Appraisal for insurance

quote:

Originally posted by gen2pantera:
...Any suggestions...

Will your insurance accept an appraisal based on photographs rather than an "in person" appraisal? If so you'll need to contact somebody who has credentials to make that appraisal, and ask if they will do it for you. Expect to pay your appraiser for his time. In my opinion Dave Adler is the most qualified person in the US to appraise a Pantera. I've done a few myself. I don't know if anybody in the PCNC has done appraisals, but it would be worth asking.

quote:

Originally posted by gen2pantera:
... Am I posting in the right place...

Yes.

cowboy from hell

First, check who your insurance company recommends to make sure they'll accept the appraisal, and make sure they're familiar with Panteras.

I had my car appraised at Concorso Italiano a couple years ago by Dan Miller. He's a fellow Pantera owner, POCA member, and an auto appraiser with International Vehicle Appraisal Network.
http://www.i-van.org/

His email is: danielmmiller@aol.com

Come to think of it, it's time to update the appraisal on my P-car.

Can I ask who your insurer is?

The reason I ask is that I have never been asked to get a car physically appraised. At most, insurers ask for a visual inspection to verify there is no pre-existing damage.

Also make sure you get an 'agreed value' policy not a 'stated value'. The agreed sum is paid out on a total loss, not an adjusted depreciated value. In that case the insurer should be able to quote you based upon your requested 'agreed value' and just visually verify the car has no pre-existing damage, although personally I've never been asked for any proof.

Typical classic car insurers are Hagerty, Sneed and American Hobbyist. I'm with American Hobbyist and they were also the only ones that didn't want another full premium on the 2nd Pantera, when I recently requoted. They also automatically increase your agreed value by 2% each quarter.

Julian

Brian if Dan Miller is in Nor Cal he'll be your best bet. I gave my previous post a second thought and I realized how stupid I was being, I personally wouldn't want to provide a formal appraisal based on photographs, too risky. Too many things you can't verify unless you're physically there. I can pretty much guarantee Dave A will tell you the same thing. I don't know what I was thinking. I apologize. When you make a written appraisal you have to be ready to go to court and explain or defend it.

George

Thanks for all of the info. I'll check with the agent and make sure the appraiser know about the reference.

I understand the issue with photos. I'm probably better off having an expert check for maintenance issues, rust, ect.

Regards,
Brian

I'm with Allstate. My dad had American Collector's insurance, but I didn't like the restrictions. I'm not planning to drive it that often, but I don't want the commute restriction. I work with gearheads.

I'll check on the stated vs. agreed value issue. Thanks

Brian

Not to meddle, but I'm guessin this (appraisal reqd by insurance co) ain't a good sign. Go to Haggerty and tell them what the agreed value is. they will ask for a picture and if the stated value is reasonable, you're insured. Only restriction is mileage and they don't even ask what your mileage is. Why risk anything else?

quote:

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Not to meddle, but I'm guessin this (appraisal reqd by insurance co) ain't a good sign.

Au contraire.

It is a good thing, IMHO.

Absolutely needed for an agreed value policy, and that is the ONLY policy any of us should have on our cars.

You will have to defend a stated value policy, and guess who wins in insured vs. insurer battles?

I pay about $400 yearly, State Farm, agreed value of $45K. And this is after the $35k they paid for my off-road-adventure claim.

Larry

Yes, go to Haggerty, they will give you a better deal for a collector car, I have my Pantera insured for xxx/agreed value with no appraisal needed and it is cheaper than any of my other cars (daily drivers insured with AAA)



Shop around, most insurance co. try looking a Pantera up in a book to establish the valve,,,, it does not work

to Haggerty!

Thanks

quote:

Originally posted by LF - TP 2511:

It is a good thing, IMHO.

It probably is but doesn't seem to be necessary with the agreed value policy since both parties agree to value.

Absolutely needed for an agreed value policy, and that is the ONLY policy any of us should have on our cars.

No appraisal is required with Haggerty. They only request a picture, unless you ask for an unreasonable value when you apply. The beauty of this, is that you can insure it for what you have in it. And there are no real driving restrictions except for mileage. This is sometimes a real gotcha.

You will have to defend a stated value policy, and guess who wins in insured vs. insurer battles?

I pay about $400 yearly, State Farm, agreed value of $45K. And this is after the $35k they paid for my off-road-adventure claim.

State Farm doesn't seem to offer an agreed value policy in most other places in the US.

Larry

quote:

State Farm doesn't seem to offer an agreed value policy in most other places in the US.

Certainly don't in Nevada, I was with them for daily drivers when I first got the Pantera and tehy only offered 'stated value' at a pretty hefty premium. I have since changed the daily drivers to AIG at half the premium.

American Hobbyist didn't ask for any photos or verification on my agreed value and no mileage restrictions either. Check the fine print some classic insurers are 5,000 miles max (or up to 7,500 miles at extra premium). I also seem to remember hearing that Hagerty now kinda accept that occasionally you will take your car to work to show off to your gearhead buddies. It would be worth checking with them their stance on that. Please report your findings back here!

quote:

I also seem to remember hearing that Hagerty now kinda accept that occasionally you will take your car to work to show off to your gearhead buddies. It would be worth checking with them their stance on that. Please report your findings back here!

There are no such restrictions in my Hagerty policy here in Texas. (Policies can be different in each state to reflect the local state's insurance regs, so make sure you check for your state.) In fact Hagerty was using that as a real benefit for going with them. There are a lot of collector car policies that have restrictions on when and where you can drive the car, some that even say the car can never be out of your sight. These are ridiculously inappropriate for a driver's car like the Pantera. On the same note, some states like Texas offer special license plates for collector cars over a certain age limit that have similar driving restrictions, ie, only to parades and club events, etc.

Make sure you know what you are getting. Insurance is a contract and it's one of those things in life that you absolutely have to depend on when you need it. If an insurance company finds an out where you have violated the contract, they don't pay. At that point, all your personal assets are at risk if you get sued because of an accident. To me, it's not something I would risk just to save a few dollars.

I'll get off my soapbox now.