Many collector car owners today are forced to pay substantially more for insurance while also having to navigate confusing program and service fees. Making matters worse, market estimates show that well over 90 percent of collector vehicles in the U.S. are insured by standard auto insurers, which means the vast majority are probably overpaying and missing critical coverages in their policies. It’s unfortunate, but many owners don’t realize they have the wrong type of coverage until it’s too late.
To add insult to injury, there’s the ever-rising costs of auto insurance in general. According to the Bureau of Labor Statistics, personal auto insurance rates have experienced record-breaking hikes in recent years and are now the fastest growing item tracked in the Consumer Price Index, growing on average six times faster than inflation since March of 2023. Today, many auto enthusiasts find themselves paying up to 22-percent more than they did just a year ago—even for those who haven’t had an accident or filed a claim.
It was in the shadow of these skyrocketing costs and other issues that a team of collector vehicle enthusiasts and auto insurance experts got together and decided that enough was enough. Their response was the formation of OpenRoad Insurance, a classic and collector vehicle insurer designed specifically for the auto enthusiast community and their rides.
OpenRoad has built a program specifically tailored to the classic and collector market with the promise of providing automotive enthusiasts superior insurance coverage at a fair price. “When developing our program, we examined all the contributing factors that were causing these rate hikes,” explained Mark VanDam, OpenRoad’s Chief Underwriting Officer. “In the process, we identified several opportunities for us to build a better program, one that passed more savings along to our customers and provided the specialized coverages they need.”
As auto enthusiasts themselves, OpenRoad’s executive leadership team are no strangers to the impact of rising insurance costs. “It’s shocking to see what U.S. drivers have experienced in terms of rate increases,” said Justin Moreno, OpenRoad’s Chief Marketing and Communications Officer. “Our objective is to show these vehicle owners what the right coverage looks like and provide rates that reflect the special care we give our rides.”
Unlike standard auto insurance programs, OpenRoad’s agreed-value policy covers your car for what it’s really worth, taking into account the time, effort, and investments you put into your vehicle as well as its condition and rarity. With OpenRoad, you also know that if you need to file a claim, the repairs will be done right and with parts specifically tailored to your vehicle. You won’t be pushed into working with an “insurance approved” facility, either. Instead, you get to choose a repair shop you know and trust, one that specializes in collector vehicles and classic car restorations.
OpenRoad also offers a generous emergency roadside cost reimbursement program, and even provides relocation coverage for major disasters such as hurricanes and wildfires in addition to several other specifically tailored coverages you simply can’t get anywhere else.
Customer John DiFronzo learned about OpenRoad’s program through a close friend and quickly learned about its numerous advantages over other programs. “I had assumed that all auto insurance companies offered the same types of coverage. But when I looked into OpenRoad I realized how important it was to have insurance that was specific to collector cars,” DiFronzo said. “I also know that if I need repairs from an accident, OpenRoad will cover OEM parts, and I also get to choose a repair shop that specializes in collector cars. None of this was available with my standard auto insurance. I also saved a ton of money, which is great.” Now DiFronzo can enjoy driving his 1968 Chevelle SS restomod without having to worry if he has adequate insurance coverage.
The new collector vehicle insurer has been rolling out coverage across the U.S. since the summer and has seen satisfied customer reviews pour in since, lauding OpenRoad’s exceptional customer service, significant savings, and improved coverage compared to previous insurance providers. Customer surveys have included comments like, “The team went above and beyond to help us,” “Great savings and excellent customer care,” and one customer even stated: “Almost half the price as your competitors for equal coverage.”
New OpenRoad customer Stu Nelson, the General Manager of Porsche Downtown Chicago, was doing some price comparisons for his 1968 Porsche 912 and discovered he was under-insured. “After spending several years restoring my car from the ground up I took a closer look at my auto insurance. With all the investment I had made in terms of time, energy, and of course money, I wanted to make sure I was protected,” Nelson said. “When I looked at the coverage I had through my standard insurance company, I was really surprised. Their coverage was great for my daily drivers but almost none of the coverage I had was tailored to my classic car. I made the switch to OpenRoad immediately after doing a coverage comparison. Now I know I have the right coverage and I’ve been recommending OpenRoad to all my friends with classic and collector cars.”
Like many auto enthusiasts, Brian and Melissa Haske had their collector cars on their standard auto insurance policy. After learning about OpenRoad’s program, they quickly realized that they didn’t have proper coverage for their 1976 Porsche 914 and 2001 Porsche Boxster and have since shifted their coverage over to OpenRoad. “We couldn’t believe how much we saved after switching to OpenRoad from our standard auto insurance,” said Brian Haske. “Not only did we save a bunch of money, but we added a lot of new coverages that we didn’t have with our standard auto insurance. So, the coverage is better and we’re paying less. It was a no brainer for us to switch.”
Collector vehicles and the people who own them are a special breed, and they deserve coverage and rates that reflect the special care we give them. Is your classic car adequately insured? If not, you could be left holding the bag after an accident. What's worse, you might be overpaying for your inadequate insurance. To find out how much you may be able to save with OpenRoad, be sure to check out the handy comparison chart on OpenRoad’s site to see how your current insurance stacks up.
OpenRoad Insurance is currently available 10 states (Wisconsin, Illinois, Indiana, Ohio, Oklahoma, Louisiana, Arkansas, Missouri, Minnesota, & New Mexico) with several more coming online before the end of the year. You can check out their coverage options and get a quote today in about 5 minutes. If coverage in your state is not available yet, sign up for their state launch newsletter so you can update your classic and collector car insurance as soon OpenRoad is available for your area.