Collector insurance agreed value
- Thread starter SCTBIRD1173
- Start date
I have Hagerty to insure both my CE's. 100% coverage for the first one-$342. Includes 100 mile flat bed towing, gas, and jump start. Added #2 CE. Total for both $471 a year. Valued $10K each. Regular insurance was $319 each, no collision and deductible. Value around $3k=NADA. Hagerty has some rules, you must have a newer DD, or they wont insure you. I have a friend that they wouldn't insure his Firehawk because he didn't have a newer DD. I saved a lot of $$, and got a lot more coverage.
SCTBIRD1173
Mark my Bird!
Mike, I know Grundy wasn't writing any new policies for a little while. Glad to see they will take new customers again but a 3 car minimum can be tough to meet. You can try Hagerty and I also have a friend that uses American Collectors Insurance for years and has been happy with them.
Good luck to you!
Good luck to you!
LSCmuscle
New member
I use Midwest Classic, with a policy that has unlimited mileage, $250 deductible and a $20,000 agreed value. The yearly rate appears to be a little higher than Grundy (not sure if the state I live in plays a part in that), but definitely cheaper than Hagerty. And unlike Hagerty they didn't care about the mods or limit the miles.
For those using Grundy, is your policy through "Grundy Worldwide" or just "Grundy"?
For those using Grundy, is your policy through "Grundy Worldwide" or just "Grundy"?
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LSCmuscle
New member
Scratch the question about Grundy/Grundy Worldwide. I just got off the phone with one of thier reps and they said they are both linked together. However, they also said that they would not insure a MarkVIII as a classic/collector. I mentioned the 3 car rule and they said they had never heard of that.
By the way, I checked with American Collectors and they were about $50 more on the yearly premium and two times the deductible amount for the same agreed value as Midwest Classic. Hope this info helps in your search
.
By the way, I checked with American Collectors and they were about $50 more on the yearly premium and two times the deductible amount for the same agreed value as Midwest Classic. Hope this info helps in your search
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SCTBIRD1173
Mark my Bird!
Interesting... I had no problem with Grundy Worldwide insuring my '98 but that could be because I already had a policy for my SC. Maybe they have different insurance companies write policies for them in different states. My Grundy policy is through Philadelphia Amenity.
mlschultz
Boost King
I had to switch insurance companies this month, due to a certain dyslexic 20 something year old youngster in the household that interprets a 65 mph sign as 95 mph on her speedometer. In Georgia, it is called a super speeder ticket. The policy was not renewed for all vehicles in the household because of this ticket, and a at fault accident the same driver had within the past two years. :mad-tilt:
That said, the youngster is now on her own policy, and Wendy and I signed with State Auto for the house and our 3 cars. We both work from our home office. The Mark and Mercedes are on Stated Value policies, while the van is on a normal policy as a pleasure vehicle since there is no commuting.
Annual premium for The Mark is $947 - ($125k stated appraised replacement value)
Annual premium for Mercedes SL320 is $368 - ($10k stated value)
I have not seen any restrictions on the quotes I signed, like I had with the prior policy. I will have to read the policy again once I receive the final documents.
That said, the youngster is now on her own policy, and Wendy and I signed with State Auto for the house and our 3 cars. We both work from our home office. The Mark and Mercedes are on Stated Value policies, while the van is on a normal policy as a pleasure vehicle since there is no commuting.
Annual premium for The Mark is $947 - ($125k stated appraised replacement value)
Annual premium for Mercedes SL320 is $368 - ($10k stated value)
I have not seen any restrictions on the quotes I signed, like I had with the prior policy. I will have to read the policy again once I receive the final documents.
LSCmuscle
New member
I told Grundy's rep that other people had policies covering MarkVIIIs through them, and she simply stated that they've changed some things. Not insuring MarkVIIIs as well as motorcycles were among them. I'm assuming people (yourself included) with policies existing before thier changes are grandfathered in
. That or the rep was just clueless lol.mlschultz, I'm pretty sure a "stated value" policy has a hidden clause stating "that in the event of a total loss, the insurance company has the option to pay the stated value or the actual cash value, which ever is cheaper".
racecougar
New member
Yep. We discussed that earlier in this thread.
mlschultz
Boost King
No doubt, I took the risk with a stated value policy. I suspect there will be negotiations in the event of a total loss, and I am prepared with a 3" binder full of back-up documentation to substantiate the policy value. I am sure they will at some time disclose the T&C's to me in writing, but for the moment, I cannot validate that.