Classic car insurance comparison · Updated September 2026

Hagerty vs American Modern Classic Car Insurance: Which Classic Car Policy Fits You?

Hagerty and American Modern both insure collector cars on an agreed value basis, but they are built and sold differently.

Hagerty vs American Modern is one of the most common classic car insurance comparisons, because both insure collector cars for an agreed value instead of a depreciated cash value. The real differences are in how each program is sold, how much you can drive, what's included, and how the deductible works. This guide lays those differences out side by side so you can choose with confidence.

Hagerty is a specialty agency best known for its Guaranteed Value policy, valuation tools, and Hagerty Drivers Club. American Modern is an insurance group owned by Munich Re that sells its collector vehicle program through independent agents. Both are strong options. Which one fits depends on your car, how often you drive it, and the extras you want.

Reviewed by Blake Nwosu, owner and principal agent, Blake Insurance Group LLC · Updated September 2026

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Our classic auto quote form takes a few minutes. We review your car, how you drive it, and where it's stored, then help you compare the collector car options available to you. Availability depends on underwriting and your state.

The short answer

Hagerty vs American Modern: the quick verdict

If you want a flexible usage policy without a published mileage number, a Guaranteed Value that includes sales taxes and fees where allowed, and enthusiast extras such as Cherished Salvage and coverage for a car under construction, Hagerty is usually the first quote to get.

If you like picking a defined mileage plan, want a wide deductible range, or want a long list of included extras such as disaster relocation, travel loss, and pet protection, American Modern deserves a side-by-side quote. It also offers a stated value option and comprehensive-only coverage, which can help while a car sits for restoration.

For many owners the right answer comes down to price for the same agreed value and limits. Premiums vary by car, state, and driver, so the only reliable way to compare is to quote both with identical coverage.

Hagerty may fit best if…

You drive for pleasure on a flexible schedule, want your agreed value to include taxes and fees, or have a project car that's gaining value as you work on it.

American Modern may fit best if…

You want a set mileage plan, a specific deductible, extras like disaster relocation and travel loss built in, or you plan to title the car to a trust or LLC.

Side by side

Hagerty vs American Modern: side-by-side comparison

The table below summarizes each program using its public website, a Classic Automobile Insurance page describing the American Modern program, and published reviews. Treat it as a starting point. Terms vary by state and change over time, and your quote documents always control.

Hagerty vs American Modern collector car programs, based on public program information (September 2026)
Feature	Hagerty	American Modern
Company	Hagerty Insurance Agency, LLC; writing collector coverage since 1984	American Modern Insurance Group, Amelia, Ohio; part of Munich Re
Underwriting	Essentia Insurance Company (Hagerty sets final risk acceptance)	American Modern Insurance Group companies; sold through independent agents
Valuation	Guaranteed Value, an agreed value that includes sales taxes and fees where state law allows	Agreed value including taxes and fees, less any deductible; a stated value option is available
Mileage and use	No published mileage cap; an independent 2026 review reports agent guidelines near 3,500 miles, with up to 7,500 considered	Mileage plans that start at 1,000 miles a year; agents list 1,000, 3,000, and 6,000 mile plans
Driver rules	Every licensed household member needs a regular-use vehicle; serious violations in the last 3 years usually disqualify (per a 2026 independent review)	Set by underwriting; title can be held by an individual, trust, LLC, or corporation
Storage	Enclosed, secure storage preferred; driveway and carport storage restricted in some states	Locked garage or building required
Deductible	Varies by policy; any deductible is subtracted from a total-loss payment	Options reported from $0 to $10,000
Notable extras	$750 spare parts; up to $10,000 auto show medical; Cherished Salvage (not in NY); Vehicle Under Construction	Included: spare parts, towing and emergency expenses, travel loss, disaster relocation, full glass, pet protection
Newly bought cars	30 days, up to $50,000, for a newly bought collectible	Automatic coverage up to $50,000; add the car within 30 days
Repair shop	You choose the shop or do the work yourself	Handled through the carrier's claims team; confirm shop choice with your agent
Availability	All 50 states and D.C. (per CNBC Select); some coverages vary by state	Licensed in all 50 states

Notice that both programs pay an agreed amount after a covered total loss. Where they part ways is the fine print: Hagerty folds sales taxes and fees into its Guaranteed Value where state law allows, while American Modern's agreed value payout is described as inclusive of taxes and fees and then reduced by any deductible. Ask both for a written example of how a total loss would be paid on your car.

Who qualifies

Eligibility, mileage, and storage rules compared

Neither program is designed for a car you drive to work every day. Hagerty describes its coverage as flexible occasional pleasure use, such as a cruise to the ice cream shop or a weekend show, and says that doesn't include daily commuting, school runs, or routine shopping. An independent 2026 review of Hagerty reports that every licensed driver in the household needs a regular-use vehicle and that serious violations in the last three years usually disqualify a driver.

American Modern is more explicit about miles. Agents who write the program list annual mileage plans of 1,000, 3,000, and 6,000 miles, and MarketWatch describes plans from 1,000 miles up to unlimited. If you drive a set amount each season, picking a plan can make your coverage easy to understand. If you're unsure how much you'll drive, Hagerty's flexible approach may feel simpler.

Storage matters with both. American Modern requires a locked garage or building. Hagerty prefers enclosed, secure storage, and the same review reports that driveway storage isn't allowed in California, Colorado, Florida, or Hawaii and that carport storage has limits in some states. If your car lives outside a locked garage, read our guide to classic car insurance without a garage before you apply.

American Modern lets the title be held by an individual, trust, LLC, or corporation, which helps collectors who own cars through an entity. Hagerty's underwriters review storage and driver eligibility case by case, so bring complete information to the quote.

Coverage details

Agreed value, extras, and claims compared

Hagerty's standout extras are aimed at enthusiasts. Its policy features include $750 of spare parts coverage, up to $10,000 in auto show medical payments, and 30 days of coverage up to $50,000 for a newly bought collectible. Cherished Salvage lets you keep a totaled car and still receive the full Guaranteed Value, though Hagerty notes it isn't available in New York. Vehicle Under Construction raises the insured value 10% per quarter, up to $25,000, while a car is being worked on.

American Modern builds more everyday protections into the base program. Its policyholder page lists spare parts, towing and emergency expenses, travel loss, disaster relocation expenses, full safety glass, personal effects, and pet protection as included coverages, with options such as appreciation of value security, trailer physical damage, and automobilia. A newly added car is covered automatically up to $50,000 if you add it within 30 days.

For claims, Hagerty says its claims specialists are car enthusiasts and that you can choose the repair shop or do the work yourself. American Modern handles claims through its own team; ask your agent how shop choice and parts sourcing work in your state. Both approaches can work well. What matters is that the adjuster understands the value of original parts and correct restoration work.

Tip: ask each program whether its agreed value payout includes taxes and fees in your state, how the deductible applies to a total loss, and whether you can keep the car after a total loss.

Match the program to the car

Which program fits your classic car?

Use these common situations as a guide, then confirm with real quotes.

A weekend cruiser driven a few thousand miles a year: quote both. Hagerty's flexible use and American Modern's 3,000-mile plan often land close together.
A car that tours or travels often: compare Hagerty's flexible use with American Modern's higher mileage plans, and check travel loss and towing limits.
A restoration in progress: Hagerty's Vehicle Under Construction feature and American Modern's comprehensive-only option both deserve a look. See our classic car restoration insurance guide.
A car owned by a trust or LLC: American Modern states that entity-titled cars can be covered, so start there and confirm Hagerty's rules at quote.
A collection of several cars: ask both about multi-car pricing and automatic coverage for new purchases.

If neither program accepts the car or the way you drive it, a standard auto policy or another collector program may be the better fit. We'll tell you when a classic program isn't the right tool.

Take the next step

How to compare quotes from both

Blake Insurance Group is an independent agency. We'll review your car, your driving, and your storage, then help you compare the collector programs available to you in your state. Carrier availability depends on underwriting.

Decide the value you want to insure and gather receipts, photos, or an appraisal that supports it.
Write down how you really drive the car: miles per year, shows, tours, and any trips to work.
Confirm where the car is parked overnight and whether that space is locked and enclosed.
List every licensed driver in your household and the everyday vehicle each one drives.
Ask each program to quote the same agreed value, liability limits, and deductible so the prices line up.
Read the mileage, storage, and usage wording before you buy; those rules decide claims.

Get a classic car quote Call (888) 387-3687

Common questions

Frequently asked questions

Is Hagerty cheaper than American Modern?

Neither is always cheaper. Price depends on the agreed value, your state, drivers, storage, mileage, deductible, and liability limits. Quote both with identical coverage to see the real difference.

Does American Modern have a mileage limit?

Yes. Agents that write the program list 1,000, 3,000, and 6,000 mile annual plans, and some sources describe an unlimited option. Confirm available plans in your state at quote.

Does Hagerty limit how many miles I drive?

Hagerty doesn't publish a mileage cap and describes flexible occasional pleasure use. It doesn't cover daily commuting or routine errands. An independent 2026 review reports internal guidelines near 3,500 miles, with up to 7,500 considered.

Who underwrites Hagerty and American Modern policies?

Hagerty says its classic car policies are underwritten by Essentia Insurance Company. American Modern policies are written by insurers in the American Modern Insurance Group, part of Munich Re.

Can I keep my car after a total loss?

Hagerty offers Cherished Salvage, which lets you keep the car and receive the full Guaranteed Value, except in New York. Ask American Modern about salvage retention in your state.

Do I need a garage for either policy?

American Modern requires a locked garage or building. Hagerty prefers enclosed, secure storage and restricts driveway and carport storage in some states.

Keep researching

Related guides and official sources

These Blake Insurance Group guides cover related coverage questions.

We checked the rules on this page against these official and industry sources in September 2026:

Hagerty: Classic and collector car insurance (external site)
Hagerty: Classic car insurance policy features (external site)
VantagePoint Risk: Hagerty insurance review 2026 (external site)
American Modern: Collector vehicle insurance (external site)
Classic Automobile Insurance: American Modern collector car program (external site)
MarketWatch Guides: Best classic and collector car insurance (external site)

Coverage disclosure: Blake Insurance Group LLC is an independent insurance agency. This page compares publicly available program information from each company's website and published reviews as of September 2026. Eligibility, mileage plans, agreed values, deductibles, included extras, and availability are set by each company and its underwriting insurers, vary by state, and can change. This page is general information, not a policy, a quote, or legal advice. Your policy documents control your coverage. Carrier and program names are trademarks of their owners and are used for identification only; this page is not operated by or affiliated with any company compared here.

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