Grundy Classic Car Insurance is a provider of specialized insurance for vintage cars, offering both basic and full coverage, as well as uninsured motorist insurance. Their policies are personalized to suit your needs and budget.
Your collector car may become more valuable over time, and you’ll want your insurance to keep up. With most classic car insurance, you and your insurer agree in advance on how much your car is worth, and that’s the amount you’ll get if the car is stolen or totaled.
Grundy’s optional Motor Vehicle Program adds a cushion: You can get up to 150% of the insured amount if your car’s value has gone up.
Grundy Classic Car Insurance Overview
Grundy Classic Car Insurance was first established in 1947 and now has almost a century of auto insurance experience. They’re also the largest insurer of hot rods in the U.S.
Grundy Insurance provides you with customized classic car coverage, with policies that suit your unique needs and preferences. If your car has rare auto parts, or a high market value, Grundy Insurance is still able to provide full coverage.
Grundy Classic Car Insurance is also able to be bundled for a discounted rate with the following policies:
- Regular-Use Automobiles Insurance
- Valuable Collections Insurance
- Home Insurance
- Classic Boat Insurance
- Comprehensive Casualty Insurance
Grundy car insurance coverage options
Policy types
- Regular-use vehicles
- Collector cars
- Trailers
- RVs
- Exotic cars
- ATVs/UTVs
Grundy’s primary niche is collector vehicles, and drivers can’t purchase a policy from them unless they have at least one classic car to insure. But the company also insures many other common types of vehicles for those who want to manage everything in one place.
How much is Grundy classic car insurance?
Grundy Insurance is an excellent choice for classic cars with rapidly increasing appreciation. The car insurance provider guarantees 100% of the vehicle’s value in a covered total loss scenario and allows policyholders to reevaluate their car’s agreed value as needed.
Grundy boasts an accredited A+ rating from the Better Business Bureau (BBB), indicating the company’s dedication to resolving customer complaints and issues. The insurer offers the standard types of car insurance coverage — bodily injury liability, property damage liability, collision, comprehensive, personal injury protection, medical payments and uninsured/underinsured motorist.
The classic car insurer also offers spare parts coverage up to $500, trip interruption coverage up to $600 and towing and labor coverage up to $250.
Pricing
Grundy auto insurance rates tend to be fairly affordable, especially since its policies don’t have mileage restrictions. It offers pretty affordable rates on classic cars, especially considering it doesn’t impose any mileage caps like other classic car insurers. But exact costs depend on a variety of factors, including the driver’s accident history and the agreed-upon value for the vehicle.
The best way to know what Grundy will charge a specific driver for auto insurance is to reach out and get a quote.
Discounts
Grundy doesn’t advertise any auto insurance discounts, but the company manages to offer pretty affordable rates anyway. Drivers can also keep their costs down by purchasing only the coverage they need and working to maintain a clean driving record.
Perks
The company pays agreed-value coverage on all vehicles and offers flexible policies with no mileage restrictions. It also doesn’t charge deductibles in most states.
Customer service
Grundy’s customer satisfaction ratings are about average. But it’s difficult to know how the company stacks up to better-known auto insurers as it hasn’t featured in any large-scale customer satisfaction surveys.
Grundy auto insurance at a glance
Coverage options:
- Bodily injury liability coverage
- Property damage liability coverage
- Uninsured motorist coverage
- Underinsured motorist coverage
- Personal injury protection (PIP)
- Collision
- Comprehensive
- 150% replacement coverage
- Breakdown assistance
- Rental car reimbursement
- Emergency living expenses
- Original equipment manufacturer (OEM) parts
- New vehicle replacement
- Full glass coverage
- Waiver of deductible
- Personal property
- Pet coverage
- Cash settlement option
What coverages are included?
- Collision Coverage: Damage caused to your car during an at-fault accident gets covered. This policy doesn’t include medical bills.
- Comprehensive Coverage: This covers damage done to your car that isn’t caused by another vehicle. It includes theft, severe weather, a falling tree branch or telephone pole, etc.  Â
- Uninsured motorists coverage: If you’re involved in an accident with a hit-and-run driver, your auto repairs get covered.
- Property damage liability: Damages caused to someone else’s property during a collision are paid for.
- Bodily injury liability: You’re covered for injury that you cause to someone else. This is an essential service if you drive daily.
What types of vehicles are covered?
- Most types of vehicles 25 years old and older.
- Modern muscle cars
- Exotic cars
- Modified vehicles with higher-performance engines, suspensions, and modified bodies
Top perks
Agreed value coverage on all vehicles
Grundy works with drivers to come up with an agreed-upon value for all vehicles, whether they’re classic cars or cars used for everyday driving. If the vehicle is totaled, Grundy will pay up to the agreed-upon amount, regardless of whether the actual value of the car has depreciated since then.
No mileage restrictions for pleasure driving on collector cars
Grundy doesn’t permit drivers to use collector cars as their everyday vehicles. But it also doesn’t impose mileage restrictions on how much policyholders can drive them. This makes Grundy a great choice for those who want to take their collector vehicles out often.
Comprehensive coverage
In addition to coverage mandated by state law, Grundy offers a variety of endorsements to help drivers customize their policies. Some of these options, like OEM parts and emergency living expenses, are pretty uncommon.
No deductible in most states
Drivers who insure their vehicles through Grundy typically don’t pay a deductible when they have to file a claim. However, this varies by state.
Areas of improvement
Can’t just insure an everyday vehicle
Grundy specializes in classic vehicles. While it does insure regular cars through its Motor Vehicle Program, these policies require a minimum of three vehicles, and one of them has to be a collector car. Those who are just looking to insure the everyday vehicle that they use to run errands and commute to and from work will have to look at other car insurance companies.
Collector vehicles must be kept in a garage
In order to insure a collector vehicle through Grundy, the driver must agree to store it in a garage while at home. However, the car is covered if parked outside while away from home.
Customer service and ratings
Since Grundy Insurance isn’t a traditional auto insurer, it hasn’t featured in any large-scale auto insurance surveys, like those conducted by J.D. Power.
The company currently has a B- rating with the Better Business Bureau (BBB) and a 3.9 out of 5 from Trustpilot. These ratings aren’t quite as high as what we’ve seen with some other companies, but they’re also not low enough to cause concern for most drivers.
Who is Grundy best for?
Grundy auto insurance could be a good fit for drivers who:
- Are looking to insure a classic vehicle, either on its own or alongside everyday vehicles
- Don’t want to limit themselves to a certain number of miles driven each year
- Have a garage where they can keep their classic car when not in use
Collector Car Insurance
Classic car insurance isn’t the same as standard car insurance. Collector cars differ in value and use from daily drivers, so it makes sense that insurance is set up a bit differently. Let’s take a look at what it is and how it works.
How much is insurance on a classic car?
The cost of classic car insurance is typically cheaper than a regular car insurance policy because a classic car spends less time on the road than a daily driver, so has less chance of being in an accident. American Collectors and Heacock say their classic car rates are up to 40% less than standard auto insurance rates, while Hagerty says they are 34% less on average.
The best way to find out how much classic car insurance will cost for your vehicle is to compare car insurance quotes from multiple companies. Prices can vary significantly because insurers weigh risk factors differently.
Common factors that impact the cost of classic car insurance
Key factors that affect classic car insurance rates usually include:
- Annual mileage. The more you drive, the more you’ll pay due to a higher chance of being in an accident.
- Classic car insurance coverage choices. If you add on motorsports coverage or other extras, your cost will increase.
- Deductible amount. Many classic car insurers offer a zero deductible option, but if you choose a higher value one, such as $500 or $1,000, you’ll save.
- Your age and years of driving experience. Some classic car companies have eligibility limitations based on age (drivers must be at least 25) and driving experience (wanting at least five years).
- Your credit score. A higher credit-based insurance score will result in cheaper rates (in most states).
- Your driving record. A clean driving record (one without traffic violations or accidents) will get you cheaper classic car insurance costs.
- Vehicle model and value. The more valuable your car is, the more expensive your policy will be because classic car insurance is typically based on an agreed value. That means you and the insurer agree on the value of the vehicle to be paid out if there is a total loss.
- Where the vehicle is garaged. Most classic car insurers require keeping your car in an enclosed locked garage or storage location.
- Where you live. Location-based factors like the cost of car repairs, medical care costs, and frequency of thefts, claims, and auto accident lawsuits in your area will impact your rates.
How do I find the best classic car insurance?
To find the best classic car insurance evaluate your needs and determine which coverage features you require and which you can skip. For instance, if you drive a 1972 Porsche 911 to a lot of car shows, then mileage limits will be important to you. On the other hand, restoration coverage may be your top priority if you’re restoring a 1964 MGB.
Once you know what you want in a classic car insurance policy, shop around to find the insurer that best suits your situation. Our analysis of the best classic car insurance companies is a good jumping-off point.
Items and features to consider when looking for the best classic car insurance may include the following.
Mileage limits
If you’re active in classic car hobby activities—such as car shows and parades—and put a lot of miles on your car each year in this capacity, mileage limit options will be important. Look for a classic car insurance policy with a flexible or unlimited mileage limit.
If you look at your classic car much more than you drive it, choosing a lower fixed limit can be a better option as you’ll usually see a discount. Leland-West allows you to roll over unused miles to your next policy year if you choose a fixed limit and drive less than your limit.
Classic car insurance policies typically state your car is only for occasional pleasure and hobby use and require you to have a separate daily driver vehicle. If you plan to use your car regularly or as a commuter car, you’ll likely need to add an endorsement for that or buy a standard car insurance policy.
Flexible deductibles
Flexible car insurance deductibles allow you to choose from a range of options. For instance, you can go up to $10,000 with American Modern or 20% of your car’s value with American Collectors. Higher deductibles may be right for you if you have a high-value vehicle or want to take on more of the cost and save on your classic car insurance rates.
All of our best classic car insurance companies have a zero-deductible option. While zero dollars may sound good, you’ll pay more for the policy. That’s because the lower your deductible, the more your auto insurance company will have to pay out when you make a claim. The most common deductible choices are typically $250 or $500.
Inflation guard
An inflation guard is a coverage feature that automatically increases your agreed value limit to keep up with inflation so you won’t become significantly underinsured. The increase may only last until the end of your policy term unless you update your limits to the higher amount at your renewal.
Typically, an inflation increase is around 2% every three months, with some insurers having a maximum annual increase limit. For example, American Collectors inflation guard adjusts the agreed value limit of your classic car for up to a maximum of 6% per year.
Spare parts
Spare parts coverage pays for theft or damage to spare replacement parts and automotive tools that you own and intend to use to restore or maintain your classic car.
Many car insurers offer $500 of spare parts coverage, but some of the best classic car insurance companies include higher amounts. Hagerty pays up to $750 in spare parts coverage, Chubb up to $1,500, while American Modern, Heacock and Leland-West provide $2,000 in coverage.
Discounts
See what car insurance discounts companies offer to make your classic auto insurance more affordable. If you’re getting your classic car policy with the company you already have a home or life insurance with, look for a bundling discount.
Some classic car companies partner with standard companies—such as Hagerty with Progressive—so you may also get a bundling discount. And if you’re insuring multiple cars or an entire car collection, there are discounts available with some classic car insurance companies.
Condon Skelly and Erie have lay-up discounts for storing your car away and not driving it for months at a time. Other discounts offered by some insurers are for being part of a car club, insuring a high-value vehicle, having anti-theft or security devices for your car and having an automatic fire suppression system for your garage area.
Shop around
You’ll want to shop around with multiple companies to get the best price for your classic car insurance. Look at the companies that provide the coverage features and mileage requirements that fit your classic car’s situation and then compare car insurance quotes.
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