Condon Skelly is implementing a different collector vehicle underwriting game plan since its acquisition in 2010 by Pennsylvania-headquartered multilines program administrator NSM Insurance Group.
PRODUCT: Collector vehicle program
COMPANY: Ironshore Indemnity (admitted)
BEST RATING: A–
AVAILABILITY: Independent agents and brokers access collector vehicle insurance through program administrator Condon Skelly.
FOCUS: Condon Skelly is implementing a different collector vehicle underwriting game plan since its acquisition in 2010 by Pennsylvania-headquartered multilines program administrator NSM Insurance Group. For starters, Condon Skelly replaces Metropolitan P&C with Ironshore Indemnity to gain broader underwriting opportunities and greater flexibility. With Ironshore Indemnity, underwriters work with liability limits of up to $1 million, compared to $500,000 maximums with Met P&C, and mileage limitations have been dropped. Also with Ironshore, collectors automatically receive liability and physical damage protection for newly acquired vehicles, something that wasn’t available under the previous regime. By the time this crosses your desk, Condon Skelly expects to have replaced its old website with one that’s been upgraded and expanded for producers to submit applications, obtain quotes within seconds via Insta-Quotes and save them in their personal agency’s portal, and service existing accounts.
UNDERWRITING: Condon Skelly works with a single application and one policy form for both classic vehicles and antiques. In contrast, Program Director Jim Kruse insists that many of his company’s competitors require separate applications for each state. Physical damage limits are assembled on an agreed-value basis, insuring the vehicle’s full value in the event of a total loss. Underinsured/uninsured motorist protection and medical payments protection are available for an additional charge. There are no mileage limitations. Deductibles of up to $1,000 are available.
MINIMUM PREMIUM: $95.
TARGET: Collectors of street rods, antique and classic cars, exotics, vintage military vehicles, muscle cars, street rods, kit cars, vintage farm tractors, classic motorcycles and military vehicles.
COVERAGE TERRITORY: All states except AK, HI, NC and NH.
CONTACT: Jim Kruse, program director, 1 Executive Drive, Suite 5, Moorestown, NJ 08057, 800-257-9496 or 856-234-3434 ext. 110; fax: 856-234-1307; jkruse@condonskelly.com; condonsklly.com.
Ron Lent is an IA contributor.
