GT500 Insurance

[Mustang_Scotty]

You guys probably already know about Grundy Insurance but I read a thread that someone was complaining about insurance rates. Well if you dont know grundy Worldwide or Grundy Worldwide is the best collector/Performance car insurance. They will insure our GT500's. I have full coverage, $45,000.00, no mile restrictions for around $600.00 a year. They did ask if I had another car though. But if you dont know I hope I just saved you $$

[cheftjpeck]

yeah I just got same rate plus 1% catastrophe fund... So is this insurance like any other insurance??? What's the catch??

[twobjshelbys]

Originally Posted by cheftjpeck

yeah I just got same rate plus 1% catastrophe fund... So is this insurance like any other insurance??? What's the catch??

No catch. These are a form of a "stated value" policy, and one may be available from your current insurance company - my credit union ran mine through what is called an "inland marine" policy.

You live in a hurricane region so they figure you could get whacked.

I found better deals than Grundy although my friend does have his insured with them.

Grundy is also a property loss only policy. You'll have to get your own property damage / liability coverage from somewhere else.

[The Natural]

So if I have my car financed insurance thru Grundy wouldn't cover everything I need?

[Super Snake]

Another option, this is the coverage I have on my car
****COLLECTOR CAR INSURANCE****:

[Boston Mike]

Originally Posted by twobjshelbys

Grundy is also a property loss only policy. You'll have to get your own property damage / liability coverage from somewhere else.

Wouldn't this be the catch? Liability coverage is as expensive as loss coverage. I knew the cost seemed way too low. I have agreed value policies on both our cars through chubb. Due to my umbrella policy, I have to carry the max liability coverage available (350k combined), so its a little pricy but well worth it.

[VaporDude]

I have my GT500 insured with my regular insurance coverage. If they don't cover the loss of the car, my gap insurance will take care of the rest. My insurance is about the same as Grundy and it is full covered insurance. So I think I have more coverage this way than to go through Grundy.

[Super Snake]

My insurance is based on 120% of an agreed to value of $75,000

[GRABBER]

I checked with Grundy 2 years ago. they told me that I could not take my GT500 to the store to get a gallon of milk or take it on a trip and park it in a motel parking lot. They said I could drive it anywhere....but It could not leave my sight. They said I could also take it in a parade or car shows too.

The denied me coverage because of the questions I asked them. I asked why and they told me that the way I described some of the uses for my car.....that their insurance would not work for me and they could not cover me.

[SLB8SNK]

Originally Posted by GRABBER

I checked with Grundy 2 years ago. they told me that I could not take my GT500 to the store to get a gallon of milk or take it on a trip and park it in a motel parking lot. They said I could drive it anywhere....but It could not leave my sight. They said I could also take it in a parade or car shows too.

The denied me coverage because of the questions I asked them. I asked why and they told me that the way I described some of the uses for my car.....that their insurance would not work for me and they could not cover me.

+1... also keep in mind we are not insuring Bentley's here folks. I think a lot of guys get wrapped up in these cars being some sort of high end luxury exclusive collector cars... They are not! Just get your best rate on a reputable insurance company and call it a day. NONE of them are going to give you collector car insurance, and if they do there are caveats, also good luck collecting. These cars will depreciate, all be it at a lower rate than most, but just the same. You do all realize that most cars (BMW, LEXUS, JAGUAR, BENZ, and so on) are all MUCH higher priced cars than ours?? And they all carry basic insurance just like any other car. Insurance companies will pay what the car is worth (BB) or close, and they someone is willing to pay more (collector car series) you had better read ALL the fine print! Word to the wise.

[JonW]

I've had collector car insurance before, on my musclecars. But it's too restrictive for the Shelby. I worked at a car dealership, and they wouldn't let me drive it to work, even though I could have touched it thru my window if no glass was there. They said unless I was having it serviced, I couldn't drive it to work. There are other restrictions as well, and in the end, it wasn't worth it for me for the Shelby (couldn't drive it to ShelbyFest, etc.)

[GRABBER]

+1

[Super Snake]

Originally Posted by GRABBER

I checked with Grundy 2 years ago. they told me that I could not take my GT500 to the store to get a gallon of milk or take it on a trip and park it in a motel parking lot. They said I could drive it anywhere....but It could not leave my sight. They said I could also take it in a parade or car shows too.

The denied me coverage because of the questions I asked them. I asked why and they told me that the way I described some of the uses for my car.....that their insurance would not work for me and they could not cover me.

My limit was 2500 miles or less per year

[VaporDude]

Originally Posted by Super Snake

My limit was 2500 miles or less per year

Pardon the words but screw that.....I drive mine about 6-8K a year. They would cancel me in a heartbeat.

[1badshelby]

It may not work well with just one car, but I insure 3 mustangs and it is a bargain! I recently had a claim on a cracked windsheild and they paid with no problem and no deductibles! I could not be happier. With Grundy that is!

Mike

[GRABBER]

Originally Posted by Super Snake

My limit was 2500 miles or less per year

It's not the miles. They basically told me how I could use the car and how I couldn't.

That is not for me.

[GRABBER]

Originally Posted by 1badshelby

It may not work well with just one car, but I insure 3 mustangs and it is a bargain! I recently had a claim on a cracked windsheild and they paid with no problem and no deductibles! I could not be happier. With Grundy that is!

Mike

If your car is just a "show car" then I could see how this would work.

[Birdman]

Originally Posted by GRABBER

It's not the miles. They basically told me how I could use the car and how I couldn't.

That is not for me.

Didn't you tell them you had a "bubble" for the car?

[SLB8SNK]

Originally Posted by Birdman

Didn't you tell them you had a "bubble" for the car?

good point!

[Boston Mike]

Originally Posted by 1badshelby

It may not work well with just one car, but I insure 3 mustangs and it is a bargain! I recently had a claim on a cracked windsheild and they paid with no problem and no deductibles! I could not be happier. With Grundy that is!

Mike

My chubb policy has 100% coverage (no deductible) for glass. Again, I pay through the nose, but that's because I am carrying the highest liability coverage possible (I carry a $1,000,000 umbrella policy so that if I were to get into a wreck with an Enzo at my fault, I'd be covered by my policy up to $1million). My umbrella policy covers not just my car, but homeowner's insurance as well. I don't ever want to get surprised by anything. To me, it's worth it and yes, in Dallas, there are lots of exotic cars being driven by a bunch of idiots (I see Lambos, Ferrari's, etc all the time). They also are a no-hassle claim payer (wife's FJ was a great example).