The roadmap for a hard market

Woman driving 1979 Toyota Land Cruiser

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: Have a client whose insurer will no longer include their second home, boat or jewelry? Are rate increases putting pressure on your accounts? Time to unbundle. For example, protecting your client’s collector cars with Hagerty will likely save them money and improve their coverage. How? 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, 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. 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. And 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 eggs to new cars to homes, 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.

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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*Figure based upon 2021 consumer data collected by Hagerty on single car quotes, with premiums $5000 and under, from several daily driver (or “Everyday”) auto insurance carriers. **Based on year-end 2023 internal Hagerty data and member NPS scores. Membership by Hagerty Drivers Club (HDC), a non-insurance subsidiary of The Hagerty Group, LLC. Roadside services provided by/thru Cross Country Motor Club except in AK, CA, HI, OR, WI & WY where services are provided by Cross Country Motor Club of California, Inc. For additional information and a complete description of benefits, visit Purchase of insurance not required for membership in HDC. Policies underwritten by Essentia Insurance Company. Hagerty Drivers Club, Hagerty, DriveShare, Speedwaiver & RaceHero are registered or common law 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.