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OpenRoad Insurance expands specialty coverage to 40 U.S. states

The collector-vehicle insurer added New York, New Hampshire, Vermont, North Carolina, and Delaware, and said it plans to move toward 48 continental states.

Reported · Written up by our desk · Industry & Deals

OpenRoad Insurance, a specialty insurer for classic and collector vehicles, said it is now licensed in 40 U.S. states, up from 35 since March. The company added New York, New Hampshire, Vermont, North Carolina, and Delaware to its coverage footprint, according to Insurance Journal.

Launched two years ago, OpenRoad operates as a collector vehicle specialty insurer and said its focus is designed to keep overhead low while maintaining competitive pricing. Texas remains its largest state by insured volume, the outlet reported.

The insurer’s policies include agreed-value coverage, where OpenRoad and the policyholder agree on a vehicle’s value when the policy is written, with total losses paid at the predetermined amount rather than a depreciated market value. The company also said policyholders can revise their agreed value at any time, and that coverage options include items such as emergency evacuation expenses, tools and spare parts, and coverage for vehicles under construction.

OpenRoad said eligibility centers on vehicle use. Vehicles from 1989 or earlier are broadly eligible, while newer vehicles are evaluated for enthusiast traits and usage patterns, and the company said it is targeting expansion into 48 continental states.

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