Is Hagerty Insurance Good for Classic Car Owners

Hagerty Insurance is a well-known name in the classic car community, and for good reason. It offers a range of insurance options specifically designed for classic car owners.

One of the standout features of Hagerty Insurance is its ability to provide coverage for classic cars at a lower cost than traditional insurance policies. This is largely due to the company's specialized knowledge of classic cars and its focus on providing coverage for vehicles that are not driven daily.

Hagerty Insurance also offers a unique coverage option called "Agreed Value" which ensures that your classic car is insured for its actual value, rather than its market value. This is a big plus for classic car owners who want to protect their investment.

Hagerty's claims process is also designed to be hassle-free and efficient, with a team of experts who understand the value of classic cars.

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Hagerty Insurance is a specialty insurance provider that focuses on classic and collectible vehicles. They were founded in 1984 by Robert Hagerty.

Their business model is built around understanding the unique needs of car enthusiasts. Hagerty's team includes experts who are passionate about classic cars and understand the value of these vehicles.

Hagerty offers a range of insurance products, including classic car insurance, collector car insurance, and vintage motorcycle insurance. These products are designed to protect the financial investment of car owners.

Their insurance policies often include features such as agreed value coverage, which ensures that the vehicle is insured for its actual value. Hagerty also offers a claims service that is designed to be hassle-free and efficient.

Hagerty has received numerous awards and recognitions for their insurance products and services. They have been named one of the "Best Places to Work" by the Detroit Free Press.

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Hagerty insurance has its pros and cons. Hagerty offers personalized coverage, attractive premiums, flexible policies, and full reimbursement if your car gets totaled. Their policies are also affordable, often lower than average rates.

One of the downsides is that Hagerty doesn't offer many discounts. In fact, they have very few discounts available. Customer service may also vary depending on the state you're in.

Hagerty's policies do have some restrictions, such as not covering everyday driving. You'll need a separate policy for your regular-use vehicle. Additionally, Hagerty's coverage is not available in all states, so be sure to check if they're available in your area.

Here are some of the key pros and cons of Hagerty insurance:

Hagerty also offers some unique benefits, such as guaranteed replacement value and occasional pleasure use with no fixed mileage limits. However, these benefits come with some strings attached, such as agreeing to use your vehicle for limited purposes.

Hagerty insurance is known for its competitive pricing, with some notable savings to be had. Hagerty claims that its collector car policies are 39% less expensive than regular car insurance policies.

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The cost of Hagerty auto insurance varies depending on several factors, including your age, the type of vehicle you own, and your location. Hagerty's monthly premiums start at $100, but prices can vary by state.

According to Hagerty, its insurance premiums are, on average, 36% lower than daily-driver auto insurance, with an average savings of $264. This is a significant amount of money that could be put towards other expenses or saved for a rainy day.

Here are some key factors that affect Hagerty insurance rates:

Guaranteed Value is a type of insurance coverage that's specifically designed for classic car owners.

You can get a total refund of your car's agreed-upon value without depreciation if it becomes a total loss due to a covered incident.

Hagerty's Guaranteed Value policy includes coverage for tools that can help your vehicle run smoothly, with up to $750 in comprehensive coverage.

Their 24/7 roadside assistance program, Hagerty Drivers Club, offers a range of services, including battery jumpstarts and emergency fuel delivery.

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In the event of a covered total loss, you receive every cent of your classic car's insured value, with no depreciation or hassle.

Here are the key benefits of Hagerty's Guaranteed Value policy:

An agreed value policy, like Hagerty's Guaranteed Value, guarantees that you'll receive the full insured amount of your vehicle in the event of a covered total loss, with no depreciation.

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Hagerty claims that its collector car policies are 39% less expensive than regular car insurance policies.

Monthly premiums start at $100, but prices vary by state. Your age, the type of car you own, your location, type of coverage, and deductible all play a role in determining your car insurance rates.

Becoming a Hagerty Driver's Club member can add an extra $45 per year to your premium, but it comes with perks like member-only events and magazine subscriptions.

On average, Hagerty premiums are 36% lower than daily-driver auto insurance, with an average savings of $264.

To get a customized quote from Hagerty, you'll need to provide some basic information about your vehicle and personal details.

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Hagerty has received mixed reviews over the years, with many vintage car owners leaving excellent feedback.

Some customers have reported a lack of communication from company representatives when they had to repair their car, while others were made to pay out the claim.

However, positive reviews highlight helpful customer service from Hagerty agents.

Hagerty is generally well-rated among classic and collectible vehicle owners.

The company has an A+ rating with the Better Business Bureau, with only seven complaints closed in the last three years.

Online review websites are generally favorable towards Hagerty, with most customers giving the company good ratings for customer service, claims satisfaction, and pricing.

A few customers have reported being unhappy that the company doesn’t cover lowriders or modified cars.

Despite minor complaints with claims processing and other issues, most Hagerty policyholders are satisfied with the company.

Hagerty has maintained an A+ rating with A.M. Best since 2013, showing the company is in a strong position to cover its liabilities and claims.

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Classic Vehicle Insurance is a specialized coverage that Hagerty offers, and it's worth understanding how it differs from regular car insurance. Hagerty's classic vehicle insurance offers a 27% lower premium on average compared to daily driver insurance.

The key benefit of Hagerty's classic vehicle insurance is its "agreed value" coverage, which means you tell them the value of your classic car and they guarantee to pay that amount in the event of a total loss. This is different from regular car insurance, which may depreciate the value of your vehicle in the event of a claim.

Hagerty's classic vehicle insurance also allows for flexible usage, so you can drive your classic car for occasional pleasure use without worrying about mileage and usage restrictions. However, it's essential to note that occasional pleasure use does not mean use for daily driving to and from work or school, routine shopping, etc.

Here are the types of vehicles that Hagerty insures:

It's also worth noting that Hagerty's classic vehicle insurance has certain limitations on how you can use coverage, such as not being able to use the vehicle for daily driving and needing to keep it in a garage or storage unit.

Hagerty insurance has been accused of denying claims without good reason. One person reported their 2020 Lamborghini claim was denied because the driver's phone number was linked to a rental car business.

They claimed there was no good reason for the denial. The person is now planning to file a class action lawsuit against Hagerty.

Hagerty has also been accused of being rude and nasty to customers. A person with a Maserati reported being accused of hitting a building or a pole, despite no such incident occurring.

They claim their insurance was cancelled as a result. This person is also seeking a lawyer to help resolve the issue.

Hagerty's handling of claims has been questioned. One person reported being denied a claim for a Lamborghini with no explanation.

They are now gathering evidence to support a class action lawsuit.

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Hagerty insurance has certain eligibility requirements and restrictions that you should be aware of before purchasing a policy.

To qualify for Hagerty car insurance, you must not use your classic car for daily commuting or similar tasks. This means you can't drive your classic car to and from school, work, or other daily activities.

You can, however, use your classic car for occasional pleasure driving, such as club functions, exhibitions, tours, organized meetings, and the like.

Here are some types of vehicles that aren't eligible for Hagerty car insurance:

Additionally, drivers with excessive speed violations, reckless driving citations, or other moving violations, as well as drivers with one or more alcohol-related offenses, may not be eligible for Hagerty car insurance.

If you're considering Hagerty's classic car insurance, it's essential to know what types of vehicles aren't eligible.

Hagerty doesn't insure vehicles that are driven every day for normal purposes. This means if you use your classic car as your daily commuter vehicle, you won't qualify for their insurance.

Commercial use or business use vehicles are also not eligible for Hagerty's insurance. This includes vehicles used for work or to transport goods.

Camping, off-road, or utility-type vehicles are not covered by Hagerty's insurance. This includes vehicles designed for rugged terrain or hauling heavy loads.

Motorcycles with performance modifications are also not eligible for Hagerty's insurance. This includes bikes with after-market parts or engines.

Vehicles with nitrous components or other similar modifications are not covered by Hagerty's insurance. This includes cars with high-performance upgrades.

Dune buggies are another type of vehicle that Hagerty doesn't insure. If you own a classic dune buggy, you'll need to look elsewhere for insurance.

Here are the types of vehicles that Hagerty doesn't insure:

If you're interested in Hagerty car insurance, you'll want to know who's eligible. Drivers with excessive speed violations, reckless driving citations, or other moving violations may not be eligible for Hagerty car insurance.

Some drivers with alcohol-related offenses may also be excluded.

If you plan to use your classic car for business purposes or daily commuting, you're likely not eligible for Hagerty car insurance.

However, it's worth noting that some drivers may still qualify even if they fall into one of these categories.