Yes, Geico offers classic car insurance through a partnership with Assurant for vintage cars, new exotic and replica cars, and classic military or similar vehicles. Unlike a normal car insurance policy, Geico classic car coverage is designed for vehicles that do not lose value over time.
Geico classic car insurance uses an agreed value system, which means that the car will be valued at a specific amount when you buy the policy. The amount will be determined by appraisal documents and photos of the car that you provide.
Geico Classic Car Insurance Vehicle Requirements
Vintage 1995 model year or older
A new exotic car, such as an Aston Martin, Lotus, or Alfa Romeo, among others
A new replica car, like a 1966 Batmobile
A classic military vehicle, hearse, fire truck, or similar
Used only for exhibitions, club activities, and occasional pleasure driving
Stored in a fully enclosed and locked structure
Every company has slightly different eligibility rules for classic car insurance, so you can always check with another insurer if your vehicle does not qualify for a Geico policy. Requirements may also vary by state.
For more information about Geico classic car insurance or to get a quote, call (866) 344-2527.
GEICO roadside assistance does not have a towing miles limit. If you have GEICO roadside assistance coverage, GEICO will contract with an independent towing company to have your car taken to the nearest qualified repair facility free of charge, whether it is one mile away or more than 100 miles away.… read full answer
You also have the option of paying out of pocket to have your car towed to a location farther away than the nearest qualified shop.
GEICO’s towing service compares favorably with that of AAA, which has a 5-mile limit for free towing. In less populated areas, you may not find a qualified repair shop within this distance. AAA also has a higher-tier service that includes free towing up to 100 miles, but it costs $100 per year. AAA’s basic roadside assistance package costs $67 per year. GEICO roadside assistance can cost as little as $14 per year.
In addition to towing, GEICO Emergency Road Service covers dead batteries, flat tires and lockout service. Only GEICO auto insurance policyholders are eligible for this add-on insurance. You can call (800) 424-3426 for more information or visit the GEICO website.
No, Geico does not offer gap insurance. Unlike seven of the top 10 car insurance companies, Geico does not sell gap insurance, a specialty type of coverage that pays for the difference between a totaled car’s value and the driver’s loan or lease balance.
You have several options if you’re a current Geico customer and are looking for gap insurance. You could … read full answerswitch insurers and purchase a policy from a company that does offer gap insurance (or loan/lease payoff coverage, which is similar), like Nationwide or Progressive. You could also maintain your policy with Geico and purchase gap insurance from a dealership or a stand-alone company. However, it’s worth noting that dealership gap insurance is often the most expensive option, since it’s usually rolled into your loan and charged interest.
For more information, check out WalletHub’s complete guide to gap insurance.
GEICO is cheap because it sells insurance directly to consumers and offers a lot of discounts. GEICO is not the cheapest insurer out there, though. For example, GEICO ranks 21st for the cheapest car insurance among 46 major companies, based on WalletHub’s 2019 GEICO car insurance review. Competitors like Esurance and Progressive are actually a bit cheaper overall.… read full answer
Still, GEICO is pretty cheap relative to many other major insurance providers, and there are good reasons for that.
GEICO is cheap for many consumers because it offers a wider variety of discounts than many major providers. There are GEICO discounts based on a driver’s history and habits on the road as well as any affiliation they have with 800+ eligible organizations, including the federal government. You can also get discounts for taking a driver’s education course or making your payments electronically. GEICO offers a number of discounts for having a car with certain safety equipment, too, such as “passive restraint” seat belts and anti-lock brakes. Most consumers qualify for more than one discount, which helps to lower the overall cost of their premiums.
The fact that it sells insurance directly to consumers is another big reason why GEICO is so cheap. This eliminates the cost of middlemen. GEICO has significantly fewer local offices and agents than companies like State Farm and Allstate, limiting agents to high-population areas only. Having a smaller agent network gives GEICO savings it can pass on to its policyholders.
GEICO started with direct phone sales but has grown rapidly in the 21st century by developing easy-to-use sales technology. In fact, GEICO focuses today on keeping their rates low by investing in, and beating the competition in, technology that helps reduce manhours, minimize their cost of selling and increase convenience to consumers. Today, you can use GEICO’s advanced website or mobile app to easily find information on insurance or get a personalized quote. You also can check rates and get help with coverage and discount decisions on GEICO’s apps for Amazon Alexa and Google Home.
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