Affluent

As generations grow older, the definition of a classic car is changing. Agents have the opportunity to provide products and coverages to the newest generation of collectors.

The classic car market has seen an increase in sales over the course of the pandemic, one that is only increasing as pandemic restrictions are beginning to lift.

“If you’re going to get into the classic car specialty market, you need to learn all about classic cars just like we did,” says independent agent Peter Sacchetti. “You should never speak about something you don’t understand—and that includes the car and t

As new collector enthusiasts from Generation X and the millennial generation enter the market, agents have a great opportunity to work with an emerging segment.

“Selling classic car insurance is definitely a leg up,” says independent agent Kelly Haynes, “because clients call us for their regular auto or homeowners, and they don’t realize their local agent can offer classic car insurance too.”

As close to 76 million baby boomers reach retirement age, the classic car enthusiasts among them are looking to cash in on the hobby they hold so near and dear to their hearts.

Owners love their cars, showering them with tender loving care. They want coverage that will take care of them, too. Classic car insurance is the best way to keep your client’s classic or antique car safe and sound.

How are younger buyers shaping the collector car market? How will prices shift in the coming years? Here’s what you need to know.

Daily drivers, price shifts and more. Here are four things insurance agents need to know about the trends shaping the collector car market.