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Collector Car Insurance - Thoughts

Started by racertb, January 12, 2014, 11:17:31 AM

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racertb

About to renew my Hagerty policy I've had for many years with no issues.  Just out of curiosity, I looked into a policy with Grundy and found out I could get more coverage, better towing benefits, etc. all for $100 less annually. 

Any if you have Grundy or someone else I should consider?  I renew at the end of the month.

Thanks in advance for your input.

chetbrz


As an FYI, I use Grundy and haven't had any issues but I haven't had any claims.  When you have a claim that's when the rubber meets the road.  To date I haven't heard anything negative about either.  I would suspect you wouldn't last long in the Antique car insurance area with a bad reputation.  I went with Grundy because they are kind of local to me and I figured they weren't as prestigious as Hagerty so maybe they would appreciate my business more.

So all I can say is they are very easy to work with, establish a replacement value, and give money to.  I hope if I ever have a claim that it will go as easy as my payments.  When I inquired about driving.., the agent for Hagerty said no Sunday driving.  The only driving allowed was to a bona-fide car show event.  Grundy was more liberal with the use of the car as long as I didn't use it for everyday driving activities.  Test drives were OK, no distance requirements.  Driving the car cross country for a car show was also OK with them.  You just can't drive it everyday to work, school, or the store etc.  Which BTW is the same as my Antique Car Tag limitations.

My 2.5 cents,  Chet...
http://www.1948Plymouth.info           Web Master - Forum Administrator - AACA member

Gary 30U

Hi Guys,

When I got my 30U, some ten years ago now, I looked at different ways of getting insurance, thinking I had to get some special antique car coverage.

I ended up talking to my regular State Farm agent and he said he could cover it with no problems. The only restiction is that it is licensed as an antique vehicle and abide by those rules. No special restrictions. I drive to shows, tours, and meetings all the time.

I have a declared value ($18,000) full coverage policy with $100 deductible on comprehensive, and $250 deductible on collision. To date the cost is less than $160 per year.

As indicated elseware the proof will be in the pudding if I crash it, but to date am prefectly happy.

Happy Motoring,
Gary R.

Old Man

#3
I wasn't going to chime in at first but I couldn't resist as the declared value in the previous post,$18000, is the same as mine. I have the same restrictions,no driving to work,no after dark driving,no paid weddings or funerals,only car club/shows/cruises and related outings. I pay $106 Cdn. to Zehr Insurance and the underwriter is Royal and Sun Alliance Insurance of Canada. The Pl/PD is $2,000,000 and the collision and comprehensible deductible is $500. They will cover towing costs to $1000 per occurrence and spare parts that I own for said automobile up to $7000 (because of theft/fire? Not sure.). I've never had a claim,I'm 70 years old,married, home owner and I've been a licenced driver since 1960 (No accidents,of mine, and no tickets). Category is 01 -Pleasure. All this from the policy.  (It also shows I had a Defensive Driving Course with the Canadian Military when I was 28.)

frankp

I've had American Collectors Insurance, Inc. for years.  Pretty basic policy for about $120/year.  Could probably save some money by changing dedcutibles from $0.  No claims - they're happy and so am I.  They previously had mileage limit, but believe they nixed it in 2012, at least for my policy.  Will renew in March.  Thanks to this discussion, I will look at alternatives.
frank p

racertb

Well, my current quote is for agreed value of $25k for my Roadster, maybe high, maybe not, for $174/year through Grundy.  Zero deductibles, etc.   Hagerty is $267/year for $20k agreed value...anything more requires an appraisal.  I called Allstate (my insurance for everything else) and they write it through Grundy or Hagerty but told me to just go through them directly since it would be the same premium.  I could probably save more by lowering my agreed and adding deductibles.  I'm only hesitating switching since I've be with Hagerty for 12 years.

Old Man

Silver Wheels ,one of the biggest outfits, has started not wanting an appraisal anymore. They only ask for 5 color photos taken from different angles. You set an "agreed value" on it and that's it. The other companies are following suit. If you want to put $100K on a $20K Plymouth then they have to have an appraisal. I have a truck coming out of restoration shortly and I will just send in the photos and set the agreed value most likely around the $20K point. In my experience accidents are very rare with these old vehicles,I've only known one in 35 years, and I've always assumed it would be a fender bender in any case. In which case it would not take $18K to repair it and this of course is only if it's my fault. And I can't see me hitting anything as I'm yet to do that in some 54 years. The only problem would be outright theft of the vehicle but that's getting also rare now because the young crowd can't drive sticks anymore let alone start the thing. And anyways the vehicles are never really out of sight and under lock and key at home. (That one accident I did hear about concerned a 1932 De Soto convertible that stuck it's nose out in traffic ,from a stop sign, in Toronto to see better and had it removed by oncoming traffic. This was many moons ago.)         

chetbrz

Hi racertb,

I agree with the Old Man.  I have my cars set at a reasonable value with a 500 deductible I think I pay as much for both my cars as you are paying for one.   The agreed upon values are fair but of course not what I think the cars are worth but worth what I have invested in them to restore.  Enough to cover my investment without the insurance bleeding me dry.  Liability is cheap and worth the upgrade to protect your home and assets.  I'm more worried about that then loss. 

Just my 2.5 cents,

Chet...
http://www.1948Plymouth.info           Web Master - Forum Administrator - AACA member

racertb

Thanks for the information...it may be time to change from Hagerty.  I just got a quote online for American and it was higher than Grundy.  I don't see Silver Wheels (Hagerty Silver Wheels) offered in the states.

Old Man

Silver Wheels must be offered in the northern States because I read a friend's Hemmings mag last year that had a photo of the Silver Wheels black awning/tent and the girls at a show in Ohio ? 

racertb

Must be...although I have a good driving record, I live in Florida and both Grundy and Hagerty require a zero deductible.  That probably explains the higher premiums compared to what you guys are getting.  Either way, saving money with Grundy.