Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate drivers about...

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Reviewed by Laura Walker
Licensed Agent for 10 Years

UPDATED: May 6, 2019

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If you’re the owner of an antique collector automobile or boat, then there’s a good chance you’ve heard of Hagerty Insurance.

Although many mainstream auto insurance companies offer collector car insurance, Hagerty is one of the few companies in America that specializes primarily in this type of insurance.

If you’re looking to purchase insurance for your collector car for the first time, or just thinking of switching to a new insurer, you should read this article to get helpful details about collector car insurance coverage from Hagerty Insurance.

Then, don’t forget to enter your zip code in the box to get personalized car insurance quotes.

About Hagerty Insurance

Hagerty Insurance was founded in 1983 as an insurance company specializing in collector boats, but it quickly expanded to include insurance for collector autos as well. Now, this Michigan-based family business is one of the foremost insurers of classic autos and boats in the world.

As evidence of its achievements in customer service, community involvement and commitment to employees, Hagerty Insurance points to awards from Traverse City Business News and Athena International, an organization for female businesswomen.

Hagerty Insurance also won the Better Business Bureau’s “Business of the Year” award for the Northern Michigan region, and was a finalist for the Wall Street Journal’s “Best Places to Work Award” in the small business category.

The Traverse City Chamber of Commerce even named its annual award for best local business after Hagerty Insurance.

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Car Insurance Coverage from Hagerty Insurance

Hagerty Insurance prides itself on knowing and understanding the classic car insurance and boat market, and providing customized service that reflects this knowledge.

Recognizing that classic cars are driven far less than everyday vehicles, Hagerty Insurance offers significantly lower premiums for classic cars than consumers typically pay for their other vehicles.

Another feature that distinguishes Hagerty Insurance from mainstream insurance companies is the “Guaranteed Value” coverage that it provides.

Hagerty understands that the loss of a collector car is very different from the loss of other vehicles, and that such cars are often considered irreplaceable by their owners.

In deference to the unique value offered by collectors cars, the owner and the company settle on an “agreed value” for which the car is insured, and this is the amount the owner will receive if the vehicle is totaled.

Hagerty does not offer “stated value” or “actual value” reimbursement policies that reflect your vehicle’s depreciation.

Since parts and repairs for classic cars are also different from those of everyday vehicles, Hagerty Insurance has specialists on hand to help you find those hard-to-get replacement parts, and allows you to select any repair shop you choose.

Hagerty will also pay you for labor costs to repair damages to your vehicle yourself. You can also customize your Hagerty car insurance policy with added coverage for:

  • Spare parts and tools that you keep on hand
  • Automotive collectibles like vintage license plates and hood ornaments
  • Business use of your vehicle (photo shoots, weddings, etc.)
  • Vehicles that are under construction
  • Vehicles that travel frequently

Qualifying for a Policy with Hagerty Insurance

Since Hagerty Insurance does not offer a traditional auto insurance product, they do not offer the same types of car insurance discounts that apply to policies covering everyday use vehicles.

However, as a Hagerty Plus Member, you can receive discounts on products and services commonly used by collector auto owners.

In order to qualify for a collector car insurance policy with Hagerty, you and your family members must meet the following requirements:

  • Your vehicle must be for limited use only (exhibitions, club functions, pleasure cruising, etc.)
  • Your vehicle must be stored indoors when not in use
  • All members of your household who have driver’s licenses must possess a regular-use vehicle
  • You and your family members must have clean driving records without serious infractions during the past five years

Hagerty Auto Insurance Ratings

While Hagerty Insurance is too small to be rated by large consumer agencies like J.D. Power and Associates, the company has an A+ rating from the Better Business Bureau, which it earned due to its low complaint volume and successful resolution of three complaints against it.

Hagerty car insurance policies are underwritten by several different companies, all of which hold an A.M. Best rating of at least “A” for financial strength.

The company is licensed to operate in all 50 states, as well as some parts of the UK and Canada. For more detailed insurance rate estimates always contact the Hagerty insurance direct about your car insurance needs.

Collector car insurance is very unique and there is even collector car insurance for a Corvette and many other common cars. You don’t need a 1957 Chevy to take advantage of collector car insurance.

The Hagerty Insurance Group is the most well-known company in collector car insurance coverage but there are also many other companies that provide affordable insurance for owners of collector cars.

Don’t forget to shop around and compare at least a handful of auto insurance providers before selecting a company.

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