appraisal?
05-12-2011, 08:46 PM
#1
TECH Apprentice
Thread Starter
appraisal? anyone here have an appraisal? went to my insurance guy today so he could get pics, he said i should get it appraised my insurance will go down about 25bucks but cost me 85 for appraisal. i guess the advantage is then its insured for the appraised amount instead of kbb
05-13-2011, 08:53 AM
#2
TECH Junkie
I know you just bought a nice crazy low mileage car but Be very careful about appraisals. I've done too many in the past (wasted $$)and seen too many done where the appraiser goes well above what is a rational common sense price. The typical 'shade tree' appraiser doesn't want grief from the owner and therefore jacks up the price so that he gets grins and smiles when the bill is presented along with comments like, "Oh, I didn't know my car was worth that much". 
Many insurance companies will accept the prices when the policy is written, then scoff at these appraisals at 'pay off' time and hire their own appraisers to make their point, and they are right! They won't pay or you will have to go through the legal system. Save your money unless you are talking about a serious collector car worth north of $25,000 and it is insured by the 'collector' insurance companies like Grundy, Hagerty, JC Taylor, etc... Then it is a different story entirely.
** On a side note: $85 for an appraisal is a joke. They run much higher for proper documentation.
Many insurance companies will accept the prices when the policy is written, then scoff at these appraisals at 'pay off' time and hire their own appraisers to make their point, and they are right! They won't pay or you will have to go through the legal system. Save your money unless you are talking about a serious collector car worth north of $25,000 and it is insured by the 'collector' insurance companies like Grundy, Hagerty, JC Taylor, etc... Then it is a different story entirely.** On a side note: $85 for an appraisal is a joke. They run much higher for proper documentation.
