Agreed upon value insurance policies

[oceansize]

If there's one thing I take away from this thread, it's that most people on the road are wildly under-insured.

50K for property damage? Better hope you hit a 2007 Altima, cause there isn't many cars left on the road worth less than 50K... God forbid you hit one of my cars.

I just re-signed with Hagerty yesterday. $1300 for the year, but I'm valued at 90K, and carry 100/300k liability, and 250K in property damage.

I live in rural TN. Home of no state inspections. If I hit a car there is a 93.7% chance its gonna be an Altima. 🤣

[9kracing]

If there's one thing I take away from this thread, it's that most people on the road are wildly under-insured.

50K for property damage? Better hope you hit a 2007 Altima, cause there isn't many cars left on the road worth less than 50K... God forbid you hit one of my cars.

I just re-signed with Hagerty yesterday. $1300 for the year, but I'm valued at 90K, and carry 100/300k liability, and 250K in property damage.

[SQ13]

Revisiting this. A friend and I were discussing Grundy and restrictions/limitations. He found this post from Reddit and sent it to me. Has anyone with a Grundy policy had any issues filing a claim if needed?

Hagerty vs. Grundy Classic Insurance -- Huge premium difference : r/projectcar

The experiences I posted about earlier in this thread were with Grundy. No complaints about them.

[bimmerfan08]

Re Grundy

Grundy was half the price of Hagerty - their marketing seems more strict on usage restrictions, but their actual policy is quite similar. Their CS reps told me driving to work 1-2x/mo to show off the car "might be pushing it" but seriously there is nothing in the policy with mileage limits or # of times-one-takes-it-to-work-to-show-it-off limitations. You are allowed to drive the car for "pleasure purposes" and there is no exact definition of what occasional pleasure drives are. You should be in the clear as long as there is some viable "pleasure" purpose to the drive.

Well, I find it pleasurable to hear the car!

Revisiting this. A friend and I were discussing Grundy and restrictions/limitations. He found this post from Reddit and sent it to me. Has anyone with a Grundy policy had any issues filing a claim if needed?

Hagerty vs. Grundy Classic Insurance -- Huge premium difference : r/projectcar

[bimmerfan08]

This is the online quote I received for my E46 M3 from Grundy. For some reason, the coverage limit keeps defaulting to the standard limits below.

[dreamdrivedrift]

Things like that make me really want to go with hagerty. I'm very jealous of the people that pay sub $1k/yr with them…

I think will try getting some more quotes next spring when I am over 25. Few ppl told me my rate may go down.

How much are you paying?

Re Grundy

Grundy was half the price of Hagerty - their marketing seems more strict on usage restrictions, but their actual policy is quite similar. Their CS reps told me driving to work 1-2x/mo to show off the car "might be pushing it" but seriously there is nothing in the policy with mileage limits or # of times-one-takes-it-to-work-to-show-it-off limitations. You are allowed to drive the car for "pleasure purposes" and there is no exact definition of what occasional pleasure drives are. You should be in the clear as long as there is some viable "pleasure" purpose to the drive.

Well, I find it pleasurable to hear the car!

[Nate047]

Who'd you switch to

I have Progressive now, it’s fine for our daily RAV4 and my M3s are non op right now, and my wife’s Boxster is used rarely. Looking at ways to get better coverage for those cars.

[SteelGreyM]

I had a complicated double claim in 2021, and a very simple claim just a few months ago. The difference was staggering and not in a good way. Just ditch them now. Trust me. The worst part is they will not pop for OEM parts, they have verbiage that allows use of aftermarket and you can't fight them on that.

Who'd you switch to

[Nate047]

I know theres a good story here

I had a complicated double claim in 2021, and a very simple claim just a few months ago. The difference was staggering and not in a good way. Just ditch them now. Trust me. The worst part is they will not pop for OEM parts, they have verbiage that allows use of aftermarket and you can’t fight them on that.

[Epsilon]

How much are you paying?

I'm part of the sub $1K group insured at $40K.

[D-O]

I have an 18 and 16 year old on my policy, and I could finance a new CSL with my premium. It is out of control.

This.

[SteelGreyM]

I hear you. I have the same addiction of buying random new parts for my car and they add up like crazy. Might I also suggest replacing your 3rd brake light as the rubber on that deteriorates like I recently discovered.

Hagerty has this option called Cherished Salvage where you get to keep your car in case of an event and they will still payout your insured value. Just something to keep in mind of. For my policy, it's an extra $45 each year.

Things like that make me really want to go with hagerty. I'm very jealous of the people that pay sub $1k/yr with them…

I think will try getting some more quotes next spring when I am over 25. Few ppl told me my rate may go down.

How much are you paying?

[Epsilon]

155k. I have oem CSL wheels brakes rotors. Rebuilt (built) motor. Every piece of rubber on the car is brand new. Small things like xenon projectors, new interior trim pieces, etc add up quickly. Heck I think more of the car is brand new than not at this point. I've (sadly) got much more than $30k into it, but I couldn't replace it for less than $30k that's for sure.

I hear you. I have the same addiction of buying random new parts for my car and they add up like crazy. Might I also suggest replacing your 3rd brake light as the rubber on that deteriorates like I recently discovered.

Hagerty has this option called Cherished Salvage where you get to keep your car in case of an event and they will still payout your insured value. Just something to keep in mind of. For my policy, it's an extra $45 each year.

[SteelGreyM]

My final guy came back with a quote from “open road” insurance. He said it was equivalent to hagerty. $2400/yr

[powerbait]

I have an 18 and 16 year old on my policy, and I could finance a new CSL with my premium. It is out of control. I've actually been working with Grundy last week to get all the Ms on a collector policy and then the three daily drivers on a standard policy. Oddly, the biggest offender of the dailies is a 2013 135i. I guess with my boys being 18 and 16, and this being a 2 door, with 300hp, it's $6k a year. My wife's Wagoneer, which is 4x the value, is less. So looking to trade the 135i for like a CR-V or something.