Car Insurance Quote Discrepency: Hagerty's vs Grundy

I had the same experience except I went from Hagerty's to Heacock Classic.

All that marketing stuff Hagerty's does is $$$.

 

I’ve been with Heacock for 10 years, Grundy just beat there quote by 50% .
D.

 

I'm with Grundy for my '84 308QV agreed value $110K for $575 annually. Hagerty is one of the most expensive insurers.

 

Switched from Hagerty to American Modern 2 months ago.

1980 GTSi, agreed value of $50 k, annual premium of $228.00 USD

But still, lots of apples vs. oranges stuff going on here, so be certain to review the coverage details so to ensure a fair comparison.

 

I assume you can quit Hagerty at any time and go to Grundy and get a refund from Hagerty for the unused balance of the policy. No need to wait till the Hagerty policy expires.

 

I've heard the same about Hagerty's being substantially higher from several car collector friends.

 

Curious to know from posters here.
Are you not concerned about the caveats and small print on these lower cost policies? iow I received a competitive quote from Classic Auto, a significant savings except that the policy states I will only use the car for car shows and leisure rallies and mileage is limited and drivers are limited (no other persons, no child until they're 25). It can't be used for grocery shopping or in a mall. Definitely not for daily driving & work. These restrictions bother me so I have not signed up and I am still paying lot of money with my basic carrier.
I have not shopped any further. Do the carriers listed above have those restrictions too or is it just the outfit I picked. Also I think one of them (maybe it was Hagerty ) doesn't insure in NY anyway.

Aren't you guys concerned about being denied a claim if it falls in the gray zone of coverage?

Al

 

Due diligence as always, I checked with a broker friend he recommended Grundy..
D.

 

One thing to be aware of, my umbrella policy with state farm states ALL vehicles must be insured by them, for the umbrella to cover the vehicle...

Not sure if thats standard.

But if you own a 308, I would hope you have way more than 300k in liability...

 

After what State Farm did to Florida after the hurricane never would I and most of my friends consider them.

 

Read the policy...

 

Nothing, really. Just alerting folks to make sure their umbrella is active if the use haggerty or Grundy. That's all. Reading my umbrella simply states all cars must be insured with State Farm for umbrella policy. Doesn't state the consequences, just states that.

My agent implied if I used a third party for the testarossa, the umbrella may not be in effect.

 

Very good point. Guys on here worry so much about the property side that they forget about the liability part of the policy. I go on drives where there might be an Enzo in front of me driven by a brain surgeon and an F40 behind me driven by a pro athlete. If we get into a chain reaction crash, I want my multi-million dollar umbrella in play. In order for that to happen, the primary policy has to be acceptable to the umbrella underwriter AND has to actually be listed on the umbrella policy. If you have a broker doing the placements for you, they will be sure to coordinate. If you go one-off, this is something easily and often overlooked.

Regarding those policy limitations, they save you a lot of money if you never violate any of them. But drive your car to work one day because your DD is in the shop, or to show your buddies your car, run to the store to get a loaf of bread, or drive 1 mile over the mileage limit and you run the risk of having your claim denied. You save a lot because you have agreed to limit the insurer's exposure to potential loss by a lot.

 

Grundy declined to quote me just bc I have an under 25 yr old driver in the household

 

I often wondered if courts limit liability for defendants if they hit uber expensive cars...

If someone is fortunate enough to own a 25mm$ GTO and drives it on the street, Joe Schmoe average guy with even a generous 5mm$ umbrella is going to be financially wiped out if he hits that car. Its an almost unwin-able and unpredictable scenario. No one carries that kind of coverage...

What do courts do in that scenario? I can't believe they bankrupt the defendant...

 

They let the damaged car's insurer pay the claim. That's why we buy collision insurance. They would have the right to subrogate. But you can't get blood out of a turnip.

Posted from deep in The Hollow.