Having our cars appraised! Please read!

[Greg Coleman]

There is one thing I would like to say, I hope everyone reallizes that our cars are all worth more than book value and the insurance companies are ONLY obligated to pay out what the book value is on the car! Even if our cars are in the garage and have never been drivin and say there is only 100 Km's on them, the insurance compannies only have to pay out BOOK value! Now i know this sucks dick but it is the truth!And as you guys can see chit can happen,so I might suggest that we all look at getting our cars appraised at a cost of aprox $150.00.This way we can get what it is worth! Of corse it will cost a little more to insure but if somthing happens then we are covered.Believe me I think all these insurance companies are A$$holes but with all the fraud and so on going on they have resorted to being A$$hole to everyone! They even teach their employees on how to deny a claim to those who deserve it and that is the truth.So if you value your car then have it appraised!

Just my 2 cents worth and somthing to think about! Good day A!

[johnny o]

I've even heard of cases where insurance companies won't take appraisels from certain licensed appraisers! If anyone is going to do this I would suggest calling your insurance company first (I know it's a scary thing) and making sure they will accept it from whoever you have in mind. I am not suggesting using someone they would suggest and although that way if something happened they couldn't argue it someone they would suggest would probably give it a low worth. Go figure...

[BlueThunder90]

If you guys are prepared to pay much more for insurance, than an appraisal might be something you'd look into.

My 1990 SC has a book value of $975. Insurance is based on that amount. Now, if you have your car appraised at 10k, expect a big jump in your premium.

[Greg Coleman]

You guys are absolutly right.But at the same time now if somone runs into you and totals your car and all you get is the book price then dont be ballin and a whinin because thats all you are going to get!!If you go out and pay 10k or 20k for a car say a focus or a mazda wagon then that is what your paying on.
Johnny O makes a good point though,check with your insurance because some of them wont except an appraisel! All I know is all the blood sweat and tears I put into my car,I'm willing to pay the extra after putting 10k or more into my car!! This is somthing each one of us must think about.If you dont think it is worth it then dont.My only point here is after putting all that money into our cars with the nice paint jobs and all the mods and your car is totaled you aint gettin dick!! If that is what you want then so be it! I also know of an insurance comp. that specializes in this sort of thing that when my car is finnised and appraised that is were I'm going and there rates are very reasonable and they understand guys like us and what we do with our cars.So if anyone wants to know who they are just ask me.

[sabbySC]

When I had the 93 I had it appraised, I ran through all the stuff I'd done with the apraiser and at the end he said "how much do you want it to be worth?" . I said put it down for 13g, and he said no problem. I think everyone should look into this as Greg has made it very clear why this is needed.

[Peterdroy66]

1) use an appraisel who your company recognizes

2) When I appraised my 95, nobody at the company would tell me that yes we will recognize the value, however after sending in the appraisel copy a few weeks later I got a letter accepting the value on my policy.

$.02
Pete

[SeanMatteson]

I've gotta get this done first thing in the Spring! ...I said I would do it when I got the car back from the body shop last Spring, and I still haven't. Personally, I don't want to go down the road again of having to convince my insurance company that my car is worth way more than what their stupid books say it is!

Greg, this may involve me changing insurance companies for that car too, so if you could email me the info regarding the other insurer that you mentioned, I would greatly appreciate it.

Cheers,

Sean

[tbirdsc357]

Greg,

if it's not too much trouble can you please send me the info for that insurance company that you are talking about. Thanks.

spathay@rogers.com

[Jason Wild]

It's hard to beleave that a 90SC is worth $975 what the hell is with that the car is worth more as parts vary sad.

[fat_stan]

greg, could you please pass on the information about the other company along to me too.

thanks

[BlueThunder90]

Originally posted by Jason Wild
It's hard to beleave that a 90SC is worth $975 what the hell is with that the car is worth more as parts vary sad.

It's damn sad. Hell, my brakes cost me more than that! LOL

I have the UVIP package here for my car as I'm selling it, and was shocked when I saw the wholesale value

[Jason Wild]

You should see the face on the people at the MTO when your putting the car in your name and they see on the bill you payed $5000 for a car with a top price of $2500 on the UVIP.
It's price less

[Peterdroy66]

Jason
You should have seen the look on the face of anybody who noticed when importing/transferring/registering a 1995 vehicle with four thousand eight hundred miles :-)
Pete ROy

[Jason Wild]

Yes that would get them two.

[JimGravelle]

Greg,

Can you send me that Insurance Company info also?

Thanks,

Jim.