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Hagerty Insurance Review & Complaints: Auto, Boat & Business Insurance

Refer to this Hagerty Insurance review to find out just how much you can save on your specialty vehicle insurance. Hagerty Insurance comes with an A+ rating from the Better Business Bureau, and the Hagerty Insurance claims office is open 24/7.

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Eric Stauffer is a former insurance agent and banker turned consumer advocate. His priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best...

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UPDATED: Sep 9, 2020

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

Hagerty Insurance Summary

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 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.

The company’s commitment to the classic car 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 their 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 classic car coverage, boat insurance, motorcycle and other motor sports, and 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.

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Insurance Products

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.

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 insurance. This generally means that they are not used as daily drivers, among other restrictions.

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 use mileage so that 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 Plus roadside assistance, which provides assistance for any non-accident emergency, and includes guaranteed flat bed towing using soft straps to prevent damage.

Classic Boat Insurance

Like the classic car policy, Hagerty’s marine insurance covers vintage and classic boats that might not qualify for other marine insurance elsewhere.

These 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.

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

Other Specialty Vehicles Insurance

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

Hagerty Insurance Rates

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

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

Hagerty does offer online quoting, or quotes can be obtained from an agent.

Claims

Hagerty 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 1-800-922-4050.

The claims department is staffed by classic and collector car 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 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 vehicles 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 claims paid within 15 days, according to their website.

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Consumer Research and Complaints

Hagerty is not BBB accredited, but they do have an A+ rating. There are only six  complaints 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 an insurance company of this size in the complaints, nor is the complaint volume out of the ordinary.

Financial Strength

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

Bottom Line

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

For a list of companies that we recommend, visit our Best Insurance Companies page.

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Review Information

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About Eric Stauffer

Author: Eric StaufferI am a former insurance agent and banker turned consumer advocate. My priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.

6 Comments

  1. Hagerty is a scam in Quebec.

    They sell you a regular car policy with Aviva Canada.

    When you need to make a claim no one at Aviva knows anything about classic cars, and when you call Hagerty in the states, no one will help.

    I’m into my second week of waiting for a call and someone to visit and evaluate the damage.

    Hagerty is fine unless you need to make claim, that’s when they disappear.

    AVOID Hagerty classic car insurance in Quebec, its a scam

    Reply
  2. I had two corvettes burn up in a house fire January 31st, 2019.

    Here it is April 5th, 2019 and I am still trying to get my money so that I can replace the cars.

    I’m told that the claim has been approved and that the checks were sent out after a processing screw up and I still don’t have them.

    I’ve tried for two days to get answers and all I get is a runaround. Here’s what a statement above reads:

    Hagerty promises fast claims service, with same-day glass repairs and most claims paid within 15 days

    It has been two months for me so far.

    Reply
  3. I have spent hours today filling out paperwork, applications, and phone calls and the last phone call I made with a question, I was told they won’t insure my car. All this time I spent talking to customer service representatives was a total waste of my time and effort. I will say that all their representatives were very helpful until the last one I spoke with and gave me the bad news.

    Reply
    • YOU ARE LUCKY ! If you had bought insurance from them they would NOT PAY!!! Try American Collectors !!! They are a GREAT COMPANY!!!

      Reply
  4. hagerty will not pay your legit claims, they will lie and deceive cheating you out of your money, they sent an agent to my home, he arrived 2.5 hours late, was under the influence and underestimated the value of repairs, he wrote 2600, Mercedes cost was 5600, ALL COLLECTORS BEWARE hagerty WILL NOT PAY AND ONLY WANTS YOUR MONEY. THEY CHEATED ME, THEY WILL CHEAT YOU TOO.

    Reply
    • C B,

      I recently did a claim and my experience was nowhere near what you experienced.

      I was very shocked at the quick response I received and the insurance adjuster that came out was very prompt.

      He also gave me follow up phone calls as well as called me when he was on his way with the approximate ETA.

      The adjuster was very professional and took his time to examine the vehicle. It took him almost an hour to take pictures and look at every angle of the vehicle.

      Then on top of that, the check was cut a couple of days later. All I have to say is WOW and I will be referring other to Hagerty Insurance.

      Note: I was not paid to give my comments on behalf of Hagerty! I did this because I’m a very please happy customer!

      Thank you, Hagerty!

      Reply

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