Insurance Premium Mystery?

[Tom Wesenberg]

I've had my 1928 Model A insured with Grundy for many years and never had a claim or problem. I do have it under-insured at $7500 and the cost is $72 a year. Now, if I add a second car I wouldn't think the added cost would be much because I can only drive one car at a time. Last week I added my 1950 Studebaker Champion to my policy and was surprised to get the bill for $84 additional, and it's only insured for $6,000.

I called Grundy today to question the added cost and was told they group the cars in 3 catagories, 1945 and older, 1945 to 1989, and 1990 and newer. I didn't even know Grundy insured newer cars, but to put my 1950 Champion in the same group with 60's and 70's muscle cars sure isn't right.

All the other companies only add a small extra cost for adding another car, unless it's something exotic or high powered. I will have to check with some other companies.

[Pinstripe]

Check out Hagerty You will not be disappointed

[29 Tudor]

Funny story.... I had my '67 Corvette insured with Hagerty. I bought a '39 John Deere B and called my regular car agent to make sure I had coverage. He said he couldn't write it because the tractor was in a different state and they didn't write in that state so he referred me to another company. I called them and they quoted $500 a year! Nope, I don't think so.

I called Hagerty and they said they would be happy to add my tractor for $26.00 a year. Here's the good part ... since I had already paid the insurance for a year for the Vette, and since adding the tractor would get me a multi-car discount, they would OWE ME MONEY!! I added the tractor and they sent me a check for $18.00!

Is this a great country or what!!!

sd

[Jeff/Illinois]

That's good information. Always pays to ask and keep up with things

[mshmodela]

I'm not surprised, auto insurance tends to be based in part by the costs of replacement parts... My 2014 Liberty (brand new when I got it) is more costly to insure than my KIA soul which is less than half the value . Why? foreign cars are more expensive so say the insurance companies...

[Elcastor]

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Just don't try to insure a Model A that is kept in Mexico most of the year, and try to get insurance on that vehicle while it is in the USA!!! All the insurance companies I contacted said that they would not insure the Model A, even though I did not want insurance coverage while the vehicle was in Mexico (as I have Mexico insurance)!!! Grrrrrrrr!

[Ten1nis]

Rates are based on many factors. Honda rates have gone up recently because, on a nation-wide basis, they are the #1 stolen vehicle. Also a person can kill or injure anther person or damage property in a Kia just as easily as in a Vette, so insurance premiums are not proportional to the cost of the vehicle.
















V

[Lona]

We replaced my wife's 2002 Lexus with a 2009 Avalon several yrs ago and the insurance with State Farm was reduced almost 50 percent. Their explanation was that the Avalon is equipped with several more air bags and other safety features than the Lexus.
Am paying $84 per yr for our '31 Chrysler but they charged us $246 for our '31 A roadster. They rated the A as a personal use car and not as an antique even though they know it is a '31 model with antique plates and were told it is located in rural Virginia and would be driven less than 500 mi per yr. Am now waiting for their re- evaluation before paying.
Moral of the story..... Check everything and don't trust your insurance company is always going to be right..........Glen

[P.S.]

Originally Posted by Lona

... they charged us $246 for our '31 A roadster. They rated the A as a personal use car and not as an antique even though they know it is a '31 model with antique plates and were told it is located in rural Virginia and would be driven less than 500 mi ...

My 1931 Model A is insured through Hagerty for $200 per year with agreed value full coverage of $30K and $1M in liability. That also includes the 50 mile flatbed towing roadside package and 2500 miles per year of driving.

Might be time to reevaluate your insurance carrier.