I was doing some checking on the my insurance premium for 2014 for 4 model T's, various years and models, all insured for $13,000 each, recommended by agent, not by me. My figures would have substantially less.
In comparing between J C Taylor and Grundy, Grundy was 25% less, using the same liability and value amounts. I have had Grundy for 10 years without a claim. Total for Grundy is $357, which I consider very reasonable, and the reason for using them for the last 10 years.
My question is, at this low of a rate, has anyone ever had a claim on Grundy and was their experience satisfactory? Usually, when comparing other vehicle insurance, I have found similar pricing. This one had a considerable difference.
On your profile, u don't tell where u live, but here in Florida there is an extra charge for Hurricane coverage.
We live in KY. Is that coverage expensive? Worse we have here is earthquakes and tornados, and insurance can be bought for both but is not mandatory.
$357 for 4 Model T's is less than a hundred a year, which I'd say is as reasonable as it gets, not knowing the limits of your coverage. I have the "standard" 500,000/1,000,000 coverage as my "regular" cars and each T averages about $140 a year, depending on the value. They're all different. If you want some idea as to claim paying reputation, Google a review of Grundy and see what comes up.
Hurricane coverage isn't that expensive. Less than $5.00 for 2 cars
Tom, I tend to insure my toys for what it will cost me to replace them in case of a total loss. Your numbers seem just a little low to be able to replace your your Model T's if ever the unthinkable should happen. I use Hagerty Plus and have been very happy with them for many years. Even my Hit and Miss engines are covered through them. I think they are just a little higher than some but in return if something should happen I have the confidence that they will do right by me. I've never had a claim and hopefully never will but from what others have said they are very good so I have never gone to another company. A number of years ago I lost everything when I lost my garage because of a lighting strike. There was nothing left but charred ashes and scrap steel. I was insured through State Farm and they screwed me every chance they could. I had been insured with them for over 20 years. I lost thousands because of State Farm and what the State Farm agent promised me. They are not your friend as they claim to say in their advertising and will screw you every chance they can when you need them most. I learned my lesson very well, I didn't do my homework when I used trusted State Farm for my toys.. Do your homework, ask others, theres nothing like the experiences of others to learn about how different insurance companies will be there for your when you need them most.
I've had several claims with JC Taylor over the years. Most have been for broken windshields from rock chips, one claim was being caught in a hail storm and paid for a paint job. Outstanding customer service, no hassle, no nonsense.
My dad had to make a claim when mom ran into his '31 Model A Phaeton while she was trying to park Dad's '31 Deluxe Roadster next to dad's car at a monthly meeting of the Dallas MAFCA club in the parking lot of the Coca Cola plant at the corner of Mockingbird and Lemmon. JC Taylor paid for both cars to be fixed. That was almost 40 years ago. It was the last time mom drove any of the old cars.
One never knows the true value of insurance until involved in an accident or theft of the car. People who have actually had to use their insurance should post so we can compare the true value of the policies rather than just the premium price.
I have had State Farm all my life, I have had a number of claims, and they have always been great. I suspect I could get insurance cheaper somewhere else, but I will remain loyal to a company that has always been loyal to me. Geico claims to have a 97% satisfaction rate, I suspect only 3% of their customers make a claim.
I've always had JC Taylor for antiques/collectables. I had a claim on my T pickup with no title and they were great. They had an adjuster look at it and he determined it to be totaled. She asked me if I wanted to buy it back. I said yes. She said she'd have to get some salvage bids and get back to me. She called and said the bids ranged from XX to YY, and did I want to buy it back for the lowest bid? I said yes and she deducted that amount from the total insured value and sent me a check for the difference. Time from accident to check in hand was about 10 days. My fault--I drove under a low tree limb with it on the trailer; and, no increase in premiums. I've had State Farm all my life for my normal autos, trucks, trailers, and golf carts. I've had claims and they've depreciated my vehicles, paid the claims and raised my rates.
I had a claim with Hagerty last summer. Someone sideswiped me in a parking lot while I was inside.
Had a check made out to me in 5 days no questions!
State Farm Shoved it in dry when our motorhome was totaled by a wind storm!
BTW Hagerty is $107 a year for my 24 coupe with stated value at $12,000. 100/300.
What are these various companies' driving restrictions? Any limitations on distance, destination, time driving, etc.?
JC Taylor has the limitations "not to and from work on a regular basis, and not for business use". There is no mileage restriction. They won't insure vehicles that are not stored in a garage or carport.
This describes my usage perfectly. I don't use my T's to conduct business, and it would be nearly impossible to safely drive a T to work on the 70 MPH highway that is the only means of reaching my office.
On one JC Taylor policy I pay $734 a year with two cars (Mercury Cougar GT-E's with the factory 427 side oiler) valued at $50,000 each, the 1912 at $35,000, the 1915 and the 1917 valued at $15,000 each. Agreed replacement value, zero deductible on comprehensive, free towing. The renewal is sitting on my desk.
Having been in advertising for thirty some-odd years, my professional antennae & baloney-meter have become finely attuned to the sound of de-emphasized disclaimers and disguised exclusions (I find Alex Trekbek's daytime-TV pitches for Colonial Penn particularly amusing and the ad-agency exec who picked him for the job is very good, indeed — but I digress).
Speaking as a professional skeptic, I can tell you that the folks at Hagerty give me that warm, fuzzy feeling because their phone is answered by an actual human being whose friendly, unhurried chit-chat makes it clear that he/she is indeed a "car guy." On one occasion, the phone-rep encouraged me to get my teen-age kid involved and teach her how to drive my Model T because my policy definitely covered her at no extra cost. You don't get that with the big-name companies. There's no question in my mind that they consider promoting the collector-car hobby a primary part of their mission.
And the other thing is word-of-mouth reputation. In all the time I've been on the forum and talking to guys at car shows, I've never once heard anybody speak a single bad word about Hagerty. Not once. And like I said, I know how to listen.
By the way, their magazine, online publications and YouTube videos are pretty cool.
I changed to Hagerty about three years ago. Very professional, real folks you can speak to and they will make adjustments if you need to put a car on the road etc very quickly. Prices are for the most part very reasonable as are their driving regs. I have one person I deal with on a regular basis. Hard to believe in today's world.
I had a very unpleasant experience with Grundy having to do with a policy that was cancelled because for some reason they mailed bills to wrong address and failed to notify me in a timely manner by email or phone. Thank God nothing happened. Meanwhile I believe they got into financial trouble and basically work for or are a posterboy for a large company. Their service appears/feels outsourced and very hard to deal with.If you ask for a supervisor, it ain't gonna happen, etc. Of course when they proposed to rewrite the policies, the prices were substantially higher. Thats when I called other people I know and walked over to Hagerty. In other words, steer clear and give em a wide berth.
I had a claim with Hagerty 2 years ago. They sent out an adjuster. He used the costs I showed him from the Lang's catalog and others, and they promptly sent me a check. Fender repairs by a body shop came in higher than the adjuster's estimate. The body shop called Hagerty and they sent another check for the higher amount. I'm very satisfied and will stick with Hagerty.
Here's how I handle insurance on my antique cars. Each car has a policy with liability coverage, collision coverage, and comprehensive coverage.
I keep the comprehensive coverage active at all times but keep the liability and collision coverage suspended except when I activate it to cover the occasional day or several days when I intend to drive the selected car. By activate, I mean that my insurance company puts an liability insurance binder on the car for the day or several day period of intended use. I am not charged for these binders. The cost of keeping a car insured is effectively the annual cost of the comprehensive coverage, which is quite inexpensive.
There are two minor downsides to this arrangement:
1) If I were ever asked by a cop to show proof of liability coverage, I would not be able to do so on the spot and therefore would need to obtain a letter or similar written proof from my agent (for the police and/or court) attesting that I was indeed covered by the liability binder when I was "pulled over." In 25 plus years, this has not occurred. Occasionally, I have obtained a written binder from my agent to show as proof of coverage when doing multi-day trips.
2) If I am doing trip that involves more than a
few days, I do need to fully activate and pay for the liability coverage for the period of use.
I have saved a ton of money with this arrangement over many years.
In comparing costs between Hagerty, Grundy and JC Taylor, my coverage was about 25% cheaper from Grundy. I believe all the policies these firms sell are underwritten by large insurance companies. For example, Grundy by Philadelphia Insurance Companies (division of Tokio Marine Group), Hagerty by Hiscox Insurance Company, etc. In other words, they are insurance brokers and not the actual underwriters. I think they all do a good job with Taylor & Hagerty perhaps supporting the hobby more.
For about the last 20 years I have had my insurance with Continental Western Group the agency is located in Luverne mn 56156 phone 800 533 0303 or 507 283 9561,I have 8 cars 2 cycles with them I just paid them last month for one year it was 333.00 I have a fairly high deductible on them. I have never made a claim I believe they gave a discount if you belong to a club. Hope this helps.
I've had American Collectors insurance on three cars and my father and brother have cars with them as well. I've been happy with the service when adding and deleting cars and they gave good service when rodents ate through the top on my brother's Mustang. Their price was about 20-25% less than Hagarty, but I just switched to Hagarty because my son is now at driving age and American Collectors limits the drivers to only those 25 years old or older. I can't imagine telling my son that he has to wait 8-9 years to drive our cars!
I sincerely appreciate all the responses from everyone on the forum. It really gives all of us possible options for insurance and allows others to compare.
Thanks so much!
I priced around. I found Grundy to be about the same price of the rest. I picked Grundy because I see him at many events through the year setting in his booth. I like that. Last time I walked up and said I have been paying you for alot of years and havent got anything, thats good, so he handed me a can coozie.