Hi,

I am thinking of purchasing a 1972 350SL. It is a nice car, but obviously it isnt a daily driver. Id like to get one as a little drivable project, hat looks nice and is rust free, but that I can fix stuff on.
Anyway, I have found one like this that I really like, but obviously I need insurance. Since it would have very limited use, and is old, I looked into classic car insurance. I got a quote of $68/yr for max coverage, and the ability to take it out and park it when out to dinner for example (somne policies apparently dont allow this).

The one stupid problem us that there is a requirement that you MUST keep it in a garage. I live in an apartment and as such do not have a garage. I do have a gated, manned secure parking lot, but that doesnt cut it.

I called progressive, but they want somewhere in excess of $700/yr for the car, even if I only drive it 2500 miles/yr.

I dont want to commit insurance fraud by saying its garaged and then having it under a cover in my lot, but I dont want to pay excessive amounts of insurance money for something that I dont drive regularly.

Any ideas what I may be able to do?
Im sure there must be others in similar predicaments.
Any advice is most appreciated. Thanks

JMH

__________________
Current Diesels:
1981 240D (73K)
1982 300CD (169k)
1985 190D (169k)
1991 350SD (113k)
1991 350SD (206k)
1991 300D (228k)
1993 300SD (291k)
1993 300D 2.5T (338k)
1996 Dodge Ram CTD (442k)
1996 Dodge Ram CTD (265k)

Past Diesels:
1983 300D (228K)
1985 300D (233K)

I carry a full coverage policy on my 65 Ford Falcon Futura (FFF) that costs $72 a year. Stipulations are #1... 2000 miles a year max and #2 ..... I have to have at least one other policy with Farm Bureau Insurance Co. Check around, you'll find one.

You might find such a policy through a "regular" ins co such as Stephen did.

I searched for classic car only ins co's and found nothing that suited my needs. I had to have a darn near perfect driving record, locked garage available 24/7, no drive to work or school and limits on mileage. I checked Grundy, Hagerty, American Collectors Insurance, Great American Insurance Group and a few others. A great way to go for a lot of collectors, but not if you use your classic as a daily driver. (like me )

THEN I called my regular ins co, and they have a program for collectibles. I don't have the details yet, but I'd imagine it has more liberal limits than the classic co's.

Try Allstate, American Family, Farmer's, and some of the other big one's.

Good luck!

You might want to check a copy of Hemmings Motor News... until the internet happened that is where all those type speciality people advertised... and I suspect still do....

I agree with the others. I've added my 59 190Db to my existing auto policy. Adding the car added only a few dollars a month to my policy, and Metlife has no special classic car provisions.

Well then progressive must be really lousy, as they wanted to add ~700/yr on for the 72 SL...
Ridiculous, since Id drive it maybe 2500 miles a year...

JMH

__________________
Current Diesels:
1981 240D (73K)
1982 300CD (169k)
1985 190D (169k)
1991 350SD (113k)
1991 350SD (206k)
1991 300D (228k)
1993 300SD (291k)
1993 300D 2.5T (338k)
1996 Dodge Ram CTD (442k)
1996 Dodge Ram CTD (265k)

Past Diesels:
1983 300D (228K)
1985 300D (233K)

which will pay you what the car is worth rather than what some book says its worth should something terrible happen. GEICO has antique car rates...you might also try the Classic Car Club of America or Model A Ford Club for some pointers.

On my car I specified the amount I wanted. I had to submit very detailed photograghs and they agreed to the value. My premium was derived from that figure.

did you try www.hagerty.com for a quote?

With Hagerty, one of the requirements is a secure/locked garage. This is the case with virtually all of the classic car ins co's advertised in Hemmings etc. Hence one of the reasons for ultra-low premiums.

Wish I qualified, because when you have an agreed upon value, there's no arguing $$ if your car gets hit or totaled. I battled Enterprise Rent-a-Car (self insured) for 3 months over the value of my collectible when one of their clients hit me -- his fault-- and totaled my car. Finally they gave in and paid me out a decent sum and gave me the wreck, which I parted out. If I only could have qualified for Hagerty or some such co, it would have been a simple, painless process. But I don't qualify since I drive these old beasts on a daily basis in the summer. Simply part of the risk!