Hagerty Raises Full-Year Earnings Guidance
The classic-car insurer lifted its outlook after adding 402,000 members and generating $257 million in adjusted EBITDA through the first nine months of 2026.
Updated on Nov. 3, 2026 in Insurance
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Hagerty raised its full-year earnings guidance on November 3, 2026. The company reported $257 million in adjusted EBITDA through the first nine months of 2026 and added 402,000 new members.
Why it matters
The guidance raise reflects growth in Hagerty's high-margin business-to-business distribution partnerships and its auction platform. It also signals confidence in the company's efforts to keep losses down through in-house claims investments.
The figures come from Hagerty's third-quarter 2026 earnings report, covering results through September 2026. The company's 1.9 million policies in force and 54,000 independent agents set the scale of its network, but the report does not disclose the revised guidance numbers.
The players
Hagerty
Hagerty is a specialty insurer focused on classic cars, collectibles, and enthusiast vehicles, known for its membership-based model and its online auction platform.
The details
Hagerty grew its claims team by 40% and now handles 2,800 policies per member service employee. Gen X, Millennials, and Gen Z account for more than 60% of the company's quotes, and a planned State Farm rollout will convert 525,000 existing classic-car policies to Hagerty-backed coverage.
Timeline
November 3, 2026: Hagerty raised full-year guidance on its third-quarter earnings call.
First nine months of 2026: Hagerty generated $257 million in adjusted EBITDA.
Market Dynamics
Hagerty's State Farm rollout extends its business-to-business distribution strategy with a large national carrier. The partnership is expected to support consistent high rates of growth for the company.
Shareholders and prospective investors can track Hagerty's progress against its raised guidance in future quarterly reports. Classic-car owners covered by the State Farm conversion will see their policies move to Hagerty-backed coverage.
The takeaway
Insurers that combine high-margin partnerships with in-house claims investment can grow while controlling losses. Watch for whether Hagerty sustains its growth as its distribution partnerships expand.
Further reading
Explore more on Insurance to see how carriers and specialty insurers are growing their distribution.
Source note: This article includes information reported by The Motley Fool.
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