Dallas-based OpenRoad Classic Car Insurance is set to debut this Monday in select Midwest states, with plans for expansion into Texas and beyond by fall. The insurance company, founded with a focus on catering to collectors of classic and modern collector vehicles, aims to provide specialized coverage and competitive pricing to address the unique needs of auto enthusiasts.
OpenRoad’s CEO, Richard Hutchinson, emphasized the company’s departure from traditional auto insurance approaches, stating, “Our program is designed specifically for the auto enthusiast community, offering comprehensive coverage and fair pricing.” Backed by Griffin Highline Capital and underwritten by National Interstate Insurance Company, OpenRoad promises tailored services that include protections not typically found in standard auto insurance policies.
The company’s offerings extend beyond classic cars to encompass a diverse range of collector vehicles such as muscle cars, antique fire trucks, and even military vehicles. Justin Moreno, Chief Marketing and Communications Officer, highlighted the timely need for affordable coverage among collector vehicle owners, citing recent industry data on rising insurance costs.
OpenRoad distinguishes itself with specialized coverages like agreed value coverage, which accounts for a vehicle’s rarity and historical significance. Mark VanDam, Chief Underwriting Officer, noted, “Our pricing models reflect the lower accident frequency associated with collector vehicles, ensuring competitive rates for our customers.”
With plans to expand nationwide and a commitment to serving the niche market of over 40 million collector vehicles in the United States, OpenRoad positions itself as a strategic choice for auto enthusiasts seeking tailored insurance solutions.
In conclusion, OpenRoad Classic Car Insurance emerges as a promising option for collectors seeking comprehensive coverage and competitive rates in an increasingly challenging insurance landscape.
