Various businesses focus on insuring antique and classic cars if you own one. Grundy and Hagerty are two reputable providers of historic car insurance. We have researched which is better if you need help choosing between the two.
Two of the top companies for vintage automobile insurance are Grundy and Hagerty, and each has benefits and drawbacks. Grundy offers excellent coverage for a more affordable price, and the reduced premiums make this business the most alluring to many drivers. However, Hagerty is a better choice if you are under 25 or do not have a secure garage since you will not be eligible for Grundy vintage vehicle insurance.
Grundy
James A. Grundy founded Grundy Insurance, opening its doors in 1947. The business was founded to provide insurance to owners of antique and vintage cars. In the beginning, James Grundy started Grundy Insurance to insure his father-in-law’s collection of vintage cars.
Grundy Insurance has expanded throughout the years, doing more than simply insuring vintage cars. Grundy insurance may be obtained for collectibles, regular cars, yachts, and house belongings.
Although Grundy has changed throughout the years, it still offers insurance for antique and historic cars. Since any vehicle over 25 years old qualifies as a classic car in the US, vehicles produced in the 1990s are now regarded as classics.
Hagerty
Although Hagerty is a much more recent insurance provider, they also focus on historic cars. In 1984, Frank and Louise Hagerty established Hagerty Insurance. The two founders of the business decided to take things into their own hands when they couldn’t find a firm to insure their wooden boats, so they started by offering coverage for vintage boats.
Hagerty began offering insurance for vintage cars and boats in the early 1990s. As a result of its growth throughout time, the company is today regarded as one of the leading international suppliers of insurance for old cars.
Today, Hagerty offers insurance for classic cars, trucks, and SUVs. Additionally, Hagerty offers insurance for motorcycles, scooters, antique tractors, military vehicles, and many other types of vehicles. The Hagerty firm has yet to lose sight of its beginnings; boat insurance is still available today.
Grundy vs. Hagerty: Coverage
Many ordinary auto insurance providers will insure classic cars. However, a specialized provider will often provide a better deal and coverage. According to Grundy, normal auto insurance is 50% more expensive and offers less protection for your prized classic car.
When you initially get in touch with Grundy, they will assess the worth of your historic car with the help of their knowledgeable staff. The value will only change if you wish it to once it has been agreed upon.
Additionally attractive is Grundy coverage, which offers a liability limit of up to $1,000,000. If a collision involves an underinsured or uninsured motorist, your coverage will be maintained by a Grundy policy. If your vintage car requires bodywork, your coverage will continue unabated.
Drivers of historic cars covered by Grundy insurance can earn up to $250 for towing and labor fees and $500 for replacement components.
Additionally, Hagerty provides a predetermined agreed-upon vehicle value and will pay you completely if your historic car is written off. Although Hagerty promises to be 34% less expensive than regular auto insurance, Grundy has claimed to be 50% less expensive.
A Hagerty coverage includes 24/7 roadside support if your historic car breaks down. Additionally, your insurance provider will assist in finding new components for your historic car and pay up to $750 for spare parts. Car insurance is another option available to drivers.
Policies from Grundy Insurance are often less expensive than comparable ones from Hagerty. You must go to the business website and get a quotation if you want current and correct costs. It is well known, nevertheless, that Grundy offers historic car insurance at a lower cost than Hagerty.
Grundy vs. Hagerty: Restrictions
Both antique car insurance and standard auto insurance will have limitations on how you may use your vehicle. In reality, historic car insurance often has additional regulations, and if you disobey the guidelines, you risk breaching your contract and operating a vehicle without insurance.
Grundy insurance contracts carry the following important limitations:
- Utilizing something other than your historic car as your everyday driver would be best.
- You must park your car in a locked garage at home.
- When you leave home, only on-street parking of your car is covered.
I’m done now! Grundy wants owners of historic cars to enjoy and utilize their cars without placing restrictions on the number of kilometers they may travel annually. For antique cars, many ordinary insurance providers will have a mileage limit; however, when you insure with Grundy, you won’t have to worry about this.
With Grundy, you may acquire vintage car coverage if your vehicle is older than 25. Additionally, this organization will provide insurance for more recent autos, exotic cars, SUVs, and many other cars.
When it comes to constraints and restrictions, Hagerty is comparable to Grundy. Hagerty won’t, however, cover drivers who have already had a DUI or a speeding ticket.
For historic cars, Hagerty also offers unlimited miles, so owners may take as many pleasure drives as they want. However, like Grundy, Hagerty does not let owners use their historic cars for daily transportation.
Your historic car must be kept safe at home if you want to get insurance through Hagerty, but it doesn’t have to be in a secured garage. You can still qualify if your car is parked in a driveway, carport, or towing trailer. You won’t follow your insurance requirements; payment will only be feasible if your car is kept correctly.
Racing cars and significantly customized motorbikes are unlikely to be insured by Hagerty. If you’ve been found guilty of reckless driving in the past, you could have trouble meeting the qualifying requirements for coverage.
Every home driver who uses a car for everyday transportation must be insured. In other words, you need to have as many daily-use vehicles as there are drivers in your family if you want to insure your vintage vehicle with Hagerty. This regulation ensured the historic car wasn’t used for everyday driving, like going to work or dropping the kids off at school.
Pros and Cons of Grundy
Given that Grundy and Hagerty are so comparable, it is understandable that drivers cannot choose which insurer to use for their classic car.
Let’s examine Grundy in more detail and weigh the benefits and drawbacks of selecting them as your vintage car insurance provider.
Pros
- Insurance may provide a $600 travel interruption benefit.
- Unlimited miles of pleasure driving.
- For vehicles 25 years of age and older.
- Can sometimes drive to work.
- $500 was paid for replacement components.
- $250 was spent on labor and towing.
- Fixed agreed value.
- 50% less expensive than standard auto insurance.
Cons
- Drivers who have insurance must be older than 25.
- To qualify, classic cars must be kept secured in a safe garage.
- No additional coverage for roadside assistance.
- All licensed drivers in the family must drive a vintage car in a contemporary vehicle to qualify for insurance.
Hagerty Pros and Cons
Hagerty is a more recent insurer than Grundy, but they are specialists in covering historic cars and provide several advantages with their policy.
Pros
- Unlimited mileage while driving for fun.
- No upper age limit for drivers.
- Spare components are covered up to $750.
- There is a $250 allowance for personal stuff.
- Assurance of value protection.
- In a garage, vehicles don’t need to be locked.
- 34% less expensive than standard auto insurance.
- There are many possibilities for supplemental protection and insurance add-ons.
Cons
- A classic car is not suitable for daily driving.
- Not a member of BBB.
- Insurance coverage is not available for all makes and models.
- Heavy modifications will disqualify a vehicle.
- More premiums than competing companies.
Which Is Better Between, Grundy vs. Hagerty Classic Car Insurance?
Hagerty or Grundy insurance can provide the finest protection if you have an antique car. Both organizations deserve to hold the renowned title of best vintage vehicle insurance. Thus, it is hard to choose just one.
The insurance provider that best meets your requirements will be the finest option. For example, a Grundy policy can be the perfect choice if you want to avoid paying more for roadside insurance since it is already included in your premium at no additional cost. Hagerty is the business for you if you don’t have a garage, but as long as your historic car is parked on your driveway or is kept in a safe caravan, you may still be eligible for insurance.
Additionally, Grundy will not provide insurance if you are under 25. Hagerty, however, provides comparable coverage without a minimum age requirement. Both firms provide limitless pleasure driving, but considering any limitations before committing to a policy is always a good idea.
In general, Grundy offers the finest vintage car insurance due to their longevity in the company and more affordable rates. With Grundy, you won’t have to spend a hefty yearly premium and will still receive all the protection your historic car needs.
Conclusion
Even if you only drive a classic car sometimes a year, insurance is still necessary since they are the pride and pleasure of collectors. There are several insurance providers for classic cars, but Grundy and Hagerty represent two of the best.
Grundy and Hagerty’s historic vehicle insurance firms provide outstanding coverage, so there is no need to choose between them. However, Grundy wins out since their costs are 50% less than traditional auto insurance while offering top-notch safety and coverage.
