RE: [DML] Insuring a Delorean?

[Michael Pike <iqintermedia@xxxx>]

Yep, I know what you're saying...

I came up with the 50K based on what it would cost to
replace my D with a refurbished one from DMC in
Houston.

I have <4200 original miles, original everything on
the car, the leather seats dont have as much as a
crease in them from sitting down, or a blemish. It's
all original, down to the fuel sending unit which
doesn't work.

Because of the value of original equipment, I believe
(not that insurance companies believe the same), the
car isn't replaceable, because refurbished D's are not
original, atleast not completely.

For an engine in the shape mine is, would require the
re-built motor from DMC, the leather, being flawless,
would require brand new interior on the refurbished
unit, etc. From what I can tell, not everything is
original OEM, which makes it worth less than what is
being replaced.... I read on another site (I think the
Delorean dealer in CA), that they sell refurbished
units starting at 50K. So I do not think I would have
a hard time arguing the value.... I just hope I never
have to cash in on the insurance. This car is special
to me, it's my first D, and it's the first thing I
bought when I started my own company, when I hit the
"successful" mark.

You do need to always keep one thing in mind though,
insurance companies are big (make that huge) for one
reason, they are pro's at getting out of paying
things, so always be prepared, and keep some vaseline
handy, because you never win them all.

Mike
Vin 855

--- Mike & Ann Griese <roscsyl@xxxx> wrote:
> Be careful here. There are two terms you need to be
> aware of for insurance - declared value and agreed
> value. There is a huge difference between the two.
> You want an agreed value policy.