On my 87 300D restoration, I went all out and I have put almost $1000 of parts and 100 hours of labor into this car, with new Shocks, struts, ball joints, Chain, chain guides, rebuilt brakes, control arms, control arm bushings, Air Conditioning, hood pad-----everything..and today when I went to insure it, I realized its not worth insuring it for Complete Coverage because my Insurance Agent told me that the book value is only $3000. (If I fixed the odometer to read true mileage --it's broken at 171 K--it would probably be worth $2500.)
Yet i would take my 87 300D Diesel over a $15,000 car off any Dealer's Lot any day...Can you imagine that this beauty that floats down the highway at 100 mph on 6 diesel cylinders is worth less than a 1999 Hyundia econobox or 1999 Ford Escort?
I was told by my insurance agent that my 87 300D is not worth that much if it got stolen or totaled and to only put liability insurance on it...Suddenly it dawned on me--IS IT REALLY WORTH IT to fix a car too well?

( No I would never tamper with my Odometer. But this is why I wont fix the one on my 87 300D which is frozen at 171 K even though I can fix it ( I bought it that way)..

This is a serious problem, it looks like the insurance companies have a license to steal from us. It seems the only recourse is to go to small claims court and the difference in what you can collect does not pay for the effort.
Dealing with progressive insurance co.
Help - my 300TD "totalled" by Insurance co
rear end crash advice
My beautiful car has been destroyed
my smashed 83 300D story is getting a lot worse...
Insurance settlement

That's why I don't carry collision coverage on my cars. It's a waste of money. But that doesn't keep me from maintaining my cars to the highest standards. You can't just give up on your dream of owning a mint used Mercedes because you fear it might get hit. That's like staying locked up in a closet because you're afraid you might get hit by lightning. I say drive carefully and avoid lending your car to others whom you don't completely trust, but don't set limits as to how much to maintain or restore a Mercedes. These cars deserve all the love they can get! I do know some members here have gotten fair settlements from insurance companies, but only after a lot of fighting.

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2004 VW Jetta TDI (manual)

Past MB's: '96 E300D, '83 240D, '82 300D, '87 300D, '87 420SEL

I own 1 vehicle that has compreshensive/collision insurance on it. Thats the 2003 Chevy Van we bought last year. Even my 2001 Mazada PU has liability only since I own it outright.

I refuse to carry full coverage on a car that I don't have to. Why, Its been 15 years since i have been in an auto accident that was my fault. And comp/collision is worthless unless you are at fault.

If you were to put the money you'd spend on the premium to insure what you think the car is worth in the bank and into long term bonds you'd be far better off. Plus occasionally you could raid that money for those new ball joints you've been needing.

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'84 300CD Turbo 132k (Anthracite Grey) - WVO - My daily driver - Recently named coo-coo-coupe by my daughter.
'84 300D Turbo 240k (Anthracite Grey) - Garage Queen
'83 300D Turbo 220k (Orient Red) - WVO - Wifes daily driver

I'm not a certified mechanic, but I did stay at a HolidayInn Express last night.

luckily I bought everything at MERCEDES SHOP FASTLANE

Some insurance companies will allow you to purchase coverage at a stated amount (which is higher than book value) if you think that your car has a value in excess of the book amount. I had to do this with State Farm a few years ago for an old convertible that I had. The only problem with this coverage is you need to be able to substantiate the value of the car in the event of an accident, theft, etc. I actually had to go through this process when a teenager hit me and totaled the car.

Thats one of the big problems I have with Insurance companies.

If they are willing to say they are insuring it for a specific value, you should have to prove that at time of insurance.. Not at the time of loss. When I was growing up my father had USAA insurance. I recall they used to inspect the car every 6 months if you had comp insurance. I imagine that was to assess its value and make sure you hadn't crashed it and failed to repair it. Thus lowering the value of the car.

Of course, in my opinion if they are accepting the primium for a certain amount. They should be required to pay out for that amount.

I just switched from GEICO to Progressive a couple days ago, because GEICO wanted $40 more per 6 months for both my Mercedes. I actaully had an amusing discussion with the GEICO rep.
He was trying to argue that regulations made it impossible for Progressive to offer that much lower a premium for the car. And tried to claim the coverage must be different. Despite the fact that I read it back to him word for word. (And was comparing both sets of paperwork). He then couldn't answer why if the price was so controlled via regulation that the stated coverage in the paperwork wasn't required to be acurate.

Personally I feel that all insurance companies are crooks. Don't get me started on Health insurance...

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'84 300CD Turbo 132k (Anthracite Grey) - WVO - My daily driver - Recently named coo-coo-coupe by my daughter.
'84 300D Turbo 240k (Anthracite Grey) - Garage Queen
'83 300D Turbo 220k (Orient Red) - WVO - Wifes daily driver

I'm not a certified mechanic, but I did stay at a HolidayInn Express last night.

hush... best kept secret is that an older MB is the least expensive car in the world to insure. Anybody checked insurance rates on SUV's lately?

Meanwhile use value makes older MB's the *only* choice for anybody who likes to drive and takes car ownership seriously. Maybe American consensus opinion disagrees with this, but its rare - very rare - that the best is also the most commonly owned vehicle on the streets.

If your pride is hurt but your wallet remains intact while you enjoy your diesel MB, then why should you care about "official" car appraisals that rate Vintage MB's with much newer crummy cars?

I am glad to be driving the most under-rated and undervalued car on the market - the humble 240D. Keeping the diesel in tip-top mechanical condition has its own rewards and if anybody thinks throwing money into maintaining an old MB is a waste of time, then they can go jump in the lake.

Hmmm, does what I throw into maintaining my vintage MB equal what I'd otherwise be spending on fuel expenditures with a less efficient vehicle replete with bloated insurance costs? Hell yes, i believe it does!!

Mumms the word - for somebody who knows what they are doing, older diesel MB's are the last word in economical and highly reliable, efficient trouble-free transportation.

Get to know these cars and you will never want to own anything else.

I actually just added collision/comprehensive insurance to my beloved 300SD. Since I'm making it nicer and nicer, and I live in the car theft capital of the world. I did have a few questions for my agent (allstate) He assured me that if I were to have a claim the value would be determined by looking for similar cars, in similar condition for replacement, not the blue book. That helped me, and since I lose about 1 windshield per year to the construction industry my premiums will pay for themselves.

i had my 83 300CD & spent alot of time & money, I didn't care what the book value is or was, Every time i go to the car wash or the store people always came up to me & ask about my ride! My car is gone, I still miss it! So no you have a better car than any newer car out there!

My 2 cents.

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"Bemind ful of the living force" Master Jedi

83 300 CD Black on Black Sold, which i reget selling!
92 Acura Legend dying
06 Dodge Magnum R/T very fast!!

I do not look forward to the day someone hits mine. I bet the insurance company will offer me $2k and I'll have to take them to court to get anything higher. Maybe after a year of fighting they will give me $4k Not to mention those $%%$ have me paying $2,600 a year even though my driver record is perfect. But they say it is a Mercedes they cost more to fix and your 18, bah.

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2016 Corvette Stingray 2LT
1969 280SE
2023 Ram 1500
2007 Tiara 3200

So, Why are you giving them $2600 pa if you only expect $4K for yours?
They must have a real sharp insurance salesman arount your area, to have you pay that much.

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Tony from West Oz.
Fatmobile 3 84 300D 295kkm Silver grey/Blue int. 2 tank WVO - Recipient of TurboDesel engine.
Josephine '82 300D 390kkm White/Palamino int.
Elizabeth '81 280E, sporting a '79 300D engine.
Lucille '87 W124 300D non-turbo 6 cylinder OM603, Pearl Grey with light grey interior


Various parts cars including 280E, 230C & 300D in various states of disassembly.

Thats what it cost an 18 year old to insure a car in CT. I don't have collision so if I hit someone I won't get anything. However after going threw a year long battle with my Camry to get a minor fender bender fixed I am sure the other parties insurance will try very hard not to pay a dime. For another year or so it looks like I am stuck paying $2,600 a year for theft and fire.

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2016 Corvette Stingray 2LT
1969 280SE
2023 Ram 1500
2007 Tiara 3200

I think Oklahoma has the cheapest insurance in the nation - said to be somewhere less than $300 per year.

It seems like every state has its own insurance regs. Maybe CT has the largest insurance lobby of them all which allows for all sorts of scams and swindles.

If only 30% of health insurance costs go directly into treating ailments.... then what percentage of auto insurance costs go into repairing cars??

don't be the dumbass I was when I had the "good" insurance. I literally spent 25% of the car's insured value every 6 months on insurance for 2 years before realizing it was all BS. I went to State Farm and told them I had a problem where presumably a city dump truck carrying rocks bounced over a pothole on the highway and I was bombarded with baseball sized rocks eventhough I was on the lane over. The company told me that they can't do anything. Luckily I only had a 1.5" scratch on the very front part of the hood right behind the chrome grill, and nothing else. But that ticked me off though. Instead, I just got the "basic" minimum crap and only pay $500 (with good student discount) every 6 months. Its better than the $1200 or so I was paying before As young people, we get the shaft all the time. True we cause wrecks, but so do old farts.. yet they get senior discounts on top of that.