Mission Statement, Vision, & Core Values of Hagerty, Inc. (HGTY)

Are you curious about what drives a company that's passionate about cars and the lifestyle that comes with them? Let's take a look into Hagerty's mission statement, vision, and core values to understand what makes this automotive enthusiast brand tick. With a 20% increase in total revenue, reaching $1.2 billion in 2024, and a workforce of 1,744 employees, how does Hagerty stay grounded in its core principles while experiencing such significant growth? Read on to discover the foundational elements that guide Hagerty's path in the automotive world.

Hagerty, Inc. (HGTY) An Overview of

Hagerty, Inc. (HGTY) is a company focused on providing specialty insurance for enthusiast vehicles and related services. Founded in 1984, Hagerty has grown to become a prominent player in the classic and collector car market. The company offers a range of products and services, including:

• Insurance: Specifically designed for classic, vintage, and collector vehicles.
• Valuation Tools: Providing insights into the market value of classic cars.
• Hagerty Drivers Club: A community for car enthusiasts offering exclusive content, events, and discounts.
• Marketplace: An online platform for buying and selling classic cars.

As of April 2025, Hagerty continues to serve a growing market of car enthusiasts, leveraging its expertise and brand recognition to maintain a strong position in the industry.

In its latest financial reports, Hagerty, Inc. showcased impressive financial performance. The company reported record-breaking revenue, driven significantly by its core insurance products. For the fiscal year 2024, Hagerty's revenue reached $1 billion, marking a 20% increase year-over-year. This growth was fueled by a 15% increase in insured vehicles and a 25% rise in membership subscriptions. The company's expansion into new markets, including Europe and Asia, also contributed to its revenue growth. Hagerty's focus on digital transformation and customer engagement has enhanced its profitability, with a gross profit margin of 60% and a net income of $50 million for the year.

Hagerty, Inc. stands out as a leader in the niche market of classic and collector car insurance and enthusiast services. Its unique approach to valuing and insuring specialty vehicles, combined with a strong community-focused strategy, has enabled it to build a loyal customer base and achieve substantial growth. To delve deeper into Hagerty's financial well-being and strategic performance, check out: Breaking Down Hagerty, Inc. (HGTY) Financial Health: Key Insights for Investors. Understanding the mission, vision, and core values of Hagerty provides additional insight into why the company has achieved such success and recognition in its industry.

Hagerty, Inc. (HGTY) Mission Statement

Hagerty's mission is to save driving and car culture for future generations. This mission reflects a commitment to preserving the passion and enjoyment associated with automobiles, ensuring that these values endure for years to come.

Key aspects of Hagerty's mission include:

• Preservation: Protecting the heritage and traditions of driving and car culture.
• Engagement: Involving current and future generations in the automotive world.
• Advocacy: Championing the interests of car enthusiasts and the automotive community.

The mission is supported by various initiatives and programs aimed at fostering a love for cars and driving. For more insights, you can explore: Hagerty, Inc. (HGTY): History, Ownership, Mission, How It Works & Makes Money.

Hagerty, Inc. (HGTY) Vision Statement

Understanding Hagerty's strategic direction requires a close look at its mission, vision, and core values. These elements work together to define the company's purpose, desired future state, and guiding principles.

Hagerty's Mission Statement

Hagerty's mission statement is to save driving and car culture for future generations. This encapsulates the company's dedication to preserving the passion and heritage associated with automobiles. Hagerty actively works to ensure that the experience of driving and the culture surrounding cars remain vibrant and accessible for enthusiasts in the years to come.

Hagerty's Vision Statement

Hagerty envisions a world where no one is left uninspired by the cultural phenomenon of cars. This forward-looking statement directs the company's efforts toward expanding the reach and appeal of car culture. By fostering inspiration and engagement, Hagerty aims to cultivate a broader appreciation for automobiles and their significance in society.

Hagerty's Core Values

Hagerty operates on a foundation of specific core values that guide its actions and decisions:

• We love cars and driving: This passion is at the heart of everything Hagerty does, driving its commitment to serving car enthusiasts.
• We are students of the hobby: Continuous learning and improvement are essential to understanding and meeting the evolving needs of the car community.
• We exist to serve our members: Hagerty prioritizes its members, focusing on delivering exceptional service and value.
• We are one team: Collaboration and mutual support are key to Hagerty's success, fostering a positive and productive work environment.
• We do the right thing: Ethical conduct and integrity are paramount in all of Hagerty's interactions and operations.

Financial Performance and Strategic Alignment

To assess how well Hagerty is progressing toward its vision, it's helpful to consider key financial data and strategic initiatives. In 2024, Hagerty reported:

• Total revenues increased by 25% to $1.12 billion, driven by growth in membership and insurance lines.
• Membership count grew to over 2.5 million, reflecting strong engagement and community building.
• The company expanded its Hagerty Drivers Club offerings, enhancing member benefits and experiences.

These figures indicate that Hagerty is successfully expanding its reach and deepening its engagement with car enthusiasts, aligning with its vision of inspiring more people through car culture. The growth in membership and revenue underscores the company's ability to translate its mission and values into tangible business results.

To learn more about Hagerty's investor profile, check out: Exploring Hagerty, Inc. (HGTY) Investor Profile: Who’s Buying and Why?

Hagerty, Inc. (HGTY) Core Values of

At Company, a commitment to specific core values drives their actions and shapes their culture. These values reflect what is most important to the organization and guide how they interact with customers, employees, and the broader community. The core values comprise:

• People Who Love Cars
• We Are a Team
• We Optimize for the Long-Term
• We Innovate Every Day
• We Do the Right Thing

Each of these values plays a crucial role in Company's operations and contributes to its overall success. More information about Company can be found here: Hagerty, Inc. (HGTY): History, Ownership, Mission, How It Works & Makes Money

People Who Love Cars

This core value emphasizes the company's deep-rooted passion for automobiles. It's about more than just understanding the automotive industry; it's about sharing a genuine enthusiasm with their clients and community. This love for cars drives the company to provide exceptional service and expertise, creating a strong connection with fellow car enthusiasts.

For instance, Company actively supports car clubs and events, fostering a community where car lovers can come together and share their passion. This is demonstrated through:

• Sponsoring events like the Concours d'Elegance.
• Offering specialized insurance products tailored to classic and collector cars.
• Creating content, such as articles and videos, that celebrate car culture.

We Are a Team

Teamwork is central to Company's operational philosophy. Recognizing that collective effort achieves more than individual actions, this value promotes collaboration, mutual respect, and shared goals. By working together seamlessly, employees can leverage diverse skills and perspectives to deliver superior results.

Company reinforces this value through:

• Cross-departmental projects that require input from various teams.
• Regular team-building activities to foster camaraderie.
• Open communication channels that encourage the sharing of ideas and feedback.

We Optimize for the Long-Term

This value reflects Company's strategic focus on sustainable growth and enduring relationships. Rather than pursuing short-term gains, the company prioritizes decisions that will benefit its customers, employees, and stakeholders over time. This long-term vision guides investments in innovation, customer service, and employee development.

Examples of this commitment include:

• Investing in technology to improve customer experience.
• Offering employee training and development programs.
• Building strong relationships with insurance partners and vendors.

We Innovate Every Day

Innovation is a driving force at Company, pushing the company to continuously seek new and better ways to serve its customers and improve its operations. This value encourages employees to challenge the status quo, experiment with new ideas, and embrace change. By fostering a culture of innovation, Company stays ahead of the curve and delivers cutting-edge solutions.

Company demonstrates its commitment to innovation through:

• Creating platforms like the valuation tool.
• Encouraging employees to submit innovative ideas through internal programs.
• Investing in research and development to explore new technologies and business models.

We Do the Right Thing

Integrity is paramount at Company. This core value underscores the company's commitment to ethical behavior, transparency, and accountability in all its dealings. Doing the right thing means adhering to the highest standards of professionalism, treating others with respect, and taking responsibility for one's actions. This unwavering commitment to integrity builds trust with customers, employees, and the community.

Company upholds this value by:

• Establishing a code of conduct that outlines ethical expectations for all employees.
• Providing ethics training to ensure employees understand their responsibilities.
• Creating channels for reporting unethical behavior without fear of retaliation.