Is GEICO classic car insurance worth it?
GEICO offers fairly low rates for classic car insurance, so it may be worth it if you drive a vehicle that requires special protection. But you shouldn’t get classic car insurance for just any old vehicle—even if it meets one of the previously mentioned requirements.
If the following describes your vehicle, GEICO classic car insurance could be the right choice:
Your vehicle’s rarity, novelty, or historical relevance makes the agreed-upon value high enough above the normal depreciated value that it makes sense to invest in protection
Your vehicle is an exotic car that you only drive on occasion—so you still need protection, but not to the extent a standard car insurance policy provides
From a cost-benefit perspective, these are the main scenarios when classic car insurance is recommended.
FAQs
Are classic car insurance rates cheaper than regular car insurance?
On average, classic car insurance is about 36% less expensive than standard auto insurance (relative to vehicles with similar values). This is because classic cars are driven less and kept in secured locations, making the odds of filing an insurance claim less likely.
What is the difference between a classic car and an antique car?
Classic car owners and insurance providers—GEICO included—will all have a different answer to this question. But the most common consensus is that a classic car is over 20 years old and antique cars are over 45 years old. Furthermore, vintage cars are identified as those built between 1919 and 1930.
What other classic car insurance companies are available?
Auto insurance companies like Nationwide
and USAA
also offer classic car insurance. But other less-known providers, like Hagerty and Grundy, specialize in protecting classic cars—so be sure to check out their policies when comparing quotes. What vehicles are eligible for GEICO classic car insurance?
To qualify for GEICO classic car insurance, vehicles must be at least 25 model years old, a new exotic vehicle (i.e. Alfa Romeo, Aston Martin), a common antique (i.e. Chevy Impala), a new replica car, or a classic military vehicle, fire truck, or hearse.
Additionally, your classic car can’t be your primary vehicle. It must only used for exhibitions, car shows, occasional pleasure, or club activities, and it must be stored in a fully enclosed structure that is lockable.
Can I drive my classic car with GEICO classic car insurance?
Yes, you can still drive your classic car with GEICO classic car insurance—but you can’t use it as your daily commuting vehicle. Classic vehicles should only be used for pleasure driving.
Can you get full coverage from GEICO for a classic car?