Insurance Valuation question

[Doogie]

Now that 3589 moves on it's own, it needed to be insured before it leaves the parking lot I spun around in last week. Called my insurance agent, who required pictures, and the next day (this morning) I rec'd my insurance card in email.

I valued the car at $25,000, thinking this would be what it would cost to replace the vehicle (i.e. purchase a replacement off ebay)

He's fine with that, but asked me to come up with some sort of validation of that number. He left it with me to come up with as he thought I would probably have better luck than he in researching.

So other than "That's what they cost on ebay", how would I 'appraise' my vehicle? Or can I actually get it appraised?

Thoughts?

Doogie

[Cory W]

You can get it appraised, but who's to say they have any idea what these cars are worth? Some will take your money and write whatever you tell them.

-You can also see some great threads like Ozzie's 18+ month (and running) eBay valuations.

-delorean.com cars for sale....they're mostly higher end, but sometimes a "diy" car will pop through.

-Also check out other online classifieds.

If you're not quite getting the numbers you're looking for, show the agent the delorean site cars, and tell them they're "extensively refurbished for sale" to justify the higher price.

[Rich]

Glad to hear of another D resurrection.

First, you may wish to look at other agencies or policies, depending on how you plan to use the car, where it's kept and what other cars you have. Collector car insurance can be a good option. Other threads exist on that subject. You would likely avoid the need for an appraisal with such a policy because those outfits underwrite many DeLoreans already.

As far as what to do for your agent, there are decent auto appraisers in every US metro area. This one came up on the first page of a websearch for your city and there are probably others there as well. Talk to any of them, tell them what you told us and see where it goes:

http://www.cincinnatiautoappraisers.com/

Expect to pay a reasonable fee for a written appraisal.

[stevedmc]

I would be careful showing him eBay listings because many of these "perfect" cars are in need of several thousands of dollars of work.

I would show him whatever DMCH has listed on their website, your original bill of sale, and whatever receipts you have for the work you have done.

[jawn101]

I would be careful showing him eBay listings because many of these "perfect" cars are in need of several thousands of dollars of work.

I would show him whatever DMCH has listed on their website, your original bill of sale, and whatever receipts you have for the work you have done.

+1, this is what my agent wanted for agreed value. Bill of sale and records of what I've put into it was more than enough for them to accept my value.

[LEVY]

I contacted one of those antique & classic vehicle insurance companies, $25,000.00 was a fair price for them, the only thing is that they asked for pictures of a enclosed garage. They even encourage you to drive and enjoy your car, they know you are going to take good care of your car.

LEVY