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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