Hagerty in Canada

351CFalcon

Well-Known Member
Supporting Member
New Hagerty Insurance Program in Canada

Yes, this topic again.

I'm just going through a renewal on the HRT.

According to my insurance broker, the Silver Wheel (for bone stock classics) Custom Wheel ( for modified vehicles) and Hagerty's Canada Collector Car plans have all been merged into one new plan, taking the best from each one.

Aviva who was the underwriter for the three plans has now given Hagerty total administration of the the new plan while still being underwriter.

The new plan is for those provinces that do not have gov't run insurance, and those gov't run insurance programs that have opted out of Collector Car agreed to value insurance (i.e. ICBC):

The coverage on the policy includes:
$2 Million Liability,
AccidentBenefits/Family Protection Plan,
$100 deductible Collision, $100 deductible Comprehensive, ($1000 deductible for both is recommended to keep the premiums reasonable).
SEF 19A Valued Vehicle coverage (insures vehicle for full agreed value, no depreciation on claims);
no mileage restriction,
coverage in Canada and visiting the USA**

**The coverage for flatbed towing can be added to the policy at a rate of
$60 per vehicle per year. See below for more details.

There are restrictions on the insurance and they include:
1) All drivers must be licensed for 10 continuous years or more,
2) The vehicle(s) are not daily drivers getting to and from work/school or used for business***;
3) No decals on the vehicle,
4) No towing, hauling, garbage runs or off road use on collector trucks or jeeps and
5) Drivers cannot have more than 2 minor tickets on their drivers license.

***Occasional pleasure use does not mean use for daily driving to and from work or school, routine shopping, etc.

As for the Spare Parts coverage, Hagerty does not have a
separate coverage for Canadian policies however can include spare parts
as part of the value insured for the vehicle. For example if you have a
vehicle valued at $20000 and spare parts valued at $5000, the total amount
to insure your vehicle is $25000. You will be required to keep a list of
spare parts, the part's value and any serial numbers that may be on the
part.
The above is a big change as the Silver Wheel and Custom Wheel plans did have some coverage for spare parts without any restrictions.

Hagerty Plus program for $60 per year per vehicle:

Guaranteed flatbed with soft straps (no hooks or chains), 80 KMs maximum per event
Dispatch operators who understand and care about classic cars
24 hours a day, 7 days a week coverage in Canada and U.S.
Dispatch for lockouts, battery jumps, tire changes & emergency fuel delivery, etc.
(The last three items have a $125 coverage per event.)
Unlimited number of emergency events per year
Trailer-towing included
Support of the Historic Vehicle Association (HVA) & Collectors Foundation​
A free Hagerty magazine

Choices are getting limited in Canada as the insurance pool is just too small for other underwriters to carry Collector Car plans. Insurance is about spreading the risk over many people, not just a few.
Hence more and more insurance brokers are now converting their Car collector clients over to the Hagerty program.
 
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