OREANDA-NEWS. June 24, 2009. The new product enables the owners of vintage cars to choose the most suitable form of insurance protection. Any unique car may be insured for the duration of various events (rallies, exhibitions, etc.) and for the duration of storage in an enclosed space against such risks as fire, theft, or robbery. The insurance coverage also contemplates protection of cars as transport vehicles (in case of a traffic accident) for the duration of their transportation to the place of destination, reported the press-centre of ROSNO.

Autovintage coverage is intended for the owners of rarity cars, whether original or restored to the zero mileage condition, aged 30 and more years.

The insurance program is based on the "meccano" principle: the protected risks are chosen depending on the needs and desires of the insurant. The developers of this product have taken into account all major risks facing the owners of rarity cars during their operation and storage. Clients may choose a restoration workshop at their own discretion.

The insurance coverage of a rarity car as a transport vehicle protects the vehicle against the risks of theft, damage and fire. Insurance coverage can be provided for cars with value of 80 000 US dollars and higher. The annual mileage limit has been set at 2,000 to 5,000 km and will be revised depending on the client’s intentions. All persons allowed to drive the insured vehicle must be aged at least 30, with at least 8 years of driving experience.

If the relevant car is kept in garage, and its owner takes it outdoors only in order to participate in the key events, ROSNO offers such clients short-term insurance covering only the period of transportation and participation in the exhibition. The minimum insurance period is 3 days.

For the collectors viewing rarity cars much as engineering and design artefact, rather than transport vehicle, and abstaining from using such cars for transport purposes, ROSNO has developed a package offer for insurance coverage of cars of particular value. In such case, the following risks will be insured: burglary, robbery, brigandage; fire, lightning stroke, explosion, PDTL, and collision with transport vehicle. Insurance coverage can be provided for cars with value of 50 000 US dollars and higher.

"Rarity cars are becoming a hobby for the increasing number of Russians. Vintage autos are kept both in private collections and by our corporate clients. Storage and maintenance of such cars may be associated with significant expenses. Having identified our insurants’ increasing need in protection of unique cars, we have developed a comprehensive offer enabling to take account of all possible needs of an owner. In this respect, we have benefited from the expertise accumulated by Allianz in insurance coverage of rarity cars, as well as the experience of ROSNO, which has been insuring many private collections of cultural and artistic value", comments on the launch of this new product Mr. Artem Iskra, Director of the Personal Property Insurance Department.