Before You Insure That Classic—Read This or Regret It

You did it. You finally have it. The ’69 Mustang Mach 1 you’ve dreamed about since you were sixteen. Or maybe it’s a cherry-red ’57 Bel Air that’s more art than automobile. It’s not just a car; it’s a story, a passion, a piece of your soul sitting on four wheels in your Frisco garage.

Now comes the not-so-fun part: protecting it.

If you’ve spent any time in the classic car world, one name echoes louder than a V8 with a glasspack exhaust: Hagerty.

And if you’re like most enthusiasts, you’ve probably typed something like “best classic car insurance,” “is Hagerty worth it,” or “agreed value car insurance in Frisco” into Google more than once. You see their magazine. You see their logo at every major car show. The name has become almost synonymous with collector car protection.

But here’s the question we need to answer, enthusiast to enthusiast: Is Hagerty auto insurance really the undisputed king, or is it just the best-known player in a much larger game?

Well, here’s the thing. Hagerty has built an incredible brand, and for some people, their policy is a decent fit. But for many owners here in North Texas—with our unique risks, vibrant car culture, and specific needs—hitching your wagon exclusively to Hagerty can leave you surprisingly exposed.

Let’s break this down. At The Agent’s Office®, we live and breathe this stuff. We’re not just insurance people; we’re car people. We’re going to pull back the curtain on Hagerty, explain the critical concept of “Agreed Value,” and show you why having a local, independent expert in your corner is the single best modification you can make to your collector car experience.

Agreed Value vs. Actual Cash Value: The Single Most Important Term You Need to Understand

Before we go any further, let’s nail down the one concept that underpins all specialty auto insurance: Agreed Value.

Insuring your 1968 Camaro with a standard auto policy is like trying to wear a wetsuit to a wedding. It’s just the wrong tool for the job. Why? Because standard policies are based on Actual Cash Value (ACV).

• Actual Cash Value (ACV): This is what your daily driver has. In the event of a total loss, the insurance company pays you what your car was worth the second before the crash. That means they take the original value and subtract depreciation—for mileage, wear, tear, and age. For a 10-year-old Honda, that makes sense. For a meticulously restored classic, it’s a financial disaster. Your ’69 Camaro isn’t depreciating; it’s appreciating.
• Agreed Value: This is the game-changer. With an Agreed Value policy, you and the insurance company agree on the car’s value before the policy is even written. We look at appraisals, restoration receipts, market comparisons, and photos. We lock in a number—say, $75,000. If your car is stolen or totaled, you get a check for $75,000. Period. No arguments, no last-minute depreciation calculations.

This is the bedrock of collector car insurance and, to their credit, it’s what Hagerty and other specialty carriers are built on. But a common misconception is that only Hagerty does this well. The truth is, Agreed Value coverage is the industry standard for any reputable classic car insurer. The real difference isn’t the what; it’s the how—and the flexibility that comes with it.

Disclaimer: Policy terms, conditions, and underwriting guidelines can change. While this article is based on current information, always consult with a licensed agent or review official carrier documents for the most up-to-date details.

So, What Makes Hagerty Auto Insurance So Popular?

You have to give them credit. Hagerty has done a masterful job of building not just an insurance company, but a global brand for car lovers. When you buy a policy, you’re also buying into an ecosystem.

• The Hagerty Drivers Club®: This is their membership program, offering roadside assistance tailored for classics, a fantastic magazine, and access to automotive events.
• Market Valuation Tools: Their website is a go-to resource for tracking classic car values, which is genuinely useful for buyers and sellers.
• Community and Content: They produce endless high-quality videos, articles, and events. They’ve successfully positioned themselves at the center of the hobby.

This is why they’re the default choice for many. It feels safe. It feels like joining the right club. But is the club membership worth it if the rules don’t quite fit your lifestyle?

The Fine Print: Where One-Size-Fits-All Coverage Falls Short

Hagerty’s business model is built on a specific type of owner and a specific type of use. Their underwriting is designed to insure beautiful cars that spend most of their lives tucked away safely. If you and your vehicle fit perfectly into their box, great. If not, you might have a problem.

Here are some of the common restrictions and sticking points we see:

1. Strict Mileage and Usage Limitations

This is the big one. Classic car policies are “limited use” policies. They are not for commuting to your job in Dallas or running errands at Stonebriar Centre. Hagerty is very clear about this: the vehicle is for pleasure use, club functions, and shows.

But what does “pleasure use” mean? Can you take a spontaneous weekend trip to the Hill Country? What if you want to drive it to a special dinner in Legacy West? Sometimes, the lines can get blurry, and in the event of a claim, that ambiguity can be a problem if your usage pattern looks more like regular driving than occasional fun.

A 2022 J.D. Power study noted that customer satisfaction drops significantly when claim settlements are complicated by policy exclusions. Mileage and usage limitations are a primary area where those complications arise.

2. Garage and Storage Requirements

Hagerty, like most specialty carriers, requires your collector car to be stored in a fully enclosed, locked garage. That makes perfect sense. But here in North Texas, HOA communities in places like Frisco and Plano can have their own rules. What if your prized possession is a lifted, custom Ford F-250 from the 80s that doesn’t quite fit in a standard suburban garage?

This is where a local agent shines. We know the landscape. We work with carriers who might offer solutions for carports, private storage units, or even car lifts (“stackers”) that Hagerty’s rigid system may not accommodate.

3. Who Insures Custom and Modified Vehicles?

Do you have a restomod with a modern crate engine? A pro-street build? A highly modified muscle car?

This is another area where a single-carrier solution can be limiting. Hagerty has specific guidelines on what modifications they will or won’t accept. Highly customized vehicles, kit cars, or those with significant performance enhancements might be declined.

An independent agency, however, has access to a portfolio of carriers.

We don’t have to fit your square peg into Hagerty’s round hole. We find the carrier that built a program for square pegs.

The North Texas Reality: Hail, Theft, and Car Shows

Insuring a car in Frisco is not the same as insuring one in California or Florida. Our local environment presents unique challenges that your policy absolutely must address.

• Hail Damage: North Texas is the hail capital of the country. A single storm can turn your pristine show car into a dimpled disaster. Your Agreed Value policy should cover this, but the key is having a claims process that is fast, fair, and gets your car to the right restoration shop, not just the cheapest one.
• High-Value Car Theft: According to the Texas Department of Insurance, auto theft remains a significant issue in the DFW metroplex. Professional thieves often target high-value and classic vehicles. Having proper storage is your first line of defense, but your insurance is the ultimate backstop.
• The Car Show Circuit: From local meetups to big regional shows, driving your car is the point! But what happens if your car is damaged at a show? Or while being trailered? Your policy needs to cover “show and display” usage without silly loopholes.

We help our clients navigate these Texas-specific risks, ensuring their policy doesn’t just look good on paper but performs in the real world—our world.

So, Are There Better Alternatives to Hagerty in Texas?

The short answer is: Absolutely.

The best alternative isn’t another single company. The best alternative is a strategy. It’s partnering with an independent agent who can access all the top-rated specialty carriers and build a plan around you.

Think of it this way: Hagerty is like a department store that only sells one brand of suit. If that suit fits you perfectly, you’re in luck.

The Agent’s Office® is like a master tailor. We take your exact measurements. We listen to what you need. Then, we select the finest materials from a dozen different mills—Grundy, American Modern, Safeco, and yes, sometimes even Hagerty—to craft something that is uniquely yours.

And the best part? We often find our clients better coverage for a more competitive price because we force the carriers to compete for your business.

Frequently Asked Questions (The Quick Answers You’ve Been Searching For)

1. Is Hagerty insurance only for classic cars? Mostly, yes. They focus on classic (typically 25+ years old), collector, and exotic cars. They generally won’t insure your daily driver, and the insured vehicle cannot be used for commuting or regular errands.

2. Can you drive daily with Hagerty insurance? No. This is one of the most common misconceptions. Hagerty policies are explicitly for limited, pleasure-only use. Daily driving will void the policy and could lead to a denied claim.

3. Does Hagerty cover modifications and aftermarket parts? Yes, up to a point. They are generally fine with stock-appearing modifications and mild performance upgrades. However, heavily modified vehicles (pro-street, race mods, etc.) may be declined. This is a key area where an independent agent can find a carrier with more appetite for custom builds.

4. How much is Hagerty insurance per year in Texas? This varies wildly based on the vehicle’s agreed value, your location (Frisco rates may differ from rural Texas), your driving record, and storage. While often advertised as affordable, the average premium can range from $400 to well over $2,000 per year. The only way to know for sure is to get a quote—or better yet, let us shop multiple carriers for you.

5. What if Hagerty declines your vehicle—what’s next? This is exactly where we come in! A decline from Hagerty is not a dead end. It just means your car doesn’t fit their specific box. We work with numerous other A+ rated carriers who specialize in everything from kit cars to modified imports to antique trucks. Your next step should be calling an independent agent.

The Bottom Line: Don’t Settle for a Brand, Demand a Partner

Hagerty has earned its reputation through brilliant marketing and a solid core product. We respect what they’ve built.

But your passion project, your dream car, deserves more than just a popular brand. It deserves a perfect fit. It deserves a policy built around your life, your car, and the unique realities of being an enthusiast here in North Texas. It deserves the expertise of a local advocate who has your back.

Before you default to the biggest name, make the smarter first call. Let’s talk about your car. Let’s look at your options. Let’s build a plan that gives you what you really need: total peace of mind.

Still deciding if Hagerty’s the right fit for your classic, collector, or muscle car? Let’s talk. At The Agent’s Office®, we’ll help you compare options from all the top carriers and make sure your ride gets the protection it truly deserves. Call us today.

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