appraised vlaue/ stated value insurance

[rocco16v@netzero.net (rocco16v)]

Don't forget, guys, a higher appraisal equates to a higher premium.

We don't want any nasty surprises...:)

Larry   sandiego16V

----- Original Message -----
From: Josh Able <mkii@nycap.rr.com>
To: <scirocco-l@scirocco.org>
Cc: <wasser-werks@yahoogroups.com>
Sent: Saturday, January 05, 2002 11:04 AM
Subject: appraised vlaue/ stated value insurance


> >due to people getting hosed by insurance companies, I sending this out to
> hopefully aid people before they get screwed.
>
>
> I feel like a freak for always talking about getting cars appraised, but
if
> you have put money into your car, and it is worth more than book you
really
> should do it, to help cover your investment in case of an accident. Don't
> count on having receipts piled 2 feet high to get you more money. Some
> insurance companies will treat you right, others will bend you over and
make
> you scream like a pig at a slaughter.
>
> Be careful, many "appraisers" only understand US Muscle cars, and anything
> like a VW with "custom/aftermarket" parts confuses them. Make sure they
> understand about your car, many appraisers feel a need to take money OFF
for
> aftermarket parts like "custom wheels/ and bodykits/ suspensions / etc".
> Call up your local tuning shop and ask them if they could recommend
anybody.
> Also talk to your insurance agent (if you have a local one) and see if
they
> can help. And make sure its a real appraiser, some people don't have the
> credentials to back it up. If you know of anybody that has sold a car like
> yours for more money than book, get some paper work on that to show the
> appraiser, and of course have all your receipts.
>
> You would want to get your insurance company to hopefully insure your car
> for stated value
>
> A good way for you to guess the value of your car is to..
>
> 1- money you have put into it for "stock" parts and or body restoration
> doesn't really count unless your car is super clean and in "perfect"
> mechanical shape, then it would be worth more than book.
>
> 2- money that goes into the car for mods (anything from a short shifter to
> new cams, to custom bodywork, audio, wheels, etc) can be basically divided
> in half.
>
> example: say your cars "book" is 2000$, but you have done a full
restoration
> on it, and you also have spent $5000 on mods.
>
> book- 2000$
> due to restoration and new "stock" parts bump it up to 4000$
> mods cost 5000$, but cut that in 1/2, 2500$
>
> car will appraise at about 6500$
>
> there isn't a fool proof way to do it, because there are so many
variables.
>
> For instance I know of stock sciroccos that appraise for $8000 - $9000 and
> that's just stock, and I know a custom Scirocco that is basically stock
> mechanically but has major body mods and it is insured for an appraisal of
> about $18,000.
>
> In my case I was appraised starting at book, and then basically all my
mods
> were added to the book value and the total was cut in about 1/2.
>
>
> Josh Able
>
>
>
> _______________________________________________
> Scirocco-l mailing list
> Scirocco-l@scirocco.org
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>

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