Date: Sat, 13 Sep 2003 20:21:29 -0500
Reply-To: Grant Braddish <braddish@MAIL.COM>
Sender: Vanagon Mailing List <vanagon@gerry.vanagon.com>
From: Grant Braddish <braddish@MAIL.COM>
Subject: Re: Totaled camper van
Content-Type: text/plain; charset="iso-8859-1"
Unlike gemstones, persian rugs, and other 'stated value' insurables, a vehicle's value changes rather quickly. Therefore an appraisal that is more than 6-12 months old would not likely be of much value in resolving the 'market value' of the van. Further, 'stated value' policies are very expense and not likely worth the added premium on a vehicle that would have a value in the $5-10k range. An exception might be a cherry synchro that has a value closer to $20k, but even then the added premium would be tough to justify.
I don't agree with Brodbeck that vehicles over 10 years should not be covered with a collision policy. My '89 Westy has a value near or greater to my '98 Subaru. I think that the market value and your risk tolerance are the best guide to determine if you should buy collision coverage. Again, as an adjuster I would recommend rental coverage. It gives you some breathing room if/when you are in an accident and the minimal premium amount is worth it if you are in an accident.
It's encouraging to hear a few stories about folks who educated their insurer about the market value of their Westy and were rewarded with a fair settlement.
Good luck, Mike.
----- Original Message -----
From: Jeff Oxroad <Oxroad@AOL.COM>
Date: Sat, 13 Sep 2003 01:44:22 EDT
To: vanagon@GERRY.VANAGON.COM
Subject: Re: Totaled camper van
> In a message dated 9/12/2003 2:43:41 PM EST, braddish@MAIL.COM writes:
>
> << First off, I am an insurance adjuster. While I don't deal with total loss
> vehicles, I can say that there is not a specific conspiracy to screw Westy
> owners by the insurance industry.
> >>
>
> Yes, as I recall the the conspiracy is a bit broader ;)
>
> Here's my question: To avoid a headache in the unlikely event that a Westy is
> totaled, does it make sense to have the vehicle appraised and then in turn
> furnish that info. to your insurer. Then paying your insurance premium based on
> the value of the vehicle. Or if you don't want collision insurance, at least
> you'd have the value of your specific vehicle on paper should the other driver
> be at fault and his company has to pay off the value of your Westy--or however
> that type of thing works.
>
> Having said that I have no idea as to what an appraisal would cost and/or
> what the qualifications for an appraiser are. And if the appraisal would have to
> be updated every year--which I guess it would.
>
> What if friendly VW repair or parts vendors offered an affordable drive-in
> service for an appraisal? I mean these guys know the value of a Westy...
>
> Maybe the whole thing is a dumb idea. But don't thank me, I have more dumb
> ideas than I know what to do with.
>
> Jeff
> 83.5 Westy
> Book Value: $3500*, Actual Value: Priceless
> LA, CA
>
> * not actual book value, my browser is acting up.
--
__________________________________________________________
Sign-up for your own personalized E-mail at Mail.com
http://www.mail.com/?sr=signup
CareerBuilder.com has over 400,000 jobs. Be smarter about your job search
http://corp.mail.com/careers
| 
