JHZR2:
I restore Model T's as a hobby and when the car is finished it obviously has a value other than "what the market will bear". When I insure a car I take a copy of the Krause publication Old Cars Price Guide and show the agent the value listed. Antique car premimums are based on "declared" value, however I would argue that a 20 year old MB restored or maintained in pristine condition is arguably worth more than "totaled" book value. You can get a monthly copy at places like Barnes & Noble. It has a 6 range of prices based on condition and is based on information on nationally collected data. While it isn't as exact as NADA or Kelley, it does give a good indicator of "collectible" cars value. I would also argue that NADA, etc are guides which represent a used car that has not been brought back to above average condition. My '84 300D is in the same excellent condition of yours and if mine were damaged to that extent and the insurance company wanted to total the car, I would present the insurance agent with receipts of money invested, as well as the Old Cars Price Guide range of value based on a "collectible" car. I would also give them any photographs which show the condition. You should strongly let them know that this was your pride and joy, not some run of the mill used car.