Government Employees Insurance (GEICO), a US auto insurer has re-introduced its collector car insurance product which provides coverage to classic and vintage cars.
According to the third largest auto underwriter, it has brought back the insurance product due to intense demand after policyholders to have the coverage available to them again.
GEICO vice president John Zinno said GEICO’s collector car insurance is a valuable product for their customers who are passionate about their vehicles.
"The collector car product ensures all GEICO policyholders are covered regardless of their make and model and gives our customers another option to keep all of their business under the GEICO umbrella," Zinno added.
GEICO sales manager Daniel Carini said, "Collector car insurance coverage is different from a regular auto policy because customers can choose agreed-value coverage. The policyholder and the insurer agree on the value of the car and that amount is paid out in the event of a total loss. So, there is no question about the value of the vehicle when it is time to settle your claim."
Additional benefit offered through the policy includes coverage for lost or stolen parts, towing services, any transportation or lodging expenses if a policyholder’s vehicle becomes disabled over 15 miles from home, and if a pet is injured in an accident involving the collector vehicle.
GEICO provides customers insurance products for their motorcycles, all-terrain vehicles (ATVs), travel trailers and motorhomes (RVs).