Author Topic: Car Insurance (Read 9287 times)

nirmal · « **on:** January 22, 2006, 22:20:51 »

I don't know how much you guys are paying for insurance but in Dubai I am unable to get any complete insurance cover for my 69 280 sl.I finally managed to get a third party liability cover ( minimum required to get a registration) for about $350.I believe Mo paid around $ 475 for the same.

I have been driving for over 10 years without any accident or claims.
Nirmal.
1969 white 280 sl

Cees Klumper · « **Reply #1 on:** January 23, 2006, 00:40:42 »

That is strange.

I have liability coverage (only) through Daimler-Chrysler; costs me around EUR 100 per year.

Cees ("Case") Klumper in Amsterdam
'69 white 280 SL automatic

Sven · « **Reply #2 on:** January 23, 2006, 16:30:31 »

What is the deal with insurance? I am in the US and after about of year and a half of work on the car will be finally putting my 280sl on the road within the next few weeks. This will be the first time driving the car, and obviously I have never had to get it insured up til now. The car is not show quality and is probably worth somewhere in the low to mid-teens $.

I was told I could register the car as an 'antigue' and get a break on insurance (due to limited annual mileage requirement presumably). I just plan on adding it onto my regular policy as is.

Any thoughts or considerations?

Raymond · « **Reply #3 on:** January 23, 2006, 16:42:28 »

Nirmal is in Dubai, so I don't feel qualified to offer any suggestions.

However, here in the US, Hagerty is a great company. As long as you have another daily driver car, and keep the antique in a closed garage, you can insure it for about $160. Before I did all the work on my car, I had an agreed value of $15,000 with comprehensive, collision with no deductible, and up to three 50-mile flatbed tows a year for $152. I can't drive the car for work but there are no annual mileage restrictions.

After the engine and paint, I called them and bumped the value to $25,000 and the policy went up less than $40. Great, friendly customer service.

Ray
'68 280SL 4-spd Coupe

J. Huber · « **Reply #4 on:** January 23, 2006, 17:52:11 »

I use American Collector's out of Cherry Hill, NJ. The yearly premium is about 135. Prior to that I had more traditional coverage -- it was a lot more...

James
63 230SL

bpossel · « **Reply #5 on:** January 23, 2006, 18:59:59 »

I use State Farm and pay $150 per year. Have full coverage (insured for $30k), just cant use it as a regular driver.
Bob

bpossel
Memphis, TN.
1971 280SL
1997 E320

Chad · « **Reply #6 on:** January 23, 2006, 20:10:41 »

What does a nice driver w113 cost in UAE? What does premium gasoline for it cost in UAE? Just wondering.

dldubois · « **Reply #7 on:** January 23, 2006, 22:34:36 »

I've also got mine w/ American Collectors for around $150 per year. It's also registered as an antique. Here in Texas the benefits of registering this way are: 1. Registration is good for 5 years instead of one. 2. I can have 1969 license plates on it. 3. No more state inspections.

Dana DuBois

1969 280sl auto
blue (906)
Corinth, TX

nirmal · « **Reply #8 on:** January 24, 2006, 01:20:41 »

In Dubai for our office fleet we have a rate of 4.25% of the value for comprehensive insurance. This does include high end cars, sports cars or 4 wheel drives. Auto thefts are unheard of here but the accident rate is very high.

Third party liabilty insurance is normally about $150 but for some reason insurance companies are not interested in our cars.

Gas is approx $ 1.70 for an imperial gallon (95 octane).

70chevelle · « **Reply #9 on:** January 24, 2006, 07:27:33 »

I am paying $175/year through State Farm for my 1970 280SL. It has an agreed value of $6,000, and Classic Plates. The classic plates eliminate the annual registration fee, but I still need an annual safety inspection. I'm only supposed to drive it once per week. My 1970 Chevelle costs around $420/year with an appraised value of $17,000, but it doesn't have classic plates since it is not all original. I have to pay annual registration and inspections, but no limitations on driving. I'm going to check out Haggerty to see if there are any savings.

70 Chevelle 13.7 @ 99.7
70 280 SL Silver/Black top
05 C230 Kompressor
03 Dodge Durango SLT

John A. Dean · « **Reply #10 on:** January 24, 2006, 09:21:07 »

In the US the best way to go is with American Collectors Insurance. The limitations are that your car can be only driven 2500 miles a year, must be garaged kept and they assume your driving is to events and shows and not to and from work. My 280SL costs me about $175 per year with full coverage and a value of $25,000, my 63 220SE costs about $120 with $15,000 value and my '67 VW surfer bus, while not really original, was still covered by them for around $120 per year.
I also have Louisiana antique tags on my cars which are permanent with no additional registration fees.

1969 280SL, manual, MB TEX, green/cognac

nirmal · « **Reply #11 on:** January 24, 2006, 09:31:51 »

Our insurance costs are much higher and the insurance companies do not offer proper cover for these cars.

On the brighter side we do not pay any income tax here.
Nirmal
1969 white 280 sl

Rolf · « **Reply #12 on:** February 12, 2007, 18:35:09 »

James? I was wondering if you still use American Collectors for your auto insurance. I just got a quote for 143.00 yearly. I am presently paying approx. 850.00 a year for full coverage through NJ Manufacturers. Also, if it's not too personal, what deduction are you carrying on comp and collision? Thank you

Rolf
Ridgewood, NJ
1966 230SL Auto
1992 300D

J. Huber · « **Reply #13 on:** February 12, 2007, 19:21:18 »

Hi Rolf. Yes -- I am and I think that is about my premium. I am really not sure of the coverage, however. I can look later. I think it minimal coverage compared to most modern car packages. (Maybe just covers the other guy if its your fault). Like you, I was paying a lot more -- then my agent suggested the "antique policy."... it has some stipulations but saves money for sure.

James
63 230SL

paulr · « **Reply #14 on:** February 12, 2007, 19:37:16 »

I have a 1970 280sl which has an agreed value of £46000 ($89713). I am a photographer ( which has an impact of my premium as I'm likely to be driving someone that earns their living from their looks )..!!? I drive everyday as my only car and do about 10000 miles a year. I have been driving and living in Central London ( which doesn't help either ) for 31 years and have 3 red light points on my licence. I have a £500 voluntary excess on my policy and have secured parking. I have a cat 2 immobilser fitted too and have 60% no claims bonus....My comprehensive premium?...................................................

...................................................................................£1270.50 per year ($2477) !!!!!!

paulr
lovely 1970 280 SL[:0]

Rolf · « **Reply #15 on:** February 12, 2007, 19:48:14 »

Hi James,Thank you. I have to check with my insurance company. They told me they have antique coverage and my car would be covered for the market value. I have to call them or stop by their offices and find out exactly what and how much will be covered. I got quotes from Hagerty and American, and American was about $60 a year cheaper then Hagerty was.

Rolf
Ridgewood, NJ
1966 230SL Auto
1992 300D

deacon · « **Reply #16 on:** February 12, 2007, 20:26:37 »

I'm just going through the insurance issue myself (No. California like James). I'm going with Hagerty because they will have an agreed value so if it's totalled or stolen they pay to that amount.

I have to tell you I was shocked when I read my annual insurance statement - where I have had my car insured for the last unteen years - that they had revalued the car (up) to $6,975. I'm having Hagerty insure at an agreed value of $40K. It will cost about $300 with a 3,000 mile cap.

For those who cover there cars with their their other "regular" cars and haven't checked the value they will use lately - PLEASE DO.

David
65 230SL
Blue Grey 162 - manual

Patrick · « **Reply #17 on:** February 12, 2007, 20:53:25 »

We are located in Southern Ontario Canada. Before we could get a license and insurance, our '68 250SL had to be safety certified by a registered mechanic/appraiser (never did hear of one of those before and fortunately the previous owner looked after that) and then have an appraisal done seperately. The appraisal cost was $100 initially and $50 annually after that. The value was $30,000 and insurance through State Farm is $180 annually with coverage for replacement value based on appraisal. There are no written exclusions excepting that it is not used for a daily driver and it is kept in a garage. An appraisal has to be done every year and submitted before they will renew the policy.

aomastu · « **Reply #18 on:** February 12, 2007, 22:11:07 »

With the collector/antique auto insurance, if you get into an accident not on the way to a car show, would the policy pay? I love a deal, but when is insurance not a deal? If they don't pay when you need them to pay.

In Texas, to get insurance for a daily driver, it is usually best to get an appraisal. Cost of this is about $100.

Without this, my agent would sell me liability insurance, but not collision.

I checked with State Farm and Farmers, the 2 big agencies in Texas.

I just have the minimum liability not. Cost is about $500 year.

'69 280sl
P.O. Box 150128
Austin, TX 78715

bsimaz · « **Reply #19 on:** February 13, 2007, 08:25:56 »

I also have a policy through American. I tried my normal insurance agent and they were too expnsive. ~hundreds $$. I talked to Harerty and when I told them that I would use the car once in a while to drive to work, only on nice days and only in the summer, they said they would not cover me.

Whatever. Through American I have a 2500 mile / Yr. limit on driving.

Bill Simaz
'66 230sl
Back on the Road

jsaylor · « **Reply #20 on:** February 13, 2007, 12:41:09 »

I got a quote from AARP that seemed ok without to many restrictions. Worth a look.

Jim Saylor
Kauai, Hawaii
'65 230SL

J. Huber · « **Reply #21 on:** February 13, 2007, 13:39:36 »

Well, looks like my policy w/ American Collector's is 143 a year with an agreed value (AV) of 21,500. When I first switched, they required a professional appraisal. I believe it was 17,000. That was 1997 -- prices hadn't spiked yet -- and to be honest, I thought it quite fair. Since then, they seem to raise the AV 500 a year... Considering mine is a driver and has some issues, I think my AV is still generous. Stips: 2500 a year (I hope they mean average from the time I bought it!)... and to and from antique shows? well, everytime I take it out of the garage, its more or less a show!

Signed, Henry (in case they are watchin')

James
63 230SL

Rolf · « **Reply #22 on:** February 13, 2007, 20:28:56 »

I went to American and Hagerty for quotes. The ones I received on an agreed value of 24,000 were, American 165 and Hagerty 211. Both companies are not requiring any appraisals, just pictures. I think I am going to go with American. They seem to have a better deal.

Rolf
1966 230SL Auto
1992 300D

cth350 · « **Reply #23 on:** February 14, 2007, 22:23:08 »

I was considering Hagerty, until they turned their noses up at my 1981 250lwb, which is a rare factory limo as it wasn't worth enough for them. I didn't mind the cost cut-off. I minded the fact that they didn't want to take my phone call and discuss the issue.

It's kinda a bad business practice to annoy somebody with 33 vintage mercedes and memberships on lots of boards like this one. -CTH

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Author Topic: Car Insurance (Read 9287 times)

nirmal

Sven

bpossel

Chad

nirmal

70chevelle

John A. Dean

nirmal

Rolf

paulr

Rolf

deacon

Patrick

aomastu

bsimaz

jsaylor

Rolf