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Automobiles have long been a passion for collectors and enthusiasts, as well as a valuable financial investment. Whether it’s a popular performance car, a culturally important vehicle, a high-end luxury marque, or a rare antique — collector cars have captured the imagination and emotions of aficionados for many generations.
If you currently own a collector car, or if you plan to purchase one in the future, there are special considerations to take in order to protect your investment.
When it comes to insuring your collector cars, it pays to have an experienced partner at the wheel. Most standard auto insurance solutions may not meet the unique needs of high-value or collector cars. But with Marsh McLennan Agency Private Client Services (MMA PCS), you have access to the expertise, global resources, and specialty solutions you need to ensure you’re properly covered.
Here, MMA PCS explores the world of collector cars and the risks that come with owning them.
Reducing Risks When on the Road
One thing all car collectors share is a passion for driving. However, when it comes to taking prized vehicles out on the road, collectors need to keep potential risks in mind.
Protect Your Investment
A collector car requires insurance protection that’s unique to the vehicle it covers. If you own a special set of wheels (or are thinking of getting one), learn more about the type of policy that’s best for your needs.
Risks in Storing and Maintaining
Keeping collectible cars under lock and key sometimes isn't enough to protect them from damage or loss. Collectors should be aware of natural and human-caused threats, from severe weather to theft.
Displaying and Loaning Collector Cars
Enthusiasts often enjoy connecting with others and sharing their collections. From automobile gatherings to charity events to museum exhibits, risks can arise whenever and wherever collectors transport and display their vehicles.
Buying Sight Unseen
Buying collector vehicles online can be a daunting process. Learn these car-buying pointers to make your transaction easier and hopefully worry-free.
Meet the New Faces of Collector Cars
As younger Generation X and older millennials have entered their prime earning years and are able to afford the cars they loved as youths, they are chasing after these vehicles in ever-growing numbers.