Car enthusiasts will be glad to know insurance companies are dedicated to classic and collectible cars.
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Hagerty Classic Car Insurance
One of which is Hagerty insurance company, whose purpose is, as they put it, “Hagerty exists to keep classic cars on the road.”
About Hagerty
Hagerty is an American automotive lifestyle with products and programs with unique experiences that you can also have by only being a member of this fantastic insurance company. Hagerty is the world’s largest insurance provider for classic vehicles.
Hagerty’s headquarters is located in Traverse City, Michigan, and it is active in Canada, Germany, and the United Kingdom. Hagerty has been in business since1984, and now its Drivers Club has over 620,000 members.
What classic vehicles does Hagerty insure?
- Cars
- Trucks
- Motorcycles
- Scooters
- Boats
Whatever vintage or classic vehicle it is, Hagerty covers it.
How much would insuring a classic car cost?
When it comes to classic and collectible cars, there is no such thing as the average cost rate because there is not much left from that car model; it’s unique. Then how is the price determined? In classic car insurance, we have an agreed value.
You, the car enthusiast, and a Hagerty agent will sit and agree on a price for your car. In case of an accident that totaled your car, you will get the same money you agreed with your insurer. But what we can say for sure is that Hagerty’s premiums start at $100 per month.
What are the rules?
As a car enthusiast, you should know that there are some rules you must follow to keep your collectible car safe.
First, classic cars are not for daily use. You cannot use your fragile vehicle to run some regular errands; you have to prove to Hagerty that you already have a registered and insured car under your name.
It is a necessity to Hagerty that you have a vehicle to use daily; otherwise, Hagerty will not cover your classic car.
Second, there are limitations to using your collectible car when you insure it with Hagerty, but it isn’t a hard and fast rule, a mileage limitation over 5,000 miles a year.
If you are taking your classic car somewhere far, like out of town, it’s better to let Hagerty know ahead, so there would be no surprises.
Third, you have to keep your classic car in a secure place and prove that you have a permanent parking spot in a closed space like in:
- Garage
- Carport
- Storage facility
- Pole barn
- Car condos
- Storage units
- Car hauling trailers
- Car Capsules designed for exterior storage
- Non-public parking with 24-hour security such as an alarm system, security guard, or video surveillance
Classic Car Insurance Requirements
About Hagerty’s Drivers Club
For $45 a month, you can be a member of the Drivers Club and enjoy the members-only events, get special automotive discounts, and receive a subscription to Hagerty’s magazine, which I read a lot of good reviews about.
Hagerty claim process
Hagerty claim reviews show that its members experience a speedy and smooth claims process. After you file a claim, Hagerty, like other insurers, will assign a claims adjuster to you within one business day after you file your claim.
You can also take advantage of Hagerty’s in-house parts specialist, who can find you replacement parts for your classic vehicle.
