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Specialty Auto Insurance Makes Sense for Collectors

As an independent insurance agent, you are always looking for ways to reach more collector and classic vehicle owners. Collectors may not be aware of the benefits of specialty insurance.
 
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Customizing a policy for their specialty vehicle may be a novel idea for owners who don’t realize the savings it affords. Premiums for standard car insurance can be 50% higher than specialty coverage. These one-size-fits-all policies contain features most collector owners do not need. Paying for unlimited mileage when their vehicle never leaves the garage is a waste of money, for instance.

Steps for Reaching More Classic Owner Clients

#1 - Determine how your owner plans to use their collector or classic vehicle.

For some, restoring a rusty relic into their dream car is the ultimate goal. Others plan to show their masterpieces at select auto shows across the country – or at the local cruise-in. Still others want to take their classic on the road as a daily driver. The answer to “You now own a vintage Aston Martin, Mr. Bond. What do you plan to do with it?” will give you all the clues you need to move on to number two.

#2 - Customize the ideal plan.

Put together a few sample policies for your owner. Show them how Classic Auto’s tiered mileage plan – 1,000, 3,000 and 6,000 miles - can save money over the unlimited miles option and high premiums of standard car insurance. Explain that they can rollover any unused miles year to year. If your owner is still in the middle of a restoration, mention that Classic Auto covers their collector vehicle even while it is a work in progress. Once you have a couple of solid plans in place, schedule a meeting. Put together a cost comparison with their current policy and let the savings do the talking for you.

#3 - Give it time, then follow up.

A collector or classic vehicle owner is a planner and big on details. They may not be ready to commit when you show them what an insurance policy from Classic Auto can do for them, but that isn’t the end of the conversation. Give it a day or so and follow up. In this digital age, do something unexpected; write them a note and mail it or have it delivered. It’s just the sort of detail a collector and classic vehicle owner could appreciate. If they have already committed to switching to Classic Auto, follow up with them, too. Let your owner know you appreciate their choice. Again, little things count big with collector and classic clients.

#4 - Stay connected and top of mind.

Most insurance companies rest on their laurels once the policy is signed. Prove to your clients not all specialty insurance companies are the same. If you say you will be there for them, do it. Make time to stay connected with your clients throughout the year. Visit their garages and take notes on what is going on with your owner and their collection. When renewal time rolls around, you already know what needs tweaking. Keep collector and classic vehicle owners coming back to you and Classic Auto. Specialty car insurance customers are as unique as their vehicles. One-size-fits-all protection does not work for them – and neither does a same-old-same-old insurance agent.

Classic Auto Insurance – What Makes Policies So Different

In addition to customized policies for each client’s vehicle based on Agreed Value, flexible mileage plans with rollover miles, a simple claims process using their repair shop, a single liability charge for multiple vehicles, spare parts covered to $2,000 or more, trip interruption, pet injury and 30 days of new purchase coverage, Classic Auto insurance policies offer options for nationwide roadside assistance with guaranteed flatbed towing, no-cost windshield replacement and coverage when out of the country. In addition, collector and classic vehicle owners can take advantages of discounts for car club memberships, anti-theft devices and completion of accident prevention courses.

Learn more about how to fully protect a classic »

 
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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: 6/30/2018 5:19:55 PM with 0 comments


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Since 1992 Classic Automobile Insurance has been one of the top agencies protecting collector, classic and exotics cars.  Get a quote now or contact us at 1-888-901-1338 to see how we can serve your needs.
 
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