GROWING THE LOCAL MARKETPLACE
In Star Insurance Marketplace, we aim to bring you news and views about what’s happening in the classic car marketplace in New Zealand, and offer some new insights tailored to classic car enthusiasts here. We will look at advice for new and prospective classic owners, what trends are emerging here, and how the market is responding to local factors or overseas trends. We’ll also take a look at particular sectors, and some of the more unusual or appealing cars currently available.
Star Insurance Specialists is keen to collaborate in helping develop the local market for classic car enthusiasts so, this month, we welcome it to New Zealand Classic Car as sponsor for this section. As niche insurance specialists, the team know everything about insuring classic cars, and offer New Zealand’s most comprehensive,
tailor-made policies to customers, to purchase directly or through insurance brokers.
We invited Nick Baker, CEO of Star Insurance Specialists, to outline the approach Star has developed since 1992, when it began creating and managing specialist insurance policies for Kiwis with exceptional vehicles.
“We’re industry leaders because we go beyond doing what’s required to create bespoke insurance policies that fit like a glove,” says Nick. “Our highly customizable Star Enthusiast policy covers classic cars and drivers whose vehicles don’t fit neatly into a box. Star Enthusiast includes three other policy variations for vintage cars, project and performance cars, and motorsport.
“Two identical-looking vehicles will have unique histories, so we look at the finer details and analyze the needs of each policyholder. We don’t let spreadsheets determine your policy or its price, because your situation is unique and you’re not like all other drivers on the road.
“It takes a really special insurance policy to protect a classic car investment. So it makes sense to get special insurance from a company that understands classic car ownership. Star is here to protect the things you’re passionate about. If you have a broker who’s a member of the Insurance Brokers Association of New Zealand (IBANZ), ask them about us; otherwise, contact our team and we’ll tailor a classic car insurance policy as unique as your vehicle.”
If you are buying a classic car, Star Insurance Specialists recommends getting a vehicle appraisal by a classic car valuer, and to continue this practice every two years to check market valuations, because vehicles are invariably insured based on their current value.