American Collectors Enhances Collector Vehicle Coverage

April 29, 2011

American Collectors Insurance has broadened the availability of specialty collector vehicle insurance to vehicles of any year, make, and model, and also introduced several enhancements for collector vehicle insurance.

The enhancements include:

  • Any year/make/model of vehicle: Collector cars of any model year now can be insured on a specialty collector policy. This enhancement affects a large number of late-model collector autos, including exotics, modern classics, kits and replicas.
  • More garaging options: American Collectors now accepts additional garaging options, meaning that collector cars no longer need to be in a closed, locked garage. Examples of acceptable alternate garaging are carports within gated communities, communal garages, and more.
  • Driving experience limits eased: Drivers now need just five years of licensed driving experience, compared with higher previous requirements.

New features for car collectors are:

  • Discounts for high-value vehicle collections: Collector cars or car collections valued at more than $250,000 are eligible for a 20 percent discount on premiums for comprehensive and collision insurance coverages.
  • “Freedom Tier” for general use: American Collectors Insurance has eliminated the traditional industry restriction of limiting usage to hobby use within mileage limits. The new Freedom Tier allows a car to be driven for hobby use as well as occasional general transportation up to 7,500 miles per year, among the highest limits available in the insurance industry.
  • Expanded mileage limits for hobby use: Collectors have a choice of annual usage limits if they use the vehicle for hobby use: 2,500 or 5,000 miles per year.
  • Towing and Labor for Collectors (TLC) plan: This package provides reimbursement for hobby expenses such as emergency towing, roadside assistance, emergency lockout, lost key return, emergency travel expense, car show expenses, theft reward and stolen personal effects. TLC comes in a choice of three levels of coverage.

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