Date: Sat, 13 Sep 2003 20:37:52 -0700
Reply-To: Mike Miller <mwmiller@CWNET.COM>
Sender: Vanagon Mailing List <vanagon@gerry.vanagon.com>
From: Mike Miller <mwmiller@CWNET.COM>
Subject: Re: Totaled camper van
In-Reply-To: <20030914012129.67723.qmail@mail.com>
Content-type: text/plain; charset="US-ASCII"
Thanks, my insurance adjustor seems more than willing to look at other comp
and I hope this means willing to do an adjustment to value.
Mike
On 9/13/03 6:21 PM, "Grant Braddish" <braddish@MAIL.COM> wrote:
> 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.
>
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