Why choose a specialized insurer for your classic car?

As a car collector or simply the owner of a car that is dear to you, there are many reasons to call on a specialized insurer to protect your precious asset. After all the effort you put into caring for it and all the fun you have in admiring it, displaying it and enjoying it on the road, it only makes sense to want the best cover.

Been to Hagerty? It is the largest auto insurer specializing in classic and collectible cars in the world. Established in 2009 and doing business with Aviva, its Canadian division operates in all 10 provinces and has thousands of customers.

Hagerty uses its appraisal expertise to agree on the fair value of a car and, in the event of total loss or theft, this is the amount that is paid. This is what the company calls its “Guaranteed Value” insurance.

In addition, its claims adjusters are aware of the repair of classic vehicles and they will do everything to ensure that yours is repaired according to the rules of the art, without shortcuts and without skimping on parts. You can choose the repair shop or get recommended one that is trustworthy.

Finally, being specialized in classic car insurance, Hagerty offers premiums that are on average 41% cheaper than those of ordinary car insurers.

Photo: Frederic Mercier

Privileges and extras

That’s not all. As they say, it’s often the little details that make the difference, especially for car enthusiasts. For example, each Hagerty insurance policy includes $750 for replacement parts, $500 for protective covers, $2,000 in rewards for assistance in recovering the stolen vehicle, and automatic coverage up to $50,000 for newly acquired collector vehicles.

Then there are optional coverages, such as the Valuable Vehicle Salvage Endorsement, Vehicle Under Refurbishment Endorsement, Emergency Evacuation Expenses Endorsement.

Other names to consider

Of course, Hagerty is not the only insurer specializing in classic and collectible cars. In Canada, other established companies offer similar services and policies. We can think for example of Billyard, Rogers, Alpine or Armour.

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