I've taken out a policy with Hagerty. The price of the premium was in part based on my usage estimate of no more than 5K per year.

On the advice of a friend, I reduced the stated value to $10k (far more than I currently have in the car) - I can always increase the stated value of the policy as I pump more $ into the car. Annual premium will be $191.00.

All of the companies I checked have the same general disclaimer - not to be used for regular transportation (except for Sneed, which for an additional $50/year offers a 9 to 5 rider that allows to-work usage 2 times a week).

Some of the usage language was more restrictive than others. Hagerty was more general: club related usage - OK, occasional pleasure usage - OK, for profit use - Bad. Must be parked in locked garage - preferrably at home, when not in use. When in use, due diligence must be made to secure the vehicle from damage.

Some insurers offer more miles per year, but at some point, they're all gonna say "no thanks", as the chance of loss payout increases dramatically once mileage goes above a certain level. This "certain level" varies from region to region, and is also related to the type of car and the driver too.

For me, it's not the $ that are the big concern. If I have to worry about $50 or $75/year between insurers, one could logically question why I'm even getting a car that is eligible to be insured in this fashion.

It only costs about $600/year to insure my '92 300SE. Of course, if there's a loss, I'm screwed, because anything more than a parking lot dent is probably going to total the car.