Exotics & Supercars: An Agent's Guide to High Performance

Never have more Ferraris, Lamborghinis, and Bugattis been seen on the roads — which means there’s plenty of opportunity to write high-performance supercar business. Here’s a look at the cars, the owners, and the next steps to finding success in this high-value market segment…

What’s an “exotic,” anyway?

Hagerty defines exotics as rare or limited-production vehicles with distinctive styling that are designed for high-performance or luxury. In other words, these cars look really good, go really fast, and are really expensive. Subsets include:

• Exotic Sports Cars/Sedans: These are often a manufacturer’s entry-level luxury model and usually an enthusiast’s first exotic vehicle. Think McLaren Sports Series, Lamborghini Huracán, or BMW M6.
• Supercars: Flagship models within a manufacturer’s sports car lineup, these cars show out with values exceeding $200K. Examples include Ferrari 488s, McLaren 720s, and Ford GTs.
• Hypercars: These are the top one percent of supercars, ie: the fastest and rarest of all. Porsche 918s, McLaren Sennas, and Ferrari LaFerraris.
• Extreme Luxury Cars: These are outliers in the exotic segment only because they’re built for style over performance. These status symbols include Rolls Royce Phantoms, Maybach 57s, and Bentley Azures.

Hagerty market data tells us between 70,000 and 100,000 exotics exist in the U.S. alone. With some MSRPs topping out nearly $1 million, owning an exotic or supercar takes a special kind of driver.

Your client: the exotic and supercar owner

• High income earners. Half of those who disclosed income make over $300K per year.**
• Mostly married. 86% have a spouse, which is ten points higher than the average Hagerty member.**
• Slightly younger, with an average age of 58 years young (versus 60 years old among all collector car owners).**
• Still working. Only 25% report being retired, which compares to 42% of all collector car owners.**

These drivers love cars and coffee meetups, track days, and unique automotive experiences. 58% belong to a car club. They’re twice as likely to travel to car shows on average and pack up with other supercar owners.

Most exotic drivers take very good care of their cars and have a true passion for the automotive lifestyle. In fact, 75% of owners are members of Hagerty Drivers Club®, the ultimate community for car lovers.

Ironically, insurance is the last thing these owners think about during a purchase. Since they’re often in a rush to start driving, they’re known to accept a high-price policy without comparison shopping. That’s where you come in.

Supercars mean super opportunities for agents

Insurance eligibility is the primary concern for exotic and supercar owners. For many, even with money to burn, finding coverage can be difficult. Common obstacles include the car’s overall expense or value, the new-ness of the vehicle’s model year, or the need for a professional appraisal requirement.

This is when Hagerty agents can step up and prove their value.

Coverage through Hagerty can be customized for your clients’ high performance and high value vehicles as new as 2022. Each policy can be tailored to protect their individual needs, with policy benefits including:

• Guaranteed Value®: Your client’s supercar is protected for what it’s really worth — no depreciation.^
• Flexible usage: Clients have the freedom to drive their exotic, if it’s not driven daily to work, school, etc.
• Expert claims handling: Our team goes the extra mile — from advice to tracking down replacement parts and everything in between.

One way to get in front of active buyers is to partner with a local dealership. Offer marketing support for driving events in exchange for an insurance referral. Over time, you become an insurance “fixer,” a go-to agent when dealership staff need a buyer insured quickly.

Another way to earn trust is to share Hagerty Drivers Club benefits. Current members who own exotics are extremely satisfied with the high-end and modern classic magazine features, not to mention access to the automotive events they love.

Many consider driving high performance machines to represent the ultimate celebration of car culture. Agents like you hold the keys to giving drivers everything they want.

Contact us to learn more

To qualify for Hagerty coverage, exotics and supercars of any make, model, and year must meet specific underwriting approval requirements. As you may expect, rare and unique vehicles like these require special handling.

Contact us at 800-922-4050 to learn more about vehicle eligibility. You can find additional marketing resources in the Hagerty Agent Business Center.