I bought a 2023 Civic Type R. I wanted Agreed Value coverage because dealer markups mean the car is worth $10k over MSRP, but standard insurance only covers MSRP. I assumed Hagerty was only for 1969 Camaros. I was wrong. The “Radwood” generation has changed the game.
Key Takeaways
- Modern Enthusiast Cars: Hagerty, Grundy, and others now insure modern performance cars (Supra, Type R, M3, 911) if they are not daily drivers.
- The “Daily” Requirement: You must have a separate “boring” car (Daily Driver) for every licensed driver in the house. You cannot have a Type R as your only car.
- Guaranteed Value: This is the killer feature. You lock in the $55k value (even if sticker was $45k). No gap insurance needed.
- Track Day Add-Ons: It is much easier to add track day insurance to a Hagerty policy than a Geico policy.
The “Why” (The Trap): Depreciation vs. Market Hype
Standard carriers depreciate new cars the second they leave the lot.
Enthusiast cars often appreciate or hold value due to hype.
Hagerty recognizes “Market Value” (Hype), while Geico recognizes “Book Value” (Depreciation). The gap can be $15,000.
[IMAGE: Graph showing the depreciation curve of a standard Civic vs. the flat/rising value of a Type R]
The Investigation: I Called Them
I quoted a 2023 Civic Type R.
1. Geico
- Premium: $1,800/yr.
- Coverage: ACV (Depreciated). If totaled, I’d lose the dealer markup I paid.
2. Hagerty
- Premium: $1,400/yr (Cheaper!).
- Condition: Must prove I have another car for commuting.
- Coverage: Agreed Value ($55k).
- Verdict: Better coverage for less money, provided I don’t commute in it.
3. Grundy
- Premium: $1,100/yr.
- Condition: Very strict. “Pleasure use only.” No errands.
- Verdict: Cheapest, but most restrictive.
Comparison Table
| Feature | Standard Auto | Hagerty / Specialty |
| Eligibility | Any car | Must have Daily Driver |
| Value Type | Depreciated | Agreed (Market) |
| Usage | Commuting OK | Pleasure Only |
| Mods | Discouraged | Accepted |
Step-by-Step Action Plan
- Buy a Beater: If the Type R is your only car, buy a $2,000 Honda Fit. Insure the Fit with Geico. Insure the Type R with Hagerty. You will likely save money overall.
- Quote “Modified”: If you plan to tune it, tell Hagerty upfront. They are built for this.
- Lock the Value: Check Bring-a-Trailer results. If Type Rs are selling for $60k, insure it for $60k.
- Join the Club: The “Drivers Club” fee ($40) often pays for itself in roadside assistance upgrades (flatbed).
FAQ Section
Can I drive it to work occasionally?
Hagerty: Yes (Flexible usage). Grundy: No.
Does it cover “Gap”?
You don’t need Gap insurance with Agreed Value. You set the value to cover the loan.
Is there a mileage limit?
Usually no, but “reasonable hobby use” applies. 5,000 miles is fine. 15,000 miles is not.