[DML] Re: Insurance?
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[DML] Re: Insurance?



This insurance thread comes up again and again. Because insurance
rules, limits, and coverages vary so much State to State there is no
blanket answer. Generally collector insurance is a better deal if you
can live with the limitiations. In all cases you have to understand
what will happen if the car was to "disappear". Do you get "Agreed
Value" or some arbitrary amount an adjuster makes a wild guess at?
Talk to others in your State about where they insure their cars and
what experience they have. You will meet them at car shows and cruise
nights. Adding a Delorean to your existing auto policy is not a good
idea. They usually go by "book" value and you could wind up with
$5,000 (less the deductable!) and no car. The car could get totaled
out for what could be fixable damage. In many States once a car is
totaled it gets a salvage title and can no longer be registered and
driven on public roads in that State. Grundy, Hagerty, and Taylor are
some of the larger companies that insure collector cars. Call them all
and get a quote. Ask them to work from an "Agreed Value" of $20,000.
You may decide to actually insure for a lesser value but get the
quotes anyway. State Farm and Allstate in many States won't even
insure Deloreans. Be sure to understand the rules and limitations. In
most cases you have a limit on the amount of miles you can drive a
year and you have to have another car you use for daily driving. There
is a BIG difference in premiums too. Collector insurance will cost
around $3-400 a year.
David Teitelbaum
vin 10757



--- In dmcnews@xxxxxxxxxxxxxxx, "Cecil Longwisch" <dmc1982@xxxx> wrote:
> This is an old, but continues to be an important thread. The
coverage is superior by collector car carriers but the limitations are
exacting and restricting.
> Those that choose to go the collector car insurance provider, please
remember that all of these that I am aware of do not allow you to d






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