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appraised vlaue/ stated value insurance



Not really. I actually pay less now than I did when it was book value.

But what's worse, paying a few dollars more a year, or losing a few
thousand?

Josh Able

----- Original Message -----
From: "rocco16v" <rocco16v@netzero.net>
To: "Josh Able" <mkii@nycap.rr.com>; <scirocco-l@scirocco.org>
Cc: <wasser-werks@yahoogroups.com>
Sent: Saturday, January 05, 2002 2:42 PM
Subject: Re: appraised vlaue/ stated value insurance


> 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
> > http://neubayern.net/mailman/listinfo/scirocco-l
> >
>
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