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#1
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Insurance
How is your old benz insured? Have heard stories about totals because insurance companys put low value on them and want to make sure I am properley covered. When I insured it they asked me what I thought it was worth. Thought that was strange. Any input would be appreciated.
Thanks Jim |
#2
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I just insure the minimum amount I can.
It's one of those things I'd get rid of completely if I had the choice. Why should I want to pay $85/month on my $600 car? In 8 months I've paid the insurance company more than I paid for the car. Yet, if I get caught without insurance, it's a $1000 fine around here. |
#3
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I just had a claim on my van. It is a '96, special-ordered, owned since new, perfect condition, hit a deer. The body shop totalled it, the insurance company said they'd have to send an adjuster. Talking with the adjuster with documentation of its care and features, the adjuster printed a check for almost $3k over it's book value to repair it.
On my older cars, I watch ebay and autotrader et al, print the ad whenever a car similar to mine sells for a premium, helps to demonstrate Actual Cash Value of the automobile. For seriously unusual vehicles, I have them appraised, and insure for appraised value.
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Gone to the dark side - Jeff |
#4
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Actually, I just carry full coverage on everything, probably not a very good deal. In reality, I'm self-insured for anything major. The insurance would be useful for minor damage that exceeds my deductible, maybe a few $1000 dent. For major damage, the insurance company would probably want to total them, so I'd just end up paying to fix them myself. If I was smart I would change my coverage, but it's not something I've ever bothered looking into.
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#5
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classic car insurance is the way to go. Most cars over 20 years old qualify. I have all of my over 20 year old benzes on my AAA insurance for classic car. it is very cheap and I have tons of coverage. They even cover my 84 300D, even though it has a salvage title.
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Andrew Villasenor 805-720-5057 1984 300D turbo 5-speed manual(daily driver) ALL MY DIESELS RUNNING WVO Everything is for sale for the right amount Ebay Store |
#6
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Quote:
I get a real tickle that my company pays more in 3 months for parking my car at work than I did for my entire car. For what its worth any decent company will adjust their rates up to meet your needs for coverage.
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http://superturbodiesel.com/images/sig.04.10.jpg 1995 E420 Schwarz 1995 E300 Weiss #1987 300D Sturmmachine #1991 300D Nearly Perfect #1994 E320 Cabriolet #1995 E320 Touring #1985 300D Sedan OBK #42 |
#7
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Liability only.
I've met a lot of people who get screwed because they believe the insurance company has final say over how much they are going to pay. If they say it's only worth X, challenge them to find you one for X or under in similar condition.
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1983 300D 1978 BMW R80/7 1997 Jeep TJ |
#8
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Insurance
I put full coverage on my '85, which is in pretty good shape; not sure what is on the '87. For the '85, I spent $200 on a professional appraisal and took both copies to my (State Farm) insurance agent, had them keep one copy and sign the other and give back to me as a receipt. That way, if something happens to do significant damage to the car, they will have a much harder time trying to get out of providing me with a fair settlement. It's no guarantee, of course, but your attorney will smile when you hand him the signed appraisal.
For me it's not so much the actual cash value of the car as it is the difficulty of replacing it. I like my car and want to keep it. The longer I own the car, the better I know it and the more I'll be able to trust it, based on miles driven, maintenance performed, etc. It's hard to put a value on such a thing and if it is lost, I definitely want to be compensated. As we all know, finding 123s in good condition gets harder every day. Liability is a legal necessity in most jurisdictions. Not much to say there except that it's your decision based upon what you have to lose. We have lots of people here who drive a junk car with no license, expired registration, and no insurance. When they get caught, the car is impounded so they abandon it and get another junker. Most of us probably do not fit in that category. I carry $300,000 and probably should check on the cost of a million, what with the ridiculous jury verdicts we all read about in the papers. Uninsured and underinsured motorist liability (personal and property) is a relatively inexpensive coverage that many people choose to skip. In my mind, and depending on where you live, this is a mistake. If you get hit by a driver from the previous paragraph, you're on your own. The few times I've looked at "classic car" insurance it came with a very limited annual mileage limit and seemed to be for "show" cars that were rarely if ever put on the road. I would be happy to be disabused of this erroneous opinion if someone has actual experience. Jeremy
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"Buster" in the '95 Our all-Diesel family 1996 E300D (W210) . .338,000 miles Wife's car 2005 E320 CDI . . 113,000 miles My car Santa Rosa population 176,762 (2022) Total. . . . . . . . . . . . 627,762 "Oh lord won't you buy me a Mercedes Benz." -- Janis Joplin, October 1, 1970 |
#9
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Full coverage on my jetta and 300D. It defenetly came in handy when my 300D was vandalized, its what paid for the new paint!
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Current: 05 E320 CDI 07 GL320 CDI 08 Sprinter 05 Dodge Cummins 01 Dodge Cummins Previous 2004 E55 AMG 2002 C32 AMG (#2) 1995 E300 1978 300D 1987 300D 2002 C32 AMG(blown motor :[ 1981 300SD 1983 300SD 1987 300SDL 2002 Jetta TDI 1996 S420 1995 S500 1993 190E 2.6 1992 190E 2.3 1985 190E 2.3 5-Speed |
#10
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Quote:
HEY! Thats an idea. All I have to do is not fix my odometer......
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1983 300D 1978 BMW R80/7 1997 Jeep TJ |
#11
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Check out Sneed auto insurance. Car must be in very good to excellent condition (for those who qualify). They want several pictures. No mileage limit or only can be driven on certain days restrictions. Only thing is it cannot be your daily driver. Must show proof of daily driver's insurance. They give you a minimum of $7,500 of coverage even if your car is worth less. Price for my '84 300CD is $137 a year. Paul.
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1984 300CD red/blk 290,000 partial resto 1980 240D 4 sp Brn/palomino gone 1997 Mazda Miata STO edition wife's baby 1988 Lincoln Mark VII LSC next resto 1986 Subaru GL wagon daily 1993 Isuzu pickup field beater 2008 Honda Civic EX-L 5sp wife's new car 1978 Honda XL350 1974 Honda XL70 my Calif. ride in HS |
#12
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i use hagerty for my 240D which is perfect since its not a daily driver... they dont have any mileage limits but they do require you have other insurance for a daily driver and its super cheap... about 150 per year
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#13
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Classic car insurance is great if the car is a toy. Get into an accident going to work, and watch how fast they dump you. But if you can its real cheap.
I don't have collision on mine, its not worth it. But I do have fire, theft, glass breakage, and medical to $1M.
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1999 SL500 1969 280SE 2023 Ram 1500 2007 Tiara 3200 |
#14
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If you own anything of value you need insurance, if you are poor drive with no insurance and do not worry.
About 20 years ago my 220D 72 was totaled, I was stuck in a hopeless traffic jam in Houston street when a lady driving a large beat up Buick came out of a filling station, panicked and instead of the breaks stepped on the gas, the big thing dived into the side of my diesel and totaled it. The driver had no license, in insurance, no ID. no English, no money and when the police arrived she got a ticket. I was getting very nervous as she was going to walk away from this accident laughing, and she did. Police responding to my loud complains called me to a corner and quietly, off the record, advised that they are under orders to let “these people” go, and suggested that I settle the issue with my insurance and do not let my blood pressure to rise. Lessons learned the hard way, or, the law of the jungle. Vahe 240D 77 350K |
#15
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True, You cant use it for work or school on a daily bases, but Hagerty is saving me a bundle. I'm retired and my cars are "toys" that I can use for road trips or anything else as long as its not "the same thing every day" As in a commute.
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1985 Euro 240D 5 spd 140K 1979 240D 5 spd, 40K on engine rebuild 1994 Dodge/Cummins, 5 spd, 121K 1964 Allice Chalmers D15 tractor 2014 Kubota L3800 tractor 1964 VW bug "Lifes too short to drive a boring car" |
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