The roadmap for a hard market

Hagerty is here to make the ride as smooth as possible.

These days, are you finding clients particularly focused on price, while underwriting guidelines are making it tougher to save them money? That’s a hardening market. Good news, though: Hagerty is committed to helping you and your clients make a positive shift.

What to do when premiums increase and underwriting gets stricter?

#1 Unbundle

The bundle is no longer limited to a carrier. Think of the bundle as existing within your agency.

This is especially true if you have a client with difficulty protecting their second home, boat or jewelry, and for those accounts with increased pressure from rate increases. Time to unbundle.

For example, protecting your client’s collector cars with Hagerty will likely save them money and improve their coverage. How?

From 2018-2024, the average cumulative rate increase from the top ten insurance providers was 24.6%, while Hagerty has increased only 6.3%*.

Premiums through Hagerty reflect enthusiasts’ passion for their vehicles - and their usage - so they tend to provide a much higher value (lower cost, better coverage).** This can also help balance unavoidable price increases in other areas of the account.

#2 Utilize product accessibility

With so many sizable rate increases happening across personal lines, you can truly support your clients by taking advantage of a range of options beyond standard carriers. It’s an ideal way to cover all your clients’ assets while balancing cost.

Plus, specialty protection through Hagerty has strong retention (~89% PIF retention)** and customer satisfaction rates (NPS of 82)***. Win-win.

#3 Leverage your network

Knowledge drives business. That’s where your network can help. As a Hagerty-partnered agent, you have access to market insights, product information, and training and marketing materials.

Don’t forget that our robust sales and agency relationship team provides additional support to help you earn and retain clients.

#4 Solve for macro trends

From groceries to new cars to mortgages, your clients are experiencing economic pressure everywhere. Under these conditions, every bit of savings counts, and that’s where you come in.

You can help offset these costs by placing coverage on their specialty assets, like collector cars, with a specialized company, like Hagerty.

#5 Add value beyond insurance

Want to guarantee your clients stick around? Take a consultative approach. Thanks to Hagerty, you have access to ease-of-business solutions that free up your time, as well as resources most people can’t find on their own.

We’re your hook-up for top retention drivers for car lovers, like Hagerty Drivers Club®, enthusiast media, Valuation Tools®, automotive events, expertise, and more.

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Coverage designed for enthusiast vehicles has always been crucial for helping car lovers get behind the wheel. But just as important: it may have a lower premium, too. A lower insurance premium is just the thing many of your customers and prospects are on the hunt for right now. Let's drive together.

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