New classic and modern collector vehicle insurer, OpenRoad, has announced it will begin offering coverage across select U.S. states on Monday, July 15, 2024.
OpenRoad will be centered around Midwest states with coverage becoming available across Wisconsin, Illinois, Indiana, and Ohio. The collector vehicle insurer aims to add an additional 12 states before the fall and ultimately plans to offer coverage countrywide.
OpenRoad’s insurance program includes specialized coverages tailored to the unique needs of classic and modern collector vehicle owners, with many protections not available through standard auto insurance programs.
OpenRoad said its pricing models also accounts for the reduced accident frequency often associated with collector vehicles, resulting in lower insurance rates for their owners.
“We know that the auto enthusiast community has been affected given most U.S. collector vehicles that are eligible for our program are currently covered by standard auto insurance carriers,” 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 they give their rides.”
OpenRoad CEO Richard Hutchinson is an insurance industry veteran with over three decades of experience including executive leadership roles at Progressive, Hagerty, and Forge. He was president at Hagerty for nearly 6 years.
OpenRoad is headquartered in Dallas, Texas.
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