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09-17-2020, 05:35 AM | #24 |
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This whole thread boggles my mind. Maybe I don't understand your insurance system but here in Ontario, Canada they just want to know how many km's (ie miles) the car is driven to work and back WHEN it is driven, how many km's driven a year and is it used for commercial purposes.
If my insurance company told me I couldn't drive my Z4MR car to do errands, go to work or daily it I'd tell them to go -blank- themselves. I might as well put the car in glass like a die cast model and get trailer to parade it around. Is that what our BMW's are to us?? |
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09-17-2020, 08:36 AM | #25 | |
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Nobody is requiring them to do anything, you buy insurance with restrictions for a lower rate or standard insurance without the restrictions for a higher rate. Very simple and nothing for anyone to complain about.
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09-18-2020, 02:12 AM | #26 | ||
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09-18-2020, 11:16 AM | #27 |
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@Lucky1 - I'm not sure why you have such disdain for collector car coverage. My Grundy coverage is superior in every way to my State Farm policy that it replaced. Significantly less expensive, no mileage or usage restrictions, ZERO DEDUCTIBLES, and agreed-upon value of $35k. And it's not my "fifth car".
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09-18-2020, 12:16 PM | #28 | ||
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Last edited by David70; 09-18-2020 at 03:15 PM.. |
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09-18-2020, 03:03 PM | #29 | |
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09-18-2020, 07:44 PM | #30 |
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No mileage restriction, very slight usage restrictions...
Restricted Mileage or Unlimited Mileage? Some insurance companies restrict the amount of driving you can enjoy during a year’s time – some to as little as 2,500 miles per year. Grundy policies feature unlimited mileage for pleasure driving. Restricted Usage or Flexible Usage? Most insurers restrict the use of classic cars. This means you can’t take it to work or run errands and be covered if you have an accident. Some policies allow hobby-uses only such as touring, parades, and car shows. Grundy wants you to enjoy your car, and allows you to drive your car to work occasionally, as well as going out to dinner and weekend cruising. Contact us if you have questions about how you will be using your car. https://www.grundy.com/insurance-101/
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09-18-2020, 10:46 PM | #31 |
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No, but I read reviews before taking the plunge, and of the reviews I read where people had had a claim experience, all I read was positive comments.
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09-20-2020, 07:46 AM | #32 |
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The major difference is the agreed value part of the insurance. As regular insurance will pretty much cover book value only, you can get really screwed if you were to have a major accident with a collector/semi-collector car that trades for significantly over book value.
For example, If you just paid 40k for a ultra low mileage semi collectible E86Z4M coupe, and have regular insurance coverage, they may only pay out $15k-18k if it were totaled. Where if you had agreed value at 40k from Grundy or Hagerty, you would get the full 40k. And yes, they really do pay out. |
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09-20-2020, 08:21 AM | #33 |
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^This.
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