Louise Hagerty dies at 88

Feb. 6—TRAVERSE CITY — The matriarch of one of northern Michigan's best-known businesses died over the weekend.

Louise Hagerty, co-founder of Hagerty which started as a small insurance agency run from the family's basement and evolved into a world-wide leader in classic car and marine insurance, died on Sunday, Feb. 4 at the age of 88. Her obituary is published in today's Record-Eagle.

"She was a very inspirational female leader," said Connie Deneweth, the former president and CEO of Traverse City State Bank where Hagerty served as the lone female member of the bank's Board of Directors when it was founded 24 years ago. "It didn't seem to bother her being in a world that was mostly dominated by men, whether it was in insurance or in banking. She blazed a trail for all of us female leaders in the community."

Hagerty was born on March 23, 1935 in Pontiac before her parents Charles and Helen Kucera moved to Leelanau County. She was described as "precocious and competitive student" and graduated as class valedictorian in 1953 from Maple City High School. She later attended Michigan State University, and married Frank Hagerty on Sept. 10, 1955 at Central United Methodist Church in Traverse City. They launched Hagerty Marine Insurance from their family home in Peninsula Township, where she was the CEO of the company. It later added insurance for collector cars, trucks and motorcycles, according to a statement from the company, and laid the foundation for Hagerty becoming a publicly traded company on the New York Stock Exchange in 2021 when the company was valued at $3.1 billion.

"Louise actually was the one that was very instrumental into getting them into collector boats, and it grew from there," said Howard Schelde, a well-known restaurateur in the region and long-time friend of the Hagerty family. "Louise was a pretty low-key person ... for all she accomplished in her business life and in the community, she was a pretty humble person."

"We're sad to see her gone," Schelde said.

The company statement on Hagerty's passing noted her extensive work in the community, including active roles with the Traverse City Human Relations Commission, the League of Women Voters, Central United Methodist Church, the Central Day Care Board of Trustees, the Friendly Garden Club of Traverse City and the City Opera House board. Her extensive community service was widely recognized, as she received the Athena Award from the Zonta Club of Traverse City in 2007 for helping local women reach their potential. The Hagerty family was also honored with downtown Traverse City's Lyle DeYoung Award in 2011 for their growth of the company and its multi-million dollar investment in the former River's Edge development along Cass Street downtown, where the business remains headquartered today.

The company also said Louise Hagerty was the inspiration behind the newly-formed Boundless Futures Foundation, created by her son McKeel Hagerty and his wife Soon last September to assist female entrepreneurs from around the country.

Schelde knew the Hagerty family both as neighbors on Old Mission and in the southwest Florida community of Boca Grande where Louise developed a passion for fishing, from tarpon angling in the ocean to fishing in the inland lakes. Schelde said he has more than a few photos of Hagerty showing off a prized catch.

"Louise was a neighbor down there ... (she) enjoyed fishing and had a guide that would take her out a couple of days a week," Schelde said. "It was something that she just loved to do."

Two public visitations for Hagerty are set for Saturday, Feb. 10 from 3 — 6 p.m. and Sunday, Feb. 11, from 10 a.m. — noon at Reynolds-Jonkhoff Funeral Home, followed by a private burial at the Peninsula Township Cemetery. Memorials may be directed to the City Opera House or the Cherryland Humane Society.