Re: [DML] Insuring a Delorean?

[Michael Pike <iqintermedia@xxxx>]

When you say full coverage, they will give you what
they feel the car is worth... to insure a car as a
classic, you must declare an amount for the car...

If I got straight full coverage, the rates through
progressive would be fairly cheap, however, if it was
totaled, they will give it a very low worth, because
of it's age.... to get around that, I "declared" a
value of $50K on the car, which means no matter what,
the car gets a 50K settlement, stolen, burned,
wrecked, or otherwise... it costs more, but you are
guaranteed that it will be replaced if it can be...
I'd be hard pressed to find a Delorean w/ 4,000 miles,
immaculate shape for the 4-5K they would give me for
it (if even that), under standard insurance.

Also, when selecting a company, make sure they are
financially secure. A friend of mine had a 67 vette
insured through a "Joe Blow" insurance company, and
when it was stolen, the company didn't have the money
to pay for it (or they did, but somehow convinced the
commision they didnt, and went bankrupt).

Progressive, Geico, State Farm, all big companies who
won't be going out of business anytime soon... the
smaller guys, you never know.

Mike

--- Kevin Abato <delorean@xxxx> wrote:
> I am in the process of securing my financing with JJ
> Best for my DeLorean
> and I am looking into insurance. I called my normal
> provider, who gives me
> pretty good rates, and I almost had a heart attack!