Grundy Experiences?

[agent]

Grundy was fine with my E39 until I sold it last March. No $1000 beater by any stretch, but they are quite affordable these days if you can find one worth buying.

It's of no consequence to the single guys, but those of you with spouses and/or offspring of legal driving age living at home must have a daily driver for each and every one of them.

[jeffnhiscars]

A relatively new car does not have to be expensive to be a relatively new daily driver. Both Grundy and Leland West ask you the make/model/year of your DD, not how much you paid for it.


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I never said what you paid for a car had a bearing on whether it would be accepted as a DD. Hagerty and JC Taylor have a hard limit on age (5 and/or 10 yrs IIRC) and Grundy was clear that your DD couldn't be as old as your classic. All told this tells me that a $1000 would not meet their standards...which was my point

[Mwishlist]

I did check back into Hagerty, I may end up calling them. I used to daily my vert but now I have a newer car and as much as I am all about dailying the e30, I have enough in it now where I would prefer to have some decent coverage if something happens.

[geovangelist]

No Classic insurer will give you a policy with a $1000 beater. They each require at least one releaively new car for each licensed driver in the house....and only a dick of an adjuster would quote KBB on an e30. Regular insurers go by FMV and for more recent cars so KBb is a decent source of data. So is the Mannheim Auction sheet and calls to local dealers where you won't find anything on an e30.

That leaves us to make our case about value based on ads, documented sales etc etc.hagerty and Grundy have their own data but I have never heard of either of them pay 2x what a car is worth just because you "stated" that amount. It's a myth. They are cheaper cause they restrict your use and know the market, but they are still a for profit business.

A relatively new car does not have to be expensive to be a relatively new daily driver. Both Grundy and Leland West ask you the make/model/year of your DD, not how much you paid for it.


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[agent]

As for valuation of e30's, they seem to be alright in the $10k-$15k range agreed value, but much higher and they will require a certified appraisal or documented receipts.

That was not my experience when I raised the agreed value of my red car a couple of weeks ago, although I've had a policy with them for a few years.

[e304lyfe]

Just recently worked through the process of trying to get collectors insurance on two of my e30's through Grundy.

As for valuation of e30's, they seem to be alright in the $10k-$15k range agreed value, but much higher and they will require a certified appraisal or documented receipts. More then one customer service representative told me that they would not accept any kind of comparable sold cars, etc. They really pushed for the certified appraisal.

They require you to sign a document that clearly states you do not use the vehicle they insure as backup transportation. No driving to work, school, errands, etc. Responses will vary depending on who you talk to at Grundy about very occasional use going to work/school/errands. You probably want to think twice about it, as they are not the people investigating an incident if you do have to make a claim. It is clearly in their best interest to deny claims if you were caught in a questionable situation.

In the end, after jumping through all their hoops, I was denied getting insurance through Grundy for a driving incident over 10 years ago. ....and was told they will likely never be able to insure me, "maybe if the incident was 30 years ago" is what the agent told me. So just a word of caution, that even if you have a clean driving record in the last 5 years (which is what they claim to look at)... they may just dig deeper.

[jeffnhiscars]

No Classic insurer will give you a policy with a $1000 beater. They each require at least one releaively new car for each licensed driver in the house....and only a dick of an adjuster would quote KBB on an e30. Regular insurers go by FMV and for more recent cars so KBb is a decent source of data. So is the Mannheim Auction sheet and calls to local dealers where you won't find anything on an e30.

That leaves us to make our case about value based on ads, documented sales etc etc.hagerty and Grundy have their own data but I have never heard of either of them pay 2x what a car is worth just because you "stated" that amount. It's a myth. They are cheaper cause they restrict your use and know the market, but they are still a for profit business.

[geovangelist]

Nah Probably just going with Hagerty. Then I can declare whatever value I want.

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Right on. I found Grundy to be an even better rate with similar coverage and limits. Both have agreed value.


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[Aleman]

That's a great call! A $1,000 beater will meet most insurance criteria as long as it's new enough, though you will take a small hit on the additional insurance premium. If it's only worth $1,000, you might be able to afford to keep the state required liability insurance, which will keep it cheap.

Have you thought about getting an independent appraisal of your E30 and then approach some of the "regular" insurance companies to see what it would cost to write you an agreed-value policy? Then, if one of the companies says yes, you could scrap buying the $1,000 beater car in the first place.

Nah Probably just going with Hagerty. Then I can declare whatever value I want.

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[MR E30 325is]

Once they say 10x/yr is ok I cant see it ever mattering as long as your coworkers dont say its was every day (as they update their resumes...lol). If you ever do have an accident to or from work I cant see them trying to figure how if that was the 11th trip :-)

My thoughts exactly.

[Nick's e30]

Normal insurance companies use "stated" value; so if you say it's worth 50k, they'll charge you like it is but when it comes time to pay up, use the lesser of agreed value and NADA/KBB.

I've used Hagerty; their use policy is the best by far. I've made the switch to Grundy this year as of adding my 01 M Coupe to my "pleasure only" policy as a standard policy did not give me enough coverage (NADA hasn't caught up to the value of the M coupe just yet). I'll never drive the car to work (it's a long ride), but I have no mileage restriction and it's 1/4 of what Hagerty quoted me for 2 cars.

I hope I'll never have to make a claim but I will share how they are through the process if I ever do.

[agent]

I think it's pretty well documented that an agreed value policy with a "regular" insurance company is an apples to oranges comparison to one which specializes in classic cars, unless your agent is underwriting for one of the classic companies.

[geovangelist]

As I wait for my E30 to finish its body & paint makeover, I'm struggling with the right way to cover it with insurance. I know I want an agreed-value policy, so I'm seriously considering buying a POS $1,000 beater to make as my primary. As I've mentioned earlier, I mostly ride the train to work or drive the one family car. Forcing me to have 2 dailies is not fair, and I have to get creative. I will then be paying for the agreed-value policy on the E30 AND regular insurance on the beater. Surely there's a better way. I just haven't found it yet.

That's a great call! A $1,000 beater will meet most insurance criteria as long as it's new enough, though you will take a small hit on the additional insurance premium. If it's only worth $1,000, you might be able to afford to keep the state required liability insurance, which will keep it cheap.

Have you thought about getting an independent appraisal of your E30 and then approach some of the "regular" insurance companies to see what it would cost to write you an agreed-value policy? Then, if one of the companies says yes, you could scrap buying the $1,000 beater car in the first place.

[jeffnhiscars]

When I first insured my cabrio and E12 with Hagerty, I told them I wanted to drive each car to work approx 10 times a year. They said that was ok.

After a couple of months I called them back and told them I wanted to drive the cars more often. They asked how often and I told them approx 20-25 times per year each. They told me that was ok also and noted it in my file.

I do keep them both under the 2k miles per year limit, and have not had to make a claim.

Cory

Once they say 10x/yr is ok I cant see it ever mattering as long as your coworkers dont say its was every day (as they update their resumes...lol). If you ever do have an accident to or from work I cant see them trying to figure how if that was the 11th trip :-)

[amcp]

I made the move to Hagerty. Every other classic insurance said I couldnt use when it was nice out and I wanted to drive it to work once in a while.