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Shady business practices by Grundy Insurance? You be the judge.

Discussion in 'The Hokey Ass Message Board' started by Mr. Sinister, May 16, 2012.

  1. Fenders
    Joined: Sep 8, 2007
    Posts: 3,922

    Fenders
    Member

    Geez Swifter, what is it about the word AGREED that you don't understand?
     
  2. Swifster
    Joined: Dec 16, 2006
    Posts: 1,449

    Swifster
    Member

    Yep, like the guy with the '32 Ford I totaled and the guy was saying that he meant to change the value 5 years ago. Again, if you don't like it, call them and lower the value of your car (because we all know that the costs to build a car are decreasing...).
     
  3. Swifster
    Joined: Dec 16, 2006
    Posts: 1,449

    Swifster
    Member

    I run into this far more at the store...
     
  4. Swifster
    Joined: Dec 16, 2006
    Posts: 1,449

    Swifster
    Member

    So go spend more someplace else for less coverage. I mean seriously...Make a call and decrease your coverage.

    Somebody please tell me it's cheaper to build a car now than it was five years ago. They adjusted the values so your car would not be a total loss because the costs everywhere else has gone up. I give up.
     
  5. XXL__
    Joined: Dec 28, 2009
    Posts: 1,924

    XXL__
    Member

    Yay.
     
  6. Swifster
    Joined: Dec 16, 2006
    Posts: 1,449

    Swifster
    Member


    Great. As opposed to trying to explain in an honest fashion how insurance companies work in a straight and honest fashion, I'll go with the idea that the people here would rather remain ignorant. So I won't bother anymore.
     
  7. XXL__
    Joined: Dec 28, 2009
    Posts: 1,924

    XXL__
    Member

    If you want to take your ball and go home, that's your prerogative. Just keep in mind that NOBODY was bothered by your "explain in an honest fashion how insurance companies work in a straight and honest fashion." It's that you have systematically IGNORED the crux of the PROBLEM... that "agreed" value should be AGREED upon by both parties.

    Now, I'm off to find another ball.
     
  8. PinHead
    Joined: Jun 3, 2005
    Posts: 243

    PinHead
    Member

    Forgive me if I'm wrong, but aren't these policies paid up front beforehand, so the renewal notice you get is for the following year? If it's just a renewal notice, then it's simply a policy you haven't bought yet, and you're not on the hook to pay for it if you don't want. They're not sending a bill for something you already have and therefore owe, you have every right to just throw It in the trash and go elsewhere, or else call and discuss with them what you want for coverage and go from there.

    You can call it sneaky if you want, but I think they're just trying to keep people from getting caught with their pants down if they haven't upped their coverage for several years.
     
  9. Swifster
    Joined: Dec 16, 2006
    Posts: 1,449

    Swifster
    Member

    I'm glad SOMEONE gets it...
     
  10. Don's Hot Rods
    Joined: Oct 7, 2005
    Posts: 8,319

    Don's Hot Rods
    Member
    from florida

    You guys posting that had me rereading my renewal notice I just got from them. Yes, they did increase my agreed value by $ 1000 but my rate only went up $ 6.00 from last year. I think that is a no brainer, I am happy to pay that difference for a little more coverage.

    Anyone who has had homeowners insurance can attest that the bill we got this year was rarely what we were paying last year, it is always more every year. I really don't get anyone bitching about this.......if you don't want it just don't renew with them and go somewhere else. :confused:

    Don
     
  11. Can't we just all get along? Actually Swifster has gone to great lengths to try and explain to us laymen (well, most of us) how the insurance game works. On another note, wouldn't it be nice if Jim Grundy (or someone else in the company ) would get on here and explain some things. Becky used to chime in occasionally with some explanations, but I'm not even sure she survived the recent "turmoil" at Grundy. I mean when you have an audience of 176,000 potential customers, seems like it would just make good business sense to interact with them.
     
  12. white64
    Joined: Sep 15, 2008
    Posts: 679

    white64
    Member
    from Maine



    So State Farm got to walk away with 12 years of this guy's money for them doing absolutely nothing...
     
  13. Steves32
    Joined: Aug 28, 2007
    Posts: 1,280

    Steves32
    Member
    from So Cal

    Do any of you actually read your policy before you renew?

    P1-CV-03 08 05
    Inflation Guard Coverage
    The limit of liability shown in the declarations for coverage provided under Part D will be increased annually by 4%...................................

    Don't like it? Don't renew.
     
  14. wingedexpress
    Joined: Dec 24, 2006
    Posts: 894

    wingedexpress

    Thanks for pointing that out steves32.They don't even know they did agree in advance.
     
  15. Don's Hot Rods
    Joined: Oct 7, 2005
    Posts: 8,319

    Don's Hot Rods
    Member
    from florida

    Yeah, bascially. It seems the insurance companies are in the statistics game and they are gambling and playing the odds. They know to make money they have to take in more than they pay out, so in the case of my neighbor, the odds of him finally having a claim were getting better, so it was time for them to bail out...............cash in their chips so to speak. It doesn't seem right, but that is how they keep our rates down too, I guess.

    Don
     
  16. Stu D Baker
    Joined: Mar 4, 2005
    Posts: 2,634

    Stu D Baker
    Member
    from Illinois

    I have no love affair with insurance companies, however, in all fairness, the insurance companies assume RISK. That's how they earn a good portion of their income. So don't say they didn't do anything.

    The guy paid a premium,.....and they covered him for liability and/or property loss. The car owner bought the policy, but did not use it. If you buy a basket of groceries, pay for it, and leave at the store, did the grocer do you wrong? Stu
     
  17. dayna.rankin@yahoo.com
    Joined: Mar 13, 2012
    Posts: 6

    dayna.rankin@yahoo.com
    Member

    No experience with Hagerty or Grundy or anything like this for that matter. The AARP classic auto insurance is a safe insurance option. I figure if so many seniors trust them, they must be worth that trust. Plus, their insurance is supplied by a well-reputed insurance company—The Hartford.
     
  18. Don's Hot Rods
    Joined: Oct 7, 2005
    Posts: 8,319

    Don's Hot Rods
    Member
    from florida

    The only question I have is, do they only insure classic cars as in bone stock antiques, or do they do modified hot rods, like most of us on here have ? When I think of AARP fenderless hot rods with bunches of hp do not come to mind, but I could be wrong.

    Don
     
  19. 48FordFanatic
    Joined: Feb 26, 2011
    Posts: 1,335

    48FordFanatic
    Member
    from Maine

    I would sooner think that the increases are , and will continue to be , as a result of the fact that you are a consistent 2 pointer. They are probably of the mind that you are eventually going to have a claim because of this. Is somebody twisting your arm to stay with Grundy? Try Condon & Skelly. They are down your way . I've been with them for a few years and the rate has not changed except for this year when it went down . Of course I don't have any violations.
     
  20. yblock292
    Joined: Oct 10, 2006
    Posts: 2,937

    yblock292
    Member

    My hagerty policy dropped 65 bucks this year, i even called them to be sure they didn't make a mistake. Nope so i added 65 bucks worth of insurance.
     
  21. davidbistolas
    Joined: May 21, 2010
    Posts: 962

    davidbistolas
    Member

    Or... perhaps the neighbour spun you a tall tale? Think State Farm can predict the future?

    I've had my share of 'run ins' with Insurance companies (never a claim though) and - through it all - they're quite logical- there's no hocus-pocus here.

    Moral of this thread: Read your policy, and if you don't understand it, have someone explain it to you - each section, each clause.
     
  22. ArtofHotRod
    Joined: Feb 26, 2008
    Posts: 467

    ArtofHotRod
    Member

    Spoke with CLASSIC UNDERWRITERS TODAY www.classicunderwriters.com
    ( ex: Grundy staff)

    It's called inflation guard. Every year the value of the vehicles go up 4%. The insured has the option to remove the inflation guard.

    Thanks also to Steve32 for the clarification
     
  23. hotrodladycrusr
    Joined: Sep 20, 2002
    Posts: 20,762

    hotrodladycrusr
    Member

    Or you can call and ask them to renew at the original agreed value amount which they will do. The reason they do this is because so many people don't keep up with the vaule of their cars on their own and might have a policy for many years and never increase the agreed vaule on their own even though their cars value has increased.
     
  24. Deuce Roadster
    Joined: Sep 8, 2002
    Posts: 9,519

    Deuce Roadster
    Member Emeritus

    I like Grundy ... :D :D

    I was with them for less than 1 year and had a 25 thousand plus dollars claim. They paid without any bitchin ... and told me if the adjuster missed anything ... they would cover that. At 64 years of age, the fire on my 32 roadster was the first vehicle I ever had a fire on.

    GOOD Folks IMHO
     
  25. models916
    Joined: Apr 19, 2012
    Posts: 380

    models916
    Member

    Here's another thought about under insuring. My buddy's dad insured his old Packard for $20,000 agreed with one of the big antique companies. He didn't think to have it appraised after comming out of the garage after 15 years. The car was damaged and the insurance company would pay him $20,000 for his $100,000 Packard and take it away or he would get nothing. He took nothing and had it repaired at his cost. If you have agreed value and they total it, they take it.
     
  26. robyyo
    Joined: Sep 8, 2005
    Posts: 235

    robyyo
    Member
    from Orange CA

    115 post about a guys insurance bill going up. NOW THAT'S TRADITIONAL RODDING! GIVE ME A BREAK!
     

  27. Then don't fuckin' read it. Apparently several people are concerned enough about their insurance to provide a comment of value.
     
  28. Jagman
    Joined: Mar 25, 2010
    Posts: 345

    Jagman
    Member

    I guess traditional rods don't have insurance, cause they're not worth anything, or they're made out of junk yard and throw away stuff, if you want to get real traditional....

    My bill just came on my old Jag, it went up $7 for the year, and when I called it turns out they increased the agreed valuation $1,000 without discussing it with me.....

    When I called (I thought the agreed value was higher to begin with, but we looked it up and it was in fact lower than I remembered - it's hell getting old!) they checked my records and in the end I agreed to the terms, as I feel the cost/coverage is acceptable.

    However, a $150 yearly increase would need some explanation, and I would probably seek other coverage.
     
  29. It's gone up somewhere between $100 and $150 over the life of the policy, but the jump last year seemed to be larger than in previous years. As I said before, I'm ok with the increase due to my car being covered for more. I apparently didn't read all the fine print in the policy that talks about the inflation rate, but I still feel it's something you should opt into, not have to opt out of.
     
  30. robyyo
    Joined: Sep 8, 2005
    Posts: 235

    robyyo
    Member
    from Orange CA

    I wouldn't have read it, except the title was too intriguing "Shady business practices by Grundy insurance? You be the judge". Well I'm being the judge, it's inflation. That's it, nothing shady, no scandal, just inflation. Everyone here's quick to bash and bitch.
     

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