Collector Car Insurance
#21
Race Director
Here is the info I received today:
Dear Valued Policyholder
Since acquiring Grundy Worldwide in 2005, Philadelphia Insurance
Companies (“PHLY”) has partnered with Jim Grundy and his staff to
administer our Collector Car insurance program. While we appreciate
Jim’s work on our behalf, effective October 20, 2011, you will now
work directly with PHLY for all your Collector Car insurance needs.
We have dedicated Collector Car Customer phone numbers as follows:
Collector Vehicle
Customer Service
877.438.7459
Collector Vehicle
Claim Reporting
800.765.9749 / fax 800.685.9238
We are also excited to announce that you have the ability to
receive and pay for your policy online. We will be mailing out your
renewal approximately 45 days prior to the effective date of your policy.
At that time, you will receive instructions on how to view and pay for
the policy online. Please feel free to contact us with any questions.
We look forward to being of service to you!
Sincerely,
Collector Vehicle Support Team
GRUNDY WORLDWIDE
A division of Philadelphia Insurance Companies
As is often the case, when one company buys out another they start to make changes to re-coup the money they paid for the business. Not saying anything is changing drastically, but it would bare watching
Dear Valued Policyholder
Since acquiring Grundy Worldwide in 2005, Philadelphia Insurance
Companies (“PHLY”) has partnered with Jim Grundy and his staff to
administer our Collector Car insurance program. While we appreciate
Jim’s work on our behalf, effective October 20, 2011, you will now
work directly with PHLY for all your Collector Car insurance needs.
We have dedicated Collector Car Customer phone numbers as follows:
Collector Vehicle
Customer Service
877.438.7459
Collector Vehicle
Claim Reporting
800.765.9749 / fax 800.685.9238
We are also excited to announce that you have the ability to
receive and pay for your policy online. We will be mailing out your
renewal approximately 45 days prior to the effective date of your policy.
At that time, you will receive instructions on how to view and pay for
the policy online. Please feel free to contact us with any questions.
We look forward to being of service to you!
Sincerely,
Collector Vehicle Support Team
GRUNDY WORLDWIDE
A division of Philadelphia Insurance Companies
As is often the case, when one company buys out another they start to make changes to re-coup the money they paid for the business. Not saying anything is changing drastically, but it would bare watching
#22
Race Director
I found this on Grundy's site which explains the reasons for the changes
Is Grundy Still my Insurance Agency?
As of October 20, 2011, Philadelphia Insurance (PHLY) has assumed administrative responsibilities of policies previously issued under the name "Grundy Worldwide" in all states except Massachusetts and South Carolina.
In 48 states, PHLY has imposed a "non-compete" on Grundy Insurance at the current time, which prohibits us from writing new Collector-Car-Only policies. We hope that in the future, the non-compete is reversed, rescinded or expired. Until that time, we can insure collector vehicles, but only in conjunction with other policies.
If you want to take advantage of our expertise and legendary service, please check out our two new, breakthrough insurance products. We believe these new programs will evolve to be the future standard of insuring all your vehicles.
The Programs
•The "MVP" all-in-one policy offered through our Motor Vehicle Program
◦Our "MVP" policy offers you Agreed Value coverage on all of your motorized vehicles, including everything from daily driver and exotic specialty cars to motor homes and motorcycles.
and more,
Philadelphia Insurance Companies is the marketing name for the property casualty insurance operations of Philadelphia Consolidated Holding Corp., a Member of the Tokio Marine Group. In the United States, all products are written by insurance company subsidiaries of Philadelphia Consolidated Holding Corp. Coverage may not be available in all jurisdictions and is subject to actual policy language. Certain coverage may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds. Non-insurance products and services may be provided by independent third parties.
###
Is Grundy Still my Insurance Agency?
As of October 20, 2011, Philadelphia Insurance (PHLY) has assumed administrative responsibilities of policies previously issued under the name "Grundy Worldwide" in all states except Massachusetts and South Carolina.
In 48 states, PHLY has imposed a "non-compete" on Grundy Insurance at the current time, which prohibits us from writing new Collector-Car-Only policies. We hope that in the future, the non-compete is reversed, rescinded or expired. Until that time, we can insure collector vehicles, but only in conjunction with other policies.
If you want to take advantage of our expertise and legendary service, please check out our two new, breakthrough insurance products. We believe these new programs will evolve to be the future standard of insuring all your vehicles.
The Programs
•The "MVP" all-in-one policy offered through our Motor Vehicle Program
◦Our "MVP" policy offers you Agreed Value coverage on all of your motorized vehicles, including everything from daily driver and exotic specialty cars to motor homes and motorcycles.
and more,
Philadelphia Insurance Companies is the marketing name for the property casualty insurance operations of Philadelphia Consolidated Holding Corp., a Member of the Tokio Marine Group. In the United States, all products are written by insurance company subsidiaries of Philadelphia Consolidated Holding Corp. Coverage may not be available in all jurisdictions and is subject to actual policy language. Certain coverage may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds. Non-insurance products and services may be provided by independent third parties.
###
Last edited by GCD1962; 12-22-2011 at 10:20 PM.
#23
Race Director
Member Since: Oct 1999
Location: www.ncminsurance.com Bowling Green KY Home of the Corvette!
Posts: 14,109
Received 126 Likes
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66 Posts
CI 1-2-3-4-5-6-7-8-9-10-11-12 Vet
St. Jude Donor '07-'08
NCM Sinkhole Donor
Tried to reach Adam today by phone but he is off for the Christmas Holidays until next Tuesday the 27th. I am trying to hold off until then being I only have until Jan 2 to get my premium in to Grundy as it now stands since I wasn't able to speak to a underwriter at Grundy as of yet to possibly adjust agreeable value on a few cars. Don't get me wrong I never had a problem with Grundy ever before as I have been with them since 2005. Before that I was insured with American Collectors since '84 with no claims either.
Well this afternoon I called American Collectors and nothing has changed with them. My 8 car Collector Policy would be more expensive with them at over 200 dollars a year more and for lesser coverage. They want to charge me for 100/comp and 100/Collision on 7 of my Cars but on my 8th car my Street Rod they will only give me 500/comp and 500/Collision on. Grundy has a 0 Deductible for both Collision and Comprehensive on all of my 8 cars which includes my Street Rod. This is the dilema I had when I left American Collectors 7 years ago. I guess nothing changed there. Grundy is giving me 100,000/500,00 Bodily Injury and Property Damage coverage compared to 100,000/300,000 from American Collectors. American Collectors also has a 2500 mile limited milage policy still. Grundy is unlimited so Grundy is still the better deal for me. Spoke to one more customer service person this afternoon at Grundy and he tells me the reason for the problems they are having right now is because of the buyout of Grundy Worldwide from Grundy. He told me it will take them awhile to sort things out. Right now it looks like I may stay with Grundy unless Adam has a better deal come next Tuesday for me.
Well this afternoon I called American Collectors and nothing has changed with them. My 8 car Collector Policy would be more expensive with them at over 200 dollars a year more and for lesser coverage. They want to charge me for 100/comp and 100/Collision on 7 of my Cars but on my 8th car my Street Rod they will only give me 500/comp and 500/Collision on. Grundy has a 0 Deductible for both Collision and Comprehensive on all of my 8 cars which includes my Street Rod. This is the dilema I had when I left American Collectors 7 years ago. I guess nothing changed there. Grundy is giving me 100,000/500,00 Bodily Injury and Property Damage coverage compared to 100,000/300,000 from American Collectors. American Collectors also has a 2500 mile limited milage policy still. Grundy is unlimited so Grundy is still the better deal for me. Spoke to one more customer service person this afternoon at Grundy and he tells me the reason for the problems they are having right now is because of the buyout of Grundy Worldwide from Grundy. He told me it will take them awhile to sort things out. Right now it looks like I may stay with Grundy unless Adam has a better deal come next Tuesday for me.
Thanks!!
Adam
#24
Tech Contributor
#25
Melting Slicks
Thread Starter
Check out the site and throw together a quote. If you put together a quote and submit it, I will send off an email in a matter of hours, I promise! We can get the ball rolling and get all the information needed I get a policy inforce on the 2nd, no problem at all! I can immediately issue ID cards to satisfy all state requirements. Shoot me an email at adam@corvettemuseum.org and I will gladly respond.
Thanks!!
Adam
Thanks!!
Adam
Doing up a list of my Vehicles and the current agreed value that I have with Grundy Worldwide. I will list other info also. Should have it to you within the hour. Hope your website will let me list all 8 vehicles. Tried to do the same at American Collectors this afternoon but it stopped at 4 vehicles and then the website told you to call their phone number if more then 4 vehicles were to be insured. On second thought I think I will just email this info to you and you can see what you can do for me with the info I give you.
Last edited by ffas23; 12-22-2011 at 11:39 PM.
#26
Team Owner
So does anybody know what happens if you exceed your mileage agreement with these companies. E.g. if I insured at 3,000 miles a year or less and for some reason put on 3,750 one year and had to file a claim -- what happens ?
#27
Race Director
Member Since: Oct 1999
Location: www.ncminsurance.com Bowling Green KY Home of the Corvette!
Posts: 14,109
Received 126 Likes
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66 Posts
CI 1-2-3-4-5-6-7-8-9-10-11-12 Vet
St. Jude Donor '07-'08
NCM Sinkhole Donor
Hey Frankie,
I just ran a quote on www.ncminsurance.com based off of $56K in value, $1K Deductible, 3K miles per year, 100/300 on both Bodily Injury and Uninsured/Underinsured Motorists and I came up with $323 per year. This does nto factor in any additional discounts that you may be entitled to. I really think I could save you some money.
As to your mileage question...We should really fine tune mileage to what will truly fit your needs. If you select the 3K per year, and you only drive it 2K miles the first year then you have 4K you can drive it the next year. Much like cell phone minutes, we can roll over miles. If midyear you want to increase the miles to 6K, just call me up and I will take care of it.
I hope this answers your questions.
Thanks!!
I just ran a quote on www.ncminsurance.com based off of $56K in value, $1K Deductible, 3K miles per year, 100/300 on both Bodily Injury and Uninsured/Underinsured Motorists and I came up with $323 per year. This does nto factor in any additional discounts that you may be entitled to. I really think I could save you some money.
As to your mileage question...We should really fine tune mileage to what will truly fit your needs. If you select the 3K per year, and you only drive it 2K miles the first year then you have 4K you can drive it the next year. Much like cell phone minutes, we can roll over miles. If midyear you want to increase the miles to 6K, just call me up and I will take care of it.
I hope this answers your questions.
Thanks!!
#28
Tech Contributor
Outstanding, that's great to know. Like cellphone minutes that part part of a company plan, if I put multiple cars on the NCM policy are all of their miles aggregated into a massive roll-over? I.E. can I roll-
#29
Race Director
I have five old cars I insure with State Farm Collector Car policy. Agreed coverage.
I haven't seen anyone beat their quote but NCM is very close. Check with your State Farm agent and see what the policies cost if you bundle homeowners, car and collector car insurance together plus numerous discounts for policy longevity, good driving record, etc.
If I leave State Farm, I'm going to NCM.
I haven't seen anyone beat their quote but NCM is very close. Check with your State Farm agent and see what the policies cost if you bundle homeowners, car and collector car insurance together plus numerous discounts for policy longevity, good driving record, etc.
If I leave State Farm, I'm going to NCM.
How do you get State Farm "Collector Car Policy" with agreed value? I have all my cars, bike, and house with State Farm, (at "stated value") and my agent isn't familiar with that program you have. He says State Farm doesn't do Agreed Value, only stated value even on the Collector car policy. I've been looking at switching to Hagerty, Grundy, or NCM for the toys and just keeping the DDs and house with State Farm. What can you tell me?
Thanks,
Glenn
Last edited by tuxnharley; 12-23-2011 at 12:41 PM. Reason: clarification
#30
Race Director
Member Since: Oct 1999
Location: www.ncminsurance.com Bowling Green KY Home of the Corvette!
Posts: 14,109
Received 126 Likes
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66 Posts
CI 1-2-3-4-5-6-7-8-9-10-11-12 Vet
St. Jude Donor '07-'08
NCM Sinkhole Donor
Jeff, glad you approve!! It is per vehicle, and not pooled per policy....
#31
Race Director
My '62 from Hagerty (this is from the renewal due in Jan)
Agreed Value $60k
Body injury & Liability $500k
Medical $5,000
UIM, $500k per accident
Cost for the Corvette - $334
Cost for '40 Chev ($20k agreed) - $100
Cost for '68 Impala Wagon ($14k agreed) - $87
All have no deductible and no mileage limits
Total cost for all three cars - $684 yr
Agreed Value $60k
Body injury & Liability $500k
Medical $5,000
UIM, $500k per accident
Cost for the Corvette - $334
Cost for '40 Chev ($20k agreed) - $100
Cost for '68 Impala Wagon ($14k agreed) - $87
All have no deductible and no mileage limits
Total cost for all three cars - $684 yr
#32
Team Owner
Member Since: Oct 2000
Location: Washington Michigan
Posts: 38,899
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#33
Race Director
#34
Burning Brakes
Really!
Maybe I'm "grandfathered" in or something since I've been with them since they were the old "American Hobbyist Insurance Co.". Guess I'll quit touting them now.
I'm paying IIRC $334 annually with $55K or $60K agreed upon value (I don't remember which right now) with no restrictions on "pleasure driving"...
Of course I'm not 'tooling around' in a late model Aston Martin either!
FTF
Maybe I'm "grandfathered" in or something since I've been with them since they were the old "American Hobbyist Insurance Co.". Guess I'll quit touting them now.
I'm paying IIRC $334 annually with $55K or $60K agreed upon value (I don't remember which right now) with no restrictions on "pleasure driving"...
Of course I'm not 'tooling around' in a late model Aston Martin either!
FTF
#35
Spoke with Grundy a couple of months ago and was told that they were not accepting new policies. I felt like that was a red flag: might not have enough assets to fulfill claims. I asked the rep why and there was a long pause. That was enough for me.
Spoke with Adam, he was a gent and very informative but didn't write in New York.
Was pointed in direction of am collectors and service was excellent, felt prices were competitive and based on others experience will pay a claim should I have one.
Spoke with Adam, he was a gent and very informative but didn't write in New York.
Was pointed in direction of am collectors and service was excellent, felt prices were competitive and based on others experience will pay a claim should I have one.
#37
Burning Brakes
Member Since: May 2005
Location: Fairfield County CT
Posts: 1,012
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Heacock has been insuring our three "fun" cars for the past few years. They insure these three cars for about half what Grundy charged me in the past but with about 40% greater "agreed value." Haven't had to make any claims so far, and hope never to have to! Might be with a look.
#38
Team Owner
That's pretty incredible...I'm thinking there is a catch...is this a bundled price for all your cars, house etc or is there some usage limitation ?
#39
Burning Brakes
bundled rates only apply to my vehicles with non-negotiated values. the negotiated value cars have to have full coverage all year and come with no premium deductions. other corvettes that i have not negotiated a value for, have multiple line deductions and can have reduced rates when not in use. when not in use i pay $14.47 every six months with a $50 deductable comprehensive on my 74 corvette.
#40
Team Owner
Guess I'll have to call SF and see what is up...I can't see how you are paying close to my current rate in the one instance but you get double the coverage with the same deductible...