Posted by Keith in Washington on Thursday, September 29, 2005 at 1:03PM :
In Reply to: Value of truck??? posted by Terry in Bozrah on Wednesday, September 28, 2005 at 6:13PM :
Get a professional appraiser to set a value. I had one. When the truck was wrecked the amount that I got from the insurance company went from $2,500 to $8,000. It was insured for a stated value of $8,000 but was a daily driver so they did not have to pay the full amount. However, if I had insured it as a classic vehicle they would simply pay the stated value of $8,000. Interesting insurance twist I learned.
The appraiser that did the appraisal also was used by my insurance company. So it was hard for them to dispute his value and they paid. The couple of hundred bucks for the professional appraisal sure paid off. Funny thing is my brother paid for the appraisal when he owned the truck. All I had to do was pull the appraisal out of the packet of information I had and send a copy to the insurance company.