Hagerty has introduced two insurance offerings in the UK, both underwritten by Aviva, which are designed to open up classic car ownership to younger motorists and to expand the ways in which enthusiasts may use their cars. From now, anyone aged 21 or above, who has held a full driving licence for three years or more and who owns another everyday vehicle, may take out cover on a classic registered before 2010.
In addition, Hagerty has brought in a daily-use policy that allows cars of more than 15 years old to be driven on a regular basis, although mileage is limited to 5000 per year. The principal driver for this policy must be aged at least 25.
“The type of cars we now class as a classic is changing, as is the age demographic of owners and collectors,” explained Mark Roper, managing director of Hagerty International. “Whether it is the sale of a modern classic supercar at Villa d’Este, or the arrival of a rare hatchback at the Festival of the Unexceptional, the chances are the owners of these vehicles are now younger than ever before.”
He went on to say: “Today a classic car owner is spoilt for choice with car shows, gatherings and events, as well as cars and coffee venues such as our own Hagerty Clubhouse at Bicester Motion, all of which means owners want to drive their cars more often. Also, as many of us now work from home, many choose to run a classic car as a regular driver because annual mileage is reduced. I am delighted to launch these two new Hagerty products to show our continued support of a new generation of classic car enthusiasts and a new way of owning them.”
In other Hagery news, the company has acquired the renewal rights of specialist classic car insurer Gilbart-Smith Associates, effective of September 1. Gilbart-Smith Associates has been operational since 1998, and to ensure a smooth transition Bertie and Emma-Jane Gilbart-Smith will act as consultants for Hagerty over the next year.
“Regulatory requirements and increased consumer duty are making it more difficult for smaller independent companies to operate, consequently we felt it was time to pass the baton,” said Bertie Gilbart-Smith. ” We are delighted Hagerty International Limited, with whom we have enjoyed a strong working relationship for some years, has acquired our book of business.”
More details on the Hagerty updates can be found here.
