Like so many other corporations over the years, Hagerty Insurance started out as a small family business with a passion and a vision that led them to the place where they are now, the largest insurers of collectible cars in the United States. However, Hagerty Insurance also has coverage for collectible and vintage automobiles and has operations in both Canada and the UK.
In the beginning, Louise and Frank Hagerty owned and operated the Hagerty Insurance Agency in Traverse City, Michigan. But as collectors of wooden boats, they soon realized there just wasn’t sufficient coverage to meet their needs. The year was 1983. With fortuitous insight, the Hagertys launched an ‘agreed value insurance policy’ for collectible boats and soon had a good percentage of the nation’s vintage boats insured by their company. By 1991 they expanded to cover vintage automobiles which led them to the place where they are today.
Some Interesting Facts and Insights
If you are the owner of a collectible or vintage boat or automobile, there are some really interesting benefits to carrying Hagerty Insurance. Here are just a few of the interesting facts and insights into a Hagerty policy:
- Low premiums, deductible options, flexible usage, repair shop of choice
- Total loss – Guaranteed value coverage without depreciation
- More than 25 years experience in specialty vehicles and boats
- Largest insurer of collectible vehicles and boats worldwide
- Instant online quotes
- Online claims service
- Underwritten by Beacon Insurance Group – one of oldest underwriters in nation
- Major supporter of classic car hobby
Because of Hagerty’s passion for classic and vintage automobiles and boats, the best coverages possible will be offered so that customers will have the protection they need.
Qualification Limits for Automobiles
While Hagerty Insurance is the largest insurer of collectible automobiles, there are some basic exclusions. For example, if you have a collectible vehicle that is driven regularly, you wouldn’t find coverage with Hagerty. Their insurance specifically has the following requirements:
- Limited usage – i.e. to and from exhibitions, organizations and club events
- Storage – must be kept in closed secure structure when not being operated
- Driving history – minor infractions ok, not eligible with major infractions within 5 previous years
Because this is a very specific type of insurance for collectible vehicles for ‘show’ and hobbyists, collectibles that are regularly driven would need to be covered under your regular automobile insurance policy by endorsement if available.
Some Added ‘Perks’ with Hagerty Plus
When you purchase a Hagerty Plus Roadside Assistance policy there are some added benefits included, the best of which is 24/7 roadside assistance for emergencies anywhere in Canada and the United States. Members of Hagerty Plus also receive Hagerty Magazine, a membership discount to certain products, Concierge Services with “Ask Hagerty,” and Information Resources for hobbyists. Hagerty Plus also supports the collector car hobby through a number of advocacy groups and part of membership supports the Collector’s Foundation.
It boils down to whether or not you will be using your vehicle for anything other than hobby related usage. If you have a collector vehicle or vintage boat that you don’t use regularly, with a good driving history, then chances are you will qualify to get the best coverage available for a collectible. The insurance was launched with the collector in mind, with very specific needs for coverage. To find an agent near you it is simply a matter of doing a quick online search. Because you take pride in your vehicle, you will want the best insurance on the market to protect against damage or total loss with guaranteed value coverage that Hagerty Insurance provides. There isn’t another company that can top that.