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About Hagerty
Industries
Automotive & Transportation
Consumer Goods
Company Size
11-50
Company Stage
IPO
Headquarters
Traverse City, Michigan
Founded
1983
Overview
Hagerty specializes in services for classic and collector car enthusiasts, offering tailored insurance policies that consider the unique value and usage of vintage vehicles. Their insurance is designed specifically for classic car owners, providing better coverage and competitive rates compared to standard auto insurance. In addition to insurance, Hagerty has a membership program that includes benefits like roadside assistance, access to exclusive events, and discounts on automotive products. The company also fosters a strong community through content creation, such as articles and virtual car shows, which helps engage car lovers and build loyalty. By focusing on the classic car market, Hagerty differentiates itself from competitors by catering to a dedicated clientele that views their vehicles as investments and pieces of history. The company's goal is to support and connect car enthusiasts while providing specialized services that enhance the ownership experience.
Simplify's Take
What believers are saying
- Collaboration with The Hanover enhances Hagerty's specialized insurance offerings for classic cars.
- Securing a $375 million credit facility strengthens Hagerty's financial position for future growth.
- Increased interest in electric classic cars creates a new niche for Hagerty's services.
What critics are saying
- Digital-first insurers offering lower premiums could erode Hagerty's market share.
- Rising popularity of electric vehicles may reduce interest in classic cars.
- Economic downturns can decrease discretionary spending on classic cars and related insurance.
What makes Hagerty unique
- Hagerty specializes in insurance for classic and collector cars, unlike standard insurers.
- The company offers a membership program with perks like roadside assistance and exclusive events.
- Hagerty engages its community through content creation, including articles, videos, and virtual shows.
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Funding
Total Funding
$1299M
Above
Industry Average
Funded Over
4 Rounds
Benefits
Remote Work Options
Health Insurance
Dental Insurance
Vision Insurance
Paid Sick Leave
Paid Holidays
Company News
WORCESTER, Mass., April 9, 2025 /PRNewswire/ - The Hanover Insurance Group, Inc. (NYSE: THG), a leading national insurance provider for individuals, families and businesses, today announced a collaboration with Hagerty (HGTY) to provide specialized insurance for classic cars.
The U.S. Navy teamed up with Hagerty on Thursday, March 27.
The Amelia's 30th Annual Celebration Saw a Weekend of Fine Dining, Driving Experiences, Live Auctions, and the Amelia Concours D'Elegance—Showcasing Hundreds of Exquisite Vehicles from Around the WorldAMELIA ISLAND, Fla., March 12, 2025 /PRNewswire/ -- Among a distinguished field of more than 240 historically significant automobiles, spanning 35 classes, a 1938 Alfa Romeo 8C 2900 claimed the prestigious title of Best of Show, Concours d'Elegance, while a 1967 Lotus 49 was honored as Best of Show, Concours de Sport at the 30th Amelia Concours d'Elegance. Event press releases, concours results, photos and the event program can be found here.Best of Show – Concours d'Elegance: The 1938 Alfa Romeo 8C 2900 Chassis No. 412028 is believed to be one of the prototypes for the 1938 Mille Miglia. When it was restored, it was found that the car was an original short chassis model, and the engine had different characteristics than that of the Sport 8C 2.9, including a larger and different exhaust system. The car was ordered new in 1938 by the famous Italian racing champion Giuseppe Farina. It is the only 8C 2900 bodied by Farina."My husband and I won an award here together in 2020
Hagerty Inc secures $375 million credit facility.
Title sponsor Pennzoil, Forza and Hagerty are aligned perfectly with DirtFish for this year's WIM Summit
Hagerty is Hiring for 14 Jobs on Simplify!
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About Hagerty
Industries
Automotive & Transportation
Consumer Goods
Company Size
11-50
Company Stage
IPO
Headquarters
Traverse City, Michigan
Founded
1983
Hagerty is Hiring for 14 Jobs on Simplify!
Find jobs on Simplify and start your career today