Delorean Insurance Question

[Helirich]

I have my car under an "Antique" policy, but not antique plates, so there are no restrictions on where and when I go. The mileage on my policy is limited but my yearly driving comes nowhere near close to exceeding that. I have an agreed value of $80,000. If my car is deemed a loss, no questions asked.

You need to check the values of cars in similar condition and be honest with yourself as to how much money it would take to replace that car 100%. I got zero flak from my insurance at $80k. I had to send them pics but I sent more than they asked for like pics of the undercarriage, suspension, etc. 50k buys what 25k bought 7 years ago, so the "$25k rule" is now the "$50k rule". Bear that in mind when you assess your car's value.

Today I was talking to Hagerty about insuring a custom truck. I mentioned I might be switching to them with my Delorean also. I said I have $35,000 (not agreed) currently and was thinking of raising it to $50,000 (agreed) because I don’t see any nice cars in running condition for less that that.

Her comment, “we usually insure those cars for $80,000”.

I immediately thought of you and this post.

[monstertruck_gnar]

Hagerty insures mine for 80k at the cost of $112 a month. Really is a good deal, even though my other 4 cars and a motorcycle cost $120 a month through USAA.

[Helirich]

Hagerty insures mine for 80k at the cost of $112 a month. Really is a good deal, even though my other 4 cars and a motorcycle cost $120 a month through USAA.

I didn’t get a quote for the 80k because I didn’t figure my car was as nice as Micheal’s, but 50k was only $300 a year. I guess where you live makes a big difference.

[JSzabo]

I didn’t get a quote for the 80k because I didn’t figure my car was as nice as Micheal’s, but 50k was only $300 a year. I guess where you live makes a big difference.

Thanks a lot. Right now the Delorean is in a heated garage and I have it at an agreed value of $50k. I'm going to up it to $75k when spring comes around. I live in Illinois and the Chicagoland area so I'm not sure it afects the costs with my car. But thank you for what Hagerty insures them for. I will probably move up to that amount within a year.

[mhanch]

Hagerty insures mine for 80k at the cost of $112 a month. Really is a good deal, even though my other 4 cars and a motorcycle cost $120 a month through USAA.

Call USAA - they have a classic partnership with American Collectors insurance. I moved and am paying about $400/year. (value 60k)

[MacStainless]

Last year I finally upped my agreed value from $20k to $40k via JC Taylor. My policy went up by $93 for the year. I just got my renewal and all this talk has me wondering if I should bump it to $60k now. I'm not sure what the increase will be for the policy, but given the other talk here it may make sense to do it. IMO no Delorean should be insured for anything less than $40k. The value will only increase as the years pass and the old Rule Of Twenty is long gone.

[MrChocky]

Last year I finally upped my agreed value from $20k to $40k via JC Taylor. My policy went up by $93 for the year. I just got my renewal and all this talk has me wondering if I should bump it to $60k now. I'm not sure what the increase will be for the policy, but given the other talk here it may make sense to do it. IMO no Delorean should be insured for anything less than $40k. The value will only increase as the years pass and the old Rule Of Twenty is long gone.

If you're asking if you should, then you should. Insurance is cheap.