Grundy Worldwide Collector Vehicle Insurance Review
Grundy Worldwide Collector Vehicle Insurance is a division of Philadelphia Insurance Companies. Philadelphia Insurance was founded in 1962. The company markets and underwrites commercial property & casualty, personal lines and professional liability insurance products specializing in niche services and markets such as classic car insurance.
Financial Strength, Customer Service, Recognitions and Awards
Philadelphia Insurance Companies have an “A++” Superior rating through A.M. Best insurance rating organization. Standard & Poor’s gives Philadelphia Insurance its “A+” rating. It has also been recognized by Forbes Magazine as one of the 400 Best Big Companies in America. Ward’s Top 50 has recognized the company for its outstanding achievement in the areas of financial strength, claims and consistently favorable underwriting results.
Better Business Bureau Rating
There is not an individual BBB file for Grundy Insurance. However, its parent company, Philadelphia Insurance Companies, has a file with the BBB opened in 1996. It has been accredited since 2014 and has an “A+” rating. The company’s composite score is 3.68 out of 5 stars. There are 12 total customer complaints: problems with product/service (10) and billing and collection issues (2). Three of the 12 complaints were resolved to the customer’s satisfaction.
This is a very low number of filed complaints for a large company to have.
To buy a classic auto insurance policy through Grundy worldwide, applicants can have no more than two moving violations, no DUI in the past three years and no more than one at-fault accident. Grundy Worldwide insures these types of classic vehicles:
- Muscle Cars
- Sports Cars
- Station Wagons/Woodies
- Street Rods
- Custom Cars
- Kit Cars
- Vintage Motorcycles
- Horseless Carriages
- Light Trucks
- Fire Engines
- Steam Automobiles
Key Benefits and Service Features
Grundy Worldwide offers a good variety of policy plans for the unique way you use or drive your classic vehicle with these key benefits and service features:
- Agreed Value Coverage: This option allows you to predetermine the value of your vehicle and the company will pay you this amount in the event of a total loss with a zero deductible in most states.
- High Liability Limits Available: You can insure your collector’s automobile for up to $1,000,000.
- No Mileage Limitations: You can use your vehicle in collector activities, exhibits and parades without any mileage restrictions.
- Automatic Coverage: Automatic Coverage for newly acquired vehicles.
- Towing and Labor Costs: Towing and labor costs are paid up to $250 per occurrence.
- Spare Parts Coverage: Your policy pays up to $500 for direct or accidental loss to spare parts for a covered auto.
- Trip Interruption Coverage: Pays up to $600 for travel expenses because of an accident or a mechanical breakdown for a covered vehicle.
- Auto Show Medical Reimbursement: The auto show medical reimbursement is available at $500 per person up to $5,000.
- In-house Claims Handling: A staff of in-house expert claims representatives handle each claim.
- Repair Shop of Your Choice: You are not restricted in your choice of repair shops and may chose a mechanic of your own choice.
Pros & Cons
Grundy Worldwide is a well-known name in classic car insurance and has more than 60 years in the business. The company has superior financial strength and several different policy options for the unique usage requirements of classic and antique vehicles.
This company has made a name for itself in classic car insurance and is a good option to consider when shopping for the best value on an insurance policy for classic auto insurance. Most plans are available with a zero deductible option.
If you are looking for other types of insurance rather than just the standard collector vehicle insurance policy, Grundy also offers insurance for yachts, homeowners insurance and personal excess liability insurance.
It also has commercial policies available for classic car restorers, dealers and museums that house collector cars.
A classic car insurance policy can only be purchased with a payment of the full annual premium. In other words, no installment plan or partial payments options are available. If you have more than two moving violations, a DUI or have multiple accidents, you may not qualify for coverage through Grundy Worldwide.
To find out more information about Grundy Classic Car Insurance, You can visit the Grundy Worldwide Website or call 888.6GRUNDY (888.647.8639).