benefits of hagerty insurance compared to standard insurance, Photo by Gestalt Imagery Shutterstock comPhoto by Gestalt Imagery/Shutterstock.comNo one wants to think about the possibility of their pride and joy being involved in a crash. After pouring square acres of one's life into finding (and enjoying!) a cherished collector car, seeing it endure even a smallest of door dings in the grocery store parking lot can be too much to bear - let alone dealing with the fallout of a major traffic incident.But that's precisely why we need to protect our whip with the right insurance, one of the few products in life we should take time to research and select with care before hoping never to actually use the stuff. As gearheads, we know it's often the 'other guy' for whom we have to guard out on the open road, that person who may be perpetually distracted or racing to catch the light after being late to work for the fourth time this week.AdvertisementAdvertisementChoosing the right insurance coverage for a rare or collector-grade vehicle can be a minefield - which is why Hagerty takes care to put forth some simple but comprehensive choices to ensure your unique ride is totally covered in a worst-case scenario. One of the biggest question marks is, of course, what value an insurance company will place on a car which can be - quite literally - one of a kind.A common term with which one should be familiar when shopping for insurance is Actual Cash Value (ACV). With a new-ish car or truck, assigning such a value is relatively easy: consider its original MSRP and make appropriate deductions for age and mileage plus a few other factors. Hagerty knows that approach won't work for your custom car or collector vehicle, especially one which has been extensively restored or modified, so it works with each and every customer to determine a value agreeable to all parties.benefits of hagerty insurance compared to standard insurance, Photo by jakubbaczyk Shutterstock comPhoto by jakubbaczyk/Shutterstock.comIn the event of a total loss, Hagerty members are paid what's called a Guaranteed Value. This number is determined with owners during the original insurance application process. The company works to ensure the best representation of a vehicle is captured and appropriate values are assigned.AdvertisementAdvertisementIt's worth mentioning this Guaranteed Value isn't determined solely on a faceless decision tree or horrifying discussions with artificial intelligence. In addition to the vast database of vehicle data gathered by Hagerty over its decades of experience, reps from the company have rich conversations with customers about their cars. They can use their understanding of market prices to review values that best match a vehicle's current condition. Photographs may be requested during the application process, along with detailed descriptions and the like. "Sometimes," grinned a Hagerty rep who provided detail for this article, "We just like to look at cars."One of us! One of us!That's fine for a relatively standard restoration or survivor-grade vehicle, you say, but what about custom builds or restomods for which there may not be a precedent? Fair question - and one Hagerty is equipped to answer. These situations and requests for insurance coverage are reviewed on a case-by-case basis to correctly assess additional work done to the vehicle and appropriately value to rectify in the event of a loss. In some instances, additional materials or information may be requested to support a value request, meaning all the time you spend assembling that exhaustive 'build book' full of pictures and details is about to pay off. Literally.In other words, most of these decision makers are gearheads like us, ones who recognize the value difference between a 427 and 429 instead of just accountants who are capable but ultimately clueless about cars working from a set of standard guidelines. These are true car people, ones with whom you'd probably have a beer in different circumstances, working year-round to compile vehicle and market data to create the Hagerty Price Guide and Valuation Tool. Those tools and teams help support conversations on keeping up to date with market trends, ensuring proper coverage for the cars we love. That marked rise in value of certain Japanese metal from the '90s era? They're on it.benefits of hagerty insurance compared to standard insurance, Photo by lazy pigeon sketches Shutterstock comPhoto by lazy pigeon sketches/Shutterstock.comAdvertisementAdvertisementAdditionally, these tools are available to our members for their own research, which is a far sight better than other companies which keep this information close to their corporate chests. Being open with the tools used and how valuations are created certainly inspires a dose of trust with Hagerty; being transparent is a whole lot better than someone slapping a depressed value on your collector car from inside a stuffy windowless conference room on the 19th floor of an office building in the industrial park.Beyond getting access to valuation tools, a Hagerty policy can also snag you a subscription to the Hagerty Drivers Club magazine, top-of-the-line roadside service from a company who knows how to handle a collector car, car experts on whom to call for answering member questions, and a membership to the Historic Vehicle Association.It doesn't hurt to familiarize oneself with insurance terms common to the industry. Liability insurance covers injuries to other people while also covering damage to property like someone else's car or the fence you mowed down during the crash. Finally, know the difference between collision and comprehensive coverage: collision typically covers your vehicle if it literally collides with another object (such as a car or tree) while comprehensive covers a car damaged by something else such as natural disasters, falling objects, or animal damage.With Hagerty, you have custom coverage against headaches out on the open road. Don't just take our word for it, get a custom quote today and see the Hagerty difference for yourself.NOTE: This is sponsored content produced in partnership with Hagerty