The Hanover Insurance coverage Group has partnered with auto insurer Hagerty to introduce Hanover Collector Automotive, powered by Hagerty, tailor-made to supply protection for traditional and collector automobiles.
This collaboration leverages Hagerty’s experience in collector car claims and valuation providers, integrating it with The Hanover’s account safety.
The brand new product is at present obtainable by The Hanover’s impartial brokers in Michigan and Illinois.
The coverage is designed to cater to quite a lot of traditional and collector automobiles together with traditional and vintage autos, collector pickup vans, jeeps and SUVs, restricted version collector automobiles, and modified vehicles and replicas.
Moreover, the insurance coverage plan covers traditional car trailers reminiscent of transport trailers.
The coverage options Cherished Salvage protection, which permits policyholders to maintain their car after a coated whole loss whereas receiving the total insured worth.
It additionally contains blanket private property protection for spare elements and automotive instruments; and Car Below Building protection, which will increase the insured worth of a car beneath restoration by 10% every quarter, as much as $25,000 yearly.
The Hanover has plans to increase this insurance coverage providing to extra states sooner or later.
Hagerty insurance coverage enterprise companion vice-president Nick Cassell acknowledged: “We imagine that becoming a member of forces with The Hanover additional helps collectible automobile house owners who wish to shield the automobiles that imply a lot to them. We stay up for working with The Hanover and their distinctive impartial agent companions to attain our mutual aim of defending extra of those vehicles.”
The Hanover private traces technique vice-president Brad McCreedy stated: “We imagine defending clients’ most treasured belongings with one service is vital in serving to them achieve true peace of thoughts. The Hanover’s relationship with Hagerty permits us to strengthen our whole account choices and ease of doing enterprise, with the excellent claims expertise our clients count on – backed by specialists who actually perceive this distinctive market. It’s the better of each worlds.”
Earlier this month, The Hanover appointed Richard W. Lavey as its chief working officer, a newly created position.
