A word to the wise about Grundy.

[Z51JEFF]

I've got a Grundy policy on my 2 Corvettes,a1975 convertible and a 1991 ZR-1. A few weeks ago I had a little mishap with the 75,ran into a car,destroyed the headlight and no major damage elsewhere. The cars got agreed value @$25,000, the estimate comes in right around $15,000 at a reputable Corvette shop. Grundy sends out their claims adjuster,their estimate,$5900,if Barney Fife had a cousin,this guy would be the one. Grundy wants to total the car with a buyback of $10,000 with the Grundy claims adjuster telling me the car won't have a salvage title. I'm not in the insurance industry,I don't know the policys or stipulations for a branded title but do know once a car is totaled,it's a salvage vehicle. So I tell the claims adjuster I'll get another estimate at a lower repair cost,he tells me basically I'm locked into the estimate givin by the Corvette repair shop so basically I'm being forced by Grundy to take what they are offering or walk away and pay out of pocket. This cars got 13,000 original miles,both tops 2 owners,I would never consider totaling this car. So not I have to bend over backwards to get Grundy to do what I've been paying them to do. And that agreed value,anybody reading this might want to check out your policy and see exactly what your insurance carrier's definition of agreed value is. I'm certainly not a push over and do like a good fight,I just didn't expect this from Grundy. I'm very disappointed that Grundy is pulling the typical insurance BS,I would like to think they are above this. So instead of getting the car repaired it's going to be in insurance limbo until Grundy figures out I'm not going away that easy. As soo. As this mess is finalized I'll be shopping for a new insurance carrier,NCM is one I'll be looking into.

[Dynomite]

Your experience with auto insurance does not surprise me.....

If you are a resident of CA.......
****Effective January 1, 2025, California Senate Bill 1107 increases the minimum
financial responsibility requirement for private CA passenger vehicles to:
$30,000 for injury/death to one person.
$60,000 for injury/death to more than one person.
$15,000 for damage to property.......

Neither Politicians nor Insurance companies surprise me......

Maybe AI (Artificial Intelligence) will eventually put auto insurance companies out of business

But......then....what fun would having AI drive my ZR1 be.........

[DRM500RUBYZR-1]

Jeff,
If it were a new or newer car, then yes, avoid salvage title without a doubt IF you can at all costs.

On a 1975 Corvette, even IF the title became branded as salvage, here is how to lessen or eliminate the potential financial impact of it. ( although I suspect that it will not be branded as such, as it is common for collector insurers not to brand titles of cars that old. Have seen that a number of times, but no matter)

1- take complete pictures of the car, both before and after the damage. We all have before pictures.
2- save both estimates, the shop and the insurance company.
3- save the documents explaining what the insurer proposes.
4- photocopy all, scan all so that you have it everywhere.
5 agree to the offer. I interpret that they are paying the agreed value of $25,000 less the salvage of $10,000, resulting in $15,000.00 to you and the title
6- repair the car at your chosen shop.
7- enjoy the car.

Almost every old Corvette has had damage, some extreme or significant restoration work performed on it. Said work enhances the value. Your documents and pictures confirm a minor mishap, now corrected.
A mostly original low mile 75 like yours will not be affected much or at all by going that route.
I recall you have a documented low mile car, that added new bumpers, which is very common. The small damage even if with branded title, would only be an issue with a near moron on a car of that vintage.
I am guessing the damage involves the headlight surround and or the fender, again almost always found on an old car.
Relax, and yes WITHOUT A DOUBT, SWITCH TO NCM once all is completed, saving your file in case you need it to value the car at 25-35.
Good luck and keep us posted.

Marty

[ZBrink]

I was actually getting quotes from all the collector car insurance companies just this week for my ZR-1. Grundy was the lowest price by far but it just seemed to good to be true and the policy restrictions seemed to be the most stringent.

I ended up signing on with NCM (underwritten by Modern American). The policy was low-to-mid priced but the service and policy lined more up with mid-to-high. https://ncminsurance.com/

[XfireZ51]

Good info. I have been looking to switch my 92 Z policy from American Family.

[ZBrink]

Originally Posted by XfireZ51

Good info. I have been looking to switch my 92 Z policy from American Family.

I spoke with allllll of the collector insurance companies within the last 10 days and would be happy to talk with you on the phone about what I learned. I would definitely recommend talking with each company on the phone after you fill out the online application as they can often make significant tweaks for discounts. Example, the ZR-1 registry is considered a national club which most companies give a discount for.

[DRM500RUBYZR-1]

National Corvette Museum Insurance has been and still is my choice and have referred many dozens of folks to them over the years and have only heard positive, some VERY positive feedback from them.

The BIG Plus are the people that you deal with. They KNOW cars and are efficient, competent and downright NICE! Every one of them!!!

American Modern as others have said offers great product at a very competitive price.

However should the SH** hit the fan the agent is as important as the insurer, and that is where NCM is exemplary.

I have used most all of them over the last 35 years, but NCM is it for me!

While your mileage may vary, those are my experiences.


Marty

[dredgeguy]

Like Marty said, having an agent who you can trust and looks after you is very important. I have been with State Farm for over 40 years, home, all cars and umbrella policy. I was always concerned that they would not tell me what the payout would be if something happened to my Z, just trust us, we will take care of you. Another in Wazoo had State Farm and he suffered a complete loss and to my surprise, they gave him a very generous settlement. I started looking at one of the collector companies as I wanted an agreed upon value. My State Farm agent said if I pulled my Z out of their coverage, they would drop my umbrella policy as they have to have all assets covered. Then he said, "your car is 25 years old......I can now offer an agreed upon value policy". It was priced lower than the other collector car policies and only restriction is less than 6000 miles per year and they prefer you not to park at the mall but that is only a suggestion (I don't take the Z to the mall). If the agreed upon value is less than $40,000 the agent just takes a few pictures and sends it in. No issues. If $40,000 or greater, they need a third party appraisal. Others within Wazoo have State Farm and their agent was not aware that they can now offer replacement value policies for collector cars. Yes, the agent is very important.

It sounds incredibly frustrating to be caught in a situation where you're paying for a service but not getting the support you expected, especially when it comes to a car with such low mileage and sentimental value. The discrepancy between the repair estimate, the insurance adjuster's low payout, and the potential for a salvage title creates a real headache. It's also frustrating when the "agreed value" doesn't seem to reflect the true condition and worth of the car. You?re right to be pushing back, and I hope Grundy will take your concerns seriously and come to a fair resolution. If they don't, it might be time to explore options that value your vehicles as much as you do. Keep standing your ground!