What The Hagerty Group does

The Hagerty Group, LLC is a specialty insurance provider and enthusiast platform serving the classic and collector vehicle market. Founded in 1984 as Hagerty Classic Marine Insurance and formally incorporated in 1996, the company operates as a wholly owned subsidiary of publicly traded Hagerty, Inc. (NYSE: HGTY), headquartered in Traverse City, Michigan. Hagerty underwrites specialty vehicle insurance for classic cars, collector vehicles, motorcycles, boats, vintage camper trailers, military vehicles, modified vehicles, antique tractors, and motorsports/track-day use, and serves multiple segments including classic car enthusiasts, high-net-worth collectors, motorsports participants, motorcycle owners, boat owners, and businesses (restoration shops, museums, dealerships, storage facilities, car clubs). The company reports 1.8 million members in its Hagerty Drivers Club community and operates across the US, Canada, and the UK.

Hagerty's core product is its Classic & Collector Car Insurance built on the proprietary Guaranteed Value® agreed-value coverage, which pays the full insured amount without depreciation in the event of a covered total loss. Supporting proprietary technology includes the Hagerty Valuation Tools and Hagerty Market Rating index, which provide industry-leading valuation data and market intelligence for collector vehicles. Through its April 2022 acquisition of Speed Digital and August 2022 acquisition of Broad Arrow Group (all-stock, $64.8 million), Hagerty built a vertically integrated technology and auction platform including Dealer Accelerate, Auction Accelerate, and Private Collection software. The Hagerty Marketplace operates auctions (free listing, 7% bidder premium) and classifieds (restricted to Drivers Club members), while Hagerty Media produces original video series including ICONS, Barn Find Hunter, and Redline Rebuild. In-house claims handling uses adjusters with hands-on restoration experience.

Hagerty generates revenue primarily through recurring specialty insurance premiums (annual billing), transaction fees on marketplace auctions, and $70/year Drivers Club memberships. Distribution combines a self-serve digital quoting and policy management platform, a US-wide local agent network offered at no additional cost, phone-based sales support, and event presence at flagship gatherings (Motorlux, The Amelia, California Mille, Greenwich Concours D'Elegance, RADwood). Underwriting occurs through a complex reinsurance structure anchored by Essentia Insurance Company (with Hagerty Reinsurance Limited assuming 100% of risk on Essentia policies effective January 2026), Markel Group (also a reinsurance partner for marine products and a strategic investor), and State Farm (strategic investor). The company raised $105 million in June 2023 and additional capital in August 2025 from these partners alongside the Hagerty family, and reported revenue growth from approximately $619 million in 2021 to $1,456 million in 2025 with EBITDA of approximately $217 million in 2025.

Name

The Hagerty Group

Legal name

The Hagerty Group, LLC

Website

https://hagerty.com

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

The Hagerty Group, LLC is a specialty insurance provider and enthusiast platform for classic and collector vehicles, offering Guaranteed Value® insurance, valuation tools, a 1.8M-member marketplace, and motorsports coverage across the US, Canada, and UK. Subsidiary of NYSE: HGTY.

Ownership category

akta.pro rank

Product category

Specialty Vehicle Insurance

NAICS

Used Car Dealers (44112), Motor Vehicle Supplies and New Parts Merchant Wholesalers (42312)

akta.pro primary industry

Classic / Collector Car Insurance (FSAJAAAG)

Keywords

• Specialty vehicle insurance
• Classic car insurance
• Collector vehicle coverage
• Automotive enthusiast platform
• Agreed value insurance

Headquarters

HQ city

Traverse City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Specialty Vehicle Insurance Premiums: Collection of insurance premiums from policyholders for specialty vehicle coverage including classic cars, collector vehicles, motorcycles, boats, and related insurance products. Revenue is recurring based on annual or multi-year policy terms.
2. Marketplace Auction Bidder's Premium: Hagerty Marketplace charges winning bidders a 7% premium on auction sales (minimum $500) for facilitating vehicle transactions. Sellers list vehicles free of charge.
3. Hagerty Drivers Club Membership: Annual membership ($70/year) providing access to classified listings, Hagerty magazine, exclusive events, automotive discounts, and other member benefits.
4. Referral Program Revenue: Referral program where members can refer friends for insurance quotes in exchange for merchandise gifts like art prints.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

The Hagerty Group underwrites and distributes specialty insurance for classic, collector, and enthusiast vehicles—including cars, trucks, motorcycles, boats, military vehicles, and vintage trailers—with agreed-value (Guaranteed Value®) coverage and flexible usage terms. It also operates Hagerty Marketplace (collector-car auctions and classifieds), Hagerty Valuation Tools, Hagerty Drivers Club membership, Hagerty Media content, and dealer/auction technology platforms (Dealer Accelerate, Auction Accelerate, Private Collection) for the collector-car ecosystem.

Product overview

The Hagerty Group is a specialty insurance provider and enthusiast platform for classic and collector vehicles, offering a platform-plus-modules architecture. The core product is Classic & Collector Car Insurance with Guaranteed Value coverage, supplemented by specialized vehicle insurance products including motorcycle, boat, truck/SUV, motorsport, military vehicle, modified vehicle, tractor, and vintage camper trailer insurance. The company operates the Hagerty Marketplace (auctions and classifieds platform) and Hagerty Drivers Club membership. Premium offerings include Private Client insurance for high-value collections, while add-on modules provide specialized coverage like Cherished Salvage, Vehicle Under Construction, Evacuation Expense, and Motorsports Advantage. Supporting services include Hagerty Valuation Tools, Classic Car Financing through partner lenders, Hagerty Media content platform with original video series, and Business Insurance for restoration shops, museums, dealerships, and car clubs.

Differentiator

Problem solved

Functional benefit

Brands

• Hagerty Drivers Club: Ultimate membership community for car lovers with emergency roadside service, Hagerty magazine, automotive discounts, and exclusive events
• Hagerty Marketplace
• Hagerty Valuation Tools
• Guaranteed Value
• Cherished Salvage
• Hagerty Originals
• Broad Arrow Capital
• Private Client

Products and services

• Classic & Collector Car Insurance Core personal-lines insurance product offering agreed-value (Guaranteed Value®) coverage for classic and collector automobiles, with flexible usage terms and lower premiums than daily-driver policies.
• 1980 & Newer Collector Vehicle Insurance Specialty insurance for 1980-and-newer enthusiast vehicles that qualify as modern collectibles based on limited usage and enthusiast ownership rather than age.
• Collector Truck, Jeep & SUV Insurance Specialty collector-vehicle insurance for classic trucks, Jeeps, and SUVs typically 1998 and older.
• Classic Motorcycle & Scooter Insurance Specialty insurance for classic, antique, and collector motorcycles, scooters, and mopeds (1996 and older, minimum $2,000 value).
• Motorsport Insurance Specialty insurance for motorsports activities covering non-street-legal race cars, street-legal race vehicles, and track-day events (HPDE, autocross, time trials), with single-event and annual non-competition policies.
• Boat & Yacht Insurance Classic and collector marine insurance covering wooden boats, fiberglass boats, pontoons, yachts, and high-performance boats, underwritten in partnership with Markel.
• Vintage Camper Trailer Insurance Specialized insurance for vintage camper trailers 25 years and older with minimum insured value of $2,000.
• Military Vehicle Insurance Specialty insurance for retired, de-militarized military vehicles 20 years or older.
• Modified Vehicle Insurance Specialty coverage for hot rods, street rods, resto-mod classics, pro-street vehicles, custom imports, and replicas.
• Classic Tractor Insurance Specialty insurance for antique tractors 25 years and older that are not used for farming or utility purposes.
• Private Client Insurance Premium high-net-worth collector-vehicle insurance offering Guaranteed Value protection with no appraisals, automatic new-purchase coverage up to $5 million, Market Appreciation Coverage up to 150% of insured value, and a dedicated service team.
• Classic Car Business Insurance Specialty commercial insurance for collector-car businesses including restoration shops, museums, dealerships, storage facilities, and car clubs.
• Hagerty Marketplace (Auctions & Classifieds) Online marketplace connecting third-party buyers and sellers of collector vehicles via auctions (free to list, 7% buyer's premium, $500 minimum) and classifieds (free for Drivers Club members, 60-day listings).
• Hagerty Drivers Club Membership Annual membership ($70/year) for automotive enthusiasts providing unlimited flatbed-towing roadside assistance, a Hagerty Drivers Club magazine subscription, exclusive events, partner discounts, and access to classified listings.
• Hagerty Valuation Tools Proprietary collector-car valuation and market-data platform used by enthusiasts and industry participants to research values and market trends for buying, selling, and insuring classic vehicles.
• Classic Car Financing Financing facilitation for collector-car purchases through Hagerty's Broad Arrow Capital and partner lenders (Woodside Credit, JJ Best Banc & Co, Putnam Leasing, Premier Financial Services, Lightstream, 1st Financial Bank USA) for hobby loans, leases, and personal loans against vehicle collections.
• Hagerty Media / Hagerty Originals Owned-and-operated automotive content platform featuring editorial articles, market-trend coverage, and original video series (ICONS, Revelations, Barn Find Hunter, The Driver's Seat, Capturing Car Culture, Redline Rebuild, Will It Run?).
• Speed Digital Dealer & Auction Platforms Cloud-based software suite (Dealer Accelerate, Auction Accelerate, Private Collection) sold to automotive dealers, auction houses, and private collectors to manage collector-vehicle inventory and transactions.
• Broad Arrow Auctions High-end collector-car auction house operated as a Hagerty subsidiary, running premium collector-car sales alongside the Hagerty Marketplace platform.

Quantifiable outcome

• Premiums up to 21% lower on average than daily driver insurance
• +3 more outcomes

Named customers4 records

Segments7 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature5 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Essentia Insurance CompanycoreStrategic or Co-development Partner · 1 January 2026Hagerty amended its Master Relationship Agreement with Essentia through December 31, 2028, retaining an option to purchase Essentia between January 2026 and January 2028. Hagerty Reinsurance Limited assumed 100% of risk on Essentia policies under a new Quota Share Reinsurance Agreement effective January 1, 2026.
• Broad Arrow GroupcoreStrategic or Co-development Partner · 1 August 2022Hagerty acquired all outstanding shares of Broad Arrow Group, a company specializing in the collector car market, in an all-stock transaction valued at $64.8 million. The deal closed August 16, 2022, with Broad Arrow operating as part of Hagerty's ecosystem under leadership of Kenneth Ahn.
• Speed DigitalcoreStrategic or Co-development Partner · 1 April 2022Hagerty acquired Speed Digital, a provider of cloud-based solutions for automotive dealers, auction houses, and enthusiasts. Speed Digital's platforms including Dealer Accelerate, Auction Accelerate, and Private Collection processed approximately $1.5 billion in collector car sales in 2021.
• Broad Arrow CapitalminorStrategic or Co-development PartnerBroad Arrow Capital, a Hagerty Company, provides financing for collector cars. Referenced as a trusted lender on Hagerty's financing page alongside other partners.
• Woodside CreditminorOthersAlternative lending partner for classic car financing, offering loans for collector vehicle purchases through Hagerty's financing page.
• JJ Best Banc & CominorOthersLender partner specializing in antique, classic, and collectible vehicle loans, featured on Hagerty's financing page.
• Putnam LeasingminorOthersLeasing partner for classic car financing options, referenced alongside other lenders on Hagerty's financing page.
• Premier Financial ServicesminorOthersLender partner for collector car financing, offering financing options for classic vehicle purchases through Hagerty's financing page.
• LightstreamminorOthersOnline personal loan provider partner for classic car financing, featured on Hagerty's financing page.
• 1st Financial Bank USAminorOthersBanking partner offering personal loans for classic car purchases, referenced on Hagerty's financing page.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Grundy Insurance: Grundy is one of the oldest and most direct competitors to Hagerty in agreed-value classic and collector car insurance, offering similar Guaranteed Value-style coverage to enthusiast owners. It serves the same customer segment with a comparable specialty insurance product and overlapping agent/broker distribution.
• American Collectors Insurance: American Collectors specializes in antique, classic, and collector vehicle insurance with agreed-value coverage targeted at enthusiasts and collectors. It competes head-to-head with Hagerty on core classic auto policies, including motorcycles, with similar product positioning in the enthusiast community.
• Heacock Classic Insurance: Heacock Classic is a long-standing direct competitor in classic and collector car insurance, offering agreed-value policies with a focus on enthusiast ownership. Comparable in product scope and target customer to Hagerty's core offering, though smaller in scale.
• Bring a Trailer: Bring a Trailer is the leading online auction platform for collector cars and a direct competitor to Hagerty Marketplace Auctions. Both platforms serve enthusiast buyers and sellers of collector vehicles, compete for transaction volume, and have built large enthusiast communities around collector car commerce.
• RM Sotheby's: RM Sotheby's is a premier global collector car auction house, competing with Hagerty-owned Broad Arrow Auctions at the high end of the collector car market. Both run live and online auctions for significant collector vehicles, targeting the same HNW buyer and consignor segments.
• Mecum Auctions: Mecum is one of the largest collector car auction companies in the US, running hundreds of events annually and competing with Hagerty's marketplace and Broad Arrow. Both platforms facilitate collector vehicle transactions and serve enthusiast buyer/seller communities.

Broad incumbents

• Markel Group: Markel is both a Hagerty strategic investor (board-designated director since April 2026) and a specialty insurance competitor with significant presence in classic car, marine, and motorsports coverage. Markel writes Hagerty's marine insurance products and serves an overlapping customer base, making it a hybrid partner/competitor.
• State Farm: State Farm is both a Hagerty strategic investor (June 2023 capital raise) and the largest US personal auto insurer. While State Farm's standard auto policies are not directly competitive with Hagerty's specialty coverage, its sheer scale and brand recognition in personal lines creates indirect competitive pressure and potential expansion into specialty.

Emerging players

• Gooding & Company: Gooding & Company is a high-end collector car auction house specializing in premium consignments at events like Pebble Beach. It competes at the upper end of the collector car market alongside Hagerty's Broad Arrow Auctions and RM Sotheby's.
• ClassicCars.com: ClassicCars.com is a long-established online classifieds platform for collector and classic vehicles, competing with Hagerty Marketplace Classifieds. Both serve enthusiast buyers and sellers of collector cars with listing-based marketplace models.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Hagerty
• Facebookfacebook.com/Hagerty
• LinkedInlinkedin.com/company/hagertycars

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries7 records

Funding overview

Funding rounds3 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Hagerty Group