When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.
I will be moving to an agreed value policy next month when my car comes out of storage. Hagerty and Grundy coverage seem similar with Grundy being a bit less expensive. What experiences have any of you had with either or other insurers with an AV policy. What to look for or insist on including in the policy?
Last edited by Prairiedawg; 03-04-2021 at 12:11 AM.
I have Grundy and while I have never needed to file a claim, I’m very happy with the plan they offer. I’ve heard great things about Hagerty as a company, but they wouldn’t do my 2011 GTS, saying it’s too new. Also, I drive my car every day and Grundy doesn’t limit your miles.
I just went with Grundy which was about half of Hagerty with the same basic restrictions, no businessmen, errands, or timed events. No mileage cap and 50k value. 09 C2S. There r options out there if you want to use for work and errands occasionally
I found Grundy was comparable to Hagerty but a bit less expensive. Not half, about $100/ year less. I'm surprised Hagerty wouldn't insure your GTS, That's what I'm looking to insure as well. I didn't speak to anyone but their online quote didn't mention this. Just a $$/year.
I'm also having a difficult time valuing my car. It's sort off an odd duck, a valuable odd duck. it's a SY, 6sp, GTS Cabriolet with under 20k miles that's very well optioned and appointed. If it were a coupe then $100k easy in this market. Cab, different story. There were well optioned C4S 6sp cabs selling for $85k recently. The Nordic Gold one comes to mind, with higher miles than mine (about 25K). I have to assume a similar or better build and condition GTS goes for more. I don't want to over value and pay too much for something I'll hopefully never use, but I don't want to under value it either. I'm thinking $90-95K, which on its face sounds insane to me. I was paying under $400/year for regular insurance when I bought the car a little over a year ago. The AV policy will more than triple that amount, but if my valuation is correct, that's what's needed. I come up with that number based on what it would take to get a similar car (there isn't one!) It isn't a unicorn but definitely a special build plus extras. First world problems.
I'm curious of those with AV policies, how much are you valuing your cars for?
For me, he goal is to insure it for enough that if my GTS were totaled or stolen, I would be able to replace it with as close as possible to the same car. Many of us think our GTS's are special, but with only 2,265 2011 GTS Coupes built for the world, they are in fact very rare. Mine is 100% original, loaded from the factory, fully documented with all record from new and serviced by a great tech at my Porsche dealer, so honestly I doubt I could actually replace my same car, but $100,000 could give me options. I intend to literally keep my car forever and will spend whatever necessary to keep her like new for the rest of my life, after which my son will add it to his pristine 1985.5 944 and keep it going. I like that Grundy lets you actually drive the car, whereas Hagerty, even after I completed all he info online (even had my agent confirm the numbers) told me that they dont insure ewer cars and definitely have severe milage limits. For regular insurance, many will do, but Agreed Value is a must with a car like ours, especially now that they are appreciating. I would rather pay more for a higher limit, than try to squeeze a few dollars and get shorted in the future if something bad happens.
I just went with Grundy which was about half of Hagerty with the same basic restrictions, no businessmen, errands, or timed events. No mileage cap and 50k value. 09 C2S. There r options out there if you want to use for work and errands occasionally
Bob
Are trips to Lowe’s, grocery store, etc considered errands?
Are trips to Lowe’s, grocery store, etc considered errands?
They are prohibited. If you have an accident in a store parking lot, or a school for example, they can deny your claim. Has to be driven "for pleasure", which for me, is every time I start the engine!
I was unaware of the stipulations with Hagerty. Grundy seems like a better deal all around and for less. I would hate to be denied a claim because I took it to the store after a long drive and it was sitting in the driveway, still warmed up. I was only thinking Hagerty because it was being sold through Allstate for a discount under what I was quoted directly. This is a pleasure car and would be my last choice for running errands but is preposterous to thing it's forbidden.
Yeah, your comfort level may vary. Again, for me I look at it as catastrophe insurance in the event of a total loss or theft. I work from home, so I’m not driving to and from work, but I do drive my car every day which gives me tremendous pleasure. I’m willing to use my discretion and accept the potential risks with things like parking lots or dropping my kids at school. And it covers my legal requirement to carry insurance.
With respect to traditional auto policies, is there a clear view that a normal insurance company would not pay for replacement value of a similiar year and mileage vehicle. Understand that our 997s are increasing in value (as many preowned cars are doing in this unusual bubble we are living in). I had to deal with a totalled vehicle claim years ago with my son's Mustang. It took some back and forth with the adjuster but we settled on a FMV plus sales tax.
I assume that AV policies are less of a hassle.if a car is totalled. And you can raise your AV for special equipment that may not be reimbursed by traditional insurance. Also,keep in mind that your AV policy needs to cover the sales tax to replace the vehicle as well.
These cars are meant to be driven and enjoyed. Don't let insurance restrictions make it a garage queen.
I need some clarification from Grundy policy holders. I spoke to one of their reps today about coverage and came away really dismayed. It sounded like their policies are no better than Hagerty, maybe worse. I specifically asked about an upcoming trip I have planned to Tennessee and North Carolina. I wanted to verify there would be no problems with coverage if I took my GTS. I was told "only if I was taking it to a car show there". I was told if it's a pleasure trip "it has to be garaged" and "how are you going to go to a store if you need to". I asked point blank if I would be covered on a pleasure trip there would I be covered? "Probably not". What if I drove to a car show at the exact same destination and time? "Yes, absolutely". I asked why the policy includes trip interruption reimbursement if pleasure trips are verboten and was told, well, that's if you went to an out of town car show.
That's preposterous! This goes against everything I have read about Grundy here and other places but came right out of that guys mouth. Either he's completely wrong or all of you policy holders better get some clarification from Grundy.
Interestingly enough, this is what it says on their website:
"How Can I Use My Car?
Grundy wants you to enjoy your car, not keep track of mileage like some programs with limitations. Therefore, we give you unlimited miles for pleasure driving and in collector car-oriented activities. It is even OK if occasionally you drive your collector car to work to show it off to friends. However, your collector car must not be used as a daily driver. We require you and all licensed drivers in your household to have a modern car for everyday use.
When you have your car at home, it must be kept in an enclosed, secure garage when not in use. If you are away from home on extended outings your car is fully protected if you must park it outside, for example in a hotel parking lot. Grundy coverage includes Trip Interruption that reimburses you for hotel and repair costs in the event of a breakdown, and we also reimburse you for towing and labor charges up to $250. You can count on Grundy as you cruise."
03-03-2021, 11:44 PM
Hagerty, Grundy, or other, which AV policy?
