Classic cars are one type of asset which makes an interesting alternative to leaving your money in the bank and earning 0.8% interest. Sure, there are running and repair costs, but you can get the social fun of driving it as your mint Corvette appreciates in value. Here’s some news from the US market;
Berkley One (a Berkley Company), an insurance provider for modern, sophisticated individuals and families, today announced Collector Vehicle as its newest product, as well as homeowner rating enhancements in Michigan.
Since 1974 collector vehicle owners have turned to Berkley for expertise and service, most recently provided by Berkley Classics which has now become Berkley One Classics (“Classics”). The Classics knowledge, responsiveness and stability that clients have relied on stays the same and existing Berkley Classics agents and customers can continue to access the team. Berkley One is adding to it with new technology and innovation.
“Our clients define adventure in a variety of ways and we’re here to support them with a suite of solutions,” remarks Kathy Tierney, President of Berkley One. “With the addition of Classics to our portfolio, we now offer 9 personal insurance products and deep experience in working with collector vehicle clients.”
Classics launches as part of Berkley One in Minnesota, with additional states to follow. It is offered through agents with a Classics appointment with Berkley One. In addition, Berkley One has made pricing enhancements for homeowner coverage in Michigan.
“Bringing together Berkley Classics and Berkley One is a significant endeavor and I couldn’t be more pleased with the collaboration of our teams to deliver this expansion and serve clients and agency partners effectively,” says Tierney.
Berkley One’s current footprint includes Arizona, Colorado, Connecticut, Florida, Georgia, Illinois, Massachusetts, Michigan, Minnesota, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Texas, Vermont and Wisconsin. Individuals living in these states can find an independent agent or request a quote at berkleyone.com.