This discussion has reminded me of a question I had the other day. How does one go about insuring and older car that has been restored. Let's say you have a car that might have a book value of $8K, but you've spent $6-7K restoring it.

Obviously, it's worth more than $8K to you. Maybe it's worth more than $14-15K to you. Perhaps you could even get $20K for it at an auction. How do you insure that? Can you? Do insurance companies offer riders or something like that to cover the additional value? Or do you just drive carefully and pray that nobody runs into you?

__________________
" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century

OBK #55

1998 Lincoln Continental - Sold
Max 1984 300TD 285,000 miles - Sold
The Dee8gonator 1987 560SEC 196,000 miles - Sold
Orgasmatron - 2006 CLS500 90,000 miles
2002 C320 Wagon 122,000 miles
2016 AMG GTS 12,000 miles

That is called "agreed value" insurance, I don't know that much about it, but companies like Hagerty or others offer it, they have advertisements in collector car magazines.

An agreement is reached about the value of your car with the insurer, after I would presume an appraisal, and the car is insured for that amount.

However, therfe are restrictions with collector car insurance, with very low mileage driving requirements, usually 1,000 to 2,000 miles per year is allowed in the typical cases.

Agreed value insurance I think wouold be difficult to get for a restored car being used as an everyday driver, because the risk to the Insurance companies would be simply too high, as with zero deductible insurance (because the Insurance companies would go broke paying for every single parking lot ding to be repaired.)

__________________
1991 560 SEC AMG, 199k <---- 300 hp 10:1 ECE euro HV ...

1995 E 420, 170k "The Red Plum" (sold)

2015 BMW 535i xdrive awd Stage 1 DINAN, 6k, <----364 hp

1967 Mercury Cougar, 49k

2013 Jaguar XF, 20k <----340 hp Supercharged, All Wheel Drive (sold)

When my wife's sister first bought her '86 300E, which I now own, a little old lady ran a stop light and t-boned her car on the passenger's side. I have the bill to the insurance company and it is around $14,000!

The repair was pretty good but, if you know about the accident,you can spot where the hood is a little bit out of adjustment and the paint job on the damaged side is deteriorating much more then the original paint on the other side. That's not to say your car need to turn out that way but be sure you take it to a really good body shop and don't let them scrimp on the paint job!

Good luck! If I had my way, a driver causing an accident while talking on a cell phone would get the same penalty as a DUI driver. I've been nearly hit both walking and driving more than once by such drivers.

__________________
1986 300E
1993 Volvo 940 Wagon
1984 Volvo 240 (daughter's)
1976 Dodge 1/2T pickup, gas hog

Obviously the cost to repair it depends on the extent of any frame (actually unibody) damage. I had similar damage to a Cadillac CTS when not one but two cars backed into it when it was parked opposite a driveway on a dark street. Two teenage inexperienced drivers came screeming out of the driveway in reverse and never saw my car. The second one to hit it never saw the first one hit it.

Two doors needed replacement but no unibody damage. $2600 was the bill and it was paid by both driver's insurance (50/50). I'd speclulate that you'd be looking at $3K if no body damage is found and $5K if so but still not totalled. Insurance companies have pretty good control on costs but it is your choice as to where it is done so bring it someplace good with experience working on Mercedes cars...ask your dealer for recommended body shops.

__________________
Marty D.

2013 C300 4Matic
1984 BMW 733i
2013 Lincoln MKz