Grundy vs. Hagerty

In response to TTR.

I remain insured with Hagerty since the 2017 claim and, in fact, my annual premiums are currently slightly lower than they were in 2017. In addition, when the vehicle was in two different shops for several months, I received a check for roughly 50% of the annual premium.

 

Glad to read yours worked out better than some others I've seen or know of.
While I've never had a need for claim (<knocking-on-wood>) on any my vehicles, modern or vintage, I know several individuals who had their (vintage car) policies cancelled or premiums significantly increased (essentially forcing owners to look for an alternative) at next renewal cycle after a (major) claim, hence my generalized cautioning.

 

USAA for all my vehicles 30+ years.

 

One concern I personally have with one of my vintage cars is that getting any carrier to provide reasonably priced agreed value policy to what I believe sufficient amount of coverage since the car in question is pretty much a one-off and unique with no comparable (apples-to-apples) data available.
And that concern is not about some potential windfall in case of an accident or theft, but rather to have enough funding available to fix it correctly and prevent obscenely low salvage/total loss settlement in case of even some minor incident.

 

I've insured with American Collectors for the last 8 years and their rates have been very reasonable.

 

I had used Grundy before Hagerty. I did not enjoy my experience with Grundy at all.

 

That is the point of an "agreed value" policy and they are designed for your situation. Obviously you must discuss this with any potential carrier being considered and, of course, "get it in writing".

 

Reasonable concerns. I had no issue after a total loss with Grundy (my fault...or at least contributing). I bought another Ferrari and was happily added back at a reasonable rate again. I had one other claim for a few thou on a bumper on my F355 and again, didn't see a significant increase that I recall.

 

If you could elaborate, it would be appreciated!

 

Surly Haggerty were reimbursed in full by the 3rd party insurer of the SUV as you were hit in the rear.


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I use Grundy for everything.

Why? Because they were willing to insure my 2018 Pur Sang Bugatti 35B.

And when it was damaged in a building fire they made sure it was fully restored.

Matt

 

Hi Paul,

The guy that hit me had the state minimum coverage of $20k and what is widely considered to be a shoddy insurance company (Safe Auto.) You can find page after page of complaints posted on the internet about those folks not paying claims. My seat broke off during the accident & I whacked my head pretty hard on the corner of the rear firewall. Ended up having to threaten to sue them (Lawyer involved) for reimbursement of the medical bills, rehab, etc. Took months to get anything from them.

 

That seems unfair when you're an innocent party.
In the UK the minimum insurance is 3rd party, your ins company will reimburse the other vehicle you damage only but not your vehicle or passengers.
We then have fully comprehensive cover (most popular) which covers both vehicles and passengers regardless of blame providing the car you're in is legal and you're not over the alcohol limit, if caught and breathalysed by the police or proven to be driving without due care and attention.
Usually 100% of repair costs, legal fees, free loan car and any medical treatment is covered.
You receive a "no claim discount" for each year you don't claim that can be used with any insurer which you can protect for a extra small fee.
If you're an innocent party to an accident your insurer will claim back all the costs from the 3rd party's insurance.

BTW my F328 (value £70K) is fully comprehensive with Hagerty, 2000 miles per year with no restrictions for around £300 inc tax ($390).
How does this compare to US prices?

 

Without studying the lengthy Hagerty policy, it sounds like insurance in the U.S. is much different than the U.K. There are adequate limits ($100k to $500k) for liability with the expensive part being collision & comprehensive. No mileage restriction that I know of other than you must have an insured "regular driver" and a locked garage for storage. My 1988 has roughly the same value as yours and full coverage runs about $1000 per year. Also covers damages caused by uninsured and underinsured motorists.

 

I had Hagerty for maybe 10 years with up to 20 cars i bought an F12 back in 2015 they would not insure it so I switched to Grundy who saved me a bunch and insured any car I bought and no mileage restriction etc... have less cars now .. and have not had claim ...

 

Your own Comp and Collision pays to fix your auto if involved with a uninsured or underinsured driver. UM and UIM are coverages for YOUR medical , paid and suffering and loss of wages UM and UIM does not pay to fix the car....your UM and UIM limits should be equal to your own Liability limits....do not choose a lower limit or do not OPT OUT of those coverages.

 

Twice as much as anything else. I have it on all
My cars and thinking of moving. I currently without tickets pay more than 20k per year. Yes I have a lusso and f12 and 488 etc but whe. I asked them about the value on my 430 6 speed they said 50k. Not any issue but quotes from Chubb and others are much less.

Usaa wanted to I sure my house. But when we did a quote the value was too high for even their high end. And it’s less than 4m.

Would not insure a Ferrari with Usaa.




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If you are concerned about valuations, then you need "agreed value" policies. Sports Car Market magazine in their "legal side" column addresses lawsuits over valuations at least once per year and recommends everyone get agreed value policies.