Hagerty Insurance Review & Complaints: Auto, Boat & Business Insurance (2023)

Covering the specialty markets of collector vehicles, classic car insurance, boat, and motorcycle owners, Hagerty is one of the best-known names for automotive enthusiasts in their particular premium niche. The company offers a range of premium products designed to cover the specific needs of vehicles that do not fit into the standard insurance market.

What is Hagerty Insurance?

Hagerty was founded in 1984 to provide specialty coverage to vintage boat owners. In 1991, they expanded into the classic car insurance market. Originally offering specialized coverage only in the U.S., Hagerty became an international insurer in 2006 when they opened offices in the U.K., and then in Canada in 2009.

Hagerty Canada, LLC policies are underwritten by Elite Insurance Company, however, Hagerty determines final risk acceptance.

The company’s commitment to the classic auto insurance market includes support for hobbyists and a magazine that the company publishes. They also offer assistance with valuing classic cars and publish a market value guide.

Hagerty sells products online via an application process on its website, as well as through a network of independent agents. Numerous insurance companies partner with Hagerty in order to assist their clients with obtaining specialty insurance.

Hagerty products today include their popular collector car insurance coverage, boat insurance, motorcycle, and other motorsports, and classic auto insurance coverage for other classic vehicles.

The company is based in Traverse City, Michigan. They continue to be run by the family that founded the company and sponsor a number of programs to give back to the community, including Youth Programs.

What types of insurance products are offered?

Although they began as a boat insurer, Hagerty’s flagship product is their carefully designed classic car policy. They also offer a variety of other specialty products for many different vehicles.

Does the company offer classic car insurance?

Hagerty writes insurance products for a variety of cars, including classic and collector cars. These policies are designed for vehicles that do not fit the requirements for standard auto policies. This generally means that they are not used as daily drivers, among other restrictions, and some may be classified as exotic vehicles. However, Hagerty offers some key benefits – with a daily driver insurance policy, your classic car may be rated like a regular-use vehicle.

The company offers a specific list of which vehicles qualify and which do not.

The classic car policy offers a Guaranteed Value coverage that pays out total loss claims at a specified amount, without depreciation or other value questions. Coverage allows unlimited pleasure and flexible usage without fixed mileage restrictions so that auto insurance policyholders can use the vehicles as they choose, as long as they are not used as a daily driver.

These policies can also include Hagerty Drivers Club, which provides 24/7 full-service roadside assistance for any non-accident emergency, and includes guaranteed flatbed towing using soft straps to prevent damage.

Does the company offer classic boat insurance?

Like the classic/collector car insurance policies, Hagerty classic marine insurance covers vintage and classic boats that might not qualify for other marine insurance elsewhere.

These insurance policies cover the boat on the water as well as land, with unlimited land transportation coverage. Classic boat coverage is written as an agreed value policy, covering the boat for an appraised amount.

Hagerty also offers Boat Restoration Insurance to cover a classic boat during the restoration process, whether the customer is doing the restoration or using a professional service. The policy includes fire, theft, vandalism, as well as overland transfer.

Boat insurance is underwritten by Essensia Insurance Company.

Does the company offer business insurance?

Hagerty’s business insurance program is aimed at companies that provide services related to classic vehicle ownership. These include:

• Restorers and Builders
• Museums
• Dealerships
• Storage Facilities
• Business-titled Collections
• Car Clubs
• Event Organizers and Sponsors
• Collections with Dealer Plates

Does the company offer other specialty vehicles insurance?

Hagerty’s lineup of specialty vehicle products offers coverage for more than just boats and cars. They offer insurance policies to protect:

• Motorsports vehicles used in racing and other competitions
• Classic trucks and SUVs
• Vintage Motorcycles and Scooters
• Antique Tractors
• Modified Vehicles
• Collector Trailers

Are the company’s rates affordable?

Because Hagerty writes specialty insurance, we are unable to compare their rates directly to other auto insurance carriers. Rates are based on a number of factors including the appraised value of the vehicle. Rating for this type of insurance policy differs from regular car insurance.

Hagerty promises competitive rates that are lower than those offered by non-specialty companies, thanks to the lower rates available to collector vehicles not being driven frequently. Collectors will need to provide the specifics of their particular vehicle in order to obtain an accurate quote for a classic car insurance policy.

Hagerty is a niche insurance agency that does offer online quoting, or quotes can be obtained from an agent.

Is the claims process simple?

Hagerty insurance agency accepts claims online, promising contact from a representative within one business day of the claim being received.

There is also a toll-free claims line available where customers can call in 24/7 at The claims department is staffed by collector and classic cars specialists who will assist with the claims process and help to locate the required parts for repairs. They maintain a list of difficult to obtain parts and handle the careful restoration of cars, boats, and other classic vehicles.

Policyholders can choose any repair shop they prefer, and Hagerty offers the services of appraisers who are experts in classic cars to assist with the estimate and repair process.

Policyholders can also choose to keep their vehicle in the event of a total loss and restore it.

Hagerty promises fast claims service, with same-day glass repairs and most auto policy claims paid within 15 days, according to their website.

Are there consumer complaints against the insurer?

Hagerty is not BBB accredited, but they do have an A+ rating. There are only six complaints by customers in the past three years, two of which have been closed in the past 12 months. For a big insurance company, these numbers are very impressive.

There are a few complaints out there regarding Hagerty, most of them surrounding claims and customer service issues. There is nothing unusual for a classic auto insurance company of this size in the complaints, nor is the complaint volume out of the ordinary.

What is the company’s financial strength rating?

Rating Company	Grade	Financial Outlook
AM Best	N/A	N/A
Fitch	N/A	N/A
S&P	N/A	N/A

What’s the bottom line?

Hagerty is one of the most prominent classic car insurance companies and should be on the quote comparison list for most classic car and boat owners looking for insurance coverage. Due to the limited number of choices for many vehicles in this market, Hagerty is likely to be on the shortlist for most people.

They have a strong program and a strong reputation and insure many vehicles that would be difficult to insure anywhere else. It’s possible that other specialty insurance companies may offer a better rate, but these companies may not offer the expertise or specific insurance coverage that Hagerty provides.