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In 1991, the company added coverage for classic cars. [7] In 2000, McKeel Hagerty, son of Frank and Louise, became CEO. [8] Under McKeel Hagerty's guidance, the company developed an automotive media arm by launching Hagerty magazine (ISSN 2162-8033), [9] covering the classic and enthusiast vehicle market. In 2020, the magazine was renamed ...
Key takeaways. Agreed value insurance policies aren’t common, but they are most often used to insure classic or antique cars whose estimated market value can’t easily be determined.
Read more: What classic car insurance covers — and doesn’t The Datsun saw 70% of interest coming from Gen X and younger collectors, per Hagerty data, with prices rising concurrently, up 138% ...
In 1995, Hagerty returned to Traverse City to help lead the company with his sisters Kim and Tammy, expanding the company’s focus beyond wooden boats and into classic and collector cars [9] Today, the company describes itself as an automotive lifestyle brand offering automotive events, media and membership services in addition to insurance. [10]
The company was founded in 1920. The company is the only insurance company in the United States to originate within the automotive industry. The holding company for National General Insurance Personal Lines is National General Holdings Corp. As of August 2016, the company was owned by Barry Karfunkel and his family.
This coverage, however, cannot apply to rental cars because the insurance company does not want to assume responsibility for a claim greater than the value of the insured's vehicle, assuming that a rental car may be worth more than the insured's vehicle. Most rental car companies offer insurance to cover damage to the rental vehicle.
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