[DML] Re: Insurance, stated value, daily drivers
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[DML] Re: Insurance, stated value, daily drivers

--- In dmcnews@xxxxxxxxxxxxxxx, "John Macias" <jdm5@xxxx> wrote:
> ...In my case, State Farm just asked me 
> the value of the vehicle, took some pictures, then sent my 
> application to underwriting. It took a few days, but I got coverage 
> for the value I requested.

Wow, my State Farm agent was reluctant to cover my DeLorean, but did
so for the first few months I had it only because I was a long time
good customer, otherwise they told me they would not have touched it
with a ten foot pole if I had simply walked in off the street. As a
matter of fact, the underwriter didn't believe there was an '83 model
year, and was skeptical when I claimed to possess one. I had to send
him an e-mail with a link to the DeLorean FAQ, and contact numbers to
all the DeLorean vendors so he could have an expert tell him. I was so
afraid of what might happen if a I had a claim, that I went with
collector insurance from Aon. My State Farm agent was relieved to see
it go.

> --- In dmcnews@xxxxxxxxxxxxxxx, Ryan Wright <ryanpwright@xxxx> 
> wrote:
> With the recent discussions on insurance, I thought I'd ask:
> Does anyone offer stated value coverage on DeLoreans that are 
> used as daily drivers?
> Thus far, I have had no luck finding such coverage. I called 
> virtually
> every insurance company in my yellow pages, including several
> "brokers" that deal with dozens of companies. None would insure a
> DeLorean at stated value. The collector car companies won't touch
> daily drivers.

There is one company that does:
Chubb offers agreed value policies on daily drivers. I'd never heard
of them, but I've come to learn that they are very big and very well
respected in the insurance industry. Here is a excerpt from the
Corvette Forum thread where I learned of Chubb. Jay M, a Corvette
owner wrote:

"Now I have Chubb. IT costs a small fortune, but I can treat the car
like a normal car and I have $40,000 agreed value. I spent about 4
hours on the internet looking for agreed value and Chubb is is the
only one that offers it for NON collector cars."

If you want to learn more about Chubb, and you don't mind making a
long distance call, contact a guy named Bob Isham at (480) 921-2829.
He owns an auto body shop in Tempe AZ, and he is also a consumer
advocate dealing with the collision repair and Insurance industries.
If you contact Bob, or even Gary at that number, they can tell you all
about Chubb, and perhaps even offer some other advice on who you could
go to for coverage based on your type of usage. Good luck!

Dan W.
VIN 16192

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