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:
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.
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.
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:
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.
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.
*Hagerty market data as of 5/15/2022.
**Source: 2017 Hobby Survey.
^Less any deductible and/or salvage value, if retained by you. Guaranteed Value includes all taxes and fees unless prohibited by state law.
Hagerty, Hagerty Drivers Club, Guaranteed Value & Hagerty Garage + Social are registered trademarks of The Hagerty Group LLC, ©2022 The Hagerty Group, LLC. All Rights Reserved. The Hagerty Group, LLC is a wholly owned subsidiary of Hagerty, Inc. Not all coverages are available in every state. This is a general description of coverage. All coverage is subject to policy provisions, exclusions, and endorsements. Hagerty determines final risk acceptance.