Appraisal??? (1 Viewer)

[chicago]

I called my insurance co. To find out how much my insurance will be on matti...
About 200 bucks q 6 mos for full coverage insurance. She asked about it's value. I figured around 15k if I were to sell it. However, if the rig was in an accident and it were totaled they would blue book it that way. She recommended actually getting an appraisal on it IF something like that were to happen, they would take that value from the appraiser into consideration.

Any one ever done this?
Any recommendations?

 

[chicago]

Wow... No one has anything on this???

 

[primer7]

Keith I have my 69' insured with American Modern Insurance, because of the trucks age it's book value was not consistent with it's current street value. My other rig is insured with Metropolitan.

 

[45Kevin]

My truck is insured under a vintage vehicle program. They require an apppraisal ($100-$150) every so often to get it's market/replacement value.

For the cost of the insurance it is worth it.

Congrats on getting matti to move under her own power.

 

[rusty_tlc]

I did some research on this for TLCA. The idea was to offer insurance to members at a reduced rate. What I found out was you could get classic vehicle insurance which DID NOT cover damage which occurred off road, or you could get OHV insurance which did not cover damage on road. I could never find anyone that covered both.

Appraisal might also be tough since it will probably be geared toward restoration vehicles rather than modified trucks. The best you might be able to do is get a figure based on the sale of comparable vehicles.

Maybe Sam or some of the other local fab shops might be able to put a replacement price on your truck.

 

[chicago]

Thanks guys!
That was what the appraisal was actually for... To counter the blue book value that the insurance would just give you otherwise. She did say that even with an appraisal, it would still be ( as rusty said) what a vehicle like this would sell for in this market.
Not concerned with an accident as much as I would be theft.
At least if I rolled, or got into a collision, I still should have all the parts and stuff. If it got ripped off... I'd be going to prison cuz I would hunt the mother f%cker down and kill em!
Besides.... If I got in a wreck off road... There are winches that can get me back ON road!! Know what I mean!!

 

[rusty_tlc]

The reason my 40 stays in the garage is that I worry more about it getting stolen than rolling it or wrecking it on the road. Like you said I can always pull the parts off and put them on another donor rig.

I carry the minimum insurance required by law on the 40.

 

[WILLD420]

Anti theft is easy when they are always broke down.....

It's when they run that you have a problem..

 

[rusty_tlc]

Anti theft is easy when they are always broke down.....

It's when they run that you have a problem..

Mine just looks like it's abandoned. It's part of my anti theft strategy.

I think I'm going to stick with that story. (it's easier than fixing the rust.)

 

[psreno]

The reason my 40 stays in the garage is that I worry more about it getting stolen than rolling it or wrecking it on the road. Like you said I can always pull the parts off and put them on another donor rig.

I carry the minimum insurance required by law on the 40.

This is also my strategy. Farmers runs me $168/yr for legal coverage and I fix everything myself.

Although, lately I'm thinking about self insuring. A lot cheaper until you have to hire a lawyer...

 

[RAYJON]

Did this on my camaro years back, it was called a stated value policy. What I did was have it appraised by 2 different appraisers and that value was what the insurance was based off of. Take a look at haggerty and there are others.. Look at street rod insurance very simmilar.. They have a max mileage a year and some other rules but nothing too bad (basically they don't want you using as a daily driver).

 

[gregnash]

Maybe talk with OrangeFJ45 (he's in Stockton, CA but might have some insight) about the appraisal as it may not have to be from a NV based shop.

My sister-in-law runs a State Farm agency in Caughlin Ranch, let me see if I can get any information from her.