How is Grundy's insurance service quality in 2022? | FerrariChat

How is Grundy's insurance service quality in 2022?

Discussion in 'Ferrari Discussion (not model specific)' started by Octonion, Sep 26, 2022.

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  1. Octonion

    Octonion Formula Junior

    Dec 30, 2020
    308
    USA
    I understand that this has been answered multiple times in the past but I would like to get a more current assesment of their service. To process my application, they require photos of my cars in the garage, MVR/CLUE report for every driver in the household and a signed "acnowledgement of use" form confirming pleasure use only.

    I appreciate the fact that they are strict about their underwriting process as it keeps their costs down. But I am trying to make sure that they dont give me grief and aggravation if something unfortunate happens and I have to make a claim.

    Some people have also mentioned that they are just a broker and it may be actually be issued by AIG. Is that right?
     
  2. EFerrari34

    EFerrari34 Formula Junior
    Rossa Subscribed

    Jun 19, 2021
    534
    Dallas, Tx
    Full Name:
    Timothy
    That’s not correct. They are insured by the Philadelphia insurance. You cannot drive the car to work, shipping, errands, etc. you cannot use it as a second car. Grundy insurance is only valid while parked at your address, driving to shows & “limited pleasure driving.” If something happens in front of a store or restaurant; there is a very good chance of the claim being denied. Never drive it to work; they are really serious about that. If you want to take it to dinner or to run around town; this is not the coverage for you. If you have a true show car; it should be fine. Just don’t go into shopping complex’s as you run the risk of accident. Don’t take it to dinner. I’ve read their policy word for word.


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  3. Octonion

    Octonion Formula Junior

    Dec 30, 2020
    308
    USA
    Wow! That's super restrictive. I am going to call them tomorrow and ask them for the policy terms before I move forward. They are cheap for a reason i guess.
     
  4. EFerrari34

    EFerrari34 Formula Junior
    Rossa Subscribed

    Jun 19, 2021
    534
    Dallas, Tx
    Full Name:
    Timothy
    They’re cheap b/c it’s true show car insurance. You’re not insured to just drive it around. That type of policy is available through Hagarty & numerous other companies, but it will cost double +. I’ve read the policy 10x. It says you can drive it to shows & “occasional pleasure only drives.” It is insured at hotels as long as you’re in a hotel for a show that you can prove.


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  5. rob

    rob F1 Rookie

    May 22, 2002
    4,129
    Vt
    Hagerty has relaxed a lot of their rules you may want to speak with them. I had my Ferrari insured through them but never had to make a claim. I have my S2000 insured through them and recently had to have the windshield replaced and they covered it without any issue.
     
    Octonion, rob lay and Jack-the-lad like this.
  6. txtony

    txtony Rookie

    May 3, 2004
    19
    Houston, TX
    Full Name:
    Tony
    Have you ever had a claim with Grundy/Philadelphia? I have coverage (agreed value) for two vehicles. While I recognize it does restrict use and thankfully have not filed any claims, I would hardly consider attending a cars/coffee in a shopping area, as an example, a significant risk for claim denial. That is a fairly common area for such events, at least in Houston.

    If you have actual examples with which you are familiar with, please share so we are aware.
     
  7. rob lay

    rob lay Administrator
    Staff Member Admin Miami 2018 Owner

    Dec 1, 2000
    59,404
    Southlake, TX
    Full Name:
    Rob Lay
    It varies policy to policy and state to state, FYI my Grundy 355 policy here in Southlake isn't restrictive at all. All of that and about 50% of what Hagerty quotes plus get agreed value.
     
    Octonion likes this.
  8. rob lay

    rob lay Administrator
    Staff Member Admin Miami 2018 Owner

    Dec 1, 2000
    59,404
    Southlake, TX
    Full Name:
    Rob Lay
    this is just false for most Grundy policies, I'm not going to say they don't write show car policies, but most out there aren't.
     
  9. rob lay

    rob lay Administrator
    Staff Member Admin Miami 2018 Owner

    Dec 1, 2000
    59,404
    Southlake, TX
    Full Name:
    Rob Lay
    Yes, Timothy is spreading crap info.
     
  10. gilly6993

    gilly6993 Formula 3

    Aug 20, 2009
    2,475
    Longmeadow, MA
    Full Name:
    Eric
    I read thorough my Grundy policy and I don’t have the restrictions others are talking about.


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  11. rob lay

    rob lay Administrator
    Staff Member Admin Miami 2018 Owner

    Dec 1, 2000
    59,404
    Southlake, TX
    Full Name:
    Rob Lay
    yep, I went back and read mine again. the wording is almost spot on to my DD policy with Farmers.
     
  12. Octonion

    Octonion Formula Junior

    Dec 30, 2020
    308
    USA
    I was going to drop the application and stay with Hagerty. I will give them a call and get a copy of the policy to review before I switch to them. Thanks for the info!
     
    rob lay likes this.
  13. tritone

    tritone F1 Veteran
    Silver Subscribed

    Dec 8, 2003
    6,863
    On the Rock
    Full Name:
    James
    FWIW: my recent experience with Grundy has been super. Talk to Gwendalyn! She can get it done.
     
  14. Jdubbya

    Jdubbya The $10 Trillion Man
    Silver Subscribed

    Dec 28, 2003
    37,253
    PNW
    Full Name:
    John
    Hagerty used to put a mileage limit in their policies back when I had it. But folks said they never questioned claims.

    I just switched the Maserati to Grundy and I have to say I was a bit put off by the communication and the amount of hoops I had to jump through. They did put a 5k mile/year limit. The policy does say it's for pleasure and shows and such only. I also wanted to switch my DD beater ford Fusion to them and my homeowner's too. Nope, they said they wouldn't even think about covering the Fusion even after giving me a quote on both cars together. Other folks have said they have multiple cars including basic daily driver cars with them...like..... Many people have said that.... Color me confused and somewhat confounded.

    The problem I think is Grundy has several different product lines. What I figured out AFTER the fact was I was dealing the the collector car folks. They have another program called MVP for multiple cars and yet another program for homeowner's and liability umbrella. I got the Maserati switched and that saved me a bunch of money but I was deeply disappointed that nobody at Grundy mentioned these other programs even when I was asking then to try to get it all in one place.

    I ended up switching my homeowner's to Progressive where the Fusion remains.

    I looked at quotes from many companies. I found the comparing tool sites (like nerdwallet and Zebra) were worthless in just about every case. One even asked who I had current coverage with and then the only result after inputting all the info was my current company. Really? I already know what they charge.

    So now I still have insurance with three different companies and am a bit worried by some of the comments about the coverage I did end up with at Grundy.
     
  15. LARRYH

    LARRYH F1 Veteran
    Owner Rossa Subscribed

    Jun 3, 2011
    9,142
    virginia usa
    I have been using GRUNDY for many years. I have zero restrictions on the cars usage and when I buy a car I email them the VIN and description and the value I would like it insured for .. within hours I get an insurance card emailed back to me .. IF I am asking for a value they disagree with , they email me questions about why I think the value should be XXXXX and then we come to an agreement ...
     

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