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Anyone ever have their car appraised?
- Thread starter ChrisK
- Start date
Chris,
I had mine appraised twice. Once at Volo Auto Museum and once at a place in Grayslake, I think it's called Chicago Auto Exchange or something similar. For insurance purposes those will probably do. You might want to bring along some research material for them so you can school 'em on what the car is.
I had mine appraised twice. Once at Volo Auto Museum and once at a place in Grayslake, I think it's called Chicago Auto Exchange or something similar. For insurance purposes those will probably do. You might want to bring along some research material for them so you can school 'em on what the car is.
I had mine done by Terry Shaw several years back. He is one of the best. The nice part about an appraisal is there is no haggling with the insurance company if something happens. The problem with these insurance companies is you say the car is worth say 30K.
Well let's say the car gets destroyed. Accident, Fire, Stolen, or whatever. When you call them and submit a claim they are going to say how can you prove that car was worth 30K. You go on eBay or Auto Trader you might not find cars with your mileage going for 30K. So the insurance company low balls the hell out of you. With an appraisal it's no haggle done deal and you get paid because their underwriters have signed off on the appraisal. With these cars it's the only way to go. A friend of mine had his GN stolen last year. He is still haggling with the insurance company. While he said the car was worth 20K to them they are trying to pay him 8K for the car. So it's well worth the money to have peace of mind if anything.
Well let's say the car gets destroyed. Accident, Fire, Stolen, or whatever. When you call them and submit a claim they are going to say how can you prove that car was worth 30K. You go on eBay or Auto Trader you might not find cars with your mileage going for 30K. So the insurance company low balls the hell out of you. With an appraisal it's no haggle done deal and you get paid because their underwriters have signed off on the appraisal. With these cars it's the only way to go. A friend of mine had his GN stolen last year. He is still haggling with the insurance company. While he said the car was worth 20K to them they are trying to pay him 8K for the car. So it's well worth the money to have peace of mind if anything.
gatorlance
Well-Known Member
I have a preliminary quote from Grundy on mine and they just asked for what I thought the value of the car is as an agreed value. And apparently the premiums are based on agreed value. So do you only need an appraisal if it's asked for?
Just curious what insurance you guys are using as I'm tired of paying the regular rates when the TTA only comes out occasionally on nice weekends.
Just curious what insurance you guys are using as I'm tired of paying the regular rates when the TTA only comes out occasionally on nice weekends.
It pretty much breaks down to this... Do you want a fight with your insurance company when something happens or do you want to get paid and not deal with all the bullcrap? It's really simple.
I can call my insurance comapny and say my TTA is worth 200K and they will insure it for that and make me pay a premium for that amount. When something happens to the car and it's time to get paid they are going to say prove it was worth 200K and we'll pay you. Well we all know that's impossible. These classic insurance company's look on eBay, KBB, Auto trader, and places like that to figure a value on your car. Even tho you tell them you think it's worth whatever number don't mean you'll get paid that number unless you have proof! And unless TTA's are selling for 50K on more on eBay then you might want to get it appraised by someone!
I paid 150 for my appraisal from Terry Shaw. I got lucky they were having a "car appraisal day special" when he did mine.
If your one of those guys who think "not me" then don't worry about it. If you care about your investments then call Terry.
Terry Shaw
Automotive Legal Services
[email protected]
1-800-487-4947
PO Box 626
Dresher, PA. 19025
He will go anywhere.
These classic car insurance company's are just investment firms. They all sell your policy out to other company's and it winds up a fight no matter how you look at it when something happens.
I use these folks... http://www.americancollectors.com/ and behind that name they are travelers insurance and we all know who they are Gieco! So it really don't matter what classic car insurance you use. Get an appraisal and save your ass if and when you need to use it!
I can call my insurance comapny and say my TTA is worth 200K and they will insure it for that and make me pay a premium for that amount. When something happens to the car and it's time to get paid they are going to say prove it was worth 200K and we'll pay you. Well we all know that's impossible. These classic insurance company's look on eBay, KBB, Auto trader, and places like that to figure a value on your car. Even tho you tell them you think it's worth whatever number don't mean you'll get paid that number unless you have proof! And unless TTA's are selling for 50K on more on eBay then you might want to get it appraised by someone!
I paid 150 for my appraisal from Terry Shaw. I got lucky they were having a "car appraisal day special" when he did mine.
If your one of those guys who think "not me" then don't worry about it. If you care about your investments then call Terry.
Terry Shaw
Automotive Legal Services
[email protected]
1-800-487-4947
PO Box 626
Dresher, PA. 19025
He will go anywhere.
These classic car insurance company's are just investment firms. They all sell your policy out to other company's and it winds up a fight no matter how you look at it when something happens.
I use these folks... http://www.americancollectors.com/ and behind that name they are travelers insurance and we all know who they are Gieco! So it really don't matter what classic car insurance you use. Get an appraisal and save your ass if and when you need to use it!
