Hagerty Insurance

[Jekyll_Hyde]

I was denied coverage for my 2025 60th Anniversary GT today by Hagerty. I was surprised bc I received a quote months ago that saved me substantially. They said their insurance program for new cars is “tight”. Has anyone else had this experience? Are there other “car enthusiasts” insurers that I should consider?

Sponsored

 

[Crew4991]

Hagerty specializes in classic and collector car insurance. Their eligibility requirements are specific to the model. They probably used the word "tight" to you when it comes to new cars like a 2025 60th Anniversary GT to not offend you since it probably doesn't fit into their definition of classic nor collector; they think it will likely depreciate past it's owners perceived value.

If it is a garage queen, you could try Grundy Insurance or American Modern, other enthusiast car insurance companies out there with agreed upon value estimates.
Realistically, you may end up with a low mileage limited policy from State Farm, Farmers, or Liberty Mutual.

 

[GhastlyTT]

Weird. I insure my Dark Horse through them. They even have my list of mods and know that I use it for autocross etc.

 

[Alan Applegate]

I live in New Mexico. The state owns the honor of having the highest vehicle insurance increase among the continental 48. If memory serves, so far this year it is up nearly 40%. I suspect all insurance companies are on the rise too.

 

[Starship Enterprise]

Try Erie. They have some of the best rates. I’m just under $1,100 a year. Not cheap, but cheaper than many.

 

[System]

I was able to insure my 2025 with Hagerty without issue. I'm wondering if you selected too much annual mileage? I initially said 5k and it kicked it back as "higher than average." Changed it to 4k and it went through without issue (which in reality is plenty for me.) Saved me about $350 over what my DD carrier quoted. Plus it's not ACV but agreed value so if anything happens, I'm covered for the full amount. Under a grand a year valued at 68k.

 

[Jekyll_Hyde]

I did select too many miles. They also didn’t like the fact that I had a 19 and 17 year old, although they have their own cars and DON’T drive my car. It’s fine with me, I told them they lost the coverage of my future 1967 GT500!!

 

[dusman59]

I have two cars insured through Hagerty. 2011 GT and a 2024 GT. Something may have to do with past records and I believe locations the car will be used.

 

[Starship Enterprise]

One thing I am looking into tomorrow. I added this new car to our 2 car plan, and just adding my car increased my wife’s insurance $250 annually. My 06 Gt was only $380 a year…Now it’s $1,100. But it shouldn’t have changed my wife‘s rate. WTH?!?

I’ve been hearing for years directly from insurance companies, that it can be hard to insure a high performance sports car, especially if you are a new customer.

The way things are, we’re supposed to feel honored to have the privilege of letting them insure us…even if we have a good record.

 

[erocker]

I go through Grundy for both my cars. $650 for the year for my Lexus and $875 for my Mustang. My rates actually went down a little this year! Just wish I'd gone with them sooner.

 

[Germansheperd]

I did select too many miles. They also didn’t like the fact that I had a 19 and 17 year old, although they have their own cars and DON’T drive my car. It’s fine with me, I told them they lost the coverage of my future 1967 GT500!!

Telling them they lost coverage of your future 1967 GT500 had them quaking in their boots I’m sure- unbelievable.
”They” didn’t loose anything, they told you to kick rocks.

 

[Starship Enterprise]

I go through Grundy for both my cars. $650 for the year for my Lexus and $875 for my Mustang. My rates actually went down a little this year! Just wish I'd gone with them sooner.

Wow that’s a great rate! I’m calling our ins. Co. today and try to figure out the gouging we got. We got decent rates until our policy revised with the purchase of my car.

 

[ridgebackpilot]

You guys who are quoting low insurance premiums (at or below $1000 per year) on your Mustangs need to specify your coverage. Absent that, we can't tell if you're getting a good deal or not.

I'm guessing you have well under $1M in liability coverage along with high deductibles. I just added my 2025 GT Premium to my State Farm auto policy, which is bundled with my other cars and homeowners insurance. My premium for the Mustang is over $2000 per year due to my high coverage limits. With less coverage, my premiums would be a lot lower as well.

 

[Starship Enterprise]

Yes, there’s a ton of factors, including annual mileage, garage kept, location, driving record, etc. etc. before we even figure in coverage and deductibles.

My rate is $300,000 liability with average $250 in various deductibles. Much lower liability coverage than your policy.

 

[Jekyll_Hyde]

Thank you for your constructive posts. I have coverage for my girl with my 3 family cars, but was surprised Hagerty went from an offer at $2000 a year to a denial. I agree many factors come into play including their financial performance and current economy dynamics.

I agree new cars aren’t their model and they’re trying to identify their ideal risk, but their comfort zone is classic cars with owners that drive to car shows.

I’ll explore options suggested here, so thanks. For the negative trollers, you keep being you.

Sponsored