RE: [Chevelle-List] Apprasial and insurance

[Brad Waller]

Title: Message

Be very careful with State Farm.  Make sure you have it in writing what they will and will not do.  A number of years ago I had an accident (some a-hole made a left turn in front of me) in my '66 Corvette.  State Farm had told me previously that they would use the "Actual Cash Value" of my car.  Theoretically, this is better than stated or agreed value as they will pay what the car has appreciated to since your last valuation.  Agreed value means that they will pay you that amount if your car is totaled, and stated value means they will pay *up to* that value.   What happened is that State Farm used their own appraiser who viewed the car *after* the accident (http://ep.com/brad/thumbs.html) and came in a few thousand lower than I expected. The estimate was over $14,000 and the appraisal was just over $20,000.  But, the big problem came when State Farm got the repair estimate and decided that they car must be totaled.  Since this was such an old car, anything over 60% of the value (newer cars are set with an 80% threshold) was an automatic total loss.   The logic for this was lost on me, and it took well over a month and much hassle to actually get State farm to repair the car and not force a salvage title on me.  My agent was zero help, leaving me all alone in the fight.  I am now with Allstate, and I think/hope that they will treat me better.  I have spoken at length with my agent about this, and he says that he will back me up if anything like this happens with him.  Haggerty is a good alternative as well, but do check on mileage and use restrictions.  Some companies do not allow you to take the car to work, and some do not allow it to be parked outside, ever, so no road trips!   Brad Waller '66 Convertible | 327/dead | 4-speed   | Wilwood Brakes | 245/45/16 BFGs '67 Chevelle    | ex-SS396 | 355/700R4 | '79 F-Body Brakes   -----Original Message----- From:  Keith Cooper Subject: [Chevelle-List] Apprasial and insurance I went to my insurance company last week to insure my 1971 Chevelle for it's real value. The car has been completely restored inside and out. My insurance company is State Farm. I have been with State Farm for 15 years. My house is also insured with them. They told me that they could not put a declared value on a 1971 car. I would only get the blue book value for the car. They did take pictures of the car. They did say that I could and recommended that I get a private appraisal on the car. She gave me the name of a man who works for a company which appraises car. The insurance company will honor the appraisal value stated by this company. I called the man and he stated that it cost 125.00 dollar for the appraisal. They record all the numbers from the block,head, transmission,rear end etc. They go completely throughout the inside and out and spend about 1 1/2 hour looking at the car. He stated that three certificate will be issued on the appraisal. What do you think about this process or should I look at another way to insure my car.? Keith   See my Chevelle: http://home.mindspring.com/~keithc/index.html