Why I got my cars appraised

[CalAltaDubber]

Well like the subject said I got the two bunnies appraised. So my question to me was Why?

Well it goes back a few years when I had a Golf that got rear ended. The insurance appraiser came to look at that car and Topless Bunny was sitting in the driveway. Topless Bunny had just gone through a minor restoration and was shiny like a new car.

When the appraiser finished his inspection of the damaged Golf, he turned his attention to the cabby. I was asked if the car had been appraised, to which I answered no.

The appraised explained to me that cars that have some value above "Black Book" (read Kelly Blue Book, etc.) value should be appraised. Sure a good appraiser can probably tell what condition a car was in before an accident, but what if the car is destroyed by fire. There is no way to tell what it was like before the fire. So I got Topless Bunny appraised.

I was happy with the value the appraiser placed on the car and my insurance company has the car listed for that value.

Several years have passed since then and in the meantime, I bought, restored and customized the Posh Bunny. My insurance agent informed me that without an appraisal, the car would only be covered for the purchase price ($1,000). Considering I spent a fair bit of cash on the project, including body work, engine rebuild, and a few other things, the car is worth considerably more.

Since it was a few years ago, I had the appraiser come and inspect both vehicles. The cost is about $200 each. For that I get a report that states the condition of the car including photos.

All I have to do is forward a copy of each report to my insurance agent.

In the end, Topless Bunny has retained its value (mostly because it is precieved that there are still a lot of Cabbys out there), and Posh Bunny was a very pleasant supprise of about twice what I expected because of the high quality work done during the restoration.

I know I will never sell one for the appraised value, but it is nice to have the paperwork and the insurance protection.

[E30blitz]

Good point
With few and fewer clean cabs around values would go
So appraisers it is