New collector car policy offers unique coverage options for enthusiasts in Michigan and Illinois.
The Hanover Insurance Group has partnered with Hagerty to launch a new insurance product tailored specifically for classic and collector car owners, expanding protection options for auto enthusiasts in select U.S. markets.
Announced Thursday, the joint offering—Hanover Collector Car, powered by Hagerty—combines Hagerty’s deep expertise in vintage and collector vehicles with The Hanover’s comprehensive account protection services. The new policy is now available through independent agents in Michigan and Illinois, with plans to expand into additional states in the near future.
“Joining forces with The Hanover supports collectible car owners who want to protect the vehicles that mean so much to them,” said Nick Cassell, vice president of Hagerty’s insurance business partnerships. “We look forward to working with their exceptional network of agents to help more owners find tailored protection for their prized vehicles.”
The Hanover Collector Car policy is designed to cover a broad range of specialty vehicles, including antique and classic cars, limited-edition vehicles, modified and replica cars, as well as classic pickup trucks, jeeps, and SUVs. Coverage extends to transport trailers and includes several features not typically found in standard policies.
Among the standout features:
- Cherished Salvage Coverage: Allows the owner to retain a totaled vehicle while still receiving the full insured value.
- Blanket Personal Property Coverage: Protects spare parts and automotive tools.
- Vehicle Under Construction Coverage: Increases insured value during a restoration project by 10% per quarter, up to $25,000 annually.
Brad McCreedy, vice president of personal lines strategy at The Hanover, emphasized the collaboration’s customer benefits. “Protecting customers’ most precious assets with one carrier is critical for peace of mind,” he said. “This partnership strengthens our total account offerings with a level of expertise in the classic car market that only Hagerty can provide.”
The announcement follows The Hanover’s recent appointment of Richard W. Lavey as chief operating officer—a newly created role—as the company looks to broaden its strategic footprint in specialty insurance markets.
