Grundy Classic Car Insurance
Grundy Classic Car Insurance, Special insurance from a classic car insurance company provides a number of benefits to those who own and drive collector cars. Companies that specialize in antique car insurance may offer better coverage with lower premiums than a standard car insurance company, but better coverage and lower premiums come with some limitations.
There are many points to consider when choosing a classic car insurance provider, so it is important that you do your homework to find the antique car insurance provider that is best for you. Grundy Classic Car Insurance.
Grundy Worldwide is an insurance company that specializes in collector car insurance. They have been running since 1947 in Horsham, PA just north of Philadelphia. Since its inception, Grundy Classic Car Insurance has covered over 1.5 million collector cars and they are one of the fastest-growing classic car insurance companies.
Grundy Classic Car Insurance, The owner is himself a car collector and restaurateur after winning awards at several of the major collector car events in the United States. His commitment to the hobby helps him understand the wishes and needs of other car collectors.
Grundy Classic Car Insurance is the originator of the Agreed Value Policy, where the insurance company and the car owner determine an agreed value of the vehicle before the policy is initiated. If there is a total loss, the car owner receives the full value of the car, instead of what the insurance company decides the car was worth afterward.
Grundy insures any year’s vehicle, even late-model cars, as long as they are used only for show, hobby, and pleasure purposes. Many other collector car insurance companies will only write policies for vehicles of a certain age or older. Grundy Classic Car Insurance.
Grundy only uses insurers with an A.M. Best rating of A + or higher, which means that companies are very stable financially. They offer liability of up to one million dollars and have a single liability fee for collectors with more than one vehicle. Grundy’s antique car insurance policies have a number of built-in coverage benefits, which include towing and labor costs, medical reimbursement for car shows, automatic 30-day coverage for new acquisitions, and coverage for loss of spare parts.
Grundy Classic Car Insurance, even has “Trip Interruption” coverage for costs incurred from a breakdown en route to a show (such as transportation, lodging, and meal expenses). One feature that Grundy offers, as many others do not, is their “Inflation Guard”, which automatically increases the amount your vehicle is insured by 4% each year.
Like any other vintage car insurance provider, Grundy has some limitations. Your car must be stored in a locked garage when not in use; you must have a daily driver’s vehicle for each authorized driver in your household in addition to the classic vehicle, and the car must be in excellent condition. Grundy Classic Car Insurance.
Grundy Classic Car Insurance, The vehicle should only be used for collector activities, but one feature that sets Grundy apart from many other classic antique car insurance providers is that they do not have a mileage limit.
Many antique classic car insurance companies have limits ranging from 1,000 miles up to 6,000 miles a year, but with Grundy Nationwide you can drive your car to as many remote car shows as you want without having to worry about exceeding an annual mileage limit.
Grundy also offers specialized insurance for restoration stores. It provides agreed value coverage for the Garagekeepers portion of the policy instead of the actual cash value coverage offered by other insurance providers. Since they do not offer this policy to regular collision repair shops, the premiums are lower than they would be for the often inadequate protection a specialty store receives from a standard insurance provider.