Grundy MVP collector & daily driver insurance.

[Jim D.]

Re: Grundy MVP collector & daily driver insurance.

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

http://www.ncminsurance.com/wildfire-claims-2-corvette-see-how-it-was-handled.html

[Terry M.]

Re: Grundy MVP collector & daily driver insurance.

Since the original question was about combining collector car insurance AND daily driver coverage -- has anyone asked Adam at the NCM about insuring daily drivers such as mini-vans or four-door sedans?

[Glen C.]

Re: Grundy MVP collector & daily driver insurance.

Follow up on my original post. I called Grundy MVP to inquire about insurance on my two Corvettes and my two daily drivers and a trailer. As part of the conversation, I was told by the agent that if I wanted to just insure the Corvettes I should call a separate Grundy phone number for this service. Sure enough two different numbers on the web site. This makes me think that the insurance provided for the Corvettes from the two different phone numbers may also be different. A day later via email, I received a quote on the vehicles mentioned above from Grundy MVP. The quote is higher than the combined Allstate & Hagerty insurance cost that I mentioned in my original post. The cost seems to be front loaded toward the daily drivers. I will be calling the other Grundy number to get a separate quote on just the Corvettes. I'll let you know what I find out.
I would also like to complement Bob Shapiro on his editorial on State Farm. I have no experience with this company either good or bad. However, in 1982 I had a three month old 82 Collectors Edition Corvette stolen. I took quite a hit with AAA insurance partially because it was a new car and a summer time daily driver with no stated value. Since then, I have been much more careful on selecting classic car insurance and trying to understanding the terms like stated value, guaranteed value, market value, etc. Many classic car owners, some new to the hobby, do not know what these terms mean, and only find out when it is too late! Glen.

[Kenneth H.]

Re: Grundy MVP collector & daily driver insurance.

Glen, the "other Grundy number" is Grundy Worldwide, a division of Philadelphia Insurance. Different company. Good luck with that. Prior to canceling my insurance with them I had read that their customer service wasn't very good and it was hard to even get someone to answer the phone. I had the same problem and that's why I decided to cancel. I went with Adam Boca at National Corvette Museum for insurance and saved a bunch on premiums. You ought to give him a call.

[Bruce D.]

Re: Grundy MVP collector & daily driver insurance.

Going back to an old post. Does anyone have any current experience with claims for the insurance that is bought through Adam at the NCM? Their prices seem a lot less than others for what I think is the same coverage.

[John F.]

Re: Grundy MVP collector & daily driver insurance.

Here we go again on somebody said this or that about their insurance premium and coverage or company. Those talking about State Farm please google "state farm antique auto insurance" and click on the heading "classic car insurance" with the state farm .com under it. It talks about "agreed value" vs "ACV". Not applicable in MA,NC, or TX. Since I live in Texas I go with Adam Boca at the NCM. Their policies in Texas are through one of American Modern Insurance Groups subsidiaries (Consumers County Mutual). We can discuss different companies and policies until the cows come home. It comes down to your relationship with the agent and your trust in the company. Your agent is a salesman and does not know every little detail of all the policies that they sell. If I don't know an answer to a question I go straight to the underwriter or claims department for an answer. I usually try to have a copy of the policy in front of me when I do, so we are looking at the same wording and on the same wavelength. Company rates are based on claim experience and projected claim trends. Policies & Rates are usually filed with the respective State Insurance Departments. Enough said by me!

[Kurt G.]

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.

State Farm? Read your policy very carefully, AFTER you learn the differences between ACV, stated value and agreed value. Then run away before your son wrecks one.

[Bob S.]

Re: Grundy MVP collector & daily driver insurance.

State Farm? Read your policy very carefully, AFTER you learn the differences between ACV, stated value and agreed value. Then run away before your son wrecks one.

I also tried State Farm briefly for my Corvette insurance, but I'll caution you that the policy doesn't clearly state the details. I pushed my agent for more information as to whether in the event of a claim they would pay the agreed value, and she sent me the following from the underwriter. As you can see below, the amount paid out is not the "agreed value", but a value determined by the company using third party price guides. I walked immediately.

"

[John H.]

Re: Grundy MVP collector & daily driver insurance.

I also tried State Farm briefly for my Corvette insurance, but I'll caution you that the policy doesn't clearly state the details. I pushed my agent for more information as to whether in the event of a claim they would pay the agreed value, and she sent me the following from the underwriter. As you can see below, the amount paid out is not the "agreed value", but a value determined by the company using third party price guides. I walked immediately.

"

State Farm CAN write "agreed value" coverage, but only in a few states; most State Farm agents aren't even familiar with it. The example above obviously is NOT "agreed value".