Re: Insurance for young driver

["Jonathan Heslop" <gatewayaag@xxxx>]

DeLorean17..........

I had a terrible time when I went to get my D. insured. First of all, State
Farm said they wouldn't insure it no matter what. This didn't make any
since because most other DeLorean owners I know have normal DeLorean
policies with them. They also said they wouldn't insure Bricklin or
DeTomaso (the other two cars I was looking into then.) I finally found the
"Classic Car" policy and had to bring it to their attention. They
reluctantly took it.

I also looked into insuring the D. with another company--but I'd pay a
second set of premiums which is near $1,000 a year. I'm 18, male,
unmarried, living in IL, multi-car discount, good student discount, and all
tickets have been dropped or reduced to non-moving violations.

So I put the D. on this Classic Car deal. I have a 2,000 mile restriction
though (Odd, since I know several other people on this policy WITHOUT this
restriction.) Anyway, it's about $134 every six months valued at $20,000.

Here's the deal on how to rig this. The policies and cars should all be
under your parents names (preferably the one with the better record.)
You're then covered for all the cars. Now, pick the LEAST valued car under
a normal policy and insure yourself as the PRIMARY driver of that car. This
could be the D. if they cover it under a normal policy.

In my case, the D. was the least valued, but it wouldn't work with the
Classic Car deal. Sooooo, I'm listed as primary driver of our 96 GMC Yukon
2-door, the second least valued car. My insurance is near $2,000 a year on
that. This covers me to drive any of the other cars. My daily driver, a 93
Cadillac Allante, would be about $7,000 a year if I was insured as a primary
driver of it. It would be $4,000 if I was put on my mother's 95 Cadillac
ETC. You can see how it REALLY makes a difference here.

Even in the summers when we put the Yukon in storage and get out the other
two Allantes, we still keep full insurance on it because it's much cheaper
than moving me to the Eldo ETC policy.

Insurance is a crazy business..........But believe it or not, my agent is
the one who recommended the above money-saving method.

Good luck......

--Jonathan
#000697

gatewayaag AT mindspring DOT com