Auto Insurance Appraisal/valuation

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Cycleguy
Posts: 4
Joined: Mon Dec 18, 2017 9:47 am

Auto Insurance Appraisal/valuation

Post by Cycleguy »

My 1995 collectable muscle car was totaled. The insurance company has valued the car well under ($10-20K) the selling prices for comparable cars both locally and around the country taking into account miles, color and options. Comparable sale prices from the last few months have been presented to the adjuster and he is acting as the middle man with appraisal chief. I feel this is going to be a good cop/bad cop.
What are realistic options if this doesn't go well. Thanks for your help.
jbmitt
Posts: 569
Joined: Mon Jul 14, 2008 1:00 am

Re: Auto Insurance Appraisal/valuation

Post by jbmitt »

Are you working with your insurance or the liability coverage of someone else?

Most first party policies have an appraisal clause where each party hires someone and then they share the cost of an umpire.

Collision Safety Consultants is a firm that I came across that appears to have had favorable outcomes for their clients. I’ve never used them so YMMV.

As a former adjuster, our databases only went back so far and were generally ok for mass produced stuff, but struggled with collectibles and more unique vehicles.

This is also a reason why you may want to insure on an agreed value or with a speciality company like Hagerty.
bob60014
Posts: 1874
Joined: Mon Jul 31, 2017 8:59 pm
Location: The Land Beyond ORD

Re: Auto Insurance Appraisal/valuation

Post by bob60014 »

Is it truly a "1995 collectable muscle car"? Most are only in the eyes if the owner and are not unique. What is it?
Topic Author
Cycleguy
Posts: 4
Joined: Mon Dec 18, 2017 9:47 am

Re: Auto Insurance Appraisal/valuation

Post by Cycleguy »

The car was destroyed by fire. No other party involved. I would rather not give the specifics at this point. (paranoia). I had no idea that Hagerty insurance options existed. I am willing to hire an independent appraiser if that will help.
cleosdad
Posts: 275
Joined: Sat Feb 02, 2008 9:32 am
Location: Littleton Co

Re: Auto Insurance Appraisal/valuation

Post by cleosdad »

Cycleguy wrote: Wed Apr 07, 2021 9:27 pm The car was destroyed by fire. No other party involved. I would rather not give the specifics at this point. (paranoia). I had no idea that Hagerty insurance options existed. I am willing to hire an independent appraiser if that will help.
Hi Cycleguy. I have a 32 Roadster insured by Grundy for agreed value, just so you know.
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