Comparing Grundy Insurance vs. Hagerty reveals key differences in coverage and benefits for classic car enthusiasts.Do everything you can to keep your investment in a classic car safe. You have dedicated much time, energy, and money to collecting and preserving these vehicles. Standard auto insurance coverage frequently does not cover classic and antique cars. Grundy Insurance and Hagerty are specialized insurers that can help with this. These two frontrunners in the market provide specialized insurance plans for:
- Agreed value policies
- Comprehensive and collision protection
- Coverage for spare parts and memorabilia
- Insurance for classic car shows and events
If you want to know how to insure your cherished classic automobile collection, our comprehensive comparison of Grundy Insurance and Hagerty can help you do just that. We’ll compare and contrast each provider’s coverage specifics, cost, claims processes, and extra benefits.
Hagerty vs Grundy Classic Car Insurance
Grundy and Hagerty are some of the most well-known names in classic automobile insurance. We can discuss each supplier in greater depth if we want to.
The Insurance Firm of Grundy Grundy Insurance has been insuring collectible cars for over 75 years, founded in 1947. Their forte is insurance for vintage, rare, exotic, and bespoke vehicles. Grundy: A few important things to know
- Headquartered in Horsham, Pennsylvania
- Licensed in all 50 U.S. states
- Part of the Philadelphia Insurance Companies Group
- Strong financial ratings from A.M. Best and Standard & Poor’s
Grundy takes excellent delight in its extensive familiarity with the world of vintage cars. Their policies are tailored to meet the unique needs of collector cars that are 25 years old or older. For collector car collectors of all lines, Grundy has a mission to deliver competitive rates and customizable coverage plans.
All right, Hagerty Collectors for Collectors established Hagerty in 1984. Over the past four decades, they have become a top provider of classic car insurance. Important information about Hagerty is as follows:
- Headquartered in Traverse City, Michigan
- Family-owned and operated company
- Licensed nationwide across the U.S. and Canada
- Excellent financial ratings from top rating agencies
Insuring classic cars is just the beginning for Hagerty, which wants to be the go-to brand for the classic automobile community. Its services include insurance, online valuation tools, a widely read magazine, emergency roadside help, and coverage of important events. Hagerty’s objective is to uphold and advance the culture of automobiles.
Classic, antique, and collector car insurance is the sole specialty of two long-standing companies, Grundy and Hagerty. Unlike regular auto policies, its coverage is designed to meet the specific needs of enthusiasts. Let’s get started with the individual plans offered by each insurance company.
Coverage For Classic & Collector cars by Grundy Insurance and Hagerty
It is important to insure your antique car with the appropriate coverage. Specialty auto insurance is available from Grundy and Hagerty. However, there are essential distinctions in the coverage options.
Agreed Value vs. Stated Value Policies
One of the most notable differences between the two insurers is their methods for determining your vehicle’s insured value. In the event of a total loss, the insured and insurer might come to an upfront agreement over the maximum payout amount under an agreed-value insurance. You can rest assured that the reimbursement will be commensurate with the collecting value of your vehicle.
Grundy offers agreed-value policies.
The policies will be decided by the documentation you supply, value guides, and appraisals. Hagerty’s slightly different model is a Guaranteed Value policy. When determining the insured value, this policy uses resources such as appraisal tools and knowledgeable Hagerty people.
Types of Coverage
Both firms offer extensive protection against physical damage liabilities and total loss scenarios. Here are a few of the most important areas of coverage:
Comprehensive & Collision
Grundy and Hagerty handle damage from natural disasters, vandalism, accidents, and other covered events.
Coverage for Spare Parts and Tools –
Your collector car’s tools, accessories, and spare parts are all covered by their policies.
Coverage for Shows and Events
Both insurance policies cover exhibiting your vehicle at events such as auto shows, rallies, parades, and tours.
Regarding liability, you can choose coverage levels that will safeguard you if your collection automobile causes harm to other people or their property.
Additional Protections Extra Security Measures Included in Grundy’s coverage are your personal possessions in the car and any vehicles pulled by a trailer. As a standard feature, their plans incorporate an Inflation Guard to monitor and respond to changes in inflation.
Conversely, Hagerty provides optional extras, including towing, repayment of vehicle deductibles, and coverage for vehicles that are being restored or repaired.
The basic coverages are similar; however, some subtle distinctions exist between Grundy and Hagerty’s products. Understanding the particular features of the coverage is essential when choosing the correct policy for specific needs.
Pricing and Fee Structures of Grundy Insurance and Hagerty
Pricing and fee structures of Grundy Insurance and Hagerty for classic car insurance:
| Pricing Factor | Grundy Insurance | Hagerty |
| Vehicle Value Determination | Agreed Value based on appraisals, guides, and documentation provided | Guaranteed Value based on Hagerty’s proprietary valuation tools and expertise |
| Sample Annual Premium (1965 Ford Mustang)* | $400 – $800 | $300 – $600 |
| Deductible Options | Flexible, from $0 to $25,000+ | Flexible, from $0 to $25,000+ |
| Multi-Vehicle Discount | Yes, for bundling multiple cars | Yes, for multi-vehicle policies |
| Paid-in-Full Discount | Not specified | Yes |
| Anti-Theft Device Discount | Yes | Not specified |
| Club/Event Discounts | Not specified | Yes, for Hagerty Drivers Club members and event attendees |
| Good Student Discount | Yes | Not specified |
| Other Discounts | Accident prevention course, loyalty/renewal |
Price is a significant factor when considering insurance for a classic car. Although Grundy and Hagerty use comparable rating criteria to determine premiums, they may use different pricing models and offer various discounts. We will examine their pricing and charge structures.
Premium Calculation Factors
Just as with regular auto insurance, your premium rate is affected by variables such as the value of your car, age, number of miles driven, driving record, and location. However, the insurance company for collector cars places a premium on the vehicle’s condition, rarity, and model.
Grundy bases premiums on an agreed-upon insured value you and the firm established in advance. Hagerty’s guaranteed value is derived from its internal resources and data.
Both firms will consider the car’s intended use, such as a daily driver, show car, or low-mileage collector. Cars with more power and acceleration can end up costing more to insure.
Compensation for Deductions: You can find deductible alternatives that work for you and your budget with Grundy and Hagerty. Typical deductibles range from $0 to $25,000 or more.
Although a higher deductible implies more risk, the rates will be cheaper. Collectors often choose a higher comprehensive deductible to protect themselves from disasters like floods and fires while keeping their collision coverage minimal.
Save Money with Bundles The two companies are offering several discounts that can reduce your total costs:
Grundy Insurance Discounts
- Bundling multiple cars on one policy
- Accident prevention course discounts
- Discounts for anti-theft devices
- Good student discounts
- Loyalty and renewal discounts
Hagerty Discounts
- Multi-vehicle policy discounts
- Discounts for anti-lock brakes
- Paid-in-full discounts
- Discounts for Hagerty Club members and event attendees
You can get the most out of your money with either firm if you know what to look for regarding ratings and discounts. But getting tailored quotations for your car and requirements is the only surefire approach to compare cheap options.
To give you a rough idea, insuring a 1965 Ford Mustang through Hagerty may cost around $300-600 per year, while Grundy could be $400-800 annually, depending on discounts, deductibles, and coverage limits selected.
Even little price variations might build up over time for your cherished collector vehicle; therefore, you must review the pricing details.
Insurance Claims: Classic Or Collector Vehicles
No one likes to consider filing an insurance claim for their classic vehicle. But if the worst should happen, you want the claims process to go smoothly. Let’s compare Grundy and Hagerty based on their reputations for customer service and claims management.
Grundy Insurance Claims Process
With Grundy, you can file a claim 24/7 by calling their toll-free hotline or submitting it online. A claims professional will then guide you through the process and next steps.
Grundy has a toll-free hotline and an online form that you can use anytime. After that, a claims expert will walk you through the process.
The shops that make up Grundy’s nationwide network specialize in classic and collector automobile repairs. For your car, go to a repair shop or one of the places they suggest.
The parts’ availability and the damage’s severity determine how long it will take to repair the item. Grundy always employs genuine manufacturer parts and materials for authenticity.
An adjuster inspects the work before payment is issued once the repairs are finished. You can also get a cash settlement instead of paying for repairs.
The Happiness of Grundy Insurance Policyholders Regarding customer service and claim processing, Grundy gets good marks. The Better Business Bureau has given it an A+ rating, and customers have given it 4.5 out of 5 stars on Google Reviews.
Hagerty Claims Process
The first step in filing a claim with Hagerty is to contact their claims department by phone, website, or mobile app. Next, a claims adjuster specializing in vintage vehicles will be assigned to your case.
Hagerty maintains an extensive network of repair shops and partners throughout the United States and Canada. Their attention is directed towards “factory-approved” garages capable of properly restoring vintage cars with the correct equipment and components.
For your convenience, Hagerty has developed a novel software that lets you upload media files, including images and videos, straight to your claims file from your phone.
Review of Customer Service A+ from the Better Business Bureau and 4.6/5 ratings on Consumer Affairs attest to Hagerty’s stellar reputation for satisfied customers. Reviewers rave about Hagerty’s knowledge, service, and enthusiasm for the sport.
Perceived value and price, as well as anomalies or delays in the claims procedure, are two areas that get some criticism.
Grundy and Hagerty are committed to utilizing their expert staff and specialized repair networks for antique automobiles to streamline the claims process, alleviating any stress drivers may experience. Although no insurance company is without flaws, evaluations from satisfied customers show that they strive to resolve issues to their satisfaction.
Read More: Grange Mutual Insurance Customer Service
Additional Services and Perks Offered by Grundy Insurance and Hagerty
Grundy and Hagerty offer more than simply insurance plans; they also provide tools and coverage for the classic & collector cars automobile community. Collectors can enjoy a better experience and get more out of these supplementary items.
Extra Services Offered by Grundy Insurance To help those who are interested in historic cars and want to learn more about them, Grundy has created these resources:
Tools for Vehicle Valuation – The experts at Grundy’s offer estimates and prices for various classic automobiles. Ensuring you have sufficient insurance coverage can be aided by this.
Blogs on Classic Car News & Events —This website posts a guide to car repair, sneak peeks at upcoming events, and news on the classic car industry. Collectors seeking knowledge can find it helpful.
Grundy’s Kids’ Education Programme is an initiative that collaborates with educational institutions and youth groups to introduce students to the automobile’s history, engineering, and collector car culture.
They also organize and support various classic vehicle exhibits, cruises, and enthusiast gatherings throughout the United States.
Extra Assistance from Hagerty Hagerty offers an even more comprehensive range of services, products, and experiences as part of its larger brand entity:
One of Hagerty’s defining characteristics is its valuation tools. It has online tools for evaluating collectible cars, as well as their valuations and price trends.
Join the Hagerty Drivers Club and enjoy unique perks, including roadside assistance, discounts, event access, and the Hagerty magazine.
One such site is DriveShare, which connects collectors with those interested in renting out their historic cars so that others can enjoy the thrill of driving one of these vehicles.
With Hagerty Plus Roadside Assistance, a premium service, collector automobiles can access improved towing, lockout, and other emergency roadside assistance options.
Hagerty is the proud annual host and sponsor of numerous major touring rallies and classic vehicle events in North America.
Programs for Youth — Hagerty provides opportunities for youth to learn about and gain experience in automotive repair and maintenance through various programs and scholarships.
Thus, while insurance is their main product, both businesses also invest in creating tools, services, and experiences for the larger classic automobile community. Collectors can benefit from these additional benefits beyond what their plans cover.
Conclusion
After comparing Grundy Insurance and Hagerty’s coverage options, prices, claims processes, and extra services, it’s clear that both companies are great picks for historic automobile insurance. Your requirements and goals as a collector will determine which provider is the best match due to several essential distinctions.
The Advantages of Grundy Insurance
- Affordable, flexible pricing with lots of discounts
- Agreed Value policies give you control over the insured amount
- Financial solid ratings and decades of experience
- Comprehensive coverage, including spare parts/tools
Grundy may be the preferred option if you’re looking for the most budget-friendly rates. Their transparent agreed value process also allows you to ensure your car is correctly insured for its worth based on your assessment.
Hagerty Strengths
- Guaranteed Value policies using in-house expertise
- A vast network of “factory-approved” repair shops
- Innovative tech like mobile apps and online resources
- Excellent customer satisfaction ratings
- Unmatched classic car community involvement
Hagerty may be the best option for collectors looking for “white glove” treatment and the assurance that their vehicle will be serviced at specialized facilities. One of their main selling points is their events and activities centered around the classic vehicle lifestyle.
Your requirements and goals will ultimately determine the “best” provider. Grundy’s cheaper premiums may appeal to a youthful collector just starting, while Hagerty’s more luxurious services may appeal to a wealthy collector driving a multi-million dollar vehicle.
You should always do your homework before committing to a service. Get quotes for a fair comparison based on your unique car and coverage needs. Make sure you read the policy and deductible details carefully. Don’t limit your consideration to upfront pricing; also think about their service and claims handling reputations.
Protecting your investment in a historic car with insurance is a smart move. Proper insurance coverage designed for collectors is essential, as iconic automobiles can be precious. Grundy and Hagerty are excellent choices for the historic automobile community, even though they take distinct approaches. After researching, pick the service that makes you feel the safest and most secure.
Justin Taylor is the creative force behind Insuranted.com, a premier destination for insightful and trustworthy insurance information. With a dedication to demystifying insurance complexities, Justin strives to equip readers with the knowledge they need to make smart, informed decisions.
