GN Agreed Upon Insurance Value

[tlturbo]

I just talked to Grundy and they said they really didn't have any "restrictions" BUT they didn't really want you taking it somewhere and leaving it unattended. Driving around on a sunny day was no problem, crusing, etc and if you atopped at the store while out, that was OK. They just didn't want you to take it to the Mall, Movie Theatre, and leave it parked while you were inside a good while.

So I guess it would just get down to where something happened to it and what your excuse for it being there was. Kind of a gray area to me.

Terry

 

[turbot2496]

What I want to know is who has ever filed a claim w/Grundy. Reading on their website, looks to me like the car is only covered if its on its way to a show or something. I could see them very easily getting out of paying most claims with these restrictions. I also don't think you would have any theft coverage whatsoever with these restrictions unless the car was at your house in a locked garage when stolen...

282/year is very cheap for a policy thats going to cough up 18k on a car thats driven any miles at all....I would definatly go over the contract with a fine tooth comb because any 'gray' area is gonna go against you when something happens.

Hell I pay 107 every 6m for just liability.....

 

[turbopete]

When I have the time...

I am planning on submitting the application to them without the $$$, being honest about the modifications and driving habits. If they say "OK" then all is good. If not, at least I asked. USAA does not offer an agreed upon value policy, so if I have to claim a loss, then I would have a long road to get a replacement cost.

 

[turbot2496]

It doesn't matter what 'they' say.... it matters what the policy your signing says because if theres a claim thats what there going to wave in your face. Read the policy very carefully and if you have a friend who knows legalize have him read it too.

 

[mikesvwservice]

Went with American Collectors Insurance

I received pamplets from the "big three". I ended up with the one USAA recommended. They cost a little more than Grundy's. What turned me off with them (Grundy's) was requiring two forms to be notorized and a ton of questions about the GN. ACI did my application over the phone and I was covered. I did find out that "racing" is not covered by any of the three...

 

[Steve V]

Racing? You mean on a strip right? I wouldn't expect it covered after all it is at your own risk. But a little stop light to stop light well..... how can they prove that without a witness?

FWIW: I had (still do) progressive on my 1st GN in 2004 when I totaled it(my fault). They offered me 3850..excately what NADA said it was worth in 1/2004 being average condition. I laughed at the adjuster over the phone. Told him I would take no less than 7,000 for it. Asked for a fax number and faxed 10 adds from the sites,ebay,auto trader. Waited 2 weeks(meanwhile I bought another GN ) and I had my $7000,my car had 251,000 miles on it. So I feel that if something like this happens again I'll be ok. When I get older I may do some agreed valve thing,but for now I'll stay where I am at. Asof now value for our cars on NADA and Kelly are up significantly.

 

[mikesvwservice]

Racing? You mean on a strip right? I wouldn't expect it covered after all it is at your own risk. But a little stop light to stop light well..... how can they prove that without a witness?

FWIW: I had (still do) progressive on my 1st GN in 2004 when I totaled it(my fault). They offered me 3850..excately what NADA said it was worth in 1/2004 being average condition. I laughed at the adjuster over the phone. Told him I would take no less than 7,000 for it. Asked for a fax number and faxed 10 adds from the sites,ebay,auto trader. Waited 2 weeks(meanwhile I bought another GN ) and I had my $7000,my car had 251,000 miles on it. So I feel that if something like this happens again I'll be ok. When I get older I may do some agreed valve thing,but for now I'll stay where I am at. Asof now value for our cars on NADA and Kelly are up significantly.

The small print said any competition type, timed event... Yeah, I agree about the "witness" part - just need to make sure it isn't a cop who was the "witness"...

 

[tlturbo]

As someone asked before, is the car covered for THEFT?

Also, it appears the coverage limits vary a lot.
Uninsured motorist, medical, comp and collision, etc.
Since you reviewed all three, how did they stack up on these items?
I would hate to get in an accident and get sued and not have much coverage so they come ater me for the rest.

Terry

 

[mikesvwservice]

As someone asked before, is the car covered for THEFT?

Also, it appears the coverage limits vary a lot.
Uninsured motorist, medical, comp and collision, etc.
Since you reviewed all three, how did they stack up on these items?
I would hate to get in an accident and get sued and not have much coverage so they come ater me for the rest.

Terry

Theft is covered. For TN, the policy was 100k with 1k for medical - all three were the same with one or two having a $250 deductible. Can't be specific as I'm in Puerto Rico doing an Army mission. I'll be back next Weds to where my policy pamplets are - can fill in the blanks then...