I recently submitted the paperwork and photos to apply for a "classic car" policy with State Farm on the MR2. The underwriters denied my application with comments on the car not being a collector piece and the 2zz swap not being original. I'm not saying they are wrong but I wanted to get a feel for what other people on here have done with insurance. Anyone have more classic car type insurance on the spyder?
anyone with classic car insurance on the MR2
Billy C
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I strongly recommend going with Hagerty insurance; stated values, better prices and good service. I have four sports cars covered for less than $1000 a year. Cheaper than our SUV! My insurance guy wrote it up, or call direct.
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I WAS PAYING 961.00 A YEAR WITH ALLSTATE.......i have the 2001 MR2 SPYDER at the upholstery shop getting a new leather roof and leather cover on the seats... i have cancelled the allstate coverage..... i will add the SPYDER with Grundy's when the work is done... an application needs to be done, hope that doesnt take too long...........QUESTION: HAS ANYBODY ON HERE FILED A CLAIM WITH GRUNDY'S , JUST CURIOUS ON THE RESPONSE TO THE CLAIM.....my quote for 15,000.00 coverage was 216.00 per year...... thanks . frank dallas,tx
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Same here!
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GREAT... will get a quote from Hagerty................ thanks for your response....
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Note, the savings compound with multiple cars because they know you can only drive one at a time. The last two cars I added only increased payments by a couple hundred bucks. I like that everything is covered by a high ‘stated value’ based on what the car is realistically worth, they’ll help with that. Good luck!
I’m with Hagerty here in Canada as well, $600 a year but no issues with the modifications.
Going through some old threads I noticed I never followed up on this... After some emails to the underwriters at State Farm they decided to accept my Spyder onto one of their collector/antique policies. I think it's something like $12 a month now with an agreed value at $10k. It's similar to my other cars with the same designation.
Are there restrictions?
I have been with State Farm for 35 years, and one reason that I am happy with them is that they have never argued about payment.
I will point out that it is usually not a good idea to cancel your insurance until you have another policy in force. In many, maybe most, states, cancelling your insurance can start an unpleasant chain of events where the DMV cancels your registration and the local sherriff's department comes looking for your plates.
They keep track of mileage on all of my cars but there aren’t specific about restrictions. I think is just for mileage discounts.
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Strongly recommend using Hagerty for stated value policy, they are great at estimating valuation and the price is great, especially with multiple cars. I pay more for our 2012 Honda Pilot than I do for three collectible roadsters on a second policy.
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2001 MR2 SPYDER, switched in 2022 to Grundy's insur. paying 220.00 per year.. insured for 15.000.00......... was paying allstate around 1100.00 per year.......
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oops ! was paying 961.00 to allstate...
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Does anyone have experience with Grundy versus Hagerty regarding ”approved use”? Grundy uses the words “hobby and exhibition use only”. Where Hagerty says “occasional pleasure use”. I want to be able to hop in my spyder and go for a hamburger if the mood strikes, and not be limited to driving ONLY to car shows.
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You are reviving a very old thread!!
Hagerty is pretty reasonable and flexible with their insurance coverage for "pleasure use". I dont know about Grundy, but I would suspect "hobby" use is pretty flexible too. I personally use the insurance company from the National Corvette Museum. I have used them since before I got a Corvette (although I have one now), they will insure all types of collectible vehicles. My MR2 insurance is $19/mo for full coverage. I can drive up to 6k miles per year, and it works like a mileage bank, whatever miles I don't use roll over to the following year. I have something like 60k miles banked now, so I will never use them. They are very reasonable about usage, because of the Corvettes, they want you to use the car for any types of pleasure driving. So running out to get a burger and a shake is fine, taking it on date nights is fine, going on a road trip to the mountains is fine, etc.
I think the point is that with collector cars, your actual insurance agent matters as much as which company you use. The NCM represents all the collectible carriers, but I have always been placed with American Modern. If the rates were better with Hagerty or Grundy then NCM will use them. You should give them a call. And yes, you have to call, their website is from the dark ages, its useless and the quotes there are wrong too. Don't hold that against them, they are really great to work with! 270-467-8848
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Thanks, great to hear about alternatives! So NCM sounds like a broker. The mileage allowance must be offered by American Modern - because neither Grundy nor Hagerty have a similar mileage program (that I'm aware of). Ah, I see from American Modern website.
"
"
- Agreed value total loss settlement*
- Usage for car shows, parades, car club exhibitions, occasional pleasure drives, driving to work (optional coverage)
- 1,000, 3,000, 6,000, or Freedom mileage plans "
I’ve had the Spyder with Grundy since 2015,
To get a classic plate in PA they required classic car insurance
Grundy asked me how many miles I would be driving the car when I first signed up.
I believe I stated 1500 miles
They never set any limits or conditions other than not daily driving to work
I’ve since added 3 other cars
I too would like to hear about any claims
To get a classic plate in PA they required classic car insurance
Grundy asked me how many miles I would be driving the car when I first signed up.
I believe I stated 1500 miles
They never set any limits or conditions other than not daily driving to work
I’ve since added 3 other cars
I too would like to hear about any claims
Did something change recently? On my mr2 specifically I had classic registration (plate) before I had any special insurance.
I may have been thinking of antique plates, memory could be an issue as well
are you in Pennsylvania?
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