Grundy customer, Lance Wheeler, says that if it was not for Grundy’s Agreed Value insurance coverage, he does not believe he would have been able to get his car back on the road after an unfortunate accident, because of the cost to repair the damage.

Not only had Lance poured a lot of heart and soul into this car over the fourteen years of perfecting his rare 1967 427 Corvette Coupe—he had also invested quite a bit of money that he would not have easily come up with, on the spot, to repair the damage.

Wheeler says that Grundy Worldwide kept things in motion with his claim, in order to get his car back on the road—and, he didn’t go broke, in the meantime!

“For a bad situation, Grundy made it good. If it was not for Grundy, a whole lot of avid car enthusiasts like me couldn’t afford to have these cars, more or less, drive them. If not for Grundy Worldwide, the muscle car movement would not be nearly as strong and lively as it is today.”

“When it comes to collector cars, with other insurance companies, it is unbelievably expensive,” continues Wheeler. “Auto insurance is a necessity, and this is one heck of a program. It’s phenomenal.”

During financially tough times, car collectors across the nation can rest assured, knowing that Grundy Worldwide still offers the same low, low rates they have always offered, while increasing the benefits of their Agreed Value policies. 

In most states, Grundy policies include: no model year limitations; inflation guard protection; repair shop of your choice; no mileage limitations; auto show medical reimbursement; automatic coverage for newly acquired vehicles; trip interruption coverage included up to $600; spare parts coverage included up to $500; and towing and labor costs included up to $250. 

For such an all-inclusive package, some may be shocked to learn that, often, Grundy’s rates come in over 70% less than those of mainstream insurance companies. And, as hobbyists, the Grundy family and the company’s underwriters understand the insurance needs of fellow car collectors; therefore, the company’s insurance coverage is tailor-made specifically for enthusiasts of old cars.

Grundy Worldwide has insured collector cars since 1947—longer than any other collector vehicle insurance agency. In fact, the Grundy Agency “invented” Agreed Value insurance, which nowadays is considered a “must have” on a collector car.  Other types of coverage my leave a car collector in a real financial bind, if a claim arises— so, why take that risk?

Some people, including insurance agents, mistake Stated Value for Agreed Value. One of the biggest misinterpretations in the collector car insurance industry is that the two types of coverage are practically the same. This is wrong; there is a difference.

“There is a huge difference between our Agreed Value policy and a Stated Value policy,” says Chuck Wasoski, VP Collector Car Insurance at Grundy Worldwide. He says that a collector will end up in financial turmoil if they are not properly covered with an Agreed Value policy.

“If a collector car owner buys a Stated Value policy and experiences a total loss or has their vehicle stolen, that person may learn the hard way that the car was not covered properly,” says Wasoski.

Stated Amount forms say that the insurance company will pay the lesser of: a) The Stated Amount, b) the cost to repair the vehicle that doesn’t exceed the Stated Amount or c) the “Actual Cash Value.” And, with that third statement, a claims adjuster is allowed to settle your claim for less than the Stated Amount.

This is why all collector car owners “must have” an Agreed Value policy.  

With today’s economy, people are watching their wallets more than ever.  As a collector car owner, wouldn’t you feel more secure, knowing that if your Grundy-insured car is stolen or totaled, you will receive a check for the amount that you and the company agreed the collector vehicle is worth?

Maybe it’s time to check your coverage and your insurance bill. To see how much money Grundy can save you, while protecting your car with all-inclusive Agreed Value insurance coverage, visit www.grundy.com or call 800-338-4005 for a quote today.

Story by: Becky McLaughlin, Newsletter Editor