WITH THE CLASSIC CAR MARKET sustaining interest internationally, Barbados is not being left behind.
A near 40-year-old Morris Mini Clubman was voted Car Of The Show at the recent Retromania exhibition hosted by the Retro and Classic Car Club of Barbados.
Sponsored by Sagicor General Insurance, and staged at their Haggatt Hall base over the Easter weekend, the event attracted over 50 vehicles and hundreds of spectators.
At the end, Peter Harrison drove away with the top prize for his sleek looking 1977 Clubman station-wagon. A 1981 BMW 7 series, owned by Fred Thurman, was also voted Best Original Car.
Executives of Sagicor General Insurance and representatives of classic car clubs have been in discussion on insurance products to cover these assets and a new product is expected to be rolled out over the next month.
Assistant vice-president of marketing at Sagicor General Insurance, Roger Spencer, said the plan was specifically for vehicles from the year 2000 and older.
“It’s a policy that is not yet available on the island and we understand the needs of the classic car owners. These are treasures of Barbados that need to be taken care of and Sagicor General will take on that challenge,” he said.
British company Hagerty, which specialises in insurance for classic cars recently issued its March market rating. It showed that the classic car market was up 0.05 per cent for March. This followed record sales at classic car auctions on Amelia Island and Kansas City.
“Following its biggest month-over-month decline since 2009, the Hagerty Market Rating stabilised in March in large part due to strength in public auction activity,” said McKeel Hagerty, chief executive of the classic car insurance and vehicle valuation company, in a news release.
Hagerty also reported that requests from clients for insured value increases have fallen, both for the broad market and for high-end cars. (SC/PR)
