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  #1  
Old 09-08-2003, 04:05 PM
lindajane's Avatar
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Location: SF Bay Area
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Insurance Worry......Keeping My Mercedes Pretty

Hi...

You know, with my 71 VW...I've had trouble in accidents etc, getting her fixed...It always worked out (I wouldn't leave them alone). But because of her age, there was talk of totaling her out.
My New Mercedes is an 83 turbo diesel in perfect condition. I want it to stay that way.
I'm going to have full coverage. If she gets damaged, do you think Insurance could give me a hard time about getting her fixed because of the age, even though its in Perfect shape? This is something I don't want to worry about....

LindaJ

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  #2  
Old 09-08-2003, 04:24 PM
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I don't know what state your from, but in mass, you can have the car apprised, then buy custom insurence for the true value of the car, per the estimated amount. Anyway, take pictures of the car and give them to the insurence agent to prove what shape the car is in, hope this helps steve
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  #3  
Old 09-08-2003, 04:25 PM
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What you have wrecked Emily in the past? You're still here to talk to us? You're not smashed into a zillion pieces? It didn't crumble like a stack of cards?
Sorry, couldn't resist.

I don't have any straight answer for you. You might want to talk to your insurance agent for that. They might be able to adjust the "replacement value" for you. I have my Imp insured as an R-titled beetle. I am really taking a chance with that one because I feel that I cannot replace it for under $5000. (try to find another untouched Empi Imp body)
I was taking chances with my '85 300SD. I was running her without full coverage insurance for the longest time until my wife talked me into getting full coverage. I park her in storage every winter but to replace her would be very hard.
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Old 09-08-2003, 04:46 PM
Old Deis
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Like he said, depends on the state you reside in. But it also depends on how hard you plan on hitting it. Most vehicles cost a lot to do even small repairs to. You just bought the car, and that should tell you about how much you could expect an insurer to spend to repair it once it gets bashed. Cost of repair vs, the cash value, less salvage is what you are faced with. (salvage does not amount to much if you whack them hard enough)
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Old 09-08-2003, 05:41 PM
Old Deis
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Like he said, depends on the state you reside in. But it also depends on how hard you plan on hitting it. With most vehicles it will cost a lot to fix even small damages. You just bought the car, and that should tell you about how much you could expect an insurer to spend to repair it once it gets bashed. Cost of repair vs. the cash value, less salvage is what you are faced with. (salvage does not amount to much if you whack them hard enough).
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  #6  
Old 09-08-2003, 10:15 PM
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You're better off knowing what the repair/total breakpoint is today. Probably a simple calculation to figure out what it'll be next year and beyond. It'll go down, not up. It will help you decide whether or not to carry comp and collision. Do you really want to pay $600 a year for comp and collision with a $500 deductible only to collect $2000 from a total loss when a fender and door get hit? These numbers are made up but probably not unrealistic. www.kbb.com says that the retail value of an 83 300D with 140K miles is $2450. You can't buy a nice one for that much money but run-of-the-mill policies are based on schedules like kbb.com, not market value.

Then again, if it's your only car...

Sixto
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  #7  
Old 09-08-2003, 10:43 PM
Randall Kress
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I'm actually a future insurance agent. I'm going to school in a few weeks... One thing I can say now is, you may want to get the best insurance you can, meaning, don't go the cheapest route. In insurance, you pay for what you get. With a car of the 300D's age, it may even be worth getting Classic Car Inurance, I know some companies like Grundy and Eastwood have "agreed value" clauses with unlimited milage in some instances. I'm not sure if you can get this with a 20 year old car... I do know this, Chubb (one of the more premium insurance brands) is a great company. When my car got hit, totally wasn't even a thought. Granted, it was a just a fender, but to fix the fender, it was about what the car's Blue Book was. Just some info to think about.
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Old 09-09-2003, 12:20 AM
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i totaled an 83 300cd , my insurance was going to pay me off with $1800. i produced ads of same year and similar miles,93000, from $4500 to $6500. few weeks later i got $5700. my full coverage $500 deductable is $850 p/yr.
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  #9  
Old 09-09-2003, 12:20 PM
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There is a HUGE difference in insurance companies and their rates and services. Your location also has a major impact on the situation. (Unfortunately Linda, California isn't on my list of "preferred" locations for buying insurance. I lived there for over thirty years, hence I know of which I speak.)

I have two cars that might present a problem for insurance, the '55 Austin-Healey and the '70 MB 280SL. Both are currently covered for "agreed-upon value". I had to get both professionally appraised. They are covered by the same company that insures my other cars, my home and my cabin. I looked into Classic Car Insurance from several companies and found that they were either too expensive, had too many restrictions, or both. My personal observation is that classic car insurance is a rip. My regular insurer covers both my "classics" for unlimited miles, and does so for a little over $150.00 each per year with $1000 deductible. (My only restriction is that I don't commute to work or school with them, neither of which is a concern at my age.) My insurer knows that I value the cars highly enough that I won't abuse them or place them in jeopardy. My previous carrier in CA restricted the driving miles, would have me declare the mileage annually and, one year, even asked me to bring the Healey in to verify that I was truthful. Was glad to eventually dump them.

The advice to discuss the matter with your agent is a good one. He should know the best route for you to take. If his response isn't satisfactory, it might be time to look for a new agent.

There are web sites that you can use to look for a good insurance company. Check them out well, though. The most expensive is not necessarily the best, but I would also shy away from any that appear to be fly-by-night operations. I found my insurer on the web and they have an agent in my town.

Cheers,
Wes
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  #10  
Old 09-09-2003, 02:15 PM
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Mercedes Insurance

Hi,
I have Triple A (AAA), California State Automobile Association....I've had good luck with them so far. In fact, I was going to take my car in again next week for a repair, but since my neighbor doesn't want to loose her good driver discount...well now i'm paying out of pocket, but thats another story.
Hopefully, with the Mercedes, my luck will be just as good with them. I assume from the responses that I won't look into "classic car" insurance.
I've found with these claims, it depends on who handles it, a total jerk or a nice guy, and with triple A, I can request a different adjuster, which I did 3 times once when my vw got hit....
Thanks Again,
Linda
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  #11  
Old 09-09-2003, 07:35 PM
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CSAA

Lindajane -

CSAA is probably as good as you will find there, especially if you have a track record with them and are getting a good driver discount. I would still check prices from time to time to make sure they're remaining competitive though. My days of sticking with one carrier forever (because I didn't want to risk not being able to find insurance) are over. I check the market now about every two years. Of course, I wouldn't change for just a few bucks. I last changed when State Farm's computer decided that my house had moved into a different town (it hadn't) and my homeowner rates were going to double. That prompted a couple of letters which got nowhere, followed by a search for a better rate. I saved $1200 a year with my new company. I shouldn't have waited so long to search... I hope I live long enough to get smart.

My only problem with CSAA when I had their insurance was when I was making my gradual move to AZ. I still had a CA driver license, but purchased my Toyota Tacoma new in AZ (not particularly wanting CA smog stuff on it). AAA in CA wouldn't insure an AZ truck and AAA in AZ wouldn't either because I had a CA license. I could get an AZ license, but then CA AAA wouldn't cover me on anything!!! They were protecting each others turf.
Other than that, they were OK and were my insurer for quite a few years.

Cheers,
Wes
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  #12  
Old 09-10-2003, 10:48 AM
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Lindajane,

The easiest way to not get screwed by an insurance company is to have self insurance. I mean just the part of insurance (collision and comprehensive) that covers your car. Find out what the insurance would cost plus the deductible and put that money in a bank account and don't touch it. If you are a careful driver, this will work for you. If not, buy the expensive insuracnce.

Eventually the bank account will be equal to the replacement value of your car and after that you will be ahead unless you have an accident that is your fault. That's how insurance companies make money, they take in more than they pay out and whatthey take in is out of your pocket. Overall, insurance is a negative sum game for the person that buys insurance so it should be limited to protection from large lawsuits and medical payments I.E. something that could ruin you financally, not just the loss of a low priced car.

P E H


Last edited by P.E.Haiges; 09-10-2003 at 09:26 PM.
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