Bennetts Motorcycle Insurance sold to Hagerty for £34 million
The UK motorcycle insurance broker Bennetts is to be sold to the Hagerty Group, marking the brand’s third new home in just over a decade.
The UK's motorcycle insurance market is set for another shake-up after Hagerty confirmed it has agreed a £34 million deal to buy Bennetts from Lucida Group.
The acquisition, which is expected to be completed during the third quarter of 2026, will see the American specialist insurer add one of Britain's best-known motorcycle insurance brands to its growing enthusiast-vehicle portfolio.
For riders, the Bennetts name will need little introduction. Founded in Coventry in 1930 and going on to specialise in motorcycle insurance, the broker now insures around 15 per cent of the UK motorcycle insurance market and has become much more than insurance thanks to its BikeSocial platform, extensive road testing, rider training and long-running support of British motorcycle racing.
Hagerty is best known for its classic and collector car insurance business, although it also offers cover for classic motorcycles in the UK. The company believes Bennetts' customer base is a natural fit, with around 92 per cent of its policyholders classified as enthusiast riders rather than commuters.
The deal also represents another chapter in Bennetts' recent ownership history. The broker was acquired by Saga in 2015 before an attempted sale to Atlanta Group in 2020 was blocked by the UK's competition regulator. Lucida Group subsequently bought it in 2021, where it has remained until this latest agreement with Hagerty.
Hagerty says Bennetts will strengthen its position in the UK enthusiast vehicle market while creating opportunities to grow both businesses. The acquisition follows a period of strong growth for the US company, which has continued expanding its insurance and enthusiast-focused services during 2026.
For now, at least, the move should mean no immediate changes to policies, services or branding.
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Simon (AKA Toad) has been working within the motorcycle industry for more than twelve years, and a member of the motorcyclist family since birth. Growing up around British-built single and twins, it was inevitable that a life on two wheels was on the cards, from a very early age!
