Grundy MVP collector & daily driver insurance.

[Glen C.]

Has anyone gotten quotes or purchased insurance from Grundy on their new MVP insurance program. This is the plan that insures your collector cars and your daily drivers on the same policy. I currently have Hagerty on my Vettes and Allstate on my daily drivers. It seems like I am paying a lot more than I should, considering that my wife and I are retired and drive less than 10k per year. Any experiences or opinions on this Grundy program. Thanks!

[Darrell S.]

Re: Grundy MVP collector & daily driver insurance.

Grundy is very good collector car insurance. I would not have anything else

[Terry D.]

Re: Grundy MVP collector & daily driver insurance.

I have Grundy for my old cars, but their so called MVP program was going to cost me $350 more on my other 4 vehicles so I passed.

[Glen C.]

Re: Grundy MVP collector & daily driver insurance.

Darrell, Have you insured, or are you planning to,insure, your daily drivers under Grundy MVP?

[Glen C.]

Re: Grundy MVP collector & daily driver insurance.

I have Grundy for my old cars, but their so called MVP program was going to cost me $350 more on my other 4 vehicles so I passed.

Terry, Four more collectible cars or daily drivers?

[Darrell S.]

Re: Grundy MVP collector & daily driver insurance.

Glen, No the daily drivers are insured through my company on a fleet plan. I did get a qoute on my Wife's Camaro from Grundy and it was a little more than I pay now. As for as my collector cars Gundy is great. I had to make a claim a few years back on a 2000 Corvette and Gundy did everything we asked them to do.

[Jim D.]

Re: Grundy MVP collector & daily driver insurance.

I got a quote from Grundy on my 2 Corvettes. For the exact same coverage, they were 40% higher than going through Adam Boca at the Corvette Museum. I've also seen many posts were Grundy and Hagerty raise their premiums every year. My premium hasn't increased in 5 years.

[Tom B.]

Re: Grundy MVP collector & daily driver insurance.

My Hagerty premium hasn't increased in 5 years either.

Tom

[Robert K.]

Re: Grundy MVP collector & daily driver insurance.

About 3 months ago I went through an analysis of all the collector car insurance companies. Too my amazement, State Farm was the cheapest. It has the additional benefit, that my 24 year old son can drive the cars.

[Philip P.]

Re: Grundy MVP collector & daily driver insurance.

Interesting when I had Hagerty the rates were steady for about 10 years then started to creep up the last 3 years.
I am now looking into the NCM insurance as we speak. Looks very good.
Phil

[Bob S.]

Re: Grundy MVP collector & daily driver insurance.

About 3 months ago I went through an analysis of all the collector car insurance companies. Too my amazement, State Farm was the cheapest. It has the additional benefit, that my 24 year old son can drive the cars.

My experience with State Farm was a bit different, both with pricing (AMIG, the underwriter for NCM, was less expensive), and with support.

I spent a month and a half as a State Farm policyholder. Like many others, I thought Hagerty was a bit expensive, and started shopping around. American Modern Insurance Group was very responsive and was the least expensive, but my local State Farm agent, with whom I had a home policy, was very persuasive, and I decided to give her a try, in spite of the higher rate. I was a little suspicious of the policy being an agreed value policy, so I asked my agent exactly what that meant, and here is what she responded with;

"This is what I received from our Underwriters on how the policy works:

If the vehicle qualifies for the antique classification it is called an Agreed Value policy. This means that in the event of a total loss, the client will be paid the Agreed Value (as long as the policyholder hasn’t let the car deteriorate in condition, remove parts, or have prior damage that we didn’t know about). The value is mainly determined by resources such as NADA and Old Car Price Guide. We will review the car’s current condition, then look up the values in those guides for that vehicle."

Basically it says that regardless of what you state the value as, if there is an incident that totals the car, it's not your stated value that determines what they pay, but what the various price guides say. Nevertheless, because the price guides seemed comparable to what I thought the cars was worth, I went ahead and purchased a policy.

Within a week or two, I was curious as to why I hadn't received insurance cards or the policy declarations in the mail (there is very little web support at statefarm.com, no printing of documents, etc). My agent responded that there were some temporary issues with support that were being resolved, and I would receive them soon. Another two weeks passed, and by then I was able to access basic policy information on-line, including my address, policy description, and payment information. My address was incorrect, as they were using the address of my garage and not my home, the policy was listed as a standard auto policy, not a classic car policy, and they claimed I owed them over three hundred more dollars. My agent apparently was aware of these issues, and said she had been calling the regional office daily and corrections were already in progress. I decided to call the main State Farm support number to verify that changes had been made, and to my surprise, State Farm has no 1-800 national support number for questions or issues, only a claims number and an automated billing number. By now I'm getting worried, as apparently even my agent is having trouble having corrections made, and I had no-one to call other than the very frustrated agent, and there's no web support for such things (I should have mentioned earlier that an email question to the web-site was unanswered, to this day). At this point I realized that if I had a real issue, such as a claim, I had no confidence that it would be handled quickly or accurately, given that an address correction had taken over six weeks at that time. I started shopping again, and AMIG remained responsive and the least expensive, so I bought a policy. The same day I received an excited email from my agent saying that she had just verified that the address change and the policy correction initiated weeks earlier had been completed by the regional office. Great, but way too late. Sorry State Farm, but you're not competitive in service, coverage or support.

I should also mention that I never did received either insurance cards or the policy statement in the mail, so evidently they weren't really "in the mail".

I hope this helps someone else who may be considering State Farm as an alternative to a real collectors car insurance company.

Bob

[Kenneth H.]

Re: Grundy MVP collector & daily driver insurance.

I dumped Grundy Worldwide a year ago. I actually liked doing business with Grundy Insurance (used them for four years) but changes were made (I think some kind of dispute) and Philadelphia Indemnity (now Philadelphia Insurance) took over servicing the Grundy policies under the name Grundy Worldwide. Philadelphia Imdemnity actually was the insurer all along, but Grundy Insurance serviced those policies. I had some questions at renewal time last year and couldn't get through to anyone at Philadelphia Indemnity to discuss my issues. I tried for weeks and finally gave up. I contacted Adam Boca at NCM insurance got my car insured and saved a few hundred a year to boot.

FYI, Grundy Worldwide, a division of Philadelphia Insurance, insures individual classic cars and if Grundy Insurance insured your cars for more than a couple of years, you're now insured by Grundy Worldwide and not the Grundy Insurance we're all familiar with. Grundy Insurance no longer offers individual collector car insurance (part of the settlement with Philadelphia Insurance) but does provide the MVP service referred to in the original post.

[Don H.]

Re: Grundy MVP collector & daily driver insurance.

My experience (many years ago) with State Farm was horrible! I was rear ended and pushed into the car in front of me while driving my '64 Corvette - front and rear damage. The claims experience was a NIGHTMARE and you could not pay me to have insurance with them. YES, I hold a grudge and remember. Don H.

[Chuck M.]

Re: Grundy MVP collector & daily driver insurance.

I know this has been discussed in the past and we currently use Hagerty, and like others, have noticed a creep in rates over the last couple of years. I went to the NCM insurance website and received a quote for more than $200 less than what we pay now. My question, and I hate to ask it, has anyone ever had to file a claim with the NCM insurance carrier? I feel this is a large component in the decision making process of whether or not to change companies.

Chuck

[Paul J.]

Re: Grundy MVP collector & daily driver insurance.

My experience with State Farm was a bit different, both with pricing (AMIG, the underwriter for NCM, was less expensive), and with support.

I spent a month and a half as a State Farm policyholder. Like many others, I thought Hagerty was a bit expensive, and started shopping around. American Modern Insurance Group was very responsive and was the least expensive, but my local State Farm agent, with whom I had a home policy, was very persuasive, and I decided to give her a try, in spite of the higher rate. I was a little suspicious of the policy being an agreed value policy, so I asked my agent exactly what that meant, and here is what she responded with;

"This is what I received from our Underwriters on how the policy works:



Basically it says that regardless of what you state the value as, if there is an incident that totals the car, it's not your stated value that determines what they pay, but what the various price guides say. Nevertheless, because the price guides seemed comparable to what I thought the cars was worth, I went ahead and purchased a policy.

Within a week or two, I was curious as to why I hadn't received insurance cards or the policy declarations in the mail (there is very little web support at statefarm.com, no printing of documents, etc). My agent responded that there were some temporary issues with support that were being resolved, and I would receive them soon. Another two weeks passed, and by then I was able to access basic policy information on-line, including my address, policy description, and payment information. My address was incorrect, as they were using the address of my garage and not my home, the policy was listed as a standard auto policy, not a classic car policy, and they claimed I owed them over three hundred more dollars. My agent apparently was aware of these issues, and said she had been calling the regional office daily and corrections were already in progress. I decided to call the main State Farm support number to verify that changes had been made, and to my surprise, State Farm has no 1-800 national support number for questions or issues, only a claims number and an automated billing number. By now I'm getting worried, as apparently even my agent is having trouble having corrections made, and I had no-one to call other than the very frustrated agent, and there's no web support for such things (I should have mentioned earlier that an email question to the web-site was unanswered, to this day). At this point I realized that if I had a real issue, such as a claim, I had no confidence that it would be handled quickly or accurately, given that an address correction had taken over six weeks at that time. I started shopping again, and AMIG remained responsive and the least expensive, so I bought a policy. The same day I received an excited email from my agent saying that she had just verified that the address change and the policy correction initiated weeks earlier had been completed by the regional office. Great, but way too late. Sorry State Farm, but you're not competitive in service, coverage or support.

I should also mention that I never did received either insurance cards or the policy statement in the mail, so evidently they weren't really "in the mail".

I hope this helps someone else who may be considering State Farm as an alternative to a real collectors car insurance company.

Bob

Bob, thanks for sharing this. There are dozens of posts like Don's in the archives concerning State Farm. Very few of them are good, and then many of those people have not had a claim. As usual, State Farm uses their own definition of "Agreed Value" which differs from what many of us believe. I simply don't know how they survive with their lies and deception. I guess they have proven that the general public is stupid, at least in their eyes. Go back and revisit the past discussions on this.

Apologies to our TDB resident State Farm agent. We know it's not you, it's your employer.

Paul