Hagerty Insurance Company Review 2026: Coverage, Eligibility, Pros and Cons
A standard car insurer looks at a 1967 Mustang and sees an old car that loses value every year. An owner sees the opposite. That gap is the reason specialist insurers exist, and Hagerty is the best known of them in the United States.
This guide to Hagerty Insurance Company covers who the company is, what its policies include, who qualifies and where it falls short.
TolyGPT is not affiliated with Hagerty. This article is general information, not insurance advice. Coverage and prices vary by state and by vehicle.
Hagerty at a Glance
| Detail | Information |
|---|---|
| Founded | Mid-1980s, by Frank and Louise Hagerty |
| Headquarters | Traverse City, Michigan |
| Specialty | Classic, collector and enthusiast vehicles |
| Stock listing | New York Stock Exchange, ticker HGTY |
| Signature feature | Guaranteed Value coverage |
| Membership | Hagerty Drivers Club |
What Is Hagerty Insurance Company?
Hagerty began as a small agency that insured wooden boats and later moved into classic cars. Today it is a specialty insurance provider and an automotive lifestyle brand with a magazine, valuation tools, events and a members club.
Policies are sold and serviced by Hagerty Insurance Agency. They are underwritten by partner insurance carriers, which Hagerty lists on the disclosures page of its website. The company became publicly traded in December 2021.
What Does Hagerty Cover?
- Classic and collector cars
- Modified vehicles and restomods
- Classic trucks, Jeeps and SUVs
- Motorcycles and scooters
- Vintage trailers and campers
- Military vehicles and classic tractors
- Classic boats
- Spare parts, tools and automobilia such as signs and posters
How Guaranteed Value Works
Most everyday auto policies pay “actual cash value”, which is the market value minus depreciation. Hagerty uses a different model called Guaranteed Value.
You and Hagerty agree on what the car is worth when the policy starts. If the car is a covered total loss, Hagerty pays that full agreed amount, with no depreciation taken off.
| Feature | Guaranteed Value | Actual cash value |
|---|---|---|
| Value set | At the start of the policy | After the loss |
| Depreciation | Not applied | Applied |
| Best for | Cars that hold or gain value | Daily drivers |
Other Notable Features
- Vehicle Under Construction. For restoration projects. The Guaranteed Value rises by 10% each quarter, up to $25,000, and tools are covered up to $750.
- Cherished Salvage. After a covered total loss, you can keep the vehicle and still receive the full payout.
- Roadside assistance. Available through Hagerty Drivers Club, with flatbed towing suited to collector cars.
- Motorsports coverage. Options exist for track days and racing.
Who Qualifies?
Hagerty policies are built for vehicles that are “driven less and loved more”. The usual expectations are:
- The vehicle is used for pleasure drives, club events, tours and shows.
- It is not used for daily commuting to work or school, or for routine errands.
- Each driver in the household has a regular vehicle for everyday use.
- The vehicle is stored securely, normally in a locked garage.
- Drivers have a reasonably clean record.
Exact rules differ by state and vehicle. Hagerty has a qualification page on its website, and an agent can confirm your case.
How Much Does Hagerty Cost?
Hagerty does not publish average rates. You need a quote. Premiums are often lower than a standard policy on the same car, because collector vehicles are driven less and cared for more.
Your price depends on the agreed value, where you live, storage, your driving record and how you use the car.
Pros and Cons
| Pros | Cons |
|---|---|
| Guaranteed Value with no depreciation | Not for daily drivers |
| Covers a very wide range of vehicles | Storage and usage rules apply |
| Claims staff who know classic cars | Few discounts |
| Restoration and salvage options | No public price list |
| Large enthusiast community | Some customer complaints about towing service |
One independent review lists an AM Best financial strength rating of A- for Hagerty’s insurance operations. Check the current rating before you buy, because ratings are updated.
How to Get a Quote
- Gather the year, make, model and VIN of the vehicle.
- Take clear photos, and collect receipts or appraisals that support its value.
- Request a quote on Hagerty’s website or through an independent agent.
- Agree on the Guaranteed Value.
- Review the usage and storage terms before you pay.
Frequently Asked Questions
Is Hagerty a real insurance company?
Yes. Hagerty is an established specialty insurance provider based in Traverse City, Michigan, and it is listed on the New York Stock Exchange under the ticker HGTY. Policies are administered by Hagerty Insurance Agency and underwritten by partner carriers.
Can I insure a daily driver with Hagerty?
Generally no. Hagerty policies are designed for collector vehicles used for pleasure, not for commuting or everyday errands. You are expected to have another vehicle for regular use.
Does Hagerty have a mileage limit?
Hagerty promotes flexible usage instead of a single fixed limit, but terms depend on the policy and state. Confirm the details in your own quote.
What is Hagerty Drivers Club?
It is Hagerty’s paid membership program. Members get roadside assistance for collector vehicles, the Hagerty magazine, valuation tools, event access and partner discounts.
Final Thoughts
Hagerty Insurance Company is a strong fit if you own a classic or collector vehicle that you drive for enjoyment. Guaranteed Value coverage is the main reason to choose it.
It is the wrong fit for a car you rely on every day. Get a quote, compare it with at least one other specialist insurer and read the usage terms carefully.
