Frequently Asked Questions About Hagerty Insurance
What makes Hagerty Insurance different from standard auto insurance?
Hagerty specializes in collector and enthusiast vehicles, offering guaranteed value coverage instead of amortized payments. This ensures that you receive the full sum assured in the event of a covered total loss.
Can I use my collector car for daily travel with Hagerty Insurance?
No. Daily commuting is not permitted, but limited errands and occasional driving, up to 60 times a year in most states, are permitted.
Does Hagerty Insurance cover modified or customized vehicles?
yes Hagerty insures hot rods, restomods and other custom builds that meet their eligibility guidelines. Performance modified motorcycles are usually excluded.
What types of vehicles are eligible for Hagerty insurance?
Coverage is available for classic cars, trucks, SUVs, motorcycles, boats, tractors, trailers, military vehicles, retired commercial vehicles and even complete collections.
What is the difference between contract value and claimed value insurance coverage?
The agreed value, also called the guaranteed value, locks in the sum insured in advance. If there is a total loss, the customer receives that amount without depreciation. Declared value policies allow the insurer to pay either the depreciated amount or the replacement cost of the vehicle, usually whichever is lower.
How is classic car insurance different from regular car insurance?
Classic car insurance usually costs less, reflects limited use and includes cover at an agreed value. Standard car insurance relies on actual cash value, which takes depreciation into account and often results in lower claim payouts.
