Paul 75 L82

I need to raise the value of my 75 with my Insurance company. They said that I need to have it appraised. Has anyone done this and where did you take it to a Chevy dealership or where ever?


[Modified by Paul 75 L82, 2:45 PM 1/2/2002]

Eric 96

Look in your Yellow pages for an independant Auto Appraiser

MotorHead

You need an Auto Appraiser, just remember the higher it's appraised the more you have to pay premiums. :D

Alwyn678

That is what I did.....16k agreed value with the State Farm agent...you really need to have an "AGREED VALUE"

Paul 75 L82

Alwyn678, I agree with that. I have State Farm (for 24 years) and they said for me to get it appraised. I'll look someone up in the yellow pages.

68shark

You may want to check with your agent as the insurer may have certain appraisal firms that they will deem acceptable and others that they won't. Worth a phone call. Definitely go the agreed value route. Phoenix had a long series of posts on here about his troubles with his insurer which came about because he didn't have agreed value coverage.

Bad enough to have a total loss on your Vette, but a lot worse if you don't get fair value compensation for it.

63Banshee

Same deal with Allstate... 18K at the time (no insurance till it's back on the road). Another thing, keep your reciepts and take pictures. You will have to prove the precondition of the car if you want any of the "agreed value" when you need it.

1Bad69

if you are near New Port Richey, call Davies Corvette...

phoenix

68 shark is correct. I got screwed because I didn't have an agreed value policy. My agent told me that I didn't need one as long as I had an appraisal and kept the receipts. :bs :bs In the end,( after 2 months of fighting with them) I ended up getting an OK deal. I would have liked more.

When it was all said and done, I called a different agent and asked what the premium would have been for an actual cash value or agreed value policy. THE DIFFERENCE WAS $20 PER MONTH The car appraised at $17K (elevated a little by my friendly neighborhood appraiser and CF member :D:D ) I was paying $680 per year and the initial offer they made was $7000. :cuss For an extra $120 per year I could have had all of the $17K. :mad

On my new 73, I had it appraised at $15,000 even though I bought it at $12,000 and am paying $700/ year with full coverage (different company too) They told me to send them copies of receipts on anything that I do, whenever I do it. Then once a year or if I do any major work (paint, engine, transmission) get it reappraised.

After going through this once, I will never under insure a car again. The small rise in premium is a small price to pay if the car gets totalled.:cheers: See what the difference is in the premium with a change of appraised value of $1000.

If you want to know who did my appraisal, email me and I'll see what he can do for you.

FWIW- Massachusetts is HORRIBLE for car insurance, our rates are one of the highest in the country.

Lee80

See if State Farm will do the appraisal. I have an agreed value policy. The appraisal was done by the insurer at one of their drive-in claim stations (American Family), so it didn't cost anything. They took about 7-8 pictures - each side, interior, undercarriage front/back, for their records. After that, they looked in several price/value guides and came up with a figure. We discussed it and agreed on the value. Of course you'll have to have some idea of your car's worth before you go - keep an eye on the auction reports in the Vette magazines, or get a value on line.
If the insurer doesn't offer this as a service, you'll have to go with a private company as others suggested.
Hope this helps.

Lee

Juliet

I had both of mine appraised by Tony Avedesian at Tony's Corvette Shop.
http://www.tonyscorvetteshop.com/

Paul L

Most insurance firms can suggest a "reputable" appraiser on their acceptable list. Those who work out of local garages should be avoided.

shoptek

You mught want to check with Steve at Corvette Experience in Ft. Lauderdale.
I believe he is a certified aappraiser.

Dwayne 76

Hiya. I actually had mine done by an independent. He's up here in Canada, that dosn't help you much, but if you contact him he might be able to hook you up with someone in your area as he did all his appraisal training in the States.

To see the apprasail done on my car just follow this link. there is a link on the fron page that will tell you how to get to it, my homepage is not clutterd, so it shouldn't be hard to find.


http://www3.sympatico.ca/cdhillier :cheers:

Chris Fowler

I was told by my insurance company that I was going to have to get mine appraised.

They haven't requested it yet, but I think I'm going to do it at some point anyway to make sure the coverage is right.

Warp70

Some good information being passed around here. I have State Farm and they too wanted an appraisal if they were going to insure my vehicle for more than what their books showed the value to be. I took the car to Raiders Relics here in orlando, the gentlemen took about 2 min to look at the car, asked me if the A/C worked, took my $35 bucks and handed me an appraisal for $10,000 dollars.....For a 1970 Bumper car that was in excellent shape......it was on the low side. I went back to the insurance company told them my delima and as some of the other forum members stated, I paid extra for an agreed upon value. as of 3 years ago it was 15K, but I will be changing my policy soon due to appreciation and all of the $$$$$ I have spent in replacing parts and restoring it to premo condition. To make a long story short, someone rear ended me in May, and due to the $8,000 damage, if I had not paid for the extra coverage, they would have tried to total the car.............take your time on this and get it done right. Good Luck :)

73 LS-4

My State Farm rep appraised mine told me what he thought it was worth, he said about 8k more then I paid for it:lol:, I went with an agreed value of 15k.

:cheers:

Pat Kunz

Magnum '82

Boy, am I glad I don't deal with State Farm after reading the other replies. I had mine appraised at my local Chevy dealer(a little high at my request). My insurance agent took his own picture of my car and that was enough. I use a Wisconsin insurance company. I think the guy that got screwed over should've got an attorney-by acceping your premium based on the appraisal, that shows the company "approved" it. I think he could've gotten his appraised value. I guess the best thing is to ASK your agent how it will be handled if a claim comes up.

Paul L

I would urge all Forum Members to be alert to this issue. For a number of years my 1979 was appraised and insured with a company at an agreed on value of $16,000CDN. I was with that company for about 10 years. Three years ago my insurance broker decided to go with another company to reduce my insurance costs. Nice gesture although I was not informed beforehand. That did not please me but the new rate was 1/3 of the former so what the heck. In a reflective mood after a nice bottle of French Chardonnay one evening with the Wife I suddenly realized that nothing in life is free...Whoops! I called the broker the next day and lo and behold the 1979 was insured for $3,500CDN. The accounting "book" value for an old Chevrolet. Less than my paint job, much less the whole car! That was corrected very quickly. With a jump in rates of course. I have not taken to drinking Chardonnay regularly but I do watch my insurance policies very carefully.