Date:         Thu, 5 Mar 2015 09:41:46 -0800
Reply-To:     Jim Arnott <jrasite@EONI.COM>
Sender:       Vanagon Mailing List <vanagon@gerry.vanagon.com>
From:         Jim Arnott <jrasite@EONI.COM>
Subject:      Appraised Value was Roadside service
In-Reply-To:  <062c01d05769$e8c6f540$ba54dfc0$@gmail.com>
Content-Type: text/plain; format=flowed; charset="UTF-8"; reply-type=original

I asked Curt Long to chime in as he has experience with appraised vehicles
being rolled into balls. Pics:
<http://smg.photobucket.com/user/2Ply/library/My%20Mechanical%20Pump%20TDi%20Syncro%20Vanagon?sort=6&page=4>
He sent me the following from a FB discussion that he participated in:

Curt said:

Below is the entire content of what I said on Facebook.  Maybe you can copy
and paste to Vanagon.com what you think covers the subject best??


*****************************************

"In Washington State, you don't need Agreed Value or similar BEFORE the
accident. You just need an appraisal that is valid at the time of the
accident to set the value of your car. Lacking that, they go to the Book or
the book and some of your receipts.. But an appraisal from a recognized
appraiser (which John Kincl is) trumps the book. That's how it worked for me
when my 90 Syncro Westy TDi was totaled and John did the appraisal.. He
stuck by me during the negotiations too.. Insurance wanted to pay me
$17,000. they ended up paying $80,000. However, after totaling my receipts,
that's what I had in it"

Next was:

"It might be the same in Oregon. Most policies are designed that if they
want to total your vehicle, they have to give you the current market value..
If you don't know that your vehicle is better, then you get the book value.
If you disagree with that, you have to show proof that yours is worth more
by looking for a "Comparable" one that has sold withing about a radius of
200 or 250 miles and within the last 90 days. Failing that search, you can
expand the radius until you find one with the same features as yours and
then that one or more of them determine your market value.. If it's higher
than what they estimate it will cost to repair yours, they pay for repairs.
Otherwise, they cash you out.. However, that doesn't mean they have to play
fair, and if you bluff easily, they win.. And believe me, they WILL try..
It's just good business."

Next:

"A good appraiser will do the search and document organization for you..
That's what they do. And their word holds up in Court much better than your
opinion.. That was one of the key reasons that John Kincl was the man too go
to because the Courts AND most of the insurance companies know him and trust
him... And he will not choose sides or jack up your value to please you."

Next:

"Another important note about my case: My 90 Syncro Westy TDi was a VERY
rare vehicle. Finding a "Comparable" was not an easy task. If you have a 2WD
Westy that you think is worth a ton and have all kinds of receipts, but
several well thinking family members across town had to sell poor dead
Grandpa's pristine VW Camper for a song because they didn't know what it was
really worth, THAT can hurt your value big time! It's "Market Value". And
I've heard that there are ways that an Insurance Company can get past your
"Agreed Value" agreement... Beware. You might also be able to get the best
advice about policies from a trusted appraiser, they should know, but don't
expect them to recommend a Company, I believe they shy away from that for
liability reasons."


Then Brian King said:

"If you're paying a premium on a $10000 value van, and then collect $80K,
that seems weird to me? With agreed value, we agree that its worth $40k, I
pay for a $40k vehicle, etc.

If I should just run normal insurance, do a yearly appraisal, and be
covered... Hmmmmm."


I responded with:

"Nothing weird about it. It's the way the standard policies are written. OF
course, there is a risk that if your vehicle is not extremely rare, there
will be a greater chance that others have undersold theirs and have set the
market price... Just like neighbors selling houses near you. They set the
price and the tax base for YOUR house too. But if it's important to
guarantee a set value, then do it if you can find the companies that will do
that, pay the agreed premiums but be sure to check with those that know the
loop-holes so that you can be prepared."

Next:

"I had called my Insurance company several years before the accident and
asked what to do about the value of my Syncro and the book value. They said
to just keep good records and the receipts. And that's what I did with
plenty of videos and photos of the upgrades. This is also an important
resource for the appraiser too."


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