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MODERN CLASSICS: THE ENTHUSIASTS DRIVING NEWER COLLECTOR CARS



The 1990s are back in a big way. If you’re paying attention, you’ll see ‘90s
influences all over TV, movies, and music – not to mention rising interest among
car enthusiasts in vehicles manufactured during the Seinfeld era.

For agents, this growing segment represents a lucrative new source of customers
with specialty vehicle policy needs. Thankfully, Hagerty protects ‘90s and newer
too – and we can help connect you to the enthusiasts driving this demand.

Ready to grow your book? Here’s what you need to know.


WHY ‘90S COLLECTOR VEHICLES? WHY NOW?

Call them what you want: modern classics, youngtimers, or RADwood cars. Either
way, enthusiast vehicles from the late 1980s, ‘90s, and early 2000s are on fire.
By our estimation, more than 28 million collector cars manufactured in 1990 or
later are out there in the U.S. alone. You may also be surprised to learn more
than half of all new Hagerty quotes today are written for modern vehicle
opportunities.*

Why? We chalk up the ‘90s and newer boom to both age and income trends.


BUYER DEMOGRAPHICS ARE SHIFTING

We know the Millennial generation represents the collector market’s largest
growth sector. Millennials and Gen Z are the most likely age groups to report
having a classic or collector vehicle already at home in their garages. Interest
in owning a classic among these two generations is also high and actually
exceeds both Gen X and Baby Boomers! Bottom line: your market is getting
younger.


MODERN CLASSICS CAN BE MORE AFFORDABLE

The auction market has gone gangbusters lately. That means some buyers,
especially first-timers, are being priced out of traditional classics. Costs are
typically a bit less steep for many vehicles manufactured in and around the 90s.
For those seeking to enter the hobby without taking on a second mortgage, ‘90s
era vehicles offer more value for the price of admission.


NOSTALGIA FOR THE ‘90S IS REAL

Collector car buyers entering their prime earning years likely received their
drivers’ licenses in the decade prior to Y2K. And like most of us, these young
enthusiasts gravitate toward the vehicles they grew up around. Raised on racing
video games like Gran Turismo, this generation fondly remembers the influx of
imports during their youth. They see ‘90s era Japanese sports cars the same way
their parents saw American muscle cars of the 1960s and ‘70s, and it shows up in
their collector vehicle interest.


FINDING NEXT-GENERATION ENTHUSIASTS

You can find ‘90s and newer owners and new prospects practically anywhere. Look
for enthusiasts around ages 40-55 who have that third car they love, but rarely
use.

Local events like Cars & Caffeine™ and RADwood are also great locations to
prospect. RADwood is the premier automotive lifestyle event celebrating vehicles
from the ‘80s and ‘90s. Hagerty took ownership of this brand in 2022 as part of
its mission to preserve driving and car culture for future generations.

You can even go prospecting for clients already on your book. As collector
vehicle values continue rising, it makes sense to check in. Use the Hagerty
Valuation Tools® to calculate any value changes and make sure they’re protected
for what the vehicle’s truly worth.

Earn trust and loyalty by shifting these cars from standard to collector car
policies. The minimal effort it takes to make the switch more than justifies the
long-term client satisfaction, retention, and referral opportunities you’ll
receive.

Sharing the benefits of Hagerty Drivers Club® is another opportunity to engage
with potential ‘90s and newer collectors. 84% of Millennial enthusiasts tell us
they’d be interested in purchasing a membership, with roadside assistance, VIP
experiences, and Marketplace features most appealing to this group.**


QUALIFYING A 90S-ERA COLLECTIBLE CAR

Here’s your reminder that 1990s and newer cars are right at home on a collector
policy through Hagerty. Think convertibles, two-door sports cars, rides with big
block V-8 engines, and rare vehicles with a limited production run. Here are a
few examples, but there are way too many to list.Keep in mind 90s and newer
vehicles must meet the following requirements to qualify:

 * Your client’s vehicle must be used for collector activities (not a daily
   driver, up to 7,500 annual mileage in most states; up to 5,000 annual mileage
   in California, Florida, and New York).
 * The vehicle must have a $3,500 minimum value.
 * The car or truck must be in good condition unless under active restoration.
 * And the vehicle must be stored properly – preferably in a garage, but a
   carport or driveway is allowed in many areas.

Policy benefits like Guaranteed Value®, our expert claims team, and flexible
usage extend to ‘90s and newer vehicles as well.^ Additional endorsements like
Cherished Salvage®^^ and Vehicle Under Construction can provide further peace of
mind for clients with unique insurance needs.

And whether it’s grunge or boy bands, your client’s ‘90s music collection will
not affect the quote. Hagerty is here to provide the right coverage no matter
what CD or cassette you find in the glove box.


GRAB YOUR FLANNEL AND START QUOTING

Collector car culture can’t and won’t end with cars built in the 1960s and ‘70s.
Not with Dodge Vipers, Mazda Miatas, Nissan Laurels, and other iconic vehicles
from the pre-Internet ‘90s now qualifying for historic plates.

Together, we can offer the best protection for these vehicles and pave the way
for a new generation of enthusiasts.

You can find resources for writing ‘90s and newer vehicles in the Hagerty Agent
Business Center. Fact finders, sell sheets, and sample vehicle lists are all
available. You can also call us at 800-747-5348 or live chat
at hagertyagent.com to talk about additional coverages for your client's
vehicle.

We offer dedicated support 7 days a week. As your expert partner in all things
automotive, Hagerty is here to help.

*Source: Hagerty Policy quotes **Source: HDC Pricing October 2021 (North
America), US Direct Brand Tracking Study 2021 ^ Less any deductible and/or
salvage value, if retained by you. Guaranteed Value includes all taxes and fees
unless prohibited by state law. ^^ Cost of 15% of the vehicle’s comprehensive
and collision premiums (if applicable) and is subject to change. Title branding
is subject to state laws and regulations. +Price subject to change. Maximum
increase of $25,000 per policy period. Value will return to original Guaranteed
Value (AB: Agreed Value) at renewal, unless you request a value increase, and
Hagerty agrees. Guaranteed Value, Cherished Salvage, Cars & Caffeine, Hagerty
Drivers Club, Guaranteed Value & Hagerty Valuation Tools are registered or
common law trademarks of The Hagerty Group LLC, ©2024 The Hagerty Group, LLC.
All Rights Reserved. The Hagerty Group, LLC is a wholly owned subsidiary of
Hagerty, Inc. Membership by Hagerty Drivers Club (HDC), a non-insurance
subsidiary of The Hagerty Group, LLC. Roadside services provided by/thru Cross
Country Motor Club except in AK, CA, HI, OR, WI & WY where services are provided
by Cross Country Motor Club of California, Inc. For additional information and a
complete description of benefits, visit hagerty.com/corporate/legal. Purchase of
insurance not required for membership in HDC.

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