Grundy Application declined. What next?
- Thread starter CaliWagon83
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Tip: When it comes to classic insurance, don't purchase solely on the cheapest rates. You can, but that's rolling the dice. Make sure you know upfront what their requirements are as how to park/store and use your vehicle (locked garage, car shows, parades, minimal use, etc.) and how you would get paid in the event of a loss. Ask any and all questions of the agent before you buy. Consider the upper tier companies of the industry as well. A well-established company usually is well-established for a reason. Ensure they're licensed for your state as well. They'll usually tell you if they're not.
The dis on Grundy may be warranted, but then again, if they were upfront on what they required, et al, then you didn't lose out on any money. So no harm, no foul. My G-bodies got rejected by Hagerty because they were "too new". Really. TOO NEW?? WTF? Ok, called Grundy and they said to send pictures of the sides and ends to prove no damage, and a check after they gave me a quote. I didn't get upset, I just went somewhere else. If Hagerty don't want my money, Grundy will gladly take it. And I get the peace of mind my cars are covered while locked in the shop. (except for damage from acts of war)
A word about photos. I'm a firm believer of them. Keeps everyone fairly honest. Reason I say this is that someone with a dent on their fender insures their car, then complains about someone denting their fender, insurance pays, and if that happens enough times, then the company raises insurance rates on everyone. Also, the vice-versa part- without photos proving the car is in great shape, you run the risk of the company COULD say that dent that someone banged into you at a car show was already there and won't fix it.
For the most part, classic car insurance rates are pretty reasonable compared to regular insurance. Unless you have a one of one car that's worth a ton of money, anyway. Most of our G-bodies aren't worth a ton, so insuring them usually isn't bad on the wallet. I look at it like this, those who gripe about the cost of classic insurance probably doesn't need to own the car in the first place. You have to know that's part of the maintenance/upkeep of owning a "classic" going in.
The dis on Grundy may be warranted, but then again, if they were upfront on what they required, et al, then you didn't lose out on any money. So no harm, no foul. My G-bodies got rejected by Hagerty because they were "too new". Really. TOO NEW?? WTF? Ok, called Grundy and they said to send pictures of the sides and ends to prove no damage, and a check after they gave me a quote. I didn't get upset, I just went somewhere else. If Hagerty don't want my money, Grundy will gladly take it. And I get the peace of mind my cars are covered while locked in the shop. (except for damage from acts of war)
A word about photos. I'm a firm believer of them. Keeps everyone fairly honest. Reason I say this is that someone with a dent on their fender insures their car, then complains about someone denting their fender, insurance pays, and if that happens enough times, then the company raises insurance rates on everyone. Also, the vice-versa part- without photos proving the car is in great shape, you run the risk of the company COULD say that dent that someone banged into you at a car show was already there and won't fix it.
For the most part, classic car insurance rates are pretty reasonable compared to regular insurance. Unless you have a one of one car that's worth a ton of money, anyway. Most of our G-bodies aren't worth a ton, so insuring them usually isn't bad on the wallet. I look at it like this, those who gripe about the cost of classic insurance probably doesn't need to own the car in the first place. You have to know that's part of the maintenance/upkeep of owning a "classic" going in.
The companies are probably cracking down due to the somewhat lax rules on Historic or Antique plates. It is kind of disheartening to see a clapped out Civic running around with them, and maybe, just maybe, some Ricerboy actually thinks it should be a collector car......
My father in law has some Geo Metro's with collector plates and a early 90's Ford motorhome with collector plates due to not having to pay a renewal fee every year in Wisconsin. I have also seen a mid 80's Ford escort wagon with collector plates on in northern Wisconsin.
I've had Grundy insurance for 20 years now. Originally I applied with JC Taylor and was turned down for reasons similar to yours. I never did like insurance companies, good luck
Hagerty was the first place I tried (I don't know if it was Hagerty Worldwide). Their application process was very simple and pleasant, and I sent them multiple photographs as required. On the app, I said I wanted to insure my GP for $20,000. They sent me an approval letter saying they would accept my application and insure my car for $6000. I called them to point out their clerical error in my coverage amount. The polite woman explained to me that, based on my documentation and photos, they would only cover my car for $6000. "So you're saying you don't offer stated value policies?" "No," she replied. "Then cancel my application immediately."
My next call was to Grundy. My first question was if they offer stated value policies, and I was told they do. But you all already know they ended up rejecting my application because I actually intended to drive my car. Their itemized letter said their insurance would never let me drive the car to work, never let me drive to the store, never let me run any general errand for any purpose, and more. (I wish I still had the letter so I could scan it and post it for you guys to see.) So that was a no-go.
American Collectors worked well for me. They were every bit as polite and friendly as Hagerty, they offered all the stated value coverage I wanted to pay for, and they were willing to cover the car in any way I would want to use it (other than going down a drag strip, which no general insurance company will ever cover).
FYI
Hagerty all the way .. Easy in 10 to 15 minutes tops for me anyway .. GL .......
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