Berkley One Updates Collector Vehicle Insurance with Enhanced Coverage Options

Berkley One, a division of Berkley Insurance, has introduced enhancements to its Berkley One Classics collector vehicle insurance policy across nine U.S. states, including Connecticut, Illinois, Massachusetts, New York, and Texas. These updates mark the company’s 51 years of service to the collector car community and reflect an effort to modernize coverage options in response to evolving market needs. Key revisions include extending the newly acquired vehicle coverage period from 30 to 60 days, removing the vermin exclusion, and adding disaster relocation coverage up to $500 per vehicle, with a policy maximum of $5,000. Alongside the base contract refinements, Berkley One Classics has launched new endorsements that provide customizable features to better protect collector vehicles. The Salvage Value Endorsement allows policyholders to retain salvage vehicles up to a $50,000 limit after a total loss, while the One Value Endorsement offers bundled coverage encompassing car covers, post-loss trailering, automotive tools, personal effects, and vehicle documents. These endorsements cater specifically to the unique risks and preservation needs inherent to collector automobiles. This policy expansion and enhanced customization ability align with Berkley One’s strategy to deliver comprehensive, flexible insurance products tailored for sophisticated clients within niche markets. The updates currently apply in nine states but are expected to roll out more broadly across Berkley One’s 24-state footprint that includes a mix of western, midwestern, and eastern states. The enhancements reflect broader industry trends toward specialized coverage products that address the specific circumstances of distinct client segments, in this case, classic and collector car owners. Such tailored insurance solutions help address gaps in traditional auto policies, including coverage for unique risks like disaster relocation and salvage retention. Berkley One is part of the larger W. R. Berkley Corporation, a premier commercial property and casualty insurance group rated A+ (Superior) by A.M. Best. W. R. Berkley reported $14.2 billion in gross premiums written in 2024, underscoring its significant market presence. Berkley One’s focus on niche products like collector vehicle insurance exemplifies ongoing diversification strategies within the property and casualty sector. Insurance professionals should note these coverage enhancements as examples of how carriers are innovating to meet the expectations of specialized insureds. The expanded options also highlight regulatory compliance considerations in designing policies that account for unique asset protection needs. Market observers may watch for further geographic and product line extensions from Berkley One as part of its strategic growth plans.