Easy add-ons for customizing collector car coverage

Car enthusiasts are notoriously obsessed with every detail of their special vehicles. They hear every engine knock. See each rogue fingerprint. It’s no surprise that they expect that same level of attention from agents handling their vehicle’s insurance coverage. That’s ideal, because Hagerty lets you custom-tailor policy endorsements to fit even your most unique client need. Here’s a look at our most popular coverage add-ons and how they can benefit the gearheads in your book.

Who needs collector car policy endorsements?

Our cheeky answer? Everybody.

Or at least everyone with a collector car policy through Hagerty. As a company founded by enthusiasts, Hagerty designs coverages based on what car-lovers need and how they spend their money.

And spend they do. The average U.S.-based Hagerty member reports an annual household income over $140,000. Three out of four members report spending money on their automotive hobby within the last year, with almost 30 percent investing more than $20K a year.

What do they buy with all that cash? Cars and car stuff, naturally.

Almost all of them (96%) spend to restore or maintain their special vehicle(s). More than one-third told us they started or continued work on a major car restoration project just this year.

47% spend their money on vehicle storage, while 46% shelled out for car club memberships.

It gets even better. 40% dedicated their hobby spend to buying an enthusiast vehicle in 2021 — with the average member owning two collector vehicles. Nearly 30% actually own three or more cars!

Our point is this — your clients have money dedicated to their collector cars and the automotive hobby. That means they’re passionate and invested – many quite literally – and willing to spend for proper coverage. It’s in their DNA.

So when clients show a need for special protection, remember we’ve got their backs. And yours.

An enthusiast working on a car restoration

Specialty add-ons for customizing coverage

When we say specialized coverage, we mean it.

As enthusiasts ourselves, Hagerty prides itself on offering the most personalized policies available for classic and collector car enthusiasts. These unique add-ons and endorsements will help you satisfy almost any car-loving client:

  • Cherished Salvage® helps customers honor the vehicles they love

    No one wants to consider it, but what happens to the car if the worst happens? Will they want the opportunity to restore it? Or keep it in the family for the next generation to rebuild? In the event of a total loss, a Cherished Salvage® endorsement allows customers to keep their vehicle and still receive its full Guaranteed Value® (minus any deductible) with no deduction for salvage. Client cost is just 15% of the vehicle’s physical damage premiums.*

  • Vehicle Under Construction protects restoration time and money

    Yes, you can offer protection for clients actively building or restoring a special vehicle. At just $20 per year* Vehicle Under Construction coverage includes automatic quarterly value increases to upshift the car’s value by 10% each quarter.+ Tools are covered, too. Remember all those enthusiasts willing to spend big on their project cars? This is the perfect endorsement to their Guaranteed Value® policy.

  • Protect your client’s car collectibles with Spare Parts, Tools, and Automobilia

    Policies through Hagerty already include $750 of spare parts coverage, but more is available starting at $19 per year.* Automotive Tools Coverage starts at $28 per year* and protects tools, toolboxes, storage cabinets, and accessories. Your client’s antique signs, model cars, license plates, and other car collectibles can be protected with Automobilia Coverage for just $12 per year.*

There’s truly a coverage endorsement for every client Evacuation Expense coverage helps offset a client’s emergency moves. Traveling Collector coverage brings peace of mind on road trips, rallies, and cruises. Check out our full suite of available endorsements here. Odds are there’s a coverage for every client in your book.

And how about an endorsement for our endorsements? Take it from a Hagerty member with a recent Cherished Salvage experience:

“When people have an investment in an automobile, there is a lot of money, time and preciousness involved (especially if they built it). It often means a lot to them to have an insurance agency that will stand by their side and make sure that they’re covered – without grief and without agony. That’s why I highly recommend Hagerty to anybody who has a collectible automobile.”

Sincerely yours, Jimmy Goble

A car being trailered into a barn

Contact us with your endorsement questions

Most enthusiasts consider their cars to be one-of-a-kind. At Hagerty, we deliver insurance solutions just as unique. Writing with Hagerty lets you custom-tailor collector policies with endorsements fitting any client's automotive lifestyle.

Quote and client manage policies through the Hagerty Agent Business Center. Find one-pagers on our popular policy add-onsCherished Salvage, and other helpful marketing tools on our Agent Resources page. You can also call us at 800-747-5348 or live chat at hagertyagent.com to talk policy endorsements. We’re here 7 days a week.

Want more insight? Visit Hagerty Agent Insights to find information and analysis written exclusively for agents serving the collector car market.

1 2022 Hagerty Enthusiast Report.

*Rates/premiums subject to change. Cherished Salvage title branding is subject to state laws and regulations.

**Hagerty pays up to $250 per vehicle, per occurrence, with an annual cap of $1,000 per vehicle.

+Maximum increase of $25,000. Value will return to original Guaranteed Value at renewal, unless client requests a value increase and Hagerty agrees.

^Less any deductible. Guaranteed Value includes all taxes and fees unless prohibited by state law.

Hagerty determines final risk acceptance. Some coverage not available in all states. This is a general description of coverage. All coverage is subject to policy provisions, exclusions, and endorsements

Guaranteed Value, Cherished Salvage & Hagerty are registered trademarks of The Hagerty Group LLC, ©2024 The Hagerty Group, LLC. All Rights Reserved. The Hagerty Group, LLC is a wholly owned subsidiary of Hagerty, Inc.