Hagerty Insurance Review: The Best Protection For Your Classic?

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Classic car with top down (text in image: Hagerty Insurance Review)Hagerty specializes in insuring a wide variety of classic, antique and collectible vehicles. With low premiums, a guaranteed agreed value and fantastic low-priced add-on options, Hagerty sounds like a solid choice. But do they deliver their customers reliable coverage and claims?

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Article Overview

Hagerty Insurance

4.3 / 5
Hagerty Insurance
Rates 4.8
Add-On Options 4.8
Ease Of Claims Process 4.0
Customer Support & Reputation 3.8

Pros

  • In business for more than 25 years
  • No mileage limitations (as long as it’s not a daily-use car)
  • $750 of coverage for lost or stolen spare parts and $250 for personal items
  • Automatic 30-day coverage if you buy a second collectible car
  • Optional restoration coverage
  • Roadside assistance add-on

Cons

  • Some model-year and value restrictions
  • Several users report 3-4 hour wait times for their flatbed towing assistance
  • Not BBB accredited

Key Features

  • Long history as a financially sound insurance provider
  • Ability to file claims online, by phone or with your local agent
  • Also offers classic boat insurance
  • Instant new purchase coverage: 30 days of coverage for up to $50,000 of the vehicle value for new collectible cars
  • Up to $1,000 of coverage for motorcycle safety apparel including leather pants, gloves, jacket and helmet
  • Excellent website resources about classic car values, market trends and more
  • Not BBB accredited
  • A.M. Best rating*: A (excellent)

*A.M. Best measures companies’ financial stability.

Premiums

Hagerty classic car insurance premiums vary widely based on the year, make and model of your collectible car as well as your state of residence.

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Policy Add-Ons

Vehicle Under Construction Coverage

If you’re restoring or building a classic car, you can purchase Hagerty’s restoration coverage for $20 per year, which includes:

  • An automatic 10% increase per quarter (up to $25,000) until the restoration is complete.
  • An additional $750 of coverage for automotive tools.
  • A dedicated toll-free number to classic and collectible vehicle towing specialists to get your car back and forth from the shop.

Traveling Collector Coverage

For just $25 per year, you can also add on $1,500 coverage for trip interruption reimbursement for the use of a rental, repayment of expenses (tickets, fees, etc.) and food and lodging during repairs. This add-on also includes $10,000 accidental death coverage, $500 of which can cover a family pet.

Roadside Service

All roadside service plans include guaranteed flatbed towing and unlimited service calls.

 1st Gear2nd Gear3rd Gear
Annual Price$45$70$175
CoversClassic CarsClassic CarsAll Household Vehicles
Miles Per Tow1560150
Emergency Services$50$100$100
Friends/Family NotificationsCheckmarkCheckmark

What Do People Think Of Hagerty Insurance?

Positive Reviews

Don’t know why some in the reviews section have such bad experiences with Hagerty. I recently had a comprehensive claim when my vintage motorcycle fell over in 30mph+ winds while in the driveway. Within 2 days they sent an appraiser out, and a week after that they had a check on the way. The amount their appraiser quoted for repairs was within $10 of my estimate so pretty much spot on. Maybe there is a difference between how they handle cars vs. motorcycles, but in my experience it was very pleasant to deal with them. – Eric W., Yelp 6/4/2019

We own a classic car for which we were paying a much higher amount with a better-known company. The quote from Hagerty was far less expensive for more comprehensive coverage. When we needed road service, Hagerty dispatched a tow truck that arrived in record time. Hagerty’s dispatcher was honestly courteous (not nice-because-I-am-paid-to-be-nice) and the tow truck operator was incredibly careful, knowledgeable and gregarious. Hagerty is the gold standard for insurance companies. They have competitive pricing and terrific customer service. – Stacy, Consumer Affairs 6/9/2017

Negative Reviews

Filing a claim with Hagerty has been the most difficult and insufferable process I’ve ever had when filing a claim. There is never an adjuster available to speak with (or any upper level management for that matter) and when you finally do get someone on the phone, they are of no help. Hailey makes no effort to expedite the process, even after making promises to do so. It’s been three weeks since I filed my claim and I am still fighting tooth and nail to get things done. – Eleanor M., Yelp 4/7/2019

I bought a ‘Vehicle Under Construction’ policy to cover a truck that I was restoring. It was damaged in the process and I was told that Hagerty would basically only cover damages caused by fire or natural disaster. Collision coverage was not made available to me on the policy options that were presented to me since it was in pieces at the time you insured my truck. I thought that by this one being more expensive would cover more not less. – Adam, Consumer Affairs 3/30/2017

Why Get Collectible Car Insurance?

Check out this brief video that highlights some of the reasons you’ll want collectible car insurance.

How Does Hagerty Compare?

Visit Hagerty Insurance Website

We’ve found some buzz around the web that Hagerty has some of the lowest rates you’ll find for classic car insurance. When it comes to claims and customer service, reviews are mixed. Many people have had satisfying experiences, while others not so much. We will note, however, that this is a fairly common occurrence with most insurance companies. See how Hagerty Insurance compares to other companies in our comprehensive classic car insurance review.

What kind of collectible vehicle are you looking to insure?

About The Author:

While attending the University of North Carolina at Chapel Hill’s graduate school for journalism and public relations, Sally began a long career researching and writing about hard-to-understand topics, such as insurance and finance.

Her additional experience in marketing, fundraising, public relations and financial planning at various foundations and nonprofit organizations over the years has given her the practical tools to inform consumers about making the smartest business and personal financial decisions.

Speaking of smart living — growing up in the (at-the-time) per-capita murder capital of the U.S. (Richmond, VA) taught her a thing or two about the need for personal and home safety. Sally stays on top of all the latest gadgets and services to protect her and her teenage daughters from potential predators and thieves. And she brings this knowledge to every article she writes.

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