Protect your client’s classic car during the winter

Cooler temperatures and fall breezes mean one thing for car enthusiasts. It’s time to put away your classic and collector’s cars for the winter. For some owners, it can mean putting the brakes on insurance coverage while storing your car for the off-season. But that’s a mistake, according to Nicholas Keith (pictured), Hagerty’s senior manager of private customer sales and business development.

“Typically, clients who are storing their cars for the winter will call their broker and say, ‘We only want total coverage.’ Collisions are not covered,” Keith said. I was. Comprehensive only coverage means protection against fire, theft and vandalism. However, accidents often occur during storage.

“We recently had a claim that all of our Pontiac GTO’s had their original paint scratched by glass panes breaking and shattering. It would cost us $60,000 to repaint that car,” Keith said.

He stressed that brokers and owners should thoroughly evaluate storage facilities before tidying up classic and collector cars. Considered antique, cars manufactured after 1980 are considered collector’s vehicles.

“A broker should consider where a client stores a classic or collector car. These could be outbuildings, properties leased by the owner, or storage provided by someone else. , you have to worry about the condition of these properties,” continued Keith. , can’t cover it.”

Comprehensive-only coverage is an option if the classic car is being restored, part of a museum or exhibition display, or is in long-term storage. However, it does not cover damage caused by a vehicle falling off a jack during repairs or a parked vehicle rolling into a garage door after brake failure. All of these scenarios are common to classic and collector vehicles.

And just because their classic car is in storage for the winter doesn’t mean the owner doesn’t want to test drive it. maybe. However, even for such a short trip, your coverage should remain valid. “Haggerty believes that cars are meant to be driven, and driving also helps keep them in good shape,” said Keith.

Hagerty’s insurance programs are designed to provide full year-round coverage for classic and collector vehicles, ensuring that these vehicles are protected against the unforeseen. “This is one annual rate, and brokers and their clients don’t have to make any changes. They don’t have to worry about damage when they store the car.”

“Clients rely on agents and brokers to provide sound advice on how to best protect their most prized assets,” says Keith. “If a customer does not properly insure their vehicle, the vehicle is left at risk.”

Hagerty offers the following unique coverage under its program: hagerty Guaranteed value®** protection and Valuable Salvage™Through *.Guaranteed Value, the client receives 1 cent of the insured value of the car in the event of a covered total loss.

“This allows them to take their time fixing the car and finding the parts they need, which can take a year or two. So I had to send the car from North America to Europe for repairs. model. “

*Cherished Salvage not available in MB. Please submit your claim based on the government policy first, then submit our policy immediately afterwards. Premiums are subject to change. DCPD/BVDC can be included if applicable.
**In the case of a covered total loss, guaranteed value coverage allows the client to receive every cent of the insured value of the vehicle, less the deductible and/or salvage value, if retained ( BC, MB & SK: and after settlement with government policy). AB & QC: Agreed value is applied based on guaranteed value plus warranty.