My insurance company is wanting an appraisal for my 70 W-30 to justify its stated value. Where do I go to get this done? I googled it and don't see anything close. Not sure I even understand exactly what they want either. I assume that I can't just have anybody give me one. I figure it has to be a business for this? Can someone do this at the nationals?

 

When I did my Cutlass through my regular insurance. I had a friend do it, but he was "approved" by the local county courthouse to do car appraisals. He helped do values for divorce court. He completed the value on the court's form. No questions from the insurance.
I have since switched to Hagerty, and they do their own. When I just bought my 442 it was a phone call and I sent them the link to the CL add. Of course my values would be much lower than yours.

I would ask the insurance company what "credentials" they need and if there is a form the prefer. I would hope someone at Nationals could do it.

 

I ask my insurance guy and he said anybody that knows. I ask one of friends and that satisfied the insurance company. My driver conv. though , not a restored 70 W-30.

Don W

 

my insco had a list of appraisers in the area they liked to use, IIRC they did have some type of license or certification

 

Have you considered looking at "Hemmings" or "Classic Car Market Review"?

They may have a listing for appraisers in your area........

http://www.collectorcarmarket.com/

 

Eric

Do not let them give you a stated amount policy. Make them give you an agreed amount policy.

 

The appraisal I got on my car was a nice bound booklet that included a full set of pictures and detailed all the equipment and options the car has as well as the condition of the body, mechanical, chassis and top before concluding with a summary of the overall condition (the typical show/auction scale of 1, 1-, 2+, 2, 2- and so forth) and a dollar value.

The appraiser is recognized by the insurance company and remember, I'm in British Columbia, where the insurance company is the government. I don't know what he had to do to achieve that standing, nor do I know what would keep me from hanging out a shingle and doing appraisals myself at $200 a pop.

Might be worth looking into.

 

I know there's a difference, I just can't remember what it is ...

 

A stated amount policy is where you tell them how much coverage you want. If something happens and they can prove you over insured the car,they will not pay the stated amount. An agreed amount policy means that you and the insurance provider agreed on a set amount and then there's no problem. It's kinda like somebody buying $500K worth of insurance on a run down $50,000K home and if something happens,they're only going to pay the $50K but the premiums are based on the $500K. I have seen it happen on stated amount policies before because the insurance company will take all you will give them and they full knowing if something happens,they only pay what it was actually worth. With an agreed amount policy,value is established @ the time of issue of the policy and the guess work is over with.

 

Mine is an agreed policy. I never call it the right name.

 

An appraisal came in that was way to high on a classic car I own. He asked basically what I wanted it to be worth and submitted that appraisal package to the insurance company. Any appraisal I have got, usually comes in fairly accurate, but I confirm that amount with the broker in writing also.As Mike said, insurance companies seem to like high values

 

Good for you,don't want to see you get hurt in case of a loss.

 

Thanks much for the info. Seeing as we only have one auto insurer where I live, I never knew that!

 

Agreed is always the best way to go.

I also think many people don't go high enough on value.

When I still had my toys I went higher on stuff.

I don't focus solely on the vehicle itself, but a much bigger picture which takes several other factors into account.

There is often much - much more involved in replacing a "toy" or "hobby" car you truly TRULY enjoy & love vs the typical "appliance" one might use to simply get from A to B every day.

 

For an appraisal of an Olds, I would at least look into the guy who advertises in Journey With Olds (the OCA magazine). I'm not quite sure what his situation is, but he says he has three locations: Florida; St. Charles, IL; and South Haven, MI. The latter two would be a short drive for you.

Ask your insurance company first for what qualifications they want to see in an appraiser. There are certifying organizations.

 

Are you being required to get an appraisal from a reputable classic car insurance company? The only time I've even been asked to get an appraisal was from my regular car insurance company and their rate was sky high. Hagerty just required pictures for an agreed value policy. My only complaint with them was they wanted to over insure it.

 

This is from State Farm. They were $250 less per year than Hagerty with the exact same coverage. There is a difference but nothing that will affect me. Hagerty did not matter how many miles I drive it and State Farm is less than 2500 miles. I will never see over 500 miles per year so that will not matter. They contacted me and said they don't need one now. They said the person requesting the appraisal did not understand the difference between the 442 and a W-30 442. They did ask for a document to prove it was a 442 W-30. I have it insured for the high side of its value, I think that is why they wanted extra info.