Thoughts on getting an appraisal?

[tirwin]

Seen a bunch of members having unfortunate luck with accidents lately and it has me thinking that it seems like it might be a good idea to get a professional, independent appraisal done every couple of years.

The thing is I'm not sure it would mean anything unless you went to court. I imagine an insurance company will bring out whatever data supports their low-ball claim.

At the very least, I'm keeping meticulous records now of everything I do.

What do you guys think? Would it be worth the cost of an appraisal?

[JohnJL]

I get them all appraised periodically. It takes the emotion out of everything. You can choose your level of coverage and what you want to pay for. It also gives you a factual basis from which to negotiate at the outset. Insurance companies want to settle fast, quick and quietly. If you have appraisals and are well-informed at the outset, you have a better chance of getting the settlement or repairs you want.

[tirwin]

Good info, John.

When I bought my '83 I got insurance for the first month through my normal insurance company I use for our DDs. (In Georgia, you have to have insurance in an electronic database before you can register the car and get a title. I went with them while I researched classic car insurers.) My normal insurer was 4x as expensive as the coverage I got through a classic car insurer! With the classic car insurer I have an agreed value policy with unlimited miles. I suppose if something happened I would let my insurance company duke it out with the other person's.

[fred cook]

I had my SC apparaised after a new paint job and interior. Insured it thru Leland West for the appraised value as "stated value". Now, no worries when I drive the car!

[tirwin]

Fred, you didn't happen to have it appraised by someone in Hotlanta did you?

[fred cook]

Originally Posted by tirwin

Fred, you didn't happen to have it appraised by someone in Hotlanta did you?

No, I used an antique/classic car appraiser in Tifton, Ga. His buisness is known as "Autoquest". He sells antiques, street rods, sports cars, etc. Name is Bob Kinon.

[wayner]

The insurance company that I deal with won't even insure a car of this age without a prior appraisal and a refresh of that document every few years.

It is like an exit clause in a business partnership. Both parties know in advance what the situation will be if things go bad.

[tirwin]

Originally Posted by fred cook

No, I used an antique/classic car appraiser in Tifton, Ga. His buisness is known as "Autoquest". He sells antiques, street rods, sports cars, etc. Name is Bob Kinon.

Thanks for the tip, Fred! Maybe a good excuse for a road trip.

[tirwin]

Originally Posted by wayner

The insurance company that I deal with won't even insure a car of this age without a prior appraisal and a refresh of that document every few years.

It is like an exit clause in a business partnership. Both parties know in advance what the situation will be if things go bad.

That's interesting... never heard that before. The more I hear, the more I'm convincing myself this is the right thing to do.

[Driver_X]

PCA will assist members in determining a value. You might want to contact them.

[jplucas]

Originally Posted by Driver_X

PCA will assist members in determining a value. You might want to contact them.

What PCA sent me I found to be of little value. All it did was give ranges of what cars have sold for. I guess it's better than nothing but it's basically a form letter and they did not take in consideration anything about my actual car. With low mileage cars (mine is less than 45k) finding comparable sales can be difficult.

[fred cook]

Originally Posted by tirwin

Thanks for the tip, Fred! Maybe a good excuse for a road trip.

If you decide to come south, let me know and I will try to meet you for lunch in Tifton.

[McLovin]

Originally Posted by fred cook

I had my SC apparaised after a new paint job and interior. Insured it thru Leland West for the appraised value as "stated value". Now, no worries when I drive the car!

If you really have a "stated value" policy, as opposed to an "agreed value" policy, you have a lot more to worry about than you think.

If it is truly a stated value policy, you don't have the protection you think you do.

[Crude Rudy]

Hagerty stated value of $25K for the 84 Cab = $309/yr and no worries about sleeping at night.

[fred cook]

Originally Posted by McLovin

If you really have a "stated value" policy, as opposed to an "agreed value" policy, you have a lot more to worry about than you think.

If it is truly a stated value policy, you don't have the protection you think you do.

It is actually an "agreed value" policy. All State Farm would offer was the stated value
type policy so I went with one of the specialty car insurance companies (Leland West).

[POS]

Hagerty and I have an agreed policy on all my old cars; I tell them how much I want to insure for, they say "great" and hit me a premium. I always over-insure.

[dshepp806]

Looking at having my 89 S.A. Edition repainted and interior restored, I'm looking at getting such an appraisal done,.....upon completion...

Good point, I think. (along side of as good agreed-upon policy)

BEST!

Doyle