It is almost impossible that an American driver never heard of GEICO insurance company. Besides the fact that auto insurance is mandatory for anyone who owns a daily driver in America, I’m sure no car enthusiast would like to see their baby get hurt, no matter if it’s classic, exotic, collectible, or even their daily driver.
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GEICO Classic Car Insurance
But we are not going to talk about regular mass-produced cars in this article; no, we will talk about classic cars and good news for drivers familiar with GEICO or for those who have a policy with them, GEICO offers classic car insurance as well.
About GEICO
The Government Employees Insurance Company, known as GEICO, is an American auto insurance company located in Chevy Chase, Maryland. GEICO was founded 85 years ago in 1936, and it is the second-largest auto insurer company in the United States.
GEICO is ranked second in the United States for customer and claims satisfaction. They insure around 11 million private passenger cars and over 17.5 million vehicles in total.
How old does a car have to be to get classic car insurance from GEICO?
Determining if a car is classic or not age is not the single factor, and purchasing classic car insurance must be put on hold. Generally, your collector vehicle must be:
- At least 25 years older.
- A new replica car.
- A new exotic car, such as an Aston Martin.
- A classic military vehicle.
What rules should a policyholder obey?
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Agreed Value:
An agreed value refers to the value of the car, and it means you and a GEICO agent will come up with a price that you both agree on. This agreed value will be the actual value of your vehicle in case it gets totaled.
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Daily Driver:
You have to Prove to GEICO that you already have another car that you use for daily purposes. Owning a registered daily driver under your name is a necessity because a classic car is obviously not a car for everyday use.
You have to keep your classic car in a closed space, so it would be safe. You can keep your insured car in a garage, a barn, a carport, storage units, or non-public parking with 24-hour security.
