Insurance question: GEICO as primary with Grundy as supplemental?

[BigWhimsy]

Hello all,

I am attempting to daily my recently-acquired 500E and am in the process of shopping for insurance. Note this is a Euro-spec import to CA, had some initial troubles registering with CA DMV and am still waiting for final confirmation from Sacramento. In addition, the grey-market status of the car makes it slightly tough to insure as well.

I recently got a quote from Geico for ~$170/month for standard (not Agreed Value) insurance and wanted to get some additional Agreed-Value insurance on top of this from Grundy.

I'm not sure what the logistics/semantics are about having two insurance policies on the same car, but I'm under the impression that Agreed Value/classic car policies are traditionally 'supplemental' meaning they recommend you carry other insurance in addition.


Any other experiences with insurance on these grey market cars and carrying two policies on one car?

 

[gsxr]

I've never heard of 2 separate carries/policies on the same car. All you need is agreed-value from Hagerty, Grundy, etc. As long as the car won't be your daily driver, there shouldn't be an issue. More details at this thread.


BTW, weclome to the forum! You can post an OWNER thread with some photos of your new ride.

 

[Alphasud40]

I recently looked into agreed value with classic cars. Liberty is the only company I found that stated they would write a policy for agreed value if you are going to drive it to work. Hagerty does agreed value as well but only for pleasure and show. I have never heard of 2 polici from difent insurance companies. Thats like placing a humidifier and dehumidifier in the same room to let them fight it out. Insurance companies have been very frustrating for me. Not a whole lot of good things to say. Body shops have been squeezed so hard it’s hard to find one even willing to work on a classic car claim. At least in my area PNW.

 

[yevgenievich]

There are couple of agreed value policies that are ok with driving. I used to daily drive viper gts and it took a while to get the insurance right. Was one of the USAA partners

 

[svhamelly]

Never heard of 2 policies on one car... I'm guessing neither insurer would be excited about that!!!
I had Grundy and recently switched to Hagerty. Got literally no support from Grundy, although it was dirt cheap, the customer service was nonexistent for me. My Hagerty rep is a real car guy and shows up at many of the same car events I attend.

 

[tanger]

Personally, I've been debating moving it off a Hagerty agreed value policy (with it's limited driving allowance + it's nuts expensive), and just putting on my regular AAA insurance and saving thousands a year. Am thinking I would actually drive it more (like use it as a daily for a week a month). Getting to the point where I'd rather drive it around whenever I feel like it vs. babying it for an agreed value policy.

 

[skikrazey]

My Insurance Agent writes Classic policies all over. I have Grundy agreed value. You must have a Daily Driver on a policy with another agency.
Kim Spiece 610-451-1249 She has saved me lots of money over the years!

 

[LWB250]

Personally, Ive been debating moving it off a Hagerty agreed value policy (with its limited driving allowance + its nuts expensive), and just putting on my regular AAA insurance and saving thousands a year. Am thinking I would actually drive it more (like use it as a daily for a week a month). Getting to the point where Id rather drive it around whenever I feel like it vs. babying it for an agreed value policy.

The point my agent made when I suggested this approach was that it was a bad idea. Why? Because on a "regular" auto policy you're highly unlikely to get paid out for the actual value of your car. And you'll also have to fight tooth and nail to get every penny. With a stated value policy the underwriter has agreed the car's loss would be worth a specified amount. Game over.

It's my experience that Hagerty doesn't care/check your miles nor prevents you from occasionally driving the car to work or somewhere else. They clearly don't expect you to be using it for a daily driver, but they don't limit you to specific miles a year or only certain types of use, like parades or car shows, for example. That's one of the things I like about Hagerty's policies. If we suddenly decide that Mrs. Dan and I are having a "date night" and we jump in the car and go get some dinner, that shouldn't be a concern.

Tough to find a parade or car show on short notice...

Dan

 

[BigWhimsy]

The point my agent made when I suggested this approach was that it was a bad idea. Why? Because on a regular auto policy youre highly unlikely to get paid out for the actual value of your car. And youll also have to fight tooth and nail to get every penny. With a stated value policy the underwriter has agreed the cars loss would be worth a specified amount. Game over.

Its my experience that Hagerty doesnt care/check your miles nor prevents you from occasionally driving the car to work or somewhere else. They clearly dont expect you to be using it for a daily driver, but they dont limit you to specific miles a year or only certain types of use, like parades or car shows, for example. Thats one of the things I like about Hagertys policies. If we suddenly decide that Mrs. Dan and I are having a date night and we jump in the car and go get some dinner, that shouldnt be a concern.

Tough to find a parade or car show on short notice...

Dan

Yeah agree with you on this for sure.

Hagerty already declined me because I responded incorrectly to their question - "how many miles do you plan on driving a year". Answer: around 5,000 (apparently threshold is 4,000).

Blew it.

 

[LWB250]

Yeah agree with you on this for sure.

Hagerty already declined me because I responded incorrectly to their question - how many miles do you plan on driving a year. Answer: around 5,000 (apparently threshold is 4,000).

Blew it.

That stinks. Reminds me of one of the mainline insurers, maybe the lizard, who would do a rapid-fire set of questions when you were getting a quote over the phone, one of which would be, "Do you have any speed detecting or radar devices?" or something to that effect. They got me one time when I inadvertently answered "Yes" as Mrs. Dan had a radar detector. "Thank you for calling." <click>

I have been successful in asking about limits up front, so I know what their expectations are. I don't think I would say more than a couple thousand miles a year if that anyway, not that I would expect to drive more than that.

Dan

 

[gsxr]

The gecko/lizard not only will ding-dong-ditch you if you dare to admit to using fuzzbusters, years ago they also were donating radar units to police departments. I'm not a fan of revenue generation and don't want to fund any part of it, so I'm not a customer.

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