Cherry Hill, N.J.-based American Collectors Insurance has a new program with lower rates for street rods, custom cars and modified vehicles, including “resto-mods” and “resto-rods,” the company said.

The new specialty program eliminates mileage restrictions in most states, making it even more attractive for hobbyists to buy collector-vehicle coverage from American Collectors, the company said. The new program is available nationwide through independent agents and brokers. The coverage is underwritten by member companies of Assurant Solutions.

“Car collectors are making street rods, custom cars and modified cars more popular than ever, and this new collector-vehicle insurance program is designed especially for them,” explained Laura Bergan, vice president of marketing for American Collectors Insurance.

A growing number of car lovers are taking stock versions of classic cars to restore or enhance. Restoration of classic cars is booming, with retail sales of restoration products increasing by 81% from 1996 to 2006, according to the Specialty Equipment Market Association (SEMA), with the average household income of modified-car owners was more than $96,000, more than 2.5 times the national per capita income.

American Collectors Insurance provides collector-vehicle and collectibles insurance. Licensed in 50 states, American Collectors offers products through independent insurance agents, in partnership with several major insurance organizations, and direct to consumers.