Quote:
Originally Posted by White1SS
I have my 2024 SS1 insured through Grundy. It's insured as a non daily with a couple restrictions, and an agreed value of 45k. 600/yr.
|
I saw this and contacted Grundy for a quote. Agreed value of $40k. $713/year.
Came with these restrictions:
<<<In consideration of the premium charged, it is hereby understood and agreed that any vehicle insured under this policy will be used for hobby purposes and exhibition and will not be used primarily for general transportation. It will not be used for backup transportation, or for errands, except for occasional pleasure use. It will not be driven to work or school or used for business or commercial purposes. The vehicle will not be used for towing, hauling or off-road use.
It is further understood and agreed that any vehicle insured under this policy will not be used to participate in any rally gymkhana, speed contest, race or timed event of any kind.>>>
I guess I'll stick with my current insurer, which is around $1350/year, IF I have full coverage all year. Since I take it down to comp only during storage (Oct-Apr), I'm not really paying $1350, it's probably more like $8-900 total. Granted not agreed value, but I take pics of the car every Spring coming out of storage to prove low miles (around 10k right now) and condition (pristine). That way if I do have a total loss I can argue with the adjuster that it's worth more than the average DD Camaro. According to my (independent) agent, my insurer will listen to appeals for valuation if you don't agree with what they come up with. "They are pretty good to work with" his words. Citizens/Hanover.
The Grundy restrictions are too much. I do drive the car nearly every day in nice weather in the summer, but not to-from work. I could see them arguing that I was driving it more than a "show car" and denying a claim. They could also claim it's a "backup" vehicle, because in essence, it is. If my Adacia breaks, I'll drive the Camaro (unless it's raining. Or winter).