Insurance for a GNX?

[kna4977]

GNX owners who do you have your insurance through, what kind of coverage(s) do you have and how much is your premium?

 

[spikestta]

I went with grundy world wide for 300 thousand liability , 75 k covered value , no deductable its about $1000 a year

 

[87gnguy]

I went with grundy world wide for 300 thousand liability , 75 k covered value , no deductable its about $1000 a year

X2. I own an insurance agency and got appointed to write directly with Grundy's... They have my car too.

 

[nash871233]

State Farm Classic Car Insurance is also a good source. But an appraisal is required depending on what you want to insure the car for. I believe that would be agreed value.

 

[L78-Kidd]

I have an agreed value of $90,000 at $300-100 for $1000.. These people do this for a living and they are "The Best" ask for Tamra.

classic car insurance,collector car, muscle car, corvette, antique auto insurance, agreed value insurance, chicago,new york, california, east coast, west coast, usa every state
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[DJ Red Barron]

I have my X clone insured through Hagerty. $1MM coverage across the board, car is valued at $65k. Premium is $750 a year.

 

[GNXcess]

Based on personal experience, you need to stick to one of the dedicated Classic Car insurers. State Farm DOES NOT write Agreed Value, even under their so-called Classic Car/Special Programs. They write Stated Value-- it's trivial to verify this for yourself with a little digging.

Your agent may be the greatest person in the world and God bless him, but when the ditz in the Land Rover (texting about her steamy encounter at the tanning salon) blows a 4-way stop and t-bones your GNX on that warm sunny Sunday afternoon, only one thing will count-- the language of the policy. That policy is the contract, not your agent's assurances or level of "care" or "knowlege" about you & your car. That relationship, however good, is NOT the contract with the carrier.

I used to be in the same boat with State Farm until I got religion quick. Accordingly, I challenge anyone who has State Farm to copy and post their written policy documentation (delete any personal information and VIN) showing that in the event of a verified total loss, they will pay the AGREED VALUE of the vehicle no questions asked.

Once more again-- Stated Value is not Agreed Value. Super Collector Program with Pictures on File is not Agreed Value. "But I Got An Appraisal" is not Agreed Value. Nice Agent who's got your back is not Agreed Value. “But the guy I play squash with has a second cousin who’s son’s wife’s ex-father-in-law had a ’52 Acme and State Farm took good care of him when he lost his valve stems” is not Agreed Value.

Only Agreed Value is Agreed Value.

You should stick with the known collector-only companies, such as:

J.C. Taylor
Grundy
Hagerty
American Collectors, etc.

http://www.turbobuick.com/forums/1766192-post20.html
State Farm will not give "agreed value" in writing on classic cars - Page 2 - Corvette Action Center

State Farm Classic Car Insurance is also a good source. But an appraisal is required depending on what you want to insure the car for. I believe that would be agreed value.

 

[kna4977]

Did some online quotes and here's the info I found. Looks like it doesn't really matter what kind of car it is, and that they just look at the agreed value and charge you X amount of dollars for each $1000 in coverage. I've used Hagerty in the past, but am surprised at how different they are than the others. Looks like in general you can expect to pay about $1000 to $1500 for an agreed value of $100,000 or $10-$15 per $1000 in coverage. Picked $100K cause it's a nice round #. All quotes are annual premiums and based on 300K Liability, 100K Uninsured Motorist, 1000 miles annually, include towing coverage and 100K AGREED value. 0 deductible except where otherwise stated.


JC Taylor Welcome to J.C. Taylor = $1330
Hagerty Hagerty - Collector Car and Boat Insurance = $2200
Grundy Grundy Worldwide = $1434
American Collectors Insurance for Collector Cars and Collectibles | American Collectors Insurance = $1329 ($500 deductible rqd for newer cars)
Classic Classic Auto Insurance Agency/Tach Agency - Classic Car Insurance, Motorcycle Insurance, ATV, Utility Vehicle & RV Insurance = $1081

 

[turbo tom]

what is 1mm coverage?

 

[nash871233]

Based on personal experience, you need to stick to one of the dedicated Classic Car insurers. State Farm DOES NOT write Agreed Value, even under their so-called Classic Car/Special Programs. They write Stated Value-- it's trivial to verify this for yourself with a little digging.

Your agent may be the greatest person in the world and God bless him, but when the ditz in the Land Rover (texting about her steamy encounter at the tanning salon) blows a 4-way stop and t-bones your GNX on that warm sunny Sunday afternoon, only one thing will count-- the language of the policy. That policy is the contract, not your agent's assurances or level of "care" or "knowlege" about you & your car. That relationship, however good, is NOT the contract with the carrier.

I used to be in the same boat with State Farm until I got religion quick. Accordingly, I challenge anyone who has State Farm to copy and post their written policy documentation (delete any personal information and VIN) showing that in the event of a verified total loss, they will pay the AGREED VALUE of the vehicle no questions asked.

Once more again-- Stated Value is not Agreed Value. Super Collector Program with Pictures on File is not Agreed Value. "But I Got An Appraisal" is not Agreed Value. Nice Agent who's got your back is not Agreed Value. “But the guy I play squash with has a second cousin who’s son’s wife’s ex-father-in-law had a ’52 Acme and State Farm took good care of him when he lost his valve stems” is not Agreed Value.

Only Agreed Value is Agreed Value.

You should stick with the known collector-only companies, such as:

J.C. Taylor
Grundy
Hagerty
American Collectors, etc.

http://www.turbobuick.com/forums/1766192-post20.html
State Farm will not give "agreed value" in writing on classic cars - Page 2 - Corvette Action Center

Well, you've definitely given me something to look into!

 

[spikestta]

gnxcess is right I had my gn,tta and now my gnx with Grundy and I don't care how much it cost you can't put a price on peace of mind . there is no hassle no bs conditions ( you can only take your car out the Sunday after a full moon ) type bs . unlimited mileage , agreed value, pleasure driving , no deductible . Thanks good luck

 

[DJ Red Barron]

Based on personal experience, you need to stick to one of the dedicated Classic Car insurers. State Farm DOES NOT write Agreed Value, even under their so-called Classic Car/Special Programs. They write Stated Value-- it's trivial to verify this for yourself with a little digging.

Your agent may be the greatest person in the world and God bless him, but when the ditz in the Land Rover (texting about her steamy encounter at the tanning salon) blows a 4-way stop and t-bones your GNX on that warm sunny Sunday afternoon, only one thing will count-- the language of the policy. That policy is the contract, not your agent's assurances or level of "care" or "knowlege" about you & your car. That relationship, however good, is NOT the contract with the carrier.

I used to be in the same boat with State Farm until I got religion quick. Accordingly, I challenge anyone who has State Farm to copy and post their written policy documentation (delete any personal information and VIN) showing that in the event of a verified total loss, they will pay the AGREED VALUE of the vehicle no questions asked.

Once more again-- Stated Value is not Agreed Value. Super Collector Program with Pictures on File is not Agreed Value. "But I Got An Appraisal" is not Agreed Value. Nice Agent who's got your back is not Agreed Value. “But the guy I play squash with has a second cousin who’s son’s wife’s ex-father-in-law had a ’52 Acme and State Farm took good care of him when he lost his valve stems” is not Agreed Value.

Only Agreed Value is Agreed Value.

You should stick with the known collector-only companies, such as:

J.C. Taylor
Grundy
Hagerty
American Collectors, etc.

http://www.turbobuick.com/forums/1766192-post20.html
State Farm will not give "agreed value" in writing on classic cars - Page 2 - Corvette Action Center

VERY informative post. This should be made a sticky for new people getting into the collector car market. I, too, had State Farm's special insurance. My agent is great and thought I was covered. That is until she sat on the phone for a couple of hours getting ping-ponged back and forth between Underwriting and Claims trying to get a simple answer to a simple question. "Will State Farm pay out the appraised value in the event of a total loss?" The ultimate answer? No. They will pay what THEY feel like the car was worth at the time of incident and will deduct as much as they can get away with.

what is 1mm coverage?

$1,000,000 liability coverage.

 

[Bodybag]

Be very careful with Hagerty, make sure you ask as many questions about intended usage as you possibly can, and be VERY clear about your driving intentions.

Hagerty SUCKS... period!