DeLorean car insurance

[David T]

As I said in previous posts, this all varies State by State. The insurance companies have to operate under the rules in each State and they are NOT all the same. Another thing to consider. If you have Classic or Historic plates you may not even be eligible for "ordinary" insurance. The best advice is to get a hold of your insurance agent and discuss this with them and ask them what happens if the car is totaled, lost, or stolen. What, if any, are the limitations for mileage, age of drivers, deductible, and so on. Better to find out BEFORE the claim. Some policies have deductibles on glass, personal items, tires, that kind of thing. Many do not cover anything not factory original (or they want more of a premium to cover aftermarket, or modifications). Some insurance companies want proof that you own another car that is your daily driver. Some want pictures. Some won't insure a driver under a certain age. Some won't cover anything not car show related like going out for a beer. Most won't cover anything you get paid for like a photo shoot or a wedding (you can buy coverage but it's extra by the day). When you are up for renewal get several quotes and understand the differences between the polices. They are all a little different just to make it harder to compare "apples with apples". You CANNOT compare by price alone! If you can, you want "Agreed Value" on the car for at least $30K if it is a driver in decent condition.

[MrChocky]

I agree with DaraSue. I’ve had several “car guys” warn me about insuring a classic car with a standard insurance company. My Progressive agent said he’d insure it for $40k, but good luck getting that from the company if the car ever gets totaled. He flat out told me Progressive would fight it. His honesty made me realize that a special car requires special insurance.

So I’m with Hagerty now. They are experts in this field, their rates are reasonable, and I’m guaranteed to get the full AGREED value in a total loss situation. Check the fine print in your insurance policy. If it doesn’t specifically say they will pay the agreed value, get a new policy.

Yeah. My regular insurance is with Farmer's. But the system here in PA is brand new and fraught with problems. Anyway, they go to Hagerty anyway for their classic car quotes, so that's almost certain what I'll go with.

[mr_maxime]

Hagerty Guaranteed Value = $25,000

Bodily injury ($100k per person, $300k per accident) = $30
Property Damage ($100k per accident) = $8
Medical Payments and Uninsured Motorists = $23

Damage other than collision = $135
Damage due to collision = $143

Total: $339 a year

GA Policy quote with a modified car...

Hagerty Guaranteed Value = $25,000

Bodily injury ($100k per person, $300k per accident) = $89
Property Damage ($100k per accident) = $37
Medical Payments and Uninsured Motorists = $42

Damage other than collision = $412
Damage due to collision = $254

Total: $854 a year


Does anyone know of any company that will cover deloreans as just property in the event of fire, etc? My car's still not driving and in a bunch of pieces. Don't know why Statefarm will insure my couch and appliances in case that happens, but not my car.

[mr_maxime]

Well, after a super long call with hagerty, they won't insure electric conversions if it's not an "approved kit"

[David T]

Some companies will insure "projects", cars that are disassembled and not registered. When they do they want extensive documentation like bills, pictures, etc to back up a claim. They will insure it for a percentage of it's value as if it was completed for fire and theft and maybe even water damage. In your case they "may" insure the car but not the modifications such as conversion to electric. Get some more quotes. As important as what they cover is what they DON"T cover like deductible, maximum per each event, maximum per year, glass, etc. Some things that they cover are mandated by the State you live in. Here in New Jersey you have to pay into what they call the "Uninsured Driver's Fund". That way if an uninsured driver hits you the State can pay you out of that fund and your insurance company doesn't have to. The State also mandates minimum coverage like liability and bodily injury. It's good that you are learning about this now, before you have a claim. All too often people get insurance, pay their premiums for years, and then get surprised when they find out what they really bought when they file a claim. BTW, $25K is low for a running Delorean in decent shape (not electric). I would increase it to at least $30K. That is the number (Agreed Value) that you would get if the car disappeared as in stolen and not recovered or burnt up or was totaled in an accident.To be totaled it has to cost within 10% of the agreed value so if it is valued at $25K and it will cost $22.5K to fix it, it gets totaled and the insurance company owns it and pays you the $25K and you give them the keys. You might be able to increase it a little if you had any personal property that was in the car. Towing and storage will get included in that calculation if applicable and can make the difference to put you "over the top" and be totaled.

[TheStoot]

I went with Grundy for Collectors car insurance. It's covered for $35,000 and 300,000 for bodily injury and uninsured motorists. $358 a year, full windshield and covered towing, spare parts, trip break downs etc...I think I got the allowed mileage at like 3000 per year, might be 6000, adjustable either way

[mr_maxime]

I was using 25k for its current state as a disassembled car with no engine and transmission, not its future running state. My main concern right now is a fire or tornado taking out the garage.

I should have called around more, but I figured that other people have electric conversions and most of them are not bolt on kits. I didn't think it would be this much of an issue.

[CFI]

I went with Grundy for Collectors car insurance. It's covered for $35,000 and 300,000 for bodily injury and uninsured motorists. $358 a year, full windshield and covered towing, spare parts, trip break downs etc...I think I got the allowed mileage at like 3000 per year, might be 6000, adjustable either way

Be careful with Grundy. The reason they are so cheap is because they expect your car to be inside of a locked garage 99% of the time, with only a handful of driving sessions per year. Ask me how I know

The “unlimited mileage” that some insurance companies claim is very deceiving, as it makes you think you could drive your car everyday. The truth is they expect your car to leave the garage only a couple of times per year. That’s how they keep their risk, and your fee, low.

[David T]

Be careful with Grundy. The reason they are so cheap is because they expect your car to be inside of a locked garage 99% of the time, with only a handful of driving sessions per year. Ask me how I know

The “unlimited mileage” that some insurance companies claim is very deceiving, as it makes you think you could drive your car everyday. The truth is they expect your car to leave the garage only a couple of times per year. That’s how they keep their risk, and your fee, low.

That's why they call it Collector's Insurance! In fact, they ask you straight up, where the car is stored. Most companies, it MUST be inside. And by keeping the mileage low it limits the use and the chances of anything happening. They don't want anyone buying this kind of inexpensive insurance and using it as a DD with the much higher risk. Check with your homeowner's policy, Some will insure hobbies and projects so maybe you already have some coverage for a disassembled car. It can't be registered or they will tell you to get car insurance.

[mr_maxime]

My renters policy and DeLorean policy were both through state farm. They checked with underwriting and said there is nothing they could use to cover my car as it currently sits. Makes no sense to me.

Grundy said they'd consider a diy conversion, but one I got the application I saw they had the car listed as unmodified drivetrain. They will not cover a project unless its at least 80% finished though.