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Grundy Motorcycle Insurance Review

Grundy Motorcycle Insurance Review

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Grundy Insurance Company a.k.a. Grundy Worldwide has been around since 1947 and offers policies for collector and classic vehicles. They do not typically provide motorcycle insurance policies unless you are already insuring a classic or collector vehicle. In order to get insurance through Grundy, you must apply, meet the necessary requirements, and qualify. They have specific rules that must be followed in order to qualify for a policy with your classic vehicle. This is a niche insurance company that isn’t really talked about much other than by individuals with classic cars.

If you are a serious collector and also have a collector motorcycle that you’d like to insure, you may want to consider Grundy for coverage. This company has insured over 1,500,000 vehicles to date and also provides policies for antiques, ATV’s, exotics, boats, carts, homes, special collections, trailers, and more. Before you consider this company for your motorcycle, you must own a classic vehicle that needs to be insured. If you want insurance for your classic vehicle, and meet the Grundy requirements, they will let you add a motorcycle to your pre-existing policy.

Grundy Worldwide Company History

In the year 1906, the Pullman Carriage Works & Motor Company was purchased by Colonel Baily. At the time he thought that the automobile industry would bring in large profits. Once he had purchased the company, he hired a few top notch auto engineers. With the help of these newly hired engineers, the company began creating an expensive line of touring vehicles in York, Pennsylvania. Ironically, Colonel Baily didn’t usually drive one of his company’s vehicles – instead he preferred to travel by horse-drawn carriage because he thought it was safer.

In 1913, The Pullman Company was sold by Colonel Baily for a major profit. A new set of owners took over and did their best to develop a line of automobiles to compete with the “Model T” Ford. The new line of vehicles didn’t go over well with customers and they eventually went bankrupt. Colonel Baily’s son named Samuel E. Baily took interest in racing cars and motorcycles because his dad would always test their durability and speed. In a motorcycle race, Samuel Baily crashed and broke his back – this ended his racing.

In order to follow in his father’s path, Samuel developed his own line of truck bodies in the 1930’s – he was among the first to make insulated and refrigerated designs. As a result of making a lot of truck bodies, Samuel ended up with a lot of scrap sheet metal. He delivered and sold the scrap metal to Philadelphia scrap companies for an extra income. During one of his metal deliveries to a scrap company, Samuel began to take notice of vintage vehicles. Many rich people were donating their old vehicles to the scrap yards because they were no longer in style.

Instead of letting all of these vehicles get broken down for scrap metal, Samuel wanted to restore certain vehicles. Samuel and his team of workers saw a 1909 Pierce Arrow model about to get crushed and he traded a fresh load of scrap for the car. Samuel and his team of workers restored the car into original condition. Today this vehicle is owned by Jim Grundy – and symbolizes the first vehicle ever to be restored for preservation. Many individuals saw what Samuel had done and talked him into restoring vehicles for them.

During this time, only the rich could afford to have vehicles located and restored to original condition. Among Samuel’s fellow partners were Briggs Cunningham (famous for racing cars in 1950s) and Henry Austin Clark (creator of the Long Island Automotive Museum). As people began getting more cars restored, it became a hobby among many Americans. They began showing them off, which eventually inspired the AACA Fall Meet in Hershey, Pennsylvania – the largest antique car show and swap meet in the United States.

Following the war, Samuel’s daughter Patty married Jim Grundy, Sr. At this time, Jim had created a small insurance company with the money that he was paid by the government in his G.I. bill. The first place that Jim turned for business was his father-in-law Samuel because of his truck business. He developed a policy to help insure the investment he was putting into his antique car collection and charged him lower rates because he didn’t use these vehicles very often. In 1947, the very first policy was created and written for an antique vehicle.

The James A. Grundy Agency is touted as being “The Olde Original” of car insurance. It featured a specific “agreed value” coverage which is a single liability charge for an entire collection of vehicles. It also gave owners lower rates because they rarely drove them – this is exactly what is offered today for collector vehicle insurance. Jim insured Samuel and all his friends, but didn’t really do much advertising for his policy because it was just a hobby. Jim Grundy Jr. went on to expand his father’s company by offering services to the 20 million antique, classic, muscle cars, and street rods in the U.S.

The company continued to expand and eventually dominated the niche of classic car insurance. In 2005, Grundy Worldwide was bought out by Philadelphia Insurance Companies. All policyholders, vehicle owners, and insurance agents now get the added backing of PHLY (Philadelphia Insurance Companies). This allowed customers to get quotes and make payments online and expanded the overall service. Much of the original foundation developed by Jim Grundy, Sr. is still intact today as they continue to serve collectors.

Grundy Motorcycle Insurance Coverage Options

If you own a classic, collector, or antique vehicle and are considering Grundy for your coverage, you should at least be familiar with the coverage options. Although you may own a motorcycle, Grundy representatives will not allow you to get coverage just for your bike – you must first get a car insured through them. Assuming you qualify for their insurance, below is some of the coverage options that they offer. For a company that provides classic bike insurance without first insuring a classic car – check out Hagerty and compare policy options.

Motorcycles covered include: classic motorcycles, cruisers, street bikes, sport bikes, limited production motorcycles, touring bikes, high performance bikes, scooters, mopeds, Harley-Davidson motorcycles, and electric motorcycles. As of now they have a specific coverage called the Grundy “MVP” policy that was developed for motorcycles. This program is for individuals with multiple vehicles and is for every day drivers, service vehicles, classics, exotics, etc. Grundy offers competitive pricing options and discounts if you are interested.

Grundy issues one single policy for all of your vehicles that you insure through them – no need to keep track of different coverage amounts or different renewal dates. All of your vehicles will be insured with an “agreed value” policy. This means that you agree upon the value of your vehicle with the insurance company before you purchase a policy.

Agreed Value Coverage – You determine the value of your motorcycle and other classic vehicles. Once the Grundy underwriters have agreed that it is a fair value, the coverage and limits are set for the policy. In the event of a total loss, the “agreed value” is paid in full with no deductible. They have a 150% valuation protection program for your vehicle.

Automatic Coverage – If you own a new vehicle, you will get automatic coverage on that particular vehicle.

Auto Show Medical Reimbursement – If you get into an accident at an auto show or someone requires medical attention as a result of you and/or your vehicle, this will pay up to $5,000 per person.

Bodily Injury – If you are riding your motorcycle or antique car and injure another person, any sustained bodily injury will be paid for up to the limits that you select.

Cash Settlements – If you ever require a cash settlement (depending on your insurance), you can count on Grundy.

Collision Protection – When you hit another vehicle or object with one of your vehicles, the damages will be paid for up to the limit that you selected for collision insurance.

Comprehensive Insurance – If your motorcycle or collector vehicle is stolen, sustains fire damage, weather damage, animal damage, and/or vandalism – comprehensive coverage will properly reimburse you for your losses.

Emergency Services – If you need emergency road services and/or require emergency living expenses as a result of an accident – Grundy will help.

Full Windshield Protection – You will get full windshield coverage with no deductible after you qualify for a policy.

Highest Liability Limits – For individuals that want coverage for expensive vehicles, you can get up to $1,000,000 worth of coverage.

Inflation Guard – This helps protect the value of your vehicle and has an annual increase of 4% each year. In other words, your limits are gradually raised over time to help you buy increased coverage.

Newly Acquired Vehicles – Not only does Grundy offer coverage for older vehicles, but they provide certain newly acquired vehicles with protection as well. They also have a “new vehicle replacement” program.

No Mileage Limitations – If you purchase this policy, it allows you to use your vehicle in collector activities such as: rallies, parades, and exhibits.

No Model Year Limitations – There are zero limitations on the model year of your vehicle.

Pet Coverage – If you travel with a pet and they require medical attention or sustain injury/death, they will be insured by Grundy.

Property Damage Insurance – Should you be involved in an accident that damages the property of another party, this type of insurance will help pay the reimbursement costs.

Repair Shop of Choice – Unlike most insurance companies, Grundy lets you take your vehicle to a repair shop of your own choosing if it needs repairs.

Security & Loss Control Consultation – If you have a vehicle collection valued over $1 million, the MVP program offers security and loss control consultation to help you find ways to protect your investments.

Spare Parts Coverage – Up to $500 worth of spare parts insurance is included with your policy.
Specialized Claims Staff – With Grundy you will get the help of a specialized claims staff any time you need to file a claim. They have a “concierge-level” claims service to provide top notch customer care.

Towing & Labor Expenses – Each time you need a tow, up to $250 will be covered by Grundy.

Transportation Expenses – Get reimbursed with a no per day limit for the cost to rent a vehicle while yours is in the shop.

Trip Interruption – If you are traveling with your motorcycle and/or collector vehicle and it breaks down or experience a covered accident, you will be given $600 reimbursement for transportation, lodging, and/or meals.

Worldwide Coverage – Get coverage throughout the entire United States and world.

Grundy Motorcycle Insurance Payment Options

It is unclear as to whether Grundy offers more than monthly payments and a onetime payment. They really need to update their information regarding payment structure and time-frame. Even contacting one of their representatives will get you nowhere. Most people pay for their insurance on a monthly basis – this can be easily configured online. However, it would be nice if they offered an alternative to just a full payment and a monthly option.

Full Payment – If you’d like you can pay for your entire coverage in full at the beginning of each policy term.

Monthly – You also have the option of making monthly payments to cover your policy. With this option you will be billed once a month.

Grundy Payment Methods

  • Checking – If you’d like you can have payments automatically deducted each month from your checking account.
  • Credit Card – Your credit card and/or debit card can also be used to make payments.
  • Electronic Checks – If you’d prefer to use electronic checks or EFT payments, you can set this up through Grundy.
  • Online – There is an easy online payment option that you’ll have once you are approved for an account.
  • Phone – Representatives will help guide you to make your payments over the phone.

Does Grundy offer paperless billing?

Yes. Since being bought out by Philadelphia Insurance Companies (PHLY) in 2005, Grundy began to offer electronic paperless policy delivery. If you are environmentally conscious and play your part on helping reduce environmental waste, you may want to enroll in the paperless billing. You can set this up easily on your Grundy Worldwide account.

Grundy Motorcycle Insurance Discounts

Unlike the majority of mainstream insurance companies, Grundy doesn’t have a conclusive list of discounts. Everyone wants to save on their insurance policies, but when it comes to coverage, you usually get what you pay for. Due to the fact that not everyone qualifies for Grundy policies, the people that are accepted are generally a lower risk, financially responsible group of people.

There are still ways in which you can save though – the more business you do with Grundy, the more money you stand to save. Most people will qualify for a basic set of discounts, but individuals and applicants with 5+ (five or more) vehicles or single vehicles that are valued in excess of $100,000 will be given savings.

A.M. Best Rating: A++ (Superior)

The Grundy Worldwide Insurance company has strong financial backing from the Philadelphia Insurance Companies (PHLY) that purchased them in 2005. PHLY was given a rating of “A++” by A.M. Best which indicates “Superior” financial strength. This means that the company is making plenty of money, managing their funds efficiently, and experiencing continued growth. If you need to file a claim with Grundy, they should be able to take care of it without any hang-ups or problems.

Most independent reviews online suggest that Grundy is a reputable, solid company to do business with. All claims are usually paid on time and without question. The amount of coverage that can be purchased is unmatched by most major insurance companies. The average independent customer review gave Grundy 4.5/5 stars. However, more recent reviews have been downgraded to 3.5/5 stars due to the fact that they were bought out by Philadelphia Insurance Company – many people are unhappy with this switch.

Get Free Grundy Motorcycle Insurance Quotes Online!

If you’d like to get free quotes through Grundy, you can visit their website or contact one of their representatives. Remember, you must first have a policy and get approved before you can insure your motorcycle. Once your application has been approved, you can set up an “agreed value” policy. Many people have been switching away from this company due to them being purchased by PHLY.

If all you have is a motorcycle that needs to be insured and don’t own a collector car, you’d be better off comparing the major insurance providers in your area. To do this, simply enter your Zip Code below (or at the top of the page) and compare the top rated companies. It is easy to compare, free of charge, and will help you get the best deal on your motorcycle coverage.

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