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classic car advise for insurance agents

Introducing a new benefit from Classic Auto that will help you forge long-term partnerships with your collector car clientele.


Each edition of Classic Auto Agent’s Corner offers support for independent agents before, during and after writing a policy with Classic Auto Insurance. Curated content and featured articles focus on empowering you with insight into what drives classic car collectors and solutions for customizing specialty insurance for collector and classic vehicles that fits the individual owner’s needs.

4 Hot Talking Points for Collector Car Insurers


When searching for classic car insurance, owners prefer to work with an agent who understands their passion for unique collectibles. Many have been collecting their entire lives. Some are stewards of antiques passed down through generations and are very keen on preserving family history. Others are just learning how rare, valuable and irreplaceable collectible vehicles are. Whether seasoned arbiters of ancestry or part of the new generation of enthusiasts, classic car collectors are emotionally involved in their hobby. They demand an insurance agent who is aware of the effort that goes into keeping their cars in peek condition and knows how to protect them.

Right now, specialty insurance rates for collectibles are far more competitive than standard policy rates, so prove you walk the walk and talk the talk by keeping these insurance concerns of classic car collectors top of mind:

1) Insuring Just-Purchased Classics – Classic car enthusiasts can bid on vehicles more easily than ever before, which means building that collection they’ve always wanted is within their reach. Make sure your collector clients know if they buy another vehicle, it will be covered automatically by their policy, whether they drive it home or have it shipped.

2) Transporting with a Professional – From attending car shows to shipping a new purchase to the garage for restoration, collectors want to feel confident in a carrier’s ability to deliver their vehicles in perfect condition. Typically, they choose from two types of carriers for transport: owner/operator companies and transport brokers. Most carriers are responsible for losses caused by their negligent actions and will not cover damage in the event of a natural occurrence like hail or fire. Make sure your collector clients know what to do before booking a carrier and have agreed value coverage.

3) Protecting Collectibles in Storage - For enthusiasts who own a classic collection, they’re likely to require ideal off-site storage rather than keeping their cars at home in the garage. They may rent space in a commercially-zoned location. Make sure your collector clients use off-site storage facilities that have adequate protections in place for collectible automobiles.

4) Covering International Travel – When Dave Bannister, founder of the Ford GT Forum, and a few of his fellow GT owners travel to 24 Hours of Le Mans in celebration of the car’s 50th Anniversary, they load their GT’s onto a container ship and send them across the Atlantic. Then, during their tour of European racing circuits, one of the owners has an unfortunate accident with his GT, forcing a trip back to the U.S. earlier than planned. For those attending an international car event or simply planning a European vacation with their classic in tow- make sure your collector clients have coverage for shipment or air transportation of their vehicles.

Sweet Spot of Classic Auto Insurance - Agreed Value

Collector and classic cars are much more than average daily drivers. Their owners spend years searching for original parts or customizing them into works of art. They put a lot of blood, sweat and tears into building a collection, ensuring its popularity across generations. As a result, the total loss of a collectible vehicle can be devastating for an owner. The sweet spot of any insurance policy for collectible vehicles is agreed value. It is your collector client’s best option because the value of their vehicle is realized. With Classic Auto’s Agreed Value coverage, we work with you and your client to determine the value of their collectible and insure it for that amount.

The benefit of agreed value coverage? Your client receives that exact agreed upon amount in the event the vehicle is totaled in a covered loss (minus deductible). The advantage is clear, over stated value coverage offered by other insurers for collectible vehicles. That is just actual cash value coverage with a maximum limit – the stated value. The insurer pays the vehicle’s current market value, which it determines after the loss. If the value of the vehicle is lower than the stated amount, the insurance company can and will pay less.

Learn more on how to fully protect a classic »

The Classic Auto Insurance Difference

As an independent agent, your goal is to find the best protection possible for your collector clients. Saving them money strengthens the loyalty they give you and keeps them coming back. In partnership with Classic Auto Insurance, you can offer the coverage and options a collector wants, tailoring policies to fit their needs and doing it for less than what a standard auto policy might cost. Agent partners also enjoy a minimum commission of 10% for every new and renewed policy. To become a referring agent, contact us today.

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Posted: 4/6/2018 4:16:30 PM with 0 comments


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