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Old 02-10-2016, 02:59 PM
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sdm100
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As our cars continue to appreciate I was looking for a stated value policy rather than my current policy with USAA which does not write "stated value" policies. Hagerty was about $1900 per year with 2500 miles and 300K/500K policy and no deductible. Grundy initial quote was half (same coverage) that with $500 deductible. Am I missing something here as to why such a difference.
Old 02-10-2016, 03:26 PM
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mpruden
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Grundy and other collector car insurers will only offer you a policy if they believe you will use the car according to their definition of a "collector car." That is, no errands, driving to work, parking outside a locked garage, etc. This definition will be in your application, and in your policy. Using a car in this manner lowers their risk and lowers your premium.

I presume that USAA's pricing takes into account the relatively high risks of daily driving, and charges accordingly.

Edit - I now see that you're comparing a price delta between Hagerty and Grundy, and not between USAA an the collector insurers. No idea on the difference between Hagerty and Grundy. I've reviewed policies of both for 993s, and they're almost identical to my eyes.
Old 02-10-2016, 03:56 PM
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mike cap
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Originally Posted by sdm100
As our cars continue to appreciate I was looking for a stated value policy rather than my current policy with USAA which does not write "stated value" policies. Hagerty was about $1900 per year with 2500 miles and 300K/500K policy and no deductible. Grundy initial quote was half (same coverage) that with $500 deductible. Am I missing something here as to why such a difference.

Get a price from Heacock Collector Car Insurance in FL. Over 15 years I've been through three other collector car insurance companies and Heacock is the best by far. Fair pricing and terrific customer service. Just got my renewal and NO bs annual increase like all the others.

Call Angela Burnett at 800-678-5173 x 426 she is great. No affiliation just (finally) a happy 993 insurance customer.
Old 02-10-2016, 04:14 PM
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Holytin
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Originally Posted by mpruden
Grundy and other collector car insurers will only offer you a policy if they believe you will use the car according to their definition of a "collector car." That is, no errands, driving to work, parking outside a locked garage, etc. This definition will be in your application, and in your policy. Using a car in this manner lowers their risk and lowers your premium.

I presume that USAA's pricing takes into account the relatively high risks of daily driving, and charges accordingly.

Edit - I now see that you're comparing a price delta between Hagerty and Grundy, and not between USAA an the collector insurers. No idea on the difference between Hagerty and Grundy. I've reviewed policies of both for 993s, and they're almost identical to my eyes.
Just going by memory the cost difference Hagerty- Grundy was a few hundert $$$, same agreed value. And I am with Grundy...
Old 02-10-2016, 04:17 PM
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justin-in-athens
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I just renewed my 964 coupe policy yesterday with Grundy.
$600 for the year
47k agreed value/replacement payout
No annual mileage restriction
Can only be used for hobby/pleasure though.
Must be stored in a locked garage.
I have had good luck with them.

No you are not missing anything, other than the fact that Haggerty is grossly overpriced
Old 02-10-2016, 04:19 PM
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pirahna
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Originally Posted by sdm100
As our cars continue to appreciate I was looking for a stated value policy rather than my current policy with USAA which does not write "stated value" policies. Hagerty was about $1900 per year with 2500 miles and 300K/500K policy and no deductible. Grundy initial quote was half (same coverage) that with $500 deductible. Am I missing something here as to why such a difference.
You want to get a "agreed value", not "stated value". In the event of a total loss you would still need to prove that your car was worth the stated amount with a stated value policy. With an agreed value policy they are agreeing that they will pay you that full amount.
Old 02-10-2016, 06:05 PM
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nine9six
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Excellent note from Pirahna!
Old 02-10-2016, 06:08 PM
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il pirata
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As Piranha stated above you want agreed value, not stated value.

BTW USAA does do agreed value.

https://www.usaa.com/inet/pages/insu...ector_car_main

While I am a USAA member I use State Farm, which also does agreed value, around $700 per year for $100K agreed value and full coverage.
Old 02-10-2016, 07:41 PM
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TMc993
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I have a home/auto/liability umbrella package with AutoOwners, but because AutoOwners doesn't write agreed value policies, I have my 993 on an agreed value policy with State Farm. The State Farm agreed value premium was is actually less than the AutoOwners premium for standard coverage with identical limits. State Farm's premiums have been stable so far.
Old 02-10-2016, 08:01 PM
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TONY AIR C2S
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Originally Posted by mike cap
Get a price from Heacock Collector Car Insurance in FL. Over 15 years I've been through three other collector car insurance companies and Heacock is the best by far. Fair pricing and terrific customer service. Just got my renewal and NO bs annual increase like all the others.

Call Angela Burnett at 800-678-5173 x 426 she is great. No affiliation just (finally) a happy 993 insurance customer.
+1
Old 02-10-2016, 08:11 PM
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vincer77
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My Hagerty premium is less than half of a standard policy.

Note to self - increase agreed value.
Old 02-10-2016, 09:43 PM
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+1 for Grundy. I have the MVP policy (minimum of one special car and two regular cars). I think they are flexible and will do MVP on only two cars if the value is over 100k. I have agreed value on all my cars - regular and specialty.

Even though my rates increased significantly last year (due to an underwriting change in Michigan) this is by far the best deal for specialty cars I have found. Couple hundred bucks a year for my 993 and I was paying $160 a year for my 94 Viper.

They also offer (and I selected) a diminution in value clause. It's cheap and as I understand it covers reduced value of an accident repaired car.

Several friends have since moved to Grundy. One filed an accident claim for a totaled vehicle and it was promptly paid. No issues.
Old 02-10-2016, 10:08 PM
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Nlu
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I have Grundy for both my 993 and Bmw m coupe. In both cases, Hagerty costs were almost double that of Grundy, for the same stated value and basically the same policy and restrictions.
Old 02-10-2016, 10:37 PM
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pirahna
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I am in the middle of switching over to American Modern. Their rate was about $1000/year less than Hagerty and they have less restrictions.
Old 02-11-2016, 02:52 AM
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C4inLA
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assume that agreed value is collision related. What about theft? How is that handled?


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