Hagerty Auto Insurance Review for 2024

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Tim Bain

Licensed Insurance Agent

Tim Bain is a licensed insurance agent with 23 years of experience helping people protect their families and businesses with the best insurance coverage to meet their needs.  His insurance expertise has been featured in several publications, including Investopedia and eFinancial. He also does digital marking and analysis for KPS/3, a communications and marking firm located in Nevada. 

Licensed Insurance Agent

Brad Larson

Licensed Insurance Agent

Brad Larson has been in the insurance industry for over 16 years. He specializes in helping clients navigate the claims process, with a particular emphasis on coverage analysis. He received his bachelor’s degree from the University of Utah in Political Science. He also holds an Associate in Claims (AIC) and Associate in General Insurance (AINS) designations, as well as a Utah Property and Casual...

Licensed Insurance Agent

UPDATED: Jan 4, 2024

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Not all automotive insurance agencies try to cast a wide net and sell coverage to as many vehicles (and customers) as possible. Companies like Hagerty, for example, instead choose to carve out a niche market for themselves and their favorite hobby: the collection of classic vehicles by land or by sea. Despite being a global leader in underwriting insurance policies for classic cars (read our “Auto Insurance for Classic Cars” for more information), motorcycles, and boats, they still maintain that they are “just a family business built on a love for the hobby”.

Hagerty Insurance Review

If you’re in the market for insurance coverage on a classic car, then you are probably more concerned than most with how well the company is rated on several different levels. Unfortunately, there isn’t much information about Hagerty out there. They have no official rating by either AM Best, a financial strength rating agency, or the BBB. Lastly, their customer reviews on Yelp are almost consistently negative going back as far as 2014.

Ratings Agency Rating
Better Business Bureau No Rating
AM Best No Rating
Yelp 1.5/5 Stars

Hagerty Insurance Discounts

It does not appear as though Hagerty is big on the idea of offering its customers any sort of discount on their classic car insurance policies. They instead assure their customers that their knowledge of the classic car market gives them the opportunity to offer “better collector car insurance coverage for less”. However, it isn’t uncommon for policy details, such as discounts, to differ from one state to another. At the very least, you should ask one of their insurance agents about Multi-Car discounts; after all, it isn’t much of a classic car collection if you’re only insuring one vehicle.

Hagerty Auto Insurance Options

What Hagerty lacks in discounts, it more than makes up for in unique coverage options for classic vehicles and their associated accessories. Classic cars have very special insurance needs, beyond that of your standard Liability/Comprehensive/PIP coverage options. For this reason, Hagerty offers coverages which most companies don’t, such as:

  • Guaranteed Value Coverage – the policy holder will receive the full value of their insured vehicle in the event of a covered total loss
  • Flexible Usage – classic vehicles with this coverage can be driven without having to adhere to fixed mileage restrictions (excludes daily driving, commutes to/from work/school, and routine shopping)
  • Hagerty Plus Roadside Service and Benefits – 24/7 comprehensive, full-service roadside assistance which guarantees lockout services, battery jumps, tire changes, emergency fuel delivery, and flatbed towing with soft straps (among many other options)
  • Expert Claims Handling – Hagerty keeps experts on their payroll who specialize in acquiring rare, hard-to-find stock parts for your vehicle in the event of damages or needed replacements
  • Instant New Purchase Coverage – Get up to $50,000 of coverage for thirty days when you purchase a new collectible car
  • Spare Parts Coverage – $750 of comprehensive coverage for your insured vehicle’s spare parts
  • Auto Show Medical Reimbursement – Up to $10,000 in medical payments if you or your family members are injured during an auto show or other car-related function
  • Classic Car Construction/Restoration Coverage – for car collectors who are building or restoring a classic car
  • Travelling Collector Endorsement – protects your classic car while you travel with it
  • Automobilia Coverage – provides financial protection for antique gas pumps, tin signs, model cars and more
  • Spare Parts and Tools Coverage – financially protects car parts which are not attached to a vehicle and/or special tools used to work on classic cars
  • Cherished Value – allows classic car owners to keep possession of their classic vehicle in the event of a total loss accident while also receiving the vehicle’s full Guaranteed Value Coverage benefit
  • Evacuation Expense Coverage – pays for 50% of expenses associated with moving your classic car out of areas targeted by natural disasters
  • Surety Bonds – includes the provision of Lost or Defective Title Bonds, and/or Dealer Bonds

Comparing Hagerty Insurance Quotes

In the chart below, you can see what typical drivers might expect to pay to comprehensively insure a modern vehicle across different parts of the country:

Average Auto Insurance Quote ComparisonLegend: Allstate State Farm Mercury Average Rate Illinois AverageCalifornia AverageTexas AverageFlorida AverageNew York Average 50100150200250300350$52$34$89$34$146$139$88$64$71$89$260$105$147$230$353$126$72$93$231$93

Illinois Average
California Average
Texas Average
Florida Average
New York Average







Now, it may seem strange to compare these prices to those of the premiums on a classic car (or a collection of classic cars). However, Hagerty takes pride in being able to offer affordable classic car insurance to is clients. They even brag on their website that because they only insure antiques and collectables, they can offer better coverage at a lower price than daily driver insurance providers. Keeping the chart above at hand can help you verify whether or not the claim is true in the event that you receive a quote from Hagerty.

Pros and Cons of Hagerty Insurance

Pro Con
One of the largest global providers of classic and antique vehicle insurance They don’t insure modern cars or antique/collectable cars that are driven for daily tasks
Offers some of the lowest premiums on classic and antique car insurance in their niche market Dozens of customer complaints on Yelp expressing extreme dissatisfaction with their service

Clearly, Hagerty takes great pride in their classic car coverage options, their passion for antique vehicles, the global scope of the business, and their ability to underbid the competition. However, if the angry customer reviews on Yelp are to be believed, the unpleasant claims processing experience may not be worth the money they save on lower premiums and fancy coverages. To know for sure, however, you’ll have to use our handy quote generator to compare Hagerty with similar classic car insurance companies near you.

Company Headquarters
141 River’s Edge Drive #200
Traverse City, Michigan 49684

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