Gianetta Palmer is a writer for CarInsurance101.com, copywriter, and essayist. Her work has appeared in EverydayHealth.com, Healthline, and The Dyrt Magazine. She is the author of Scrunchie-Fried and writes a lot about car insurance in her spare time.

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Melanie Musson is the fourth generation in her family to work in the insurance industry. She grew up with insurance talk as part of her everyday conversation and has studied to gain an in-depth knowledge of state-specific car insurance laws and dynamics as well as a broad understanding of how insurance fits into every person’s life, from budgets to coverage levels. She also specializes in automa...

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Reviewed by Melanie Musson
Published Insurance Expert

UPDATED: Apr 8, 2020

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Classic cars are vehicles that are rare due to their age. Collectors like to refurbish these vehicles to restore them to their original condition; in some case, the vehicle could be further improved after restoration by adding custom paint, chrome or other features. Generally a car needs to be more than 20 years old to qualify as a collector car, but some rare models might be considered classics before that time. Popular classic cars include muscle cars from the 70s and 80s, roadsters from the 50s and 60s, and antique models from earlier decades like the Ford Model T.

Regardless of the car being insured, classic cars require special coverage. These vehicles are worth more than other cars of the same make and model because of the care put into restoring them. If you insure a classic car on a standard auto policy, you will be paid only a fraction of what the car is actually worth. Classic cars also have special needs. Most collectors keep their vehicles in storage for long periods or transport them long distances. This means that collector cars are more likely to be damaged by vandalism or weather than by auto accidents.

Traditionally, there are a few insurance companies that provide auto insurance specifically for classic cars. While these companies are well-respected among collectors, they can pose an inconvenience to drivers who want to keep all of their policies with a single carrier. Keeping all of your insurance accounts together helps keep costs down and makes paying your bills simple. Fortunately, some major private insurance companies also offer collector car insurance, which gives vehicle owners more flexibility when choosing a company.

Does GEICO Provide Collector Car Insurance?

For a while, GEICO car insurance does not offer coverage for collector vehicles. According to its website, however, GEICO is re-launching classic car insurance at customer request. Customers must purchase coverage for their vintage autos through a separate line of insurance offered by GEICO, similar to what it offers for RVs and ATVs. In this case, the policy is a stated-value policy that allows customers to insure the vehicle for its appraisal value. There are several specialty coverages GEICO offers for vintage cars:

— Coverage for parts used throughout the restoration process
— Coverage for transport and storage of a damaged vehicle
— Lodging expenses for customers who are stranded due to vehicle disablement
— Pet injury coverage in case a pet is injured in an auto accident involving the covered vehicle

Classic cars are traditionally fairly low-risk for auto insurers because people generally do not drive them frequently. The chances of an accident are quite low, which makes insurance companies more likely to offer extra coverages at an affordable price.

The cost of a classic car auto policy with GEICO will depend on several factors including the car’s value, its annual mileage, whether you show it, and where you keep it stored. Your own driving history, age, credit score and gender will affect premiums as well just as they would for any other car insurance policy.

When purchasing vintage auto insurance from GEICO or any other company, you will need to have a few more things on-hand than you would for a standard auto policy. First, you will need to get your vehicle appraised to determine its actual value. The insurance company will probably want to do an appraisal as well, but having an independent assessment done first will help you ensure you’re insuring the car at its worth.

You may also need to provide annual odometer readings as many insurance companies require low mileage on classic car policies. You should also be prepared to answer some questions about how and where you store the vehicle. Not all insurance companies will need to know this information, but knowing it helps them match you with the cheapest possible rates.

Should I Get a Classic Auto Policy With GEICO?

If you already have auto insurance with GEICO, you can get a discount on all of your policies by taking advantage of a multi-policy discount. The more policies you carry with a single company, the greater this discount will be. If you don’t have insurance with GEICO, it may be worth investigating their classic car coverage as well as their personal auto insurance as a way to keep all of your policies under one roof.

Ultimately the best way to determine the best insurance company for your needs is to get multiple quotes and choose the company that best suits you. By finding something that matches both your needs and your budget, you can save money on auto insurance without sacrificing the coverage you need.