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Old 07-31-2002, 03:09 PM
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Hammer Wagon Hammer Wagon is offline
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Join Date: Jul 2002
Location: New Jersey, USA
Posts: 103
Question Insuring a rare or modified Mercedes

Not wanting to rehash any tired threads I searched for tips on insuring modified cars.

The most informative thread was ERASE’s “E500 owner in trouble Help, Help!” but since the original issue was not the actual coverage I was only able to glean a few tips. Clearly stated coverage is the way to go, followed by replacement coverage for a car that can easily be valued by market prices.

My car will be roadworthy in the next few weeks, and I could use some advice as to how other owners insure their cars. In the case of a modified car, Renntech, Brabus, etc…the actual modifications can be documented. Since I am restoring a car that essentially has already been modified twelve years ago all I have to go on are the original cost and the cost of the actual restoration.

It would be difficult to impossible to establish a value for my car based on sales prices- I don’t think enough AMG Hammers trade hands, and the conditions vary so widely. There are books for collector car values, but these are often based on actual sales, and therefore subject to actual cars selling. There were some posts (ke6dcj) that mentioned an appraiser

<
His email is:
autoappraisals@earthlink.net OR
autoappraisal@earthlink.net>>>


The classic and exotics insurers have me stuck in the middle. The car is not old enough to qualify for classic coverage, and the mileage is too high (68K) for specialty/ exotic coverage. Apparently they expect everyone, including the previous owner to have limited themselves to 2500 miles per year. (15 over the limit just over two years ago didn’t help either, even though it was out of state.)

Additionally I don’t want a garage queen. I would like to use the car often, if not as a daily driver. I might be able to squeak under 2500 miles with my limited travel needs, but I don’t want to worry whenever I park the car at a restaurant or use it for a short business trip or even leave it outside the garage for a few hours.

I currently use Liberty Mutual for my auto coverage and the car is insured as per the VIN as a 1988 300TE. I called Liberty to ask about stated value on the policy. No one they could get on the phone could help- although I got to hear about “my son’s modified Corvette” for twenty minutes.

I would appreciate any advice from owners of modified cars, 500Es, rare cars or any other battle stories regarding stated value policies, how to establish these values, how to value modifications, appraise cars, how to avoid mentioning 0-60 times and horsepower figures to your insurer, etc..

Lastly, does a car appraise higher with synthetic oil in the crankcase? There I went and said it.

Thanks,

Dave

AMG 300TE 6.0
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