While participating in vintage race car racing can be a dream come true for enthusiasts, insurance considerations play a crucial role in keeping a dream hobby from turning into a financial disaster.
Increasing auto insurance premiums have been a concern over the past couple of years. Here are four insurance reports agents can use when discussing the market with clients.
From rodent damage to dry rot, classic cars can incur costly damages without proper maintenance.
The program includes specialized classic car coverages and pricing models that account for the reduced accident frequency often associated with collector vehicles.
The ‘90s have officially achieved classic status.
Not only is the hobby transitioning to new generations, both to Generation X and millennials, it is also witnessing the evolution to electric vehicles (EVs).
A surge in classic car values—primarily due to rising inflation and exchange rate variability—means that owners are facing insurance-related issues.
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