plan and am about $600 less then your quote. I have it valued at what I paid for it new.

 

[ZYellow01RT]

Sorry to hear about Grundy's "changes". I'm a customer and hadn't been aware of them.

Now I'm wondering if they will renew existing policies for people who don't meet these new rules, come renewal time.

Does anyone know?

 

[01sapphirebob]

Sorry to hear about Grundy's "changes". I'm a customer and hadn't been aware of them.

Now I'm wondering if they will renew existing policies for people who don't meet these new rules, come renewal time.

Does anyone know?

I would think they would otherwise they would lose a big portion of their business.

 

[Camfab]

Wow, that is high. I had them in 2004 and it was right at $800/ yr for 50K agreed value. Sorry

 

[PDCjonny]

You guys won't believe the policy I got from BJ when they were trying to drum up business and a lot of us jumped.
110K agreed value and 60K agreed value on my '10 and '97 respectively.
$795.00 for both cars together.
Up for renewal in February.

 

[v10enomous]

That's damn good especially for Long Island.

You guys won't believe the policy I got from BJ when they were trying to drum up business and a lot of us jumped.
110K agreed value and 60K agreed value on my '10 and '97 respectively.
$795.00 for both cars together.
Up for renewal in February.

 

[Camfab]

You guys won't believe the policy I got from BJ when they were trying to drum up business and a lot of us jumped.
110K agreed value and 60K agreed value on my '10 and '97 respectively.
$795.00 for both cars together.
Up for renewal in February.

Wow is all I can say, you should send your premium in for the next five years.

 

[Viper Specialty]

Crap... I hope this doesnt affect existing customers!

 

[Viper Specialty]

Just got off the phone:

Philadelphia and Grundy SPLIT, that is the cause. A non-compete has caused Grundy to create a new type of "Daily Driver/Collector" policy, of which 4 total vehicles are needed.

-Current customers and NEW customers with Single Vehicle Policies now are to deal directly with Philadelphia, not Grundy. Philadelphia was writing the policies before for Grundy, so things shouldn't change.

-Multi-Car, Boat, Plane, Personal, and Business Insurances are still available through Grundy directly.

 

[Lespauldude]

Taken off of the Grundy website :

"As of October 20, 2011, Philadelphia Insurance (PHLY) has assumed administrative responsibilities of policies previously issued under the name "Grundy Worldwide" in all states except Massachusetts and South Carolina.

In 48 states, PHLY has imposed a "non-compete" on Grundy Insurance at the current time, which prohibits us from writing new Collector-Car-Only policies. We hope that in the future, the non-compete is reversed, rescinded or expired. Until that time, we can insure collector vehicles, but only in conjunction with other policies."

 

[VYPR BYT 94]

Id like to go on record as saying "I absolutely hate insurance companies "!

 

[Bonkers]

I've been looking into this more. Looks like they set up a merged
company now: grundy-phly.com The instant quote is higher, but no
where near as high as the others. I will probably call to talk to
them tomorrow and will update later.

 

[AZTVR]

Id like to go on record as saying "I absolutely hate insurance companies "!

Just had my truck fixed like new after someone hit and run sideswiped it. I'll go on record saying that I love my insurance company.

 

[bushido]

I see some low cost, but what amount do you guys have for coverage on " bodily injury,property damage, or uninsured motorist bodily injury" etc??

 

[coupe]

Got my "renewal" from grundy last week and it said nothing of the change... Glad I saw this, as I want to call them first to make sure I'm not sending a check to the wrong place.

 

[Bonkers]

Just had my truck fixed like new after someone hit and run
sideswiped it. I'll go on record saying that I love my
insurance company.

You say that because you don't realize how much insurance
you paid for the privelage of having your truck fixed. If I had
put all of my car insurance premiums in a low interest savings
account and never touched it again (not saying I would have,
just saying if) I would have well over $200,000 in savings right
now. Not incluing the cost of insuring the insurance company or
its employees, or the body shop and its employees, or the
transport insurance for the fuel, materials, and car itself.

Conservative guesstimate, assuming you haven't had any
major issues in the past ten years or so, you probably paid
$50-60,000 in insurance costs to have your wrecked truck
fixed "like new." You literally pay insurance on everything -
a penny here, a penny there adds up to millions over your
lifetime.

... unless of course you actually believe companies absorb
their insurance premiums instead of passing them to you
because they're good guys. In which case I geniuenly
envy you.

 

[TowDawg]

I see some low cost, but what amount do you guys have for coverage on " bodily injury,property damage, or uninsured motorist bodily injury" etc??

I have my limits at $300k. After that my umbrella kicks in.

 

[AZTVR]

You say that because you don't realize how much insurance
you paid for the privelage of having your truck fixed. If I had
put all of my car insurance premiums in a low interest savings
account and never touched it again (not saying I would have,
just saying if) I would have well over $200,000 in savings right
now. Not incluing the cost of insuring the insurance company or
its employees, or the body shop and its employees, or the
transport insurance for the fuel, materials, and car itself.

Conservative guesstimate, assuming you haven't had any
major issues in the past ten years or so, you probably paid
$50-60,000 in insurance costs to have your wrecked truck
fixed "like new." You literally pay insurance on everything -
a penny here, a penny there adds up to millions over your
lifetime.

Yes, I have actually looked at it that way. I think that your numbers might be a bit high for my situation; but, you really are not far off base. It's all a gamble.

 

[Viper Specialty]

Well, sorry to say, exactly that I thought was going to happen- DID.

I just got my renewal from Philadelphia- it is a 40% increase over what it was when Grundy held the policy. They can take this bill and shove it.

I guess I will be finding a loophole to add this car to my business insurance with Grundy instead.