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I have collector plates on a 1968 Mustang and a 1994 MR2 Turbo right now...
1968 Mustang is <$300 a year, 1994 MR2 Turbo is $4xx a year. Both of them have third party coverage with ICBC, although I think Hagerty (for example) has much better coverage for third party ie: you can set your payout value if anything happens to it.
I'd imagine the Mercs are about the same as my MR2 in the $400-ish range.
You must have another car under regular insurance to qualify for the discount though... and you can't drive to work or school, not even once a month.
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