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Grundy - what gives?!

Discussion in 'Ferrari Discussion (not model specific)' started by Perfusion, Jan 9, 2006.

  1. Perfusion

    Perfusion F1 Rookie

    Oct 16, 2004
    4,108
    Marietta, GA
    Full Name:
    Aaron
    I recall a Leland West thread from not too long ago, and that a certain someone was turned down trying to insure his 348 Spyder. They told him that b/c his daily driver was worth less than the 348, he couldn't be covered.

    Well...this morning, I called Grundy to get a quote for a couple cars that I'm looking at (308QV, 308 GT4, and Mondial). The girl told me that they will not insure a '74 or newer Ferrari if it is the only car in the collection. At first, I thought she meant that they couldn't insure it b/c they won't allow daily drivers, but when I made it clear that I would NOT be using it that way, she said that it was b/c it would be the only vehicle on the policy.

    So I guess the long story short is, if you are searching for insurance for a '74 or newer Ferrari, Grundy won't cover you unless you are 1) have another "specialty" car that you can switch over to them, or 2) are buying two cars at once.

    Go figure...
     
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  3. indaville

    indaville Formula 3

    Oct 6, 2005
    2,275
    Louisville, KY
    Grundy turned me down as well. Hagerty picked me up. Still don't understand why Grundy said no to a 1983 308??
     
  4. Perfusion

    Perfusion F1 Rookie

    Oct 16, 2004
    4,108
    Marietta, GA
    Full Name:
    Aaron
    No kidding...you'd think they'd consider these cars "easy money", as there are plenty of them (to be insured), they change hands more often than a 250 Lusso, aren't typically totalled by their owners, and are generally treated like pure GOLD, as they are a common first-Ferrari.

    Oh well...their loss. Hagerty quoted me $217 for the YEAR!
     
  5. Dave328

    Dave328 Formula 3

    Nov 24, 2002
    2,133
    New Orleans
    Full Name:
    Dave
    Hmmm. Must be a new policy. I insured my 1988 328 last august with no problems. They did say that my '06 Ducati was too new to insure with them even though I already have a policy when I called last month.

    Dave
     
  6. ferrari4evr1

    ferrari4evr1 Formula 3

    May 8, 2005
    1,222
    I think Grundy is great. Over the years they have insured my 84' 308gtsi, 88' 328 GTS, BMW Z3 coupe, 03' MV Agusta SPR and my current 05' Copperhead edition Viper. I'm surpirsed they would turn some people down with the F_cars mentioned in here...
     
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  8. Lusso5

    Lusso5 Karting

    May 2, 2005
    69
    Houston, Texas
    Recent quotes I got from State Farm on a 78 308 GTB, and an 86 Mondial Coupe, were both under $90 a month. Might be worth a call to them.
     
  9. LSU348

    LSU348 Formula 3

    Dec 19, 2003
    1,032
    Sugar Land
    Full Name:
    Mike
    Mine is full coverage with USAA and I pay 26.66 a month. My driving record and history are perfect though. I have been with them a long time. You have to be a veteran or family to a verteran to use USAA.

     
  10. Bandit

    Bandit Formula Junior

    Dec 21, 2003
    491
    Central MS
    Full Name:
    Mike B.
    Interesting. I have USAA as well and they would not provide anything except liability and uninsured motorist on my 1986 328. The very nice rep told me that they had a policy against new coverages on vehicles more than 15 years old because of the greater chance of expensive repairs versus the car's value. They recommended American Collector's Insurance for full coverage which is what I wound up going with.

    Do you qualify yourself, or is your parent a veteran? I am the child of a veteran and go through USAA CIC which was set up for dependents. I can get insurance coverage, but don't get the voting rights of being a full-fledged member. Maybe that is the difference.
     
  11. ernie

    ernie Two Time F1 World Champ
    Lifetime Rossa Owner

    Nov 19, 2001
    22,063
    The Brickyard
    Full Name:
    The Bad Guy
    In short, you got turned down because the insurance companies want to collect money and never have to pay it out. Simple as that.
     
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  13. LarryS

    LarryS Formula Junior

    Nov 14, 2003
    302
    Fremont, CA
    Full Name:
    Larry S
    I also think Grundy is great.
    Under $400 a year for 34K agreed value, zero deductible.
    I had a claim, handled better than any claim I've ever had, 1st class.
    My only other vehicle is a 98 Toyota Tacoma (insured elsewhere).
     
  14. sparta49

    sparta49 F1 Veteran
    Owner

    Mar 3, 2001
    7,794
    LA
    Full Name:
    Frank
    That is what they told me also. Nothing newer than 74 if it was the only car. However I know of another member here who has a '80 308 GTSi that is his only car on the policy and he has it insured with Grundy
     
  15. Gatorrari

    Gatorrari F1 World Champ
    Silver Subscribed

    Feb 27, 2004
    14,102
    Georgia
    Full Name:
    Jim Pernikoff
    I tried Grundy two years ago when I bought the car and they told me that was their policy: they would not insure a car less than 25 years old unless it was part of a larger collection that did have at least one car that old. So I went with Hagerty.
     
  16. Ronbo

    Ronbo Formula Junior

    Aug 2, 2005
    413
    Morris County, NJ
    Full Name:
    Ron
    I just had the same experience as others: the Grundy rep said that they were not writing policies on F-cars unless they were part of a collection (even if there were only one additional car!). I have a quote from Hagerty of about $1,850 for 100/300 and a 500 deductible, which is higher than I've seen elsewhere but at least Hagerty wants my business.

    Ironically, I went through my agent because I ensure almost everything with Chubb (who uses Grundy for their collector car products). Oops! My very embarassed agent is now trying to find an appropriate policy elsewhere. I will post if she comes up with anything clever. Otherwise, Hagerty it is.

    Ron
     
  17. BigTex

    BigTex Seven Time F1 World Champ
    Rossa Subscribed Owner

    Dec 6, 2002
    74,279
    Houston, Texas
    Full Name:
    Bubba
    You guys just need more Ferraris! LOL!

    I am working with Grundy on my "collection", but they are pretty strict, even excluding usage for "errands" if on a collector car policy.

    I guess now we'll 'tour' and 'rally' into town for a Sonic burger........
     
  18. BigTex

    BigTex Seven Time F1 World Champ
    Rossa Subscribed Owner

    Dec 6, 2002
    74,279
    Houston, Texas
    Full Name:
    Bubba
    State Farm carried the coverage on my two Ferraris for a long time, agreed value......the horror started when another motorist smashed into my Ferrari, insured by them, as well......

    All of a sudden Superglue and JB Weld were accepted repair methodology......it was an eye opener!
     
  19. bst1

    bst1 Formula 3

    Aug 13, 2005
    1,034
    MARYLAND
    Full Name:
    BARRY T
    Grundy insures my 1995 F355 spider....they were less than Hagerty despite more liability coverage and no deductible. I only have one Ferrari (DAMN!) and they only insisted on having a garage , not to used as a commuter and ownership of a daily driver. Maybe it is a state of residency issue?
     

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