SCOTTSDALE, ARIZONA (April 13, 2009) – The Barrett-Jackson Auction Company introduced a collector car insurance program for car enthusiasts and collectors worldwide during the 7th Annual Barrett-Jackson Palm Beach Collector Car Auction. “Barrett-Jackson Endorsed Collector Car Insurance”offers comprehensive insurance coverage designed especially for collectors, along with competitive prices and a menu of supplemental services to enhance the protection of insured vehicles.
Barrett-Jackson selected Private Client Group, a division of AIU Holdings, Inc., to provide the new insurance offering to its customers. Policies are underwritten by member companies of AIU Holdings, which carry “Excellent” financial strength ratings from the industry’s principal rating agencies.
“Both of our organizations have leveraged their expertise to offer an exceptional program,” said Craig Jackson, Chairman/CEO of Barrett-Jackson. “Private Client Group has built a successful business insuring a variety of assets, including collector cars, for high net worth customers worldwide. By tapping our ability to deliver a premium experience, vast database of vehicles from almost 40 years of auction and unrivaled understanding of collector cars, Private Client Group will be able to offer the best coverage and service in the industry. We just changed the way that people will look at collector car insurance.”
Private Client Group specializes in property and liability insurance for successful individuals and families. In addition to collector cars, insurance is available for homes, everyday autos, art and other collections, excess liability and more. Private Client Group also offers an extensive range of risk management services designed to prevent avoidable losses and minimize the likelihood of property damage.
“Many collectors insure their vehicles via standard auto policies, which simply aren’t written to adequately protect the features that make these cars so special,” said Charles Williamson, President, Private Client Group. “We are excited to deliver a customized program that mirrors the unparalleled customer experience Barrett-Jackson’s bidders, consignors and other enthusiasts have come to expect.”
The new collector car insurance program is available to all collectors, even on vehicles not purchased at a Barrett-Jackson auction. Coverage is intended for classic, antique, exotic, special interest, or limited edition cars that can be used in car club activities, exhibitions, parades or for private collection. Most are driven infrequently and stored in a fully enclosed, locked garage (or other secured location) when not in use. In addition, policyholders’ claims will be handled by individuals with expertise in the care and restoration of collector vehicles.
“The policy prices are extremely competitive and coverage is exceptional,” added Steve Davis, president of Barrett-Jackson. “As car guys we were able to help custom tailor this program to fit the needs of our collectors to ensure their Barrett-Jackson experience is enhanced by the addition of this product. And like our auction lineups, ‘Barrett-Jackson Endorsed Collector Car Insurance’ will cover everything from brand new Corvette ZR-1s to European classics and vintage Shelbys.”
The Delp Company, an independent insurance agency, was chosen as a servicing agent for the program. Agents were in attendance at the Barrett-Jackson Palm Beach auction to offer the policy and welcomed multiple new customers.