GCD1962

Here is the info I received today:

Dear Valued Policyholder
Since acquiring Grundy Worldwide in 2005, Philadelphia Insurance
Companies (“PHLY”) has partnered with Jim Grundy and his staff to
administer our Collector Car insurance program. While we appreciate
Jim’s work on our behalf, effective October 20, 2011, you will now
work directly with PHLY for all your Collector Car insurance needs.
We have dedicated Collector Car Customer phone numbers as follows:
Collector Vehicle
Customer Service
877.438.7459

Collector Vehicle
Claim Reporting
800.765.9749 / fax 800.685.9238

We are also excited to announce that you have the ability to
receive and pay for your policy online. We will be mailing out your
renewal approximately 45 days prior to the effective date of your policy.
At that time, you will receive instructions on how to view and pay for
the policy online. Please feel free to contact us with any questions.
We look forward to being of service to you!
Sincerely,
Collector Vehicle Support Team
GRUNDY WORLDWIDE
A division of Philadelphia Insurance Companies

As is often the case, when one company buys out another they start to make changes to re-coup the money they paid for the business. Not saying anything is changing drastically, but it would bare watching

GCD1962

I found this on Grundy's site which explains the reasons for the changes


Is Grundy Still my Insurance Agency?


As of October 20, 2011, Philadelphia Insurance (PHLY) has assumed administrative responsibilities of policies previously issued under the name "Grundy Worldwide" in all states except Massachusetts and South Carolina.

In 48 states, PHLY has imposed a "non-compete" on Grundy Insurance at the current time, which prohibits us from writing new Collector-Car-Only policies. We hope that in the future, the non-compete is reversed, rescinded or expired. Until that time, we can insure collector vehicles, but only in conjunction with other policies.

If you want to take advantage of our expertise and legendary service, please check out our two new, breakthrough insurance products. We believe these new programs will evolve to be the future standard of insuring all your vehicles.

The Programs

•The "MVP" all-in-one policy offered through our Motor Vehicle Program
◦Our "MVP" policy offers you Agreed Value coverage on all of your motorized vehicles, including everything from daily driver and exotic specialty cars to motor homes and motorcycles.

and more,

Philadelphia Insurance Companies is the marketing name for the property casualty insurance operations of Philadelphia Consolidated Holding Corp., a Member of the Tokio Marine Group. In the United States, all products are written by insurance company subsidiaries of Philadelphia Consolidated Holding Corp. Coverage may not be available in all jurisdictions and is subject to actual policy language. Certain coverage may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds. Non-insurance products and services may be provided by independent third parties.

###

Adam Boca

Check out the site and throw together a quote. If you put together a quote and submit it, I will send off an email in a matter of hours, I promise! We can get the ball rolling and get all the information needed I get a policy inforce on the 2nd, no problem at all! I can immediately issue ID cards to satisfy all state requirements. Shoot me an email at adam@corvettemuseum.org and I will gladly respond.

Thanks!!

Adam

62Jeff

I can vouch for that.

ffas23

Adam,
Doing up a list of my Vehicles and the current agreed value that I have with Grundy Worldwide. I will list other info also. Should have it to you within the hour. Hope your website will let me list all 8 vehicles. Tried to do the same at American Collectors this afternoon but it stopped at 4 vehicles and then the website told you to call their phone number if more then 4 vehicles were to be insured. On second thought I think I will just email this info to you and you can see what you can do for me with the info I give you.

Frankie the Fink

So does anybody know what happens if you exceed your mileage agreement with these companies. E.g. if I insured at 3,000 miles a year or less and for some reason put on 3,750 one year and had to file a claim -- what happens ?

Adam Boca

Hey Frankie,

I just ran a quote on www.ncminsurance.com based off of $56K in value, $1K Deductible, 3K miles per year, 100/300 on both Bodily Injury and Uninsured/Underinsured Motorists and I came up with $323 per year. This does nto factor in any additional discounts that you may be entitled to. I really think I could save you some money.

As to your mileage question...We should really fine tune mileage to what will truly fit your needs. If you select the 3K per year, and you only drive it 2K miles the first year then you have 4K you can drive it the next year. Much like cell phone minutes, we can roll over miles. If midyear you want to increase the miles to 6K, just call me up and I will take care of it.

I hope this answers your questions.

Thanks!!

62Jeff

Outstanding, that's great to know. Like cellphone minutes that part part of a company plan, if I put multiple cars on the NCM policy are all of their miles aggregated into a massive roll-over? I.E. can I roll-

tuxnharley

Mike -

How do you get State Farm "Collector Car Policy" with agreed value? I have all my cars, bike, and house with State Farm, (at "stated value") and my agent isn't familiar with that program you have. He says State Farm doesn't do Agreed Value, only stated value even on the Collector car policy. I've been looking at switching to Hagerty, Grundy, or NCM for the toys and just keeping the DDs and house with State Farm. What can you tell me?

Thanks,
Glenn

Adam Boca

Jeff, glad you approve!! It is per vehicle, and not pooled per policy....

GCD1962

My '62 from Hagerty (this is from the renewal due in Jan)

Agreed Value $60k
Body injury & Liability $500k
Medical $5,000
UIM, $500k per accident

Cost for the Corvette - $334
Cost for '40 Chev ($20k agreed) - $100
Cost for '68 Impala Wagon ($14k agreed) - $87

All have no deductible and no mileage limits

Total cost for all three cars - $684 yr

JohnZ

Depends on what state you're in - State Farm only writes "agreed value" coverage policies in certain states.

tuxnharley

Ah - thanks. Guess I'm S.O.L. here in CA - as with many things..... Time to switch after the 1st of year!

scopeli

i get cheaper rates at state farm. $75,000 for $273 annually, $85,000 for $298, $110,000 for $341. all are $500,000 coverage, $1000 deductable, road side service.

Xander

Spoke with Grundy a couple of months ago and was told that they were not accepting new policies. I felt like that was a red flag: might not have enough assets to fulfill claims. I asked the rep why and there was a long pause. That was enough for me.
Spoke with Adam, he was a gent and very informative but didn't write in New York.
Was pointed in direction of am collectors and service was excellent, felt prices were competitive and based on others experience will pay a claim should I have one.

Old Vet

Not to throw a wrench in but...... what about insurance on Restomods? And how do you place an accurate replacement price?

Cobra66

Heacock has been insuring our three "fun" cars for the past few years. They insure these three cars for about half what Grundy charged me in the past but with about 40% greater "agreed value." Haven't had to make any claims so far, and hope never to have to! Might be with a look.

Frankie the Fink

That's pretty incredible...I'm thinking there is a catch...is this a bundled price for all your cars, house etc or is there some usage limitation ?

scopeli

bundled rates only apply to my vehicles with non-negotiated values. the negotiated value cars have to have full coverage all year and come with no premium deductions. other corvettes that i have not negotiated a value for, have multiple line deductions and can have reduced rates when not in use. when not in use i pay $14.47 every six months with a $50 deductable comprehensive on my 74 corvette.

Frankie the Fink

Guess I'll have to call SF and see what is up...I can't see how you are paying close to my current rate in the one instance but you get double the coverage with the same deductible...