Barrett-Jackson debuts collector car insurance
Barrett-Jackson, the well-known purveyor of collector car events and auctions, have decided to roll themselves into the world of custom and collector car insurance. Unlike "mass market" insurance, the type most carry on their daily driver vehicles, custom car insurance addresses the specific needs of the owners of special vehicles. Classic and collector cars are often only driven limited miles, sometimes highly customized, and their market values often higher than other automobiles of the same era – meaning a simple appraisal is usually out of the question.
According to Barrett-Jackson, the auction house polled its customers asking them what they would like to see from the company. With insurance a top priority, the auctioneer decided to team up with AIU Holdings' Private Client Group (formerly AIG) to offer policies which cover vehicles while they are in transit, allow up to 150% of the value documented at the beginning of the policy period, and address diminished value. Policyholders will also benefit from 24/7 roadside assistance. The new Barrett-Jackson insurance program was introduced last week at its Palm Beach auction.
[Source: Barrett-Jackson]
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Reader Comments (Page 1 of 1)
Sea Urchin 8:40AM (4/24/2009)
Classic Cars, fat men, and beautiful young women, why are they all in the same room?
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Reader 8:53AM (4/24/2009)
Money.
John P. 9:15AM (4/24/2009)
That girl in the red dress and that car look like they were meant to be standing next to each other. Just beautiful.
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MajorGeek 9:28AM (4/24/2009)
Great idea, offer car insurance to cars that rarely move and are typically well secured. I know someone who built a good living doing exactly this.
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TigerMil 1:23PM (4/24/2009)
What is it about AIG you don't comprehend?
Step away from the car....
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Rob 4:14PM (4/24/2009)
I looked into collector car insurance once, they told me my wife wasn't allowed to drive it and I could never drive it to work. Thanks anyway.
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Teargas 11:26PM (4/24/2009)
Rob, try Hagerty.com. I'm an agent, they should be able to help you out.
Auto Insurance Helper 9:17AM (4/26/2009)
I consider this to be good news. There definitely needs to be a bit more competition in the collector car insurance field. Who better to offer it than a company that understands the ins and outs of collector car insurance.
I've provided info. for my readers on collector car insurance but I was unable to find very many options for them when it comes down to actual carriers. It's good to see another insurer can be added to the list.
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John Assam 2:38AM (5/07/2009)
I am very pleased with the thought and don’t feel like adding anything in it. It’s a perfect answer.
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John Assam
Car Insurance
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Insurance321 7:59AM (5/12/2009)
This is a wonderful opinion. The things mentioned are unanimous and needs to be appreciated by everyone. The above thought is smart and doesn’t require any further addition. It’s perfect thought from my side.
Ian Roger
Auto Insurance
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Amelie Rowley 6:23PM (5/17/2009)
I think this is good news, collector cars need to be appreciated and properly insured in order to make sure that the owner is protected from accidents or damages!
Amelie Rowley from Collector Car Insurance Blog
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Amelie Rowley 6:24PM (5/17/2009)
http://www.collectorcarinsuranceblog.com