Pagoda SL Group

W113 Pagoda SL Group => General Discussion => Topic started by: Matthew Epstein on May 18, 2020, 20:44:47

Title: Insurance In USA (NJ) - Recommendation Needed
Post by: Matthew Epstein on May 18, 2020, 20:44:47

To all
I am finishing up a year long (plus) restoration of my 1967 sl280, 5-speed manual.  It was originally bought by my grandmother in Switzerland, shipped over to the US in the 1980's and I am the second owner.  In addition, I had the engine completely rebuilt several years ago (literally blew a gasket).  I live in NJ, and pretty much only use the car in the summer to drive down to the Jersey shore from my home in the NYC area.  I would much appreciate recommendations as to (1) how much to insure the car for (no real idea what it is worth) and (2) who is a good insurance company for this.
Thanks in advance,
Matthew Epstein

Title: Re: Insurance In USA (NJ) - Recommendation Needed
Post by: JN on May 19, 2020, 14:38:29

I have been using Hagerty for about 20 years now
I am extremely happy with them.
They have an agreed value policy
They also include a roadside assistance program with free towing.
I have mine insured for 75K, that is a personal choice for you
but I think it is an accurate replacement value
The more the dollar amount the more you pay.
Good luck with it fellow New Jerseyian!

JN

Title: Re: Insurance In USA (NJ) - Recommendation Needed
Post by: lowpad on May 20, 2020, 01:02:43

I have been using Chubb for several years for all of my "oldtimers."  If you want to get a quote, please contact Robert Greenberg at Hiram Cohen in Long Island -- he is extremely knowledgeable and responsive.  We have had a couple of claims with them and their team has been absolutely fantastic.  https://hiramcohen.com/about/leadership/. 

Title: Re: Insurance In USA (NJ) - Recommendation Needed
Post by: Chris Long on May 20, 2020, 01:27:16

Also in NJ and use Hagerty.

Title: Re: Insurance In USA (NJ) - Recommendation Needed
Post by: Matthew Epstein on May 21, 2020, 12:31:42

Thank you.  Very helpful.  I know a tricky question, but any suggestions on replacement value?  My 280sl is the 80th produced in 1967, manual 5 speed, and has been in the family since first bought - I have gotten suggested values from $75k to $250k. Or is the right question to insure for the cost to fix it if it has a bad crash?

Title: Re: Insurance In USA (NJ) - Recommendation Needed
Post by: Vander on May 21, 2020, 12:39:54

You want to insure your car for the full amount it will take to replace including sales tax. If you only insure it for a "bad crash" value let's say $30-50k and it is stolen and never seen again, what are you going to do? Not be able to replace it.

I am not sure of the extent of your restoration. $250k is for a full nut and bolt rotisserie restoration. When the underneath of the car is immaculate enough to put your sandwich on it and then eat it.

Based off your brief description and no pictures I would say insure for $150k.

Title: Re: Insurance In USA (NJ) - Recommendation Needed
Post by: StevenF on May 22, 2020, 18:49:17

I use:
Doreen Burrill

J.C. Taylor Insurance

Large Line Insurance Agent

Doreen@jctaylor.com

800-272-6785

Title: Re: Insurance In USA (NJ) - Recommendation Needed
Post by: Dutch on May 25, 2020, 15:39:57

I use Hagerty for all my old cars (>25y)

Title: Re: Insurance In USA (NJ) - Recommendation Needed
Post by: sandcrab59 on May 25, 2020, 16:14:06

There is Grundy.
I use them on my old M/B cars.
T

Title: Re: Insurance In USA (NJ) - Recommendation Needed
Post by: Matthew Epstein on May 26, 2020, 20:06:39

Thank you for the all the suggestions.  Very helpful.  Hope to see some of you at one of the group events.

Bests,

Matthew