The COVID-19 pandemic has been a boon for road trippers as more travelers opt to hit the highways to get to their destinations. And what could be better than traveling cross-country in a dream classic car? An October 2020 survey by Hagerty, a specialty insurance provider for enthusiast vehicles, found that interest in classic and collector vehicles has risen amongst millennials and Gen Zers within the past year. The survey also found that millennials are more likely to currently own a classic or collector vehicle than their parents or grandparents, with another 57% of millennials reporting interest in owning one in the future. To help guide prospective owners who want to find, buy, and drive a cool vehicle they love, Hagerty recently released its 2021 Bull Market List, which highlights the vehicles expected to gain the most value over the next 12 months. The annual list is compiled using proprietary data from Hagerty Valuation Tools that provide valuations for classic and contemporary cars "The Bull Market list is designed to give people a heads up on vehicles to buy now before they become less affordable," Brian Rabold, Hagerty's vice president of valuation services and head of the team that selects vehicles for the annual Bull Market list, said in a statement. Find out which cars made it on Hagerty's 2021 Bull Markets list by scanning through the above slideshow. The estimated values shown are for vehicles in excellent but not perfect condition. |

Insuring dream cars

Insurance coverage for classic or collector cars offers unique benefits not found in conventional policies and is generally more affordable than traditional auto insurance. Although there are varying definitions of a 'classic car,' the Insurance Information Institute (Triple-I) lists a few vehicles that will likely qualify for such coverage, including antique and classic cars at least 25 to 30 years old; hotrods and modified vehicles; exotic and luxury autos; muscles cars; and classic trucks, SUVs and motorcycles. Contrary to what many consumers believe, a car's age is not enough to qualify for specialty classic car insurance, according to the Triple-I. Other factors, including limited use, storage, driving record, and whether the car is used in shows or meetings, are also factors used to qualify for coverage. A car's value is also a critical element when procuring classic car insurance. "Because each car's condition is unique, there is no set 'book value' for specific makes and models," says the Triple-I. "The first step in insuring your classic car is for you and your insurer to reach an agreement on the value of the vehicle. This value will be specified in your policy, and your car will be covered up to that value without depreciation." Related: |

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