NSX insurance... yet again.. my latest experiance

[Gthong]

I am sure this has been beaten to death... Just a word of caution.

I have had Grundy ins for two years since I bought my 95 NSX.

Renewal time for almost all insurance in my life is Nov 1.. so I am having a hard look at all of it...

Be aware... GRUNDY REALLY DOES NOT WANT YOU DRIVING THAT CAR!!!!. They expect it taken for a ride and returned directly to the locked garage... maybe parked with other collector cars for a couple hours... but do not take it anywhere else!!! AND DO NOT PARK IT ANYWHERE!!!! I'm surprised they let you stop for gas!!

I don't need any debate... I have spoken with then directly in the past couple days.

I will probably end up at Haggerty, agreed value, paying extra to get real coverage, then getting a decent discount to have a 1000.00 deductable... and paying a good bit more than Grundy.

Grundy does not offer a "it's OK to drive it a bit" option

If anyone has a real option other than Haggerty please let me know

I may even go for a "regular" insurance company.. perhaps better to have "real" insurance for something that could happen, vs "guarenteed" coverage for something that probably won't

my .02 based on real world info TODAY

please be warned if you drive your car at all

 

[TomCat]

I asked a couple of "special insurance companies" a few yes/no questions...and wound up just insuring the car as a regular vehicle.
1) I drive it to work when my daily driver is in for maintenance
2) Same as above but divert 5 miles to pick up dry cleaning.
3) I drive to Cars and Coffee once a month.
4) Same as above BUT I detour 5 miles to pick up dry cleaning.
5) I drive it to AutoZone 5 miles from home.
6) Same as above but I divert 3 miles to visit a "car bud's" house.
7) I drive to same AutoZone (which is co-located/adjacent parking lot with a Home Depot) and after AutoZone I move the car 200 feet to the Home Depot to pick up some lightbulbs.
I can not recall how many yes/no/maybes BUT I do recall the last two were "NOs".

 

[shawn110975]

get hagerty tell them your current miles, and unplug your speed sensor ( for repairs LOL ) no miles added and they will never know inless they have someone come to your house to check miles every so often. but the down side to this is you don't know how fast your going

this is just a thought do not try on your car, but shit most are exempt due to age any way so f-it

 

[FF Drifter]

I was considering collector car insurance through USAA (excellent customer service, universally lauded) but then decided to just continue insuring mine as a normal car instead.

 

[Computron]

I have State Farm and was considering collector car policy as well, but then I found out that you cannot suspend coverage when you aren't planning to drive it for a while. Since it rains 9 months out of the year around here, it ended up being cheaper to just insure it as a regular car and suspend it for those 9 months out of the year when it is parked safe and sound in the garage.

 

[jmarksnsx]

A believe a Primer had a total loss with Grundy and they paid the agreed value no problem. Hagerty gave me a hard time when I tried to add the NSX to my existing policy with a 78 280Z on it. My son who is 22 and has a ticket was the issue. He isn't allowed to drive the NSX but they refused. After I went with Grundy, Hagerty called back to apoligize and asked for another chance when my policy is up for renewal.

 

[gmeads]

Infinity collectors insurance gives you the option to tack on additional "riders" that allow you to tailor the policy to your desired use. I added a "drive to work" rider that allows me to take the car into work a certain number of times per year. I was also allowed to choose the desired permitted mileage for the insurance term. Don't get me wrong, there are still restrictions, but for an agreed value policy, I was pretty happy. Total yearly premium in the $600 range with a $1000 deductible.

 

[Gthong]

well..... I don't feel better... but yet I do as I am not alone I will persue that "regular insurance" a bit harder..... even if it sounds like a lot a first... in Michigan you don;t drive for 5 months anyway... and I can cancel the insurance to reduce the cost I am quoted 1305.00/year 40,000.00 agreed value 1000.00 deductable "OK to drive the car , but no commuting to work" Grundy is only 755.00 a year... 38,000 agreed BUT "DON'T YOU DARE DRIVE THE CAR!!!" (and I am quite serious on that point) It's useless insurance unless a meteor falls on your locked alarmed garage. Glad I found out before I had an issue. No Grundy does not offer an "OK to drive a bit" rider THANKS TO ALL

- - - Updated - - -

HEY.. HERE'S AN "ADD ON " QUESTION.. It seems every time an nsx has an accident... it results in a "salvage title"...... would that salvage title trigger a full agreed value payoff??? Thats a big deal..... your thoughts welcome

 

[RSO 34]

It sounds like you decided to take the cheap way out and buy collector insurance coverage which necessarily has mileage limitations because that is why it is relatively inexpensive - they are writing a lesser risk because the car is not driven much.

You say you have the coverage for two years and you are just finding this out now? Sounds to me like you tried to get by with a cheap policy and just drive the way you wanted to anyway as if you had regular coverage. Grundy does have other coverage options also but you need to pay for it.

Sorry but not feeling any empathy since you purchased this coverage to save money under the clearly stated driving limitations Grundy sets.

 

[docjohn]

I use my nsx as a car....therefore I insure it with "regular" unrestricted coverage.......I do remove collision for the real winter months.

 

[DocL]

I think many people don't grasp the notion of what collector car insurance is all about. It is for vehicles that are not intended to be driven daily, or even used for routine chores such as going to get milk. I had my NSX insured with Grundy and it was totaled last year. I got paid exactly what I insured my car for. My father was driving his DB9 and damaged the carbon fiber underbody tray and they replaced it at a cost of $7,500 no questions asked. Those are two insurance claims made by my family, and each time they were settled to our satisfaction.

I like paying a lower premium just like everyone else. However, with collector car insurance I know that I'm going to be limited on how much I can drive my exotic car. It's for that reason that I have three other daily drivers. I take my car out for weekend drives with no destination in mind. I may get a call from the wife to pick up diapers which I do without any hesitation. There is nothing in my policy that says I cannot park and leave the car unattended. I go to car shows, participate in Poker Run's, and Toy Rally's, all are within the scope of use with my policy.

There is one big drawback to Grundy. Once they pay out on a total loss, they will not insure you again with another car. They denied me coverage when I got my Lotus Esprit earlier this year. I ended up getting insurance with American Collector Insurance through USAA. I have a mileage restriction and $500 deductible, neither of which I had with Grundy. I'm paying $8xx.00 instead of $2,400 for customary insurance.

For those of you bashing collector car insurance, it seems like you don't want to play by the rules and are upset that you may get caught cheating. There are cars way more valuable than the NSX insured by these companies. Most people who own collectible cars have other cars intended to be driven daily. The NSX is such a great car, that even a 23yr old NSX can be more reliable that a three year old BMW and these insurance companies know it.

 

[Gthong]

RSO34 and Docl: I hear you.... I too have two other cars to drive..... and I only drive the NSX about 1800-2200 miles a year... and I don't pick up milk or other stuff... I either drive the car and return immediatly and directly to the garage.. maybe drive 20 miles one way to my moms house a couple times a year and maybe once every two weeks to the gym where I park WAAAY out, yet where I can see it.... Honesty.. I did not check out exactly what grundys restriction are 2 years ago ... I figured the low rate is because they knew darn well how carefully we are with these cars and of course had to swear I had three cars and would not drive to work... It's when I really, really investigated... I realized they did not want you driving that car!!! No sense getting into a pissing contest.. my personal feelings are they will screw you given a chance. How are you going to convince them you were "on your way to a car show",,, on a tuesday morning.. at 10 am In retrospect I went with them because of the agreed value, I had always wanted to try that with my Porsches in previous years and had never gotton around to it. The "regular" car insurance would have been the same cost after canceling for the winter months. again.. it's just my .02

 

[BamaFan]

i have Haggerty for two cars. There are no mileage restrictions. It does cost me more to insure my NSX vs. my Lincoln Continental Convertible, even though they are valued about the same. When I asked why, they said newer sports cars are much more likely to get stolen. I buy that.

 

[vivanshah]

I got regular insurance on mine through Geico. Paying $320 a year for comprehensive+collision which seems low, but I'm not complaining.

 

[jmarksnsx]

I think many people don't grasp the notion of what collector car insurance is all about. It is for vehicles that are not intended to be driven daily, or even used for routine chores such as going to get milk. I had my NSX insured with Grundy and it was totaled last year. I got paid exactly what I insured my car for. My father was driving his DB9 and damaged the carbon fiber underbody tray and they replaced it at a cost of $7,500 no questions asked. Those are two insurance claims made by my family, and each time they were settled to our satisfaction.

I like paying a lower premium just like everyone else. However, with collector car insurance I know that I'm going to be limited on how much I can drive my exotic car. It's for that reason that I have three other daily drivers. I take my car out for weekend drives with no destination in mind. I may get a call from the wife to pick up diapers which I do without any hesitation. There is nothing in my policy that says I cannot park and leave the car unattended. I go to car shows, participate in Poker Run's, and Toy Rally's, all are within the scope of use with my policy.

There is one big drawback to Grundy. Once they pay out on a total loss, they will not insure you again with another car. They denied me coverage when I got my Lotus Esprit earlier this year. I ended up getting insurance with American Collector Insurance through USAA. I have a mileage restriction and $500 deductible, neither of which I had with Grundy. I'm paying $8xx.00 instead of $2,400 for customary insurance.

For those of you bashing collector car insurance, it seems like you don't want to play by the rules and are upset that you may get caught cheating. There are cars way more valuable than the NSX insured by these companies. Most people who own collectible cars have other cars intended to be driven daily. The NSX is such a great car, that even a 23yr old NSX can be more reliable that a three year old BMW and these insurance companies know it.

I was hoping you would post here. The real reason to have collector car insurance isn't to save yearly cost but to insure you get what the car is really worth with no hassle. Not the depreciated value the insurance thinks it is worth. Your example is the one I was referring too in my first post.

 

[Lamchop168]

There's no suspending insurance in NY State, you must have liability insurance. I will be storing my car away for the first time this winter. What I plan to do is remove all the premium coverage and leave just the liability during winter. When it's time to come out from hibernation, I'll call and return all the coverage. I pay $850 through Mutual Liberty for the year and I can save $535 during the winter season.

Frankie

 

[Gthong]

in mich you suspend the collision and liability, keep the comprehensive... save a bunch too bad losing the guarenteed value... but at least you can drive it... or go to haggerty... I need to check to see if you can cancel part of Haggerty insurance

 

[jones83]

I have full coverage year around through USAA and there's no complains on my end. Maybe that I wish it was a little cheaper, but I wish everything involving insurance was cheaper. lol It just seems like a case of you not fully knowing your policy. It happens all the time. I will call when I make changes to my policy now instead of just doing it online so I can speak to a representative about current/upcoming changes with each part of my policy and get their educated feedback. They deal with policies more than me. Just some advice.

No need to bash the guy because he was trying to save some cash without fully knowing what was inked into his contract. People make mistakes and lesson learned it sounds like.

 

[Wavey1]

Leyland West... agreed value policy, drive it almost as much as you want but they do want it in a secure garage when parked, pretty cheap IMO.

 

[Gthong]

Looks like I am going to settle on Frankenmuth.. a Michigan company where I have my cadillac and mini van. Just need to decide on "classic car status: or regular car status.
regular... drive anywhere of course
classic... a little limited but agreed value

It REALLY was not to save a couple bucks going with Grundy... I thought the savings came from everyones understanding of collector type cars and the way they are driven and treated... not the fact you cant drive them!!

thankfully nothing bad happened... I hope someone learned something along the way... I DID

 

[robbiedawg]

these threads always make me question what grundy covers.after looking at my policy again,i think it covers less than i originally assumed,but enough to be useful in my case.i got it mostly for the agreed value,but was not opposed to saving some money.here is the relevant policy language-

"B. It is agreed and understood that the following definition is added to the policy:
“Collector vehicle” means a private passenger auto or motorcycle that:
1. Is maintained solely for use in exhibitions, parades, club activities, or other functions of public
interest.
2. Is not used for regular driving to work, school, errands, shopping, general transportation,
secondary or back-up transportation, business or commercial purposes, except for limited
pleasure use."

an insurance policy is a contract,and in law school they taught us that you always start with the language of the contract.if there was just B.1, it would be useless,it's not like i'm a whole lot of parades or those other things.i think B.2 opens it up enough for what i do,which is mostly pleasure driving,with an occasional errand thrown in,because i don't regularly use it for those purposes, and i never use it for general or backup transportation or business.

this is just my opinion, and i am a lawyer,but i'm not your lawyer,so if you get grundy and they don't cover you,you will have to blame someone else (things to blame it on-gluten? global warming? obamacare?) seriously,also remember insurance is heavily regulated in most states,so every state may have a slightly different wrinkle.

 

[jmarksnsx]

these threads always make me question what grundy covers.after looking at my policy again,i think it covers less than i originally assumed,but enough to be useful in my case.i got it mostly for the agreed value,but was not opposed to saving some money.here is the relevant policy language-

"B. It is agreed and understood that the following definition is added to the policy:
“Collector vehicle” means a private passenger auto or motorcycle that:
1. Is maintained solely for use in exhibitions, parades, club activities, or other functions of public
interest.
2. Is not used for regular driving to work, school, errands, shopping, general transportation,
secondary or back-up transportation, business or commercial purposes, except for limited
pleasure use."

an insurance policy is a contract,and in law school they taught us that you always start with the language of the contract.if there was just B.1, it would be useless,it's not like i'm a whole lot of parades or those other things.i think B.2 opens it up enough for what i do,which is mostly pleasure driving,with an occasional errand thrown in,because i don't regularly use it for those purposes, and i never use it for general or backup transportation or business.

this is just my opinion, and i am a lawyer,but i'm not your lawyer,so if you get grundy and they don't cover you,you will have to blame someone else (things to blame it on-gluten? global warming? obamacare?) seriously,also remember insurance is heavily regulated in most states,so every state may have a slightly different wrinkle.

I agree. Item 2 says "regular". I have it mainly for the agreed value.

 

[TomCat]

I have full coverage year around through USAA and there's no complains on my end.

So do I and my 1991 NSX got "totaled" while sitting in a parking lot. USAA was going to pay me "blue or yellow book"...I can't remember which color, but since it was the other guy's fault I went after StateFarm to "make me whole". That was a month long ordeal that netted me ~15% more payout. The best part of the deal was the salvage $s I paid for the car...definitely whole-sale $s.

I actually called USAA and asked them what they would pay out if I totalled my "special" car. The person on the phone looked at Haggerty's value tool and said #2 condition.

 

[kday]

I insured my nsx through local mercury agent and was actually refunded money transferring my policy from my 04 G35 to the 92 NSX

 

[Gthong]

I went for "regular", thru Frankenmuth.... much more chance of a fender bender than a total loss (I hope) and I don't want to have to think about it every time I happen to drive it... "is this for fun".. or am going to stop for milk somewhere?

thanks to all who chimed in