In a significant policy shift, specialty insurer Hagerty will now cover classic cars for everyday driving. The company is also lowering its minimum age requirement for drivers to 21.
This move responds to major changes in the classic car community. Owners are getting younger, and their use for these vehicles is evolving. Hagerty will now insure qualified collector vehicles from before the 2010 model year as daily drivers.
Previously, most owners had to prove they had a separate, modern car for daily use to qualify for a Hagerty policy. The new daily driver policy for classics comes with an annual limit of 5,000 miles.
The company also announced a lower age limit. Drivers as young as 21 can now get coverage for a specialist vehicle. However, to use a classic car as a daily driver, the owner must still be at least 25 years old.
Young drivers aged 21 to 24 must meet two conditions. They need to have another car for regular use. They also must have held their driver’s license for a minimum of three years.
Mark Roper, Managing Director at Hagerty International, explained the changes. “The type of cars we now class as a classic is changing,” he said. “So is the age demographic of owners and collectors.”
Roper noted that younger owners are entering the market with modern classics. He also pointed to new social events as reasons people drive their classics more often.
“As many of us now work from home, many choose to run a classic car as a regular driver,” Roper added. “Annual mileage is reduced, making it more practical.”
He stated the new products are designed to support this new generation of enthusiasts and their modern approach to ownership.
All Hagerty policies are underwritten by Aviva.
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