Kemper Corp. said it will move its Classic Collectors auto business to Hagerty, a Michigan agency specializing in the coverage.
The change is happening by way of a marketing agreement, where Illinois-based Kemper will work with appointed agencies to transfer the book of business, which had approximately $16 million in annual premium in 2018, to Hagerty and its underwriting carrier.
Kemper’s Classic Collectors cover provides classic vehicle insurance for all types of collector and specialty vehicles including antiques, exotics, tractors and military vehicles. Kemper expects to continue new business sales of Classic Collector policies through October 31, 2019.
Duane Sanders, president of Kemper’s Property and Casualty Division said in prepared remarks that Hagerty is “a great partner” that’s “fully committed to the classic collector market” and the agents that serve it.
“This agreement will provide our agents with a seamless, efficient way to transfer their business to a market-leading classic collector insurance carrier,” Sanders said. “Equally important, it will allow Kemper to increase our focus and invest additional resources in our specialty and preferred markets.”
McKeel Hagerty, CEO of Hagerty said that the marketing agreement represents “a perfect marriage” between the two companies.