New York Insurance

[anthrope]

Hello,
    I just purchased a 1967 250SL. Having lived in Manhattan for a decade, I have simply not needed a car. After recently moving to Brooklyn, I thought it would be fun to drive a fun car such as the 250SL and went ahead and bought one (it's being shipped to me at the moment).

    The question I have for the New York-based members of this group is regarding insurance. Apparently, regular insurance will not cover the appraised value of the car (it covers only the initial sale price minus depreciation (which today would be practically zero). Collector car insurance is provided by a few companies, but only if this car is NOT my primary car. So, I find myself in an interesting situation where my primary car is my 250SL, but which for all intents and purposes won't be insured for collision and theft at appraisal value.

    Does anyone have an idea as to how to deal with this?

Thanks in advance,
Prashanth Nandavanam

[Douglas]

Have you tried Allstate? They were very fair with me when I owned another older vehicle a few years back and it was hit on the FDR Drive. At the time, I was living in Manhattan and it was my only car.

Douglas Kim
New York
USA

[waqas]

Try State Farm, and ask for an agreed-value policy. Not quite as bulletproof as a stated-value policy from a classic car insurance co, but still better than nothing.

WAQAS in Austin, Texas

[bhaehnen]

I was in the same situation and, after being turned down by all classic car insurances, folded and bought a "primary" car.

The insurance model they are using simply doesn't work for urban areas like Manhattan where people truly don't depend on a car as their primary means of transportation. I will drive either car very rarely, and now I am stuck with paying two garages. But it still seemed better than getting an overpriced "agreed value" policy (the quotes ranged from $3000 to $7000) with a regular insurance or god forbid drive around with liability only.

-B