Using CARnection Advisors to plan for the future of your Vehicles
Carnection Advisor founder Jim Kruse was raised in a family that restored some of the rarest cars in the world. A past board member of the Horseless Carriage Club of America, he went on his first car hunting trip at the age of 12 and grew up driving in hundreds of rallies. It was during this time that he decided to seek a career in the collector car industry. That decision led him to become a premier collector car insurance expert.
Over the last two decades, Jim traveled the world to be with cars and collectors at events like the Pebble Beach Concours d’Elegance, Amelia Island Concours d’Elegance and the Paris Retromobile. When you’re around collectors as often as Jim, you get asked a lot of questions. “Where should I sell my car?” “My kids aren’t interested in the cars, what should I do?”
Acquiring a classic car is easy. Mapping out a succession plan for your collection is an artform. That’s where Carnection Advisors come in. As a fee based advisory firm, we never take payment from any business or organization. We work solely in your best interest to put your plan into action.
CARnection advisors provide confidential and objective classic car advice to our clients by assisting them in pre-planning the future of their collection. It’s an important part of an estate but frequently gets left to the surviving spouse at the worst possible time. The Carnection Advisory Plan (CAP) is a four-step process.
- Get to know you and your history.
- Review each car and establish its General Market Value
(GMV). - We’ll go deeper to establish the Historic Market Value (HMV) for each car by documenting what makes them unique.
- Map the future of your collection and store the cars in your own virtual garage.
To learn more, be sure to visit www.carnectionadvisors.com
CARnection was invented by Jim Kruse of Classic Auto Insurance.
Indianapolis, Indiana is home to a great many automobile lovers. Known as the Crossroads of America, the city rumbles at the heart of four Interstate highways and six U.S. highways. It’s where the Indianapolis Motor Speedway hosts the most attended single-day sporting event in the world, the Indianapolis 500…
but… Indianapolis is also home to Classic Automobile Insurance Agency, a family business built on a love of classic cars that drives truly inspired service for collector and classic car enthusiasts. And that’s why we have Jim Kruse the Vice President of Classic Auto Insurance on this episode to talk about protecting your pride & joy!
Check out the follow-along notes, transcript and more details for this episode at GTM
In our discussion with Jim, we cover topics like:
Classic Auto Insurance has been around for over 25 years; how and why did it get started. And how did you get involved in the insurance business?
- How does Classic Car insurance differ from regular car insurance?
- Are these a declared value plan? If so, are appraisals required? Or is there a minimum value before that kicks in as well?
- We’ve heard that there are different types of classic and collector car insurance in the sense that some care and others don’t how much the vehicle is driven. How are your plans structured?
- Who underwrites all the policies for CAI? Do you underwrite your own policies or is a 3rd party involved.
- What does classic car insurance cost compared to regular insurance?
- Are there provisions for classic car insurance? Meaning… limits on mileage, use, are the vehicles covered while at a car show, what about on a road rally or tour? or on the trailer/in-transit?
- Does the insurance cover vintage race cars? Or will they also need Track Day insurance?
- One of the other ventures you’re involved in is called CARnection – let’s talk about its genesis, how it relates to Classic Car insurance, etc. What is CARnection all about?
The truth of the matter is, everyone should be using Classic and Collector Car insurance instead of their generic carriers. Classic Auto Insurance offers specialized classic car insurance coverage you just won’t find anywhere else. Their goal is to offer clients a tailored insurance policy that is as unique as the collection in their possession; coverage which will help them protect and pass on the legacy they have worked so hard to build. To learn more about Classic Auto Insurance or get a quote online, be sure to logon to www.classicins.com or follow them on social @ClassicAutoIns on twitter, @ClassicAutoInsurance on Facebook , @classicins on Instagram as well as on LinkedIn, Pinterest and don’t forget about their Youtube channel!
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