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Thread: DeLorean car insurance

  1. #111
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    Quote Originally Posted by Jason View Post
    Notice is says "pleasure driving only". I know from talking with them that their idea of "pleasure driving only" is not often to work or to stores. You can definitely not do whatever you want, at least according to them. I have no idea what would happen if they tried to deny a claim and it went to court.
    You should definitely buy more expensive insurance from another company. You are obsessing too much. In the end all insurance companies try to screw you.

    The website says you can drive it to work, pleasure driving and collector car related activities. It even mentions about parking at a hotel. How is that different than going to the store?

  2. #112
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    Quote Originally Posted by DMC VIN 6639 View Post
    You should definitely buy more expensive insurance from another company. You are obsessing too much. In the end all insurance companies try to screw you.

    The website says you can drive it to work, pleasure driving and collector car related activities. It even mentions about parking at a hotel. How is that different than going to the store?
    I've found that if I'm honest up front about how I use my cars the collector insurance companies just refuse to issue me a policy (despite a very long, clean record). I could lie, or just not say, but that seems really risky. So, yes, I have more expensive insurance through a normal insurer. And yes, I still run the risk of not getting full value for my cars if something happens.

    I did try to find a more expensive non-collector agreed value policy, but no one seems to want to do that either.

  3. #113
    Senior Member mr_maxime's Avatar
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    I'm pretty sure that if you lie to get coverage, you'll just be wasting money at best. When state farm learned that my car was not in driving condition, they stopped my policy. It had daily coverage on it before while I was driving, but I wanted an agreed value in case of fire or storm damage now that I'm not driving it daily. Better to find out you're not covered up front, than to pay for months only to find out they won't cover you when something happens.

  4. #114
    DMC Midwest - 815.459.6439 DMCMW Dave's Avatar
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    Quote Originally Posted by mr_maxime View Post
    ....When state farm learned that my car was not in driving condition, they stopped my policy. It had daily coverage......
    Interesting! I have two cars that I don't drive in the winter. (Typically 11/15 thru 3/15 or so, otherwise known as Salt Season.) I simply call my agent and tell him that the car is in storage and they drop all coverage other than comprehensive. They are in operating condition but they have never asked about that.
    Dave S
    DMC Midwest - retired but helping
    dswingle@DeLorean.com

  5. #115
    EFI'd dn010's Avatar
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    USAA also has a storage option and other options for disabled or a vehicle that is in a shop for repair. I use storage option for my seasonal vehicle for all but one month out of the year but you have to acknowledge the vehicle is located in a secure location and not sitting parked in the road in front of your house. I also had coverage on many vehicles that were undergoing restoration but nothing that was ever long term, I don't know how they'd ever find out about it unless you tell them.
    -----Dan B.

  6. #116
    Delorean Guru
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    Every State has different rules. In NY if you take the insurance off you MUST turn in the plates. I know of someone that had a Corvette and in the winter he would store the car. To save on the insurance he would drop the policy but the insurance company reports to the State and if you don't turn in the plates and reg the State will fine you for not having insurance on a registered vehicle. This is mainly so people can't get a policy, get plates,show proof of insurance and then cancel the insurance and still drive around. Big problem in NY, uninsured drivers. In some States if you have a car IN YOUR DRIVEWAY without plates they can fine you and ultimately have your vehicle removed from your own property! Some States are NOT car friendly! Bottom line, you should know the rules in your State. Having someone in another State tell you what they can or can't do is irrelevant. A good source of information are local car clubs in your State or the DMV in your State or your local police department.
    David Teitelbaum

  7. #117
    Senior Member mr_maxime's Avatar
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    Quote Originally Posted by DMCMW Dave View Post
    Interesting! I have two cars that I don't drive in the winter. (Typically 11/15 thru 3/15 or so, otherwise known as Salt Season.) I simply call my agent and tell him that the car is in storage and they drop all coverage other than comprehensive. They are in operating condition but they have never asked about that.
    To get agreed upon value for collector insurance, they need pictures of a show worthy car. I told them it was not cause it was in the middle of being restored. I dont think your situation causes any issues since the cars are still operable. My disqualification is pretty clear, but im not sure how far you have to go before it qualifies. If your fuel pump dies on a Saturday and you can't fix it until the next saturday, is that inoperable?

  8. #118
    EFI'd dn010's Avatar
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    Quote Originally Posted by mr_maxime View Post
    To get agreed upon value for collector insurance, they need pictures of a show worthy car. I told them it was not cause it was in the middle of being restored. I dont think your situation causes any issues since the cars are still operable. My disqualification is pretty clear, but im not sure how far you have to go before it qualifies. If your fuel pump dies on a Saturday and you can't fix it until the next saturday, is that inoperable?
    There are many instances where the car will be out of commission but still considered operable. I got hit in my old daily a few years ago, was in the shop for two months - still covered. If you just need to drop a fuel pump in it then it will be no problem. Your car is in the middle of a restoration, not on the road, not a liability to others - ask yourself why in the world would an auto insurance company would insure you for this long term process? You need to work with your home/renters insurance in order to cover this and that is IF they accept it but as stated dozens of times, get it in writing and not just an email. Right now you have a possession, an assembly of parts, not a roadworthy car if you can't legally drive it down anytime soon.
    -----Dan B.

  9. #119
    Senior Member mr_maxime's Avatar
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    Quote Originally Posted by dn010 View Post
    Your car is in the middle of a restoration, not on the road, not a liability to others - ask yourself why in the world would an auto insurance company would insure you for this long term process? You need to work with your home/renters insurance in order to cover this and that is IF they accept it but as stated dozens of times, get it in writing and not just an email. Right now you have a possession, an assembly of parts, not a roadworthy car if you can't legally drive it down anytime soon.
    Why would they insure me? Like you said because my car is not a liability to others or myself which makes is considerably less risky than my $500 daily driver. Basically the same reason collector car insurance limit mileage, less driving means less claims. I already had comprehensive coverage on it. So whether the car is in pieces or whole and the garage is destroyed through fire or tornado, doesn't really make much of a difference when you're left with nothing either way. Statefarm is also my renter's insurance provider, but they do not cover inoperable vehicles with it. Which also seems weird, cause like you said it's just possessions at this point like anything else in my apt.

    I'm covered through American Collectors now though.

  10. #120
    EFI'd dn010's Avatar
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    I have has this problem in two different states and a few different insurance companies that would not bother with my restoration projects I had going on at the time for a variety of reasons - it's not worth it for us to insure, too easy to claim it was stolen, if your house burns down home insurance needs to cover it, etc etc etc. One home insurance policy would make an exception but it wasn't worth it but this was early 2000's at the time. Thinking this was ridiculous I hunted the internet and found that I was not alone with this problem and just gave up until I had something I could put on the road. Maybe it varies state by state but at least you now have coverage.


    Quote Originally Posted by mr_maxime View Post
    Why would they insure me? Like you said because my car is not a liability to others or myself which makes is considerably less risky than my $500 daily driver. Basically the same reason collector car insurance limit mileage, less driving means less claims. I already had comprehensive coverage on it. So whether the car is in pieces or whole and the garage is destroyed through fire or tornado, doesn't really make much of a difference when you're left with nothing either way. Statefarm is also my renter's insurance provider, but they do not cover inoperable vehicles with it. Which also seems weird, cause like you said it's just possessions at this point like anything else in my apt.

    I'm covered through American Collectors now though.
    -----Dan B.

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