If you own a Ferrari, Lamborghini, McLaren, Porsche GT3 RS, or a collection of rare and classic automobiles, a traditional auto insurance policy may not be designed for the way you own, value, and protect your vehicles.
Hagerty Private Client is designed for serious automobile collectors and high-value collections. It provides specialized insurance solutions for vehicles whose value, rarity, usage, and ownership experience can be very different from an everyday automobile.
What Types of Cars Can Hagerty Private Client Insure?
Hagerty Private Client may be an option for a wide variety of high-value and collectible vehicles, including:
- Exotic and supercars
- Modern collectible vehicles
- Classic and antique automobiles
- Limited-production vehicles
- Rare Porsche, Ferrari, Lamborghini and McLaren models
- Muscle cars
- Custom and modified vehicles
- Collector trucks and SUVs
- High-value multi-vehicle collections
- Other specialty and collectible vehicles, subject to underwriting
Examples of vehicles that may be worth submitting for consideration include:
Ferrari: SF90, 812 Competizione, 488 Pista, F40, F50 and other collectible models.
Lamborghini: Revuelto, Aventador SVJ, Huracán STO, Countach and other limited-production models.
Porsche: 911 GT3, GT3 RS, GT2 RS, Carrera GT and collectible air-cooled Porsches.
McLaren: 750S, 765LT, Senna, P1 and other limited-production models.
Collectors with rare Aston Martins, Ford GTs, Mercedes-Benz classics, vintage European automobiles, American muscle cars and other specialty vehicles may also qualify.
Every vehicle and collection is subject to Hagerty’s underwriting requirements.
Modern Supercars Can Be Collector Cars Too
A collector car doesn’t necessarily have to be 30, 40 or 50 years old.
Hagerty has programs for certain 1980-and-newer limited-production, exotic and supercars, meaning a newer vehicle may potentially qualify based on factors such as its rarity, collectibility, condition, value and usage.
This can be particularly important for owners of modern exotic cars that may not fit neatly into either a conventional auto insurance policy or a traditional “classic car” program.
Guaranteed Value® Coverage
One of the most important differences between collector-car insurance and conventional auto insurance is how the vehicle’s value is handled after a covered total loss.
Hagerty offers Guaranteed Value® coverage.
Rather than treating a rare collector vehicle exactly like an ordinary depreciating automobile, the insured and Hagerty agree upon a value for the vehicle when the policy is written.
For a collector with a rare Ferrari, Porsche or other appreciating vehicle, establishing the correct insured value can be extremely important.
Market Appreciation Coverage
Collector vehicles don’t always depreciate.
Some can appreciate significantly—and sometimes quickly.
Hagerty Private Client offers Market Appreciation Coverage, which may provide up to 150% of the vehicle’s insured value following a covered total loss when the vehicle’s collector-market value has increased, subject to the policy’s terms and conditions.
For owners of rapidly appreciating collector cars, this is an important feature to consider.
Newly Acquired Collector Cars
Serious collectors often buy vehicles quickly.
You may find the right Ferrari at an auction, purchase another Porsche for the collection, or acquire a rare automobile privately without having days to arrange insurance beforehand.
Hagerty Private Client provides automatic coverage for qualifying newly acquired collector vehicles for a limited period.
According to Hagerty, a newly acquired collector vehicle may receive automatic coverage for 90 days, generally up to the equivalent of the highest-valued vehicle already insured, subject to a maximum of $5 million, or the purchase price if less, and subject to policy provisions.
That can be a valuable feature for active collectors.
What About a Multi-Million-Dollar Car Collection?
This is where a specialized private-client program becomes particularly valuable.
Consider someone who owns:
- Ferrari SF90
- Ferrari 488 Pista
- Lamborghini Revuelto
- Lamborghini Aventador SVJ
- Porsche 911 GT3 RS
- McLaren 765LT
- Several vintage Ferraris and Porsches
The insurance needs of this household are very different from someone insuring two everyday vehicles.
A collector may need help with:
Agreed vehicle values
Each automobile needs to be valued appropriately.
Appreciating assets
Certain vehicles may increase substantially in value between policy renewals.
New acquisitions
Collectors frequently buy and sell vehicles.
Transportation and events
Vehicles may be transported to shows, rallies, concours events, auctions or other collector events.
Claims expertise
Damage to a rare automobile requires a different level of expertise than repairing an ordinary production vehicle.
Hagerty Private Client is specifically positioned to work with sophisticated collectors and high-value automobile collections.
Can You Daily Drive a Hagerty-Insured Collector Car?
This is an important consideration.
Collector-car insurance is generally not intended to replace ordinary auto insurance for a vehicle that is regularly used for commuting or everyday transportation.
Eligibility depends on the particular vehicle, driver, usage, storage and underwriting requirements.
For many households, the appropriate structure may therefore be:
Regular-use vehicles → Traditional auto insurance
Collector/exotic vehicles → Specialized collector-car insurance
We review how each vehicle is actually being used before recommending a coverage structure.
Storage and Security Matter
With high-value vehicles, insurers may consider where and how the collection is stored.
Depending on the value and circumstances, underwriting may evaluate factors such as:
- Enclosed garage or secure storage
- Location
- Vehicle usage
- Driver history
- Number and value of vehicles
- Security measures
- Overall collection profile
A $3 million collection stored in a secured private facility is a very different risk from several exotic cars routinely parked outdoors and driven every day.
Is Hagerty Private Client Right for You?
It may be worth considering if you own multiple collector vehicles, rare classics, exotic automobiles, limited-production cars or a substantial automobile collection.
At StarWest Insurance Services, we can help review your current automobile insurance and determine whether conventional coverage or a specialized collector-car program is more appropriate for your vehicles.
We can also review the overall insurance structure—not simply the price.
For high-net-worth households, protecting a vehicle collection may also need to be coordinated with homeowners, excess liability/umbrella, valuable property and other personal insurance coverage.
Own a Ferrari, Lamborghini, Porsche, McLaren or Collector-Car Collection?
Let us review it.
Whether you own one special vehicle or a multi-million-dollar collection, we’ll help determine what type of insurance program is appropriate for the way you actually own and use your automobiles.
StarWest Insurance Services
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Serving California insurance clients since 1995.
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Contact StarWest Insurance Services for a personalized collector and exotic vehicle insurance review.
Coverage availability, eligibility, limits and terms are subject to carrier underwriting, policy provisions and state availability. Vehicle examples are illustrative and do not guarantee acceptance or coverage by Hagerty.