This article was produced in partnership with Hagerty.
Getting older doesn't mean going out of style. In fact, where classic cars are concerned, it’s quite literally the opposite. One Provider who appreciates this better than most is Hagerty. Founded by car lovers for car lovers, Hagerty is passionate about creating comprehensive insurance policies to offer peace of mind for those who take the road less travelled.
Part of this commitment to care can be seen in their recently launched Cars You Should Know” (CYSK) series – an in-depth collection of the ins and outs of popular classic car models, offering brokers a peep under the proverbial bonnet. Speaking to IB, Todd Hutcheson, VP of Hagerty Canada, explained that the CYSK initiative was created out of a real desire to assist brokers in identifying collector vehicles – whilst simultaneously pinpointing models that could be eligible for speciality polices.
“Defining a collector often is associated with design and performance, rarity, historical significance, and arguably the most influential; cultural appeal and personal affinity. That being said, spotting a collector car in conjunction with offering specialty coverage is not just based on year of production. For this year, our “Cars You Should Know” (CYSK) series is designed to share key information about quoting and valuation trends to help you better identify and serve your clients.”
Hagerty continues to see a positive emergence of a younger demographic falling in love with the lifestyle of owning a collector car, something that’s exciting for the future of classic car ownership and the hobby at large. Recent reporting from Hagerty’s valuation and quote data, as well as the sentiment from automotive events across Canada has inspired their CYSK series in the first place.
A key feature of this series is Hagerty’s inclusion of ‘forgotten classics’. As Hutcheson explained, this addition really helps to enhance a broker’s expertise making it easier to build rapport with classic car owners, inevitably providing a positive onramp into other specialty and core insurance needs.
“At its core, collector cars are often a reflection of personality, nostalgia, personal sentiment, or frankly the amount of fun to be had behind the wheel,” Hutcheson said. “This often equates to quite a number of Year/Make/Model vehicles that may have been produced in more limited capacities, that to some are easily forgotten, but to others represents fond memories and future adventures. We will make sure to highlight a number of great “forgotten classics” in our “Cars You Should Know” (CYSK) series. You might just wow your next client as a result.”
Second to passion and unparalleled sector knowledge, data plays a crucial role in Hagerty’s strategy. As Hutcheson told IB, quoting trends and valuation data often can be viewed as an emerging indicator in terms of ongoing popularity of various collector vehicles.
“For example, approximately five percent of all Hagerty’s policy quotes in 2024 were for a Pontiac. And for the four models we featured in our Cars You Should Know: Pontiac article, 53% of those quotes were from Gen X and younger (people born after 1964),” he said.
“At Hagerty, we take great pride in not only curating collector car data, but sharing it with our partners to empower them when discussing different coverages with their clients. In addition, we ensure that valuation data is embedded into our quote process ensuring brokers can have seamless interactions with their clients about that beloved collector vehicles.”
Looking ahead to the future of Hagerty, brokers, and the classic car market at large, Hutcheson told IB that his team is constantly seeking new ways to engage with brokers, empowering them with the tools and resources they need to feel confident when opening the proverbial 'garage door' to a new client relationship.
“Our business development team at Hagerty continues to see success with broker partners through meaningful initiatives which identify clients who own these increasingly popular collector cars, widely highlighted in the “Cars You Should Know” (CYSK) campaign,” he said. “We welcome the opportunity to provide insights to brokers to both identify and underpin meaningful conversations with their clients in an effort to offer a more tailored insurance solution for that beloved collector car.”
Discover how Hagerty can help improve your knowledge and build client rapport here.
