What Hagerty does

Hagerty is a specialty insurance provider focused on collector vehicles, founded in 1996 and headquartered in Traverse City, Michigan. The company insures more than 1,000,000 vehicles, 12,000 boats, and 30,000 motorcycles, protecting an aggregate asset value exceeding $30 billion. Beyond core insurance, Hagerty operates an integrated enthusiast ecosystem that includes Hagerty Drivers Club (membership, events, and concierge), HagertyRe (captive reinsurance), Broad Arrow Group (collector vehicle auctions and marketplace), Hagerty Media (content and editorial properties), and Hagerty Valuation Tools (15+ years of proprietary valuation data used across the collector vehicle industry).

The business model combines insurance premium and commission revenue with subscription membership, auction commissions, event services, and media advertising. Distribution runs through independent agents in the United States, Canada, and the United Kingdom, supplemented by direct engagement with 80,000 agents and clients monthly and support of more than 2,000 industry events annually. Coverage has been deliberately extended from classic and collector cars into modified vehicles, military vehicles, antique tractors, vintage campers, and electric boats, alongside specialist programs such as Private Client for vehicles above $500,000 and tailored cover for vehicles under construction or classified as Cherished Salvage. The company's revenue mechanics combine insurance underwriting economics, reinsurance profit capture, auction commissions, and media monetization, which together reduce dependence on any single product line.

Name

Hagerty

Legal name

The Hagerty Group, LLC

Website

https://hagertyagent.com

Company type

Private

Founded year

1996

Operating status

Operating

Short description

Hagerty is a specialty insurance carrier and enthusiast ecosystem for collector vehicles, insuring over 1,000,000 cars, boats, and motorcycles across the US, Canada, and the UK. The company layers membership, auctions, media, and reinsurance on top of its core insurance distribution through independent agents.

Ownership category

akta.pro rank

Headquarters

HQ city

Traverse City

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Technology or R&D, Supply Chain

Revenue model

1. Insurance Premiums: Commission-based revenue from underwriting companies. Hagerty acts as insurance producer earning fixed percentage commission on policyholder premiums. Commission varies by insurer and product. Additional compensation based on growth, profitability, volume, and retention.
2. Hagerty Drivers Club Membership: Annual subscription membership offering 24/7 roadside assistance, exclusive automotive discounts, Hagerty Drivers Club magazine subscription, VIP event perks, and access to Hagerty Marketplace. Membership includes automatic renewal with upfront payment.
3. Surety and Title Bonds: Bonds for lost/defective titles and dealer licensing, powered by Travelers, with commission revenue for Hagerty.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Hagerty provides specialty insurance and related services for collector and classic vehicles, including cars, trucks, motorcycles, boats, modified vehicles, vintage campers, military vehicles, and antique tractors. The company delivers agreed-value (Guaranteed Value) coverage with no depreciation on total loss, expert claims handling with in-house parts specialists, and flexible usage policies without fixed mileage restrictions. Distribution is executed through a network of independent insurance agents using the Hagerty Agent Business Center portal, supplemented by the Hagerty Drivers Club membership program offering roadside assistance, marketplace access, valuation tools, and event perks.

Product overview

Hagerty is a specialty insurance provider for collector vehicles offering a comprehensive portfolio of insurance products and membership services. The core offering includes specialized vehicle insurance for collector cars, trucks, SUVs, motorcycles, boats, and motorsports vehicles, along with coverage for modified vehicles, antique tractors, military vehicles, commercial vehicles, and vintage campers. The product architecture includes a base of core vehicle insurance products supplemented by add-on coverage modules such as Vehicle Under Construction, Traveling Collector, Cherished Salvage, Evacuation Expense, and Surety/Title Bonds. Hagerty also offers business insurance for dealerships, museums, and restoration shops, plus a Private Client program for high-value collections. The company operates the Hagerty Drivers Club membership providing roadside assistance, marketplace access, valuation tools, and expert support. Additional services include My Garage social platform and SMS text messaging communications.

Differentiator

Problem solved

Functional benefit

Brands

• Hagerty Drivers Club: Membership program offering 24/7 emergency roadside assistance, automotive discounts, magazine subscription, VIP perks at events, and access to the Hagerty Marketplace for collectors.
• Hagerty Marketplace
• Hagerty Valuation Tools
• Ask Hagerty

Products and services

• Collector and Classic Car Insurance Specialized insurance coverage for collector and classic cars featuring Guaranteed Value coverage, flexible usage without fixed mileage restrictions, and expert claims handling with parts specialists trained in classic vehicle repair.
• 1990 and Newer Collector Vehicles Insurance Insurance coverage for vehicles model year 1990 or newer that are maintained for collector activities, including supercars and exotics with special handling for high-value vehicles.
• Collector Truck and SUV Insurance Specialized insurance for classic trucks and utility vehicles, typically 25 years and older, designed for the way collectors use these vehicles.
• Collector Motorcycle and Scooter Insurance Insurance for vintage motorcycles (25+ years old) and scooters with Guaranteed Value coverage and specialized claims handling for collector bikes.
• Classic Marine (Boat) Insurance Insurance coverage for boats including small boats, yachts, high-performance boats, electric boats, classic wooden boats, and commercial boats with flexible coverage options.
• Motorsports Insurance Off-track coverage for race cars, dragsters, pro-street vehicles, and raced motorcycles, including full coverage, limited collision, and comprehensive options.
• Modified Vehicles Insurance Insurance for modified cars including kit cars, replicas, street rods, custom cruisers, and custom imports with horsepower modifications.
• Antique Tractor Insurance Specialized insurance for antique tractors that are not used for farming or utility purposes.
• Classic Military Vehicle Insurance Insurance for retired military vehicles (20+ years old) including Jeeps and tanks that are de-militarized.
• Retired Commercial Vehicle Insurance Insurance for retired fire trucks, semi-tractor/trailers, buses, dump trucks, and other commercial vehicles that are 25+ years old.
• Vintage Camper Trailer Insurance Specialized insurance for vintage camper trailers (25+ years old) with Guaranteed Value coverage and premises liability.
• Business Insurance Commercial coverage for collector car dealerships, museums, restoration shops, and storage facilities including general liability, building property, garage liability, workers comp, umbrella, D&O, and cyber crime coverage.
• Private Client Program High-value vehicle collection protection for collectors with $500,000+ total insured value, featuring Value Guard quarterly increases, high automatic coverage up to $2.5M, VIN theft coverage, and international coverage.
• Hagerty Drivers Club Membership community for car enthusiasts providing 24/7 emergency roadside assistance, Hagerty Marketplace access, upgraded experiences at events, valuation tools, Ask Hagerty expert support, and original content including magazine subscription.
• My Garage Social media platform allowing users to upload photos and information about their vehicles, share personal stories, and follow/like/comment on other users' vehicles and stories.
• Vehicle Under Construction Coverage Additional coverage for vehicles being actively restored, with automatic 10% quarterly value increases up to $25,000 and $750 in automotive tool coverage.
• Traveling Collector Coverage Endorsement providing trip interruption coverage ($1,500), coverage for parts/tools ($750) and personal effects ($250), and accidental death coverage ($10,000) for traveling collectors.
• Spare Parts, Tools, and Automobilia Coverage Coverage for spare parts, automotive tools, and automotive collectibles including petroliana, model cars, signs, and memorabilia.
• Cherished Salvage Coverage Allows clients to retain salvage of their vehicle after a total loss and still receive Guaranteed Value with no salvage deduction (cost is 15% of vehicle's physical damage premiums).
• Evacuation Expense Coverage Coverage paying 50% of expenses to move covered vehicles from emergency areas (up to $250 per vehicle per occurrence, $1,000 annual cap).
• Surety and Title Bonds Bonds for lost or defective title situations and dealer license requirements, powered by Travelers.
• Collector Trailer Insurance Coverage for vehicle trailers and street rod trailers that are part of a collector car collection, including Coca-Cola-style trailers.

Quantifiable outcome

• Premiums up to 21% lower than standard auto insurance for collector vehicles
• +3 more outcomes

Segments9 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Cross Country Motor Club / AgerocoreImplementation/ SI/ Consulting PartnerCross Country Motor Club, Inc. d/b/a Agero manages roadside assistance services for Hagerty Drivers Club members. Services include towing, flatbed transport, and emergency roadside assistance. In AK, CA, HI, OR, WI, WY services are provided through Cross Country Motor Club of California, Inc.
• Broad Arrow Private Sales, LLC (Hagerty Marketplace)coreStrategic or Co-development PartnerBroad Arrow Private Sales, LLC dba Hagerty Marketplace is a Michigan-licensed vehicle broker that facilitates auction transactions on the Hagerty Marketplace platform, enabling members to buy and sell collector vehicles through auctions.
• Essentia Insurance CompanycoreOthersEssentia Insurance Company underwrites Hagerty auto and boat insurance policies. Carries A.M. Best rating of A (excellent) or better.
• Markel American Insurance CompanyminorOthersMarkel American Insurance Company underwrites certain Hagerty commercial insurance policies alongside Markel Insurance Company and Travelers.
• RPM FoundationminorStrategic or Co-development PartnerHagerty supports the RPM Foundation which provides restoration training and education for youth, aligning with Hagerty's commitment to preserving car culture.
• Hagerty Drivers FoundationminorStrategic or Co-development PartnerHagerty supports the Drivers Foundation dedicated to preserving automotive heritage and supporting collector vehicle community initiatives.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Condon Skelly Insurance: Direct writer focused on classic and collector car insurance with specialty usage-based terms; competes with Hagerty in the agreed-value classic car segment.
• Heacock Classic Insurance: Specialty collector vehicle insurer serving classic, antique and modified cars, a direct niche competitor to Hagerty in agent- and direct-distributed specialty auto coverage.
• American Collectors Insurance: Specialty classic and collector vehicle insurer offering agreed-value coverage to enthusiasts, the closest direct competitor to Hagerty's core insurance book across cars and motorcycles.
• Grundy Insurance: Long-standing specialty insurer for collector and classic cars with agreed-value products, competing directly with Hagerty on agent-distributed classic car coverage.

Broad incumbents

• State Farm: Mass-market auto and home insurer with a Collector Vehicle program; broad incumbent whose classic-car offering overlaps with Hagerty's product but as part of a much wider portfolio.
• GEICO: Largest direct-to-consumer auto insurer in the US with a Collector Car program; broad incumbent that competes with Hagerty on pricing for collector vehicles but inside a much larger book of business.
• Progressive: National auto insurer with a classic/collector vehicle product; broad incumbent whose scale and brand in standard auto can spill over into collector coverage.

Emerging players

• Bring a Trailer: Online collector-car auction marketplace; directly comparable to Hagerty Marketplace as a digital venue for transacting enthusiast vehicles, and an emerging threat to Hagerty's Marketplace monetization.
• Cars & Bids: Online auction platform focused on modern enthusiast vehicles (roughly 1980s–2020s); overlaps with Hagerty's 1990-and-newer collector vehicle book and with Hagerty Marketplace activity.

Others

• RM Sotheby's: Established collector-car auction house competing with Hagerty Marketplace at the high end of the auction market; adjacent rather than directly competing on insurance, but competes for the same enthusiast transaction activity.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/hagerty
• YouTubeyoutube.com/hagerty
• Facebookfacebook.com/Hagerty
• Instagraminstagram.com/hagerty
• LinkedInlinkedin.com/company/hagerty-agents-and-brokers

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries10 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Hagerty