Wondering what Barret Jackson insurance program is and how it can benefit you? If you are a car collector and love to have classic vintage cars in your garage, then you surely need Barret-Jackson insurance as it provides custom plans depending on your needs.
In this article, we will provide you information about the Barrett Jackson’s Insurance Program. This particular insurance program started in 2009. In 2019, the organization celebrated 10 years of dedicated service to its valued clients. We will highlight some of the features of the program as well.
It has been over 50 years since Barrett-Jackson auctions were held. Car enthusiasts used to attend these auctions in large numbers.
This company is famous for organizing Barrett-Jackson collector car auctions in Scottsdale, Arizona, Connecticut, at Las Vegas, Nevada, and Florida. These auctions now draw collectors from all over the world. It is estimated that over 500,000 people attend the event, where they can enjoy free rides in some of the latest cars.
How does Barrett-Jackson Endorsed Insurance coverage work?
Barrett-Jackson joined up with BridgePoint Risk Management to launch the Barrett-Jackson Endorsed Insurance program to offer the best insurance coverage to its customers.
Who is eligible for this coverage
Everyone. it’s for those first-time buyers who own multi-million-dollar cars. The Endorsed Insurance Program is available in all 50 states. It also provides coverage to international customers, who own collector cars. Many of these collector cars – owned by foreigners might not get maintenance or repair services in their own countries. The Barrett Jackson Endorsed Insurance Program caters to those foreign clients as well.
Barrett-Jackson wanted to offer insurance coverage for ordinary people, including, drivers, motorhomes, for watercrafts, jewelry collections, weapons, fine arts and memorabilia, etc. This is the reason Barrett-Jackson insurance got so popular among the people.
More information on this program
This program is managed by Jim Schwarzkopf, the co-founder of the program. He is also the chief sales officer of BridgePoint Risk Management. This program is meant to provide all the services a client needs.
Barrett-Jackson Endorsed Insurance Program Coverage
As far as the drafting of terms and conditions is concerned, the clients are taken into confidence, and their opinion is considered before making out any provisions for the Endorsed Insurance Program.
Each program/coverage is completely customized. The program offers insurance coverage to any exotic auto-mobile, any classical motor-bike. It will cover classic cars that were manufactured before World War 1 and World War 2.
The main underwriter for all those collections of exotic vehicles, weapons etc. that cost more than $100,000 is AIG Private Client Group. This group offers protection for car collections that include:
- To 150% of the agreed value of an item. But this also means that the market appreciation of the item will also be taken into consideration in the case of a total loss
- The diminishing value consideration. This means the market depreciation of an item will be considered in case there is a partial loss
- Unlimited roadside support. There is no mile limits or dollar limits
- Worldwide coverage and liability coverage in most countries
If you own a classic car, you can take full advantage of the Barrett-Jackson Endorsed Insurance Program. It provides you insurance coverage for any maintenance or repair work that your car requires.
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