The improving economy comes with plenty of side effects, and if your agency sells specialty lines, one of them is that your clients have more money to invest in collectibles like classic cars.
Why are classic car repair costs on the rise? In addition to a higher standard of care, the number of specialist mechanics is dwindling.
Independent agent Troy Peterson offers classic car insurance to his personal lines clients. “Due to some technological advances, I’d say it’s actually easier to get a policy than in the past,” he says.
New to the collector car market? Use these five questions to gather information, impress your customers and look like a real expert.
After launching Quantum Auto 2.0 in 2014, Travelers is following up with a homeowners product, which has three levels of coverage: Protect, Protect Plus and Protect Premier.
Because it’s inexpensive and relatively straightforward, renters insurance is particularly ripe for the picking by InsurTech disruptors—but not if you can prove your worth by helping prospects and clients understand the coverage.
Renters currently head up more U.S. households than at any time since the 1960s—and over the last 10 years, renting has increased among demographics which have historically been less likely to rent.
In a market driven by passion, proving your value as an independent agent requires understanding coverage nuances that could make the difference between a salvage and a total loss.
Even if you don’t know it, you probably have more than a few classic cars hiding somewhere in your standard personal lines book—and it might be time to shop them around.
In the wake of the 2008 recession, collections are no longer just hobbies—they’re valuable assets. Are you certain your classic car clients have coverage that will protect their vehicles to their full market value?
