Hagerty, Inc. (HGTY) shares are experiencing an uptick today, likely influenced by broader industry trends highlighted by a recent statement from OpenRoad, a competitor in the classic and collector car insurance market. On January 2, 2025, OpenRoad pointed out that classic car owners are facing significant insurance rate hikes, which could drive more customers towards specialized insurers like Hagerty that cater specifically to this niche market. The statement emphasized the challenges classic car owners face with standard auto insurers, such as underinsurance and inadequate coverage for vintage vehicles, potentially positioning Hagerty as a more attractive option for collectors seeking comprehensive coverage.
Hagerty's stock is currently trading at $9.88, marking a 2.38% increase from its previous close of $9.65. The stock opened at $9.74 and has seen a 1.44% rise since the market opened today.