Markel American Insurance Co. introduced a new Collector Vehicle Insurance program. This program joins its other specialty personal lines, such as motorcycle and various boat products.
The program provides coverage for a variety of collector vehicles including antique autos and motorcycles, street rods and replicas. It also boasts a very competitive policy form with no mileage limitations.
“In a market that traditionally places strict limitations on the use of an insured collector vehicle, Markel American has developed a product designed to meet the needs of the classic vehicle enthusiast,” said Timberlee Grove, president and COO of Markel American Insurance Co.
A Markel Collector Vehicle policy provides liability, agreed value physical damage coverage, medical payments and uninsured motorist coverage as well as any other state-mandated coverage. Also included is coverage for accessories, trailers and spare parts.
The product will be distributed through retail and wholesale agents who focus on collector vehicle insurance. Currently the program is available in MA, RI, NH, ME, VT, IN, IL, MI, OH, KY, TX, WI, MN, TN, IA, MO, AR, OK, LA, CA with planned expansion to make the coverage available nationwide.
Source: Markel Corp., www.markelamerican.com
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