One of the most commonly asked questions on the mailing list. DML-er Dave Stragand compiled a sort of FAQ on the subject.
DeLorean Insurance Misconceptions:
parts availability is scarce and that if there is a claim, it will be difficult
and costly to get the car repaired.
DeLorean Motor Company in Houston, Texas (http://www.delorean.com):
the DeLorean factory in Northern Ireland closed in 1983, the remaining parts
inventory, as well as all the parts from the U.S. dealer supply warehouse, were
moved to a facility in Columbus Ohio. These
parts included body panels, glass, engines, transmissions, interior trim –
literally everything needed to build and repair the DeLorean DMC-12.”
Motor Company has a 50,000 square foot warehouse full of inventory. They also perform mechanical service and body/frame and
visit their website to compare the cost and availability of replacement parts.
In most cases, a DeLorean owner can receive replacement parts overnight.
The majority of replacement parts are less expensive, and more easily
obtained, than comparable parts from a present-day European import.
addition to DeLorean Motor Company, there are reputable service facilities in
Radnor, Ohio; Long Island, New
York; Atlanta, Georgia; McCleary, Washington; and
two in Los Angeles, California.
are many gray market vehicles coming into the United States… and insurance
companies are hesitant to insure these vehicles.
DeLorean was 100% completely designed for the U.S. market as a U.S. vehicle, and
approx. 98% of those produced from 1981-1983 were shipped to the U.S.
There was/is in no way a “gray market” vehicle.
built in Northern Ireland, the DeLorean was considered an American car, and was
(and still is) considered an American marque -- DMC was a U.S. corporation,
headquartered in New York City.
something were to happen to the car (like a fire) that required substantial
replacement parts and repair work, it would cost more than the vehicle was
an insurance perspective, this makes absolutely no sense.
If the car were so heavily damaged, the insurance company would simply
"total" the car and reimburse the owner the stated/agreed value.
DeLorean is too powerful a vehicle for U.S. roads.
Hardly. In fact, the car’s
distinct lack of power has always been its biggest shortcoming.
The DeLorean engine is a “PRV6”.
It’s short for Peugeot-Renault-Volvo.
This same engine was used in the 1982 Volvo GLE.
It’s rated at a scant 138 HP.
DeLorean would have a difficult time competing in today’s market, as even a
Volkswagen Jetta could leave the DeLorean sorely lagging behind.
DeLorean is an unsafe vehicle.
you know that the DeLorean was rated one of the safest (if not the safest) car
on the road in 1981? The original
name of the DMC-12 was the DSV, which stood for “DeLorean Safety Vehicle”.
It was designed from the ground up as an “ethical” car, with a strong
emphasis on safety.
of the early development work on the car was actually funded by the Allstate
insurance company as a safety vehicle, and although the car lacks some of the
safety features which are being so heavily marketed today (like airbags), the
vehicle itself has a very good safety record. Much thought has been put into the
safety aspects of the car, which pioneered specially-engineered crumple zones to
absorb impact energy.
DeLorean is a target of theft rings.
your insurance agent to investigate for his/herself what the actual number of
DeLoreans stolen in the last twenty years.
Compare this to the number of Toyota Camrys stolen this very morning.
It’s amazing that insurance companies would insure the Camry!
when compared to the relatively low production numbers of the DeLorean (around
8,500), there simply is no basis for this argument.
Your insurance agent, if s/he is actually investigating the statistics
(and not just trying to avoid doing the extra paperwork for an unusual vehicle)
will certainly find this to be true.
company simply doesn’t insure DeLoreans…
your agent to run a check on their systems.
In most cases they will find several if not hundreds of them
underwritten. Ask them to compare
their rate of claims against any comparable model (1981 Corvette, Mercedes,
280z). The DeLorean will be the
lowest rate of claims in the bunch.
Farm, for example, is a favorite company of DeLorean owners, insuring hundreds.
Amusingly, many underwriters there will say that State Farm doesn’t
insure DeLoreans! It often takes
two or three tries with an underwriter to get him or her to look into their own
systems to see how many DeLoreans they actually do cover. State Farm may refuse
new customers with DeLoreans, but will generally add them to existing policies
at surprisingly low rates.
short, the DeLorean DMC-12 is nothing to fear.
Facing your insurance company, though, can be tricky.
Unfounded misconceptions can cause your agent to back away from you
quickly. It’s important to know
about the vehicle you are attempting to insure.
You need to do your homework, and you need to insist that your agent do
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