Insurance in 2021 for non daily driver cars

I always pass on those. I feel like I’d never be able to relax. It’s routine to cruise on the highway at 75-80mph where I live though I’m sure those trackers would be screaming that doing 20-25 over. And I didn’t get a Ferrari to do 55 mph.


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Not Grundy.

First, they insured my Pur Sang Bugatti, which is a feat in itself.

Second, they paid for a full restoration when it was badly damaged in a building fire.

Sam Grundy picks up my call on the first ring every time.

Matt

 

Similar experience with Grundy back in 2002 or there about when I totaled my 78 308GTS. I talked with the adjuster through the process and wanted the car saved, after a couple days of back and forth, he said no way to do it correctly with the factory parts and simply paid out the agreed value. Had a check in about 6 days. Had one other claim to replace the front bumper on my previous F355spider after catching it on a ferry ramp...quick and painless experience.

I cannot say the same for Farmers, PEMCO, State Farm or any mainstream insurance company...literally thieves.

 

Almost no one cares about anything but the premium they pay.
Almost no one checks how they take care of things when they go sideways.

Matt

 

That's why I'm happy with Chubb. While I haven't had much in the way of claims experience (so far!), family members have and Chubb has been great.

 

FWIW I have had great luck/experience with American Family - I know they are not technically considered a "collector" insurance option but I have had all my cars, watches, townhouse etc. with them for many years and their service (well at least my agent) has been outstanding - even through some "tough times" - I drive my cars frequently enough that I don't limit mileage or anything else - they are all fully-covered with high deductibles but no limits. We did go through a couple years ago and eliminate redundant options like rental car for all but one (figuring with multiple high-performance cars and one DD I really only needed the rental car option on the DD for example) and that saved some money.

Again - May not be a good fit for you but worth checking out perhaps - Cheers

 

Chubb is the only alternative to Grundy in my opinion, but I found it to be more expensive.

Grundy has all my property insurance too.

Matt

 

The underwriter for Grundy used to be Chubb, but changed about 12 years ago.

 

Mine through Grundy are a variety depending on the vehicle and the state (or commonwealth) that they are registered in: AIG and Cincinnati Financial are the top two.

AIG paid out for the burnt Bugatti.

Matt

 

Chubb was at one time the best insurance carrier to have.
This was a few years ago and even though they are still on the top tier, IMO there is one company that is even better.
My wife has been a agent / broker for over 40 years and has had dealings with many companies. She has given me the run down on many of them.
If you like Chubb, then look at PURE. We have them for our personal insurance and couldn't be happier.

Per my wife, there are 3 levels of companies.......
1st) Farmers, Allstate, State Farm best for the first time insurance customer right out of high school and just getting started in life. Policies are often limited in coverage and best for those with less to risk.
2nd) Safeco, Pemco, Liberty Mutual are the middle tier companies that are for your average customers. They will take care of your typical homeowner with your average home and average needs. They might give you push back when a claim comes up and you have nicer / better than average stuff. They might have a harder time understanding the value of higher end items and how they are valued.
3rd) Chubb, PURE best of the best. You pay more (and have to qualify for their products) but you soon forget the cost when you have a claim and are made whole again. They understand high end products and the lifestyles of their VIP customers.

The only thing else to think about is the broker / agent you are dealing with. Make sure you have a good one.
They are your connection to the insurance companies and are there to help you when you need them. Having to call a 800 number and talk with a rep from the company isn't the best way to handle a claim IMO.

Just my 2 pennies for what it's worth,
GG

 

Can we get a few amazing PURE stories where they rose to the level of paying out with zero resistance for anything similar to the restoration of my Pur Sang Bugatti?

I’m very skeptical that it’s as good as Grundy or Chubb.

Matt

 

I have heard many stories first hand on how claims are handled from my wife and from our adjuster friend she mostly deals with. I have also heard first hand from their CEO who told a group of us their commitment to their customers. I am not sure about your experience with your carrier but it sounds like it was a great one. These are nice to hear as often only the bad ones get shared.
I wouldn't want to tell about my wife's clients claims experiences as these are private matters. All I can say is that we could choose any company to insure our property and we use PURE. At one time we were with Chubb but not any longer.
Chubb isn't bad, just not what they once were.

Regards,
GG

 

Isn't PURE basically AIG (or the old "AIG Private Client"), or am I confusing them with someone else?

 

I think you are correct, I was shopping for insurance recently and a number of links for PURE directed to AIG private client systems.


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PURE is not associated with AIG and is a separate company altogether.
The links from one site or company to the other might be from the servers or some other business site. It is a PITA when I look something up and see ads from other sites pop up and try to lure you away from what you are looking for. On a rare occasion, I will find something new and the sites actually help (very rarely).

AIG is AIG and PURE is PURE.
PURE had a merger with Tokyo Marine a while ago but it has been business as usual for them just as it had been before it happened.
Nothing has changed and they continue to offer a great product and service.

HTH,
GG

 

No mention of Hagerty?

 

I’ll have to do some searches. I went with Hagerty but I don’t have an a very valuable car.

 

Am in the process of switching to Grundy. They beat Hagerty by a substantial amount for my 3 collector cars. Ended up bundling 8 cars and 2 trailers that were spread over 3 insurers. Reduced my total premium by >$1300/yr. Coverage is provided through Cincinnati Financial.

 

I just switch to Grundy 3 months ago. 4 cars, home, personal umbrella for 1million. Agreed value for the F12, F430, & M3. 4k mile annually on the ferraris. In Washington due to rain I won't get near 4k miles. They were $3k lower than state farm where they don't offer agreed value coverage.
Same people underwriting as Jim with Cincinnati Financial.

 

I had been with State Farm for cars since 1985 and home since 1995. Switched cars out a couple yrs ago for above reason and also rates were crazy for my kids. Probably switching home out soon.

 

Yeah, same situation here.... cars since 89....home 90. I was a cash cow for them. Low risk client ...no claims since those years. my 1st and only home claim I had was last year. I had a water leak in the house and they were **** as far as service. I took a lot pleasure telling them to discontinue my coverage for all services after I collected my claim for the water damage!

 

Recently left Hagerty for Grundy as Hag could never value my classic boat satisfactorily. Moving cars next...... Boat underwriter is AIG.