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Hagerty 2019 Classic Car Insurance Review: Rates, Claims Satisfaction, and Coverage

Hagerty Classic Car Insurance advertises itself as the car insurance company for people who love cars. They have been in business since 1991 and their expertise is in valuing and providing insurance coverage for collector and classic vehicles. Hagerty insures over $19 billion worth of transportation vessels. They partner with the following insurance companies who underwrite their policies including Nationwide and Essentia Insurance. Both these companies have an A.M. Best rating of A (excellent) or higher. This means that the company has excellent financial strength. Hagerty, however, is not accredited by the Better Business Bureau.

The company claims to offer lower rates than traditional auto insurance companies, up to 39% lower according to its website.  Furthermore, Hagerty guarantees your car’s value, and has flexible usage limits. Moreover, the company has its own in-house claims experts to repair your classic car. Hagerty offers a form of coverage called Vehicle Under Construction Coverage which is a unique offering for cars which are being restored.

>>MORE: Find the Best Car Insurance for Classic Cars

Types of Vehicles Hagerty Insures

Hagerty insures antique and classic cars as well as newer vehicles, classic trucks, SUVs, vintage motorcycles and scooters, boats, motorsports, modified vehicles, antique tractors, historic military vehicles, and retired commercial vehicles.  However, they do not insure daily use vehicles, commercial use vehicles, or off-road vehicles. Hagerty requires that the insured vehicles be stored in a private, enclosed and secure location.

Driver Eligibility

In most states, Hagerty does not insure drivers who have had a serious driving infraction such as a DUI, excessive speeding or reckless driving within the last 3 years.

What Does Hagerty Collector and Classic Car Insurance Offer

Guaranteed Value Coverage

Hagerty offers guaranteed value coverage. They use industry leading valuation tools to determine the value of your car. If your classic car is totaled, you get the full insured value with no depreciation and no hassle. The company even has a valuation tool on their website to help you determine the appropriate value of your classic vehicle and the cost to insure it.

Flexible Usage

The company does not have fixed mileage restrictions for occasional driving of the insured vehicle.  Thus, you can take your classic car out for a weekend drive without worrying about exceeding your mileage limit.

Expert Claims Handling

Hagerty has its own in-house specialists who will find the right replacement parts for your vehicle if it needs to be repaired.

Vehicle Under Construction Coverage

The Vehicle Under Construction (VUC) coverage is unique to Hagerty Insurance. Most of the other classic car insurance companies only offer coverage once your vehicle is completely restored. If you are in the process of restoring your vehicle, you can add this coverage on for an additional cost of $20 per vehicle. The insured value of your car goes up by 10% automatically each per quarter. There is a maximum increase of $25,000 reflecting the increase in the value of your car as the restoration progresses. This coverage also includes $750 worth in coverage of your automotive tools and access to member assisted towing to get your car back and forth from the shop.

Getting A Quote from Hagerty Insurance

It is easy to get a quote from Hagerty Insurance.  Simply go to the company’s website and enter your zip code in the box beside ‘Quote Now.’  Next, select your vehicle type, year, make and model of the car along with the submodel and body type.  To continue toward receiving a quote, you must then enter your vehicle’s value. You also need to know where the vehicle has undergone any modifications.

If you have any difficulty or need to speak with someone from Hagerty while trying to receive your online quote, you can simply open the chat box at the bottom right corner of the page or you can contact the company at 800-747-5348.

Website Experience

Hagerty has a well-developed, easy to navigate website.  On the website you can get a quote, manage your account, pay your bill, view your statement, get an ID card, get your car’s value and more.  You can also join its Driver’s Club and access upcoming events.

Other Types of Insurance and Services that Hagerty Offers

Hagerty does not solely offer classic cars insurance.  The company also offers business insurance. The types of business insurance that Hagerty offers includes insurance for classic car restorers and rebuilders, museums, dealerships, storage facilities, and car clubs.

Hagerty has a Driver’s Club as well.  For $45 a year, you can sign up for this club which boasts that it offers the ultimate experience for people who love cars.  When you become a member, you can enjoy member only events and experiences, get six issues a year of Hagerty magazine, and get exclusive automotive discounts.  With the membership, you also get covered by the company’s roadside service program which covers classic cars and give you 15 miles per tow. Additionally, this service charges $50 per lockout, battery jump, and more.   

Hagerty also has a Youth Program to get young people interested in antique and classic cars.

Hagerty also offers DriverShare.  This is a program by which you can rent a classic car at a set rate per day.  They have cars available for you to drive as well as some available for you by chauffeur, and some which you can book for special events.  

The Bottom Line

If you own a classic car, you may want to consider obtaining classic car insurance from one of the best classic car insurance specialists such as Hagerty. Hagerty’s classic car insurance offers lower premiums than the traditional car insurance company. The primary reason is because Hagerty does not insure daily use vehicles.  Thus, insuring your classic or antique car through Hagerty can save you as much as 39% off of a regular car insurance premium. Hagerty does not have a fixed mileage limit for occasionally driving your classic car. Furthermore, Hagerty will cover your car at its guaranteed value. If the car is totaled, you are entitled to the full amount without any depreciation.

The main draw that Hagerty offers over other classic car insurance companies is the coverage on vehicles that are currently being restored. They also have a Driver’s Club that has a form of roadside assistance for your classic car.  The club also has a network of individuals who are into classic cars. Moreover, the club has special events of which you can participate with your classic car.  The Driver’s Club also has youth programs to get youth into classic cars. Classic car enthusiasts can even drive a variety of classic cars for rent in their area through Hagerty’s DriveShare Program.

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