The Hanover and Hagerty Team Up for Collector Car Insurance
Collaboration to Protect Classic Car Enthusiasts
The Hanover Insurance Group, Inc. (NYSE: THG), a prominent national insurance provider, has recently announced an exciting collaboration with Hagerty (NYSE: HGTY), a company renowned for its dedication to automotive enthusiasts. This partnership aims to deliver specialized insurance tailored specifically for collector cars, a move that will undoubtedly resonate with car aficionados everywhere.
Understanding the New Offering
Named the "Hanover Collector Car, powered by Hagerty," this unique insurance product merges the trusted coverage of The Hanover with Hagerty's deep expertise in claims handling and vehicle valuation. Brad McCreedy, vice president of personal lines strategy at The Hanover, emphasized the importance of protecting customer assets, stating, "We believe protecting customers' most precious assets with one carrier is critical in helping them gain true peace of mind." This collaboration is set to enhance the customer experience by integrating the best features from both companies.
According to McCreedy, the relationship with Hagerty enriches The Hanover’s offerings, allowing them to deliver a seamless business experience coupled with exceptional claims service. This means car owners can enjoy both peace of mind and comprehensive support when they choose Hanover Collector Car insurance. It represents a perfect blend of comprehensive coverage and specialist knowledge catered to the unique needs of collector vehicle owners.
Availability and Future Expansion Plans
Currently, the Hanover Collector Car insurance is accessible through The Hanover's independent agents based in select regions. While it is initially available to customers in Michigan and Illinois, the company has expressed intentions to broaden its reach, thereby making it available in more states in the near future.
Nick Cassell, Hagerty's Vice President - Insurance Business Partner, expressed enthusiasm about the partnership, stating, "We believe that joining forces with The Hanover further supports collectible car owners who want to protect the vehicles that mean so much to them." This sentiment underscores a mutual commitment toward safeguarding classic vehicles, which hold significant emotional and monetary value for many owners.
About the Companies Involved
The Hanover Insurance Group, Inc. stands as a major holding company for various property and casualty insurance providers in the United States. Leveraging a strong network of independent agents and brokers, the company addresses the insurance needs of both businesses and individuals. Their portfolio includes a range of products designed to offer superior coverage for homes, automobiles, and more.
On the other hand, Hagerty has established its brand as a beacon for automotive enthusiasts, dedicated to preserving car culture through specialized vehicle insurance, live and digital auction services, and unique automotive events. With over 850,000 members in their Hagerty Drivers Club, they foster a vibrant community passionate about cars.
Why This Collaboration Matters
The partnership between The Hanover and Hagerty is significant as it showcases a deep understanding of the collector automobile market and addresses the specific insurance requirements of this niche. Owners of collector cars often face unique challenges in maintaining and insuring their prized possessions. With this new offering, it not only enhances the insurance landscape but also ensures that the vehicles' value is preserved and understood.
In an era where customized solutions are in high demand, Hanover Collector Car insurance powered by Hagerty emerges as a game changer. This collaboration promises to provide classic car owners with the utmost confidence that their investments are protected by knowledgeable experts in the field.
Frequently Asked Questions
What is the Hanover Collector Car insurance?
The Hanover Collector Car insurance is a specialized coverage option for classic and collectible vehicles, combining the expertise of The Hanover Insurance Group with Hagerty's insurance solutions.
Who can purchase this insurance?
The insurance is currently available through The Hanover's independent agents to customers in Michigan and Illinois, with plans for future expansion into other states.
What makes this insurance different?
This insurance is tailored specifically for classic cars, emphasizing protection and services that cater to the unique needs of collectors.
What benefits do customers gain from this product?
Customers benefit from comprehensive coverage, peace of mind, and support from specialists experienced in the collector vehicle market.
How can I learn more or get this insurance?
To learn more about Hanover Collector Car insurance, interested parties can reach out through independent agents associated with The Hanover.
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