Grundy Insurance

[tims210]

I'm posting this because I need to vent. To begin, my current cobra insurance with American Modern is coming up for renewal. Like any prudent consumer I thought I would shop around to see what the competition has to offer. After searching through Club Cobra I took notes on what companies that members were using. The list included the common names we are all aware of. Hagerty, Heacock, American Collectors, Condon and Skelly, Grundy, etc. I even called the big daily driver companies like Allstate, State Farm, etc. I called them all to get quotes. 20% of them won't insure cobra's anymore. I was fine with that. The rest came in higher than my current rate ($730). I'm also fine with that. When it came down to Grundy they were not only fine with insuring my car but also came in at $411 for the year. They now had my full attention. I asked them to send me an application that included my quote. They did and I must have called them back 3 times asking questions before I submitted it to them. Since the price was miles apart from the competition I had to make sure they were absolutely aware of every detail of what I was insuring. I had them check again with their underwriters to make sure my make, model, etc. was a car they would take. They reassured me again and stood by their quote. Feeling comfortable, I continued to move forward. I took pictures of my car. I provided evidence of my daily driver coverage. I provided a copy of my title. I included a statement that I would be the only driver of the vehicle. I noted that I have no moving violations or claims in the last five years, etc., etc., etc. Then I sent it to them. The next day I get an email stating that since my car is titled as a 1965 replica built in 2012 it would not qualify for "1965" rates. The quote then went from $411 to $823. I called them back for an explanation and to dispute the quote. I made them aware that many Backdraft owners on this site have insurance through them at similar rates as my original quote. They didn't seem to care. They kept referencing that it had to be a vehicle built in 1965. This was something I could not get my arms around. Are they telling me that if it was a real 1965 cobra they would have no problem insuring a car worth $ seven figures for only $411 a year? I wasn't expecting such negligence from a reputable company like theirs. Has anyone had experiences like this? How do your titles read?

Any thoughts or advice are welcomed.

[jhv48]

This happens every day in the insurance industry. Genuine 1965 cars are rated much cheaper than 2012 vehicles. Why? Who knows?

The fact that your car is registered as a 1965 vehicle in your State has no meaning to a national insurance company since, in reality, your car was NOT really built in 1965.
They will rate it as of the year it was actually built, not the year it replicates.
You could have avoided the entire miscommunication by informing them that your car was a 2012 Backdraft Cobra Replica built in 2012.

It's good that you got this cleared up before you had a claim to file. If you misrepresent your vehicle's actual build year, an astute claims rep could be given the ammo to deny your claim based on fraudulent info.

Upon reading your thread, I couldn't determine if you had given them the actual build year or let them believe your car was actually a 1965 build.
If you represented your car as a 1965 cobra when requesting your quotes, the company has done nothing negligent, but you have committed fraud.

[tims210]

I submitted a copy of the title to them. It reads 2012 Backdraft RT-3 and in another column it says 1965 replica.

[jhv48]

Then they didn't read it correctly.

Good thing you realized "if it sounds too good to be true, sum ting wong!"

[Tim7139]

Why the vent? Any insurance company is going on what it is/ when it's made not what it looks like. You, unfortunately made it complicated with 1965 references.
It's like any other hotrod, such as a glass 1932 ford.

[jhv48]

I think the lesson for all of us here is that we have to assume the insurance company, it's agents and underwriters are not that familiar with how to insure our cars. I guess it's up to us to make sure they understand what we really have so that they can rate it properly.
Except, of course, unless you have CSX4206. That car is both original and a replica!

[razerwire]

They know only what is told or sent to them. If you don't tell them exactly what you have you are fooling yourself. Then if you have a claim and they send someone to look at your car and its not what was what they were told, they can and will deny your claim. When I was into drag boats (1960 - 1970) the insurance company's would not insure boats with 1000 hp blown gas motor like myself and most of friends had. It was popular to tell the insurance company's what they wanted to hear back then so you could get insurance on their boat. But those that said they only had 250 hp in their boat were left with no recourse when something happened. I have million dollar umbrella policy to cover any gaps in coverage and it's not that expensive. Back to cobra's, I told Grundy my csx number and they knew what I had, I will see how it goes when I get Bennett car back on the road. I will make it very clear what I have so there can be no questions if something were to happen. The point of csx4206?

[jhv48]

[quote=razerwire;1371441. The point of csx4206?[/QUOTE]

That's a REAL1.

[BADSN8K]

Call Kevin Severance 281 333-3100

They have a product that does not limit miles it is an AGREED VALUE policy.

I have a 2015 Backdraft insured for $439 per year with an Agreed Value of 75000.00

[ASO544]

What company is Kevin Severence with ?

[BADSN8K]

Originally Posted by ASO544

What company is Kevin Severence with ?

Kevin is an independent

here is another company I have found..

Kathy Moore-Stark, CIC, CPIW
Underwriter/Marketing Specialist
Berkley Classics
Continental Western Group (W.R. Berkley Company)
Direct Phone Number 1-507-449-6775
Berkley Classics Team 1-800-603-3330
Fax 1-800-232-9925

Applications and policy changes should be sent to cwgimaging@cwgins.com
Photos may be uploaded to https://berkleyclassicsfileupload.cwgins.com/
Website: Classic car insurance | Collector Vehicle Insurance
Follow us on Twitter at @cwgcollectorcar
Like us on Facebook at www.Facebook.com/BerkleyClassics

[am9648]

I called Kevin - was not competive on my Backdraft and wanted to insure all of my daily drivers to insure my Backdraft.

I went with:
Kathy Moore-Stark, CIC, CPIW
Underwriter/Marketing Specialist
Berkley Classics

Originally Posted by BADSN8K

Call Kevin Severance 281 333-3100

They have a product that does not limit miles it is an AGREED VALUE policy.

I have a 2015 Backdraft insured for $439 per year with an Agreed Value of 75000.00

[ASO544]

What kinda rate did you get ?

[brettco]

Name businesses you know of that get to determine the profit margin they want and then pound the customers accordingly? I sent pictures- got a declared value and repeatedly checked all the info and pay like $90 every 6 months. Hope i never need them but jeesh I told them over and over what I had. It must be the 1965 confusion. I work at a preferred shop that has to document everything to supplement crappy insurance estimates. What's preferred about that? The trust is one direction!

[BADSN8K]

Originally Posted by ASO544

What kinda rate did you get ?

switched to Berkley as well!

436 per year guaranteed value 75 k

[tims210]

switched to Berkley as well!

436 per year guaranteed value 75 k

Now i'm really jealous. Called Berkley and they won't insure Montana LLC's nor New Jersey cars. Just a heads up for others.

[jolsen42]

Try Robbin at Mid West classics. I believe they insure more Cobra replicas than anyone else.
Midwest Classic Insurance

John O

[Blue66]

Prices are all over the place. Prob goin to change mine in July for unlimited miles. Keep the updates goin !!

[jacobsed]

I just got insurance from Grundy for my Superformance. I was very clear that that it was a 2000 Superformance factory built replica and titled as a 1967 Ford Cobra. They confirmed everything with the underwriters and reviewed the pictures. My rate is $425 for an agreed upon value of $51,500.


The policy change document says "1967 Ford Shelby Cobra Replica"

The insurance card says "Shelby / Cobra Roadster 427"

Midwest wanted $675

[jayh]

I have Chubb. Anyone have experience with them. Currently paying 4 n change