obtaining proper insurance

[nh500sl]

I just puchesed a pristine 1983 500 sl with the AMG trim Package and wheels. It only 60,000 miles. The car has recived 20,000 miles with in the past 12 years. It has also always been gradged kept. The car is in great shape and it got a great report form the inspection. I hope that the insurance company dosn't ask me what I payed for this car and base the value on that. I feel that I got a very good deal and I have not seen any configued like mine before or with such little milage in my area. I will have to check, but I'm afraid that the car might be to yound for classic car insurance. Hopefully that is not the case. Any other ideas?


Thank you very much.

[RickM]

They wont ask what you paid. However, they will pay out book value for a total loss....no matter what they tell you. The only way to get market value for your car is to have an agreed value policy.

The problem with this type of policy is that it's typically given with a "classic car" coverage where you can't drive to work...at all.

[DanielG]

I recently looked at this very issue and moved my car -- 1986 560SL -- to Chubb insurance. They provided an agreed value policy. I live in north suburban Chicago, my previous policy with State Farm (who does not have an agreed value policy) was about $850 per year, the Chubb policy costs about $900 per year. There are no limitations on mileage, parking etc.

I have no connection to State Farm or Chubb, other than being insured.