Can anyone in Portland OR suggest a place to go to get a classic truck
appraised? My agent suggested a chevy dealership but they were clueless.
- Cliff
'49 3600
-----Original Message-----
From: ldfinley@juno.com [mailto:ldfinley@juno.com]
Sent: Thursday, October 21, 1999 7:26 AM
To: safesix@worldnet.att.net
Cc: oletrucks@autox.team.net
Subject: Re: [oletrucks] Insurance (boring)
Hi Jack,
I am an agent for Allstate. You might want to try us. I have many
customers (including myself) who drive older, antique, and classic
vehicles, and we actually have three different ways to cover them.
They can be rated as regular vehicles, where settlement is based on an
Actual Cash Value Basis. Or they can be rated as antique cars, if they
are not used to drive too and from work, and used for shows, parades, and
other public interest functions. (I insured a '29 Model A using this
method)
Or they can be insured as classic cars, where settlement is based on a
stated value method. This is what most people do who own vehicles that
are appreciating in value. They are rated by us as new cars that are
worth "x" number of dollars. Some of the vehicles that I have insured
over the years using this method are a few '66 mustangs, '68 GTO, '46
F**D Coupe ($18,000 value), '49 Chevy AD Van ($29,000 value), etc....
The '49 Chevy Van was memorable because it had been totally rodded with a
z-71 corvette engine, and had won ribbons at the Darrel Starbird's Rod
and Custom Show.
We depend on the customer telling us how much they want to insure it for,
but of course you may need to back up that stated value with receipts, or
appraisals at claim time, if the adjuster questions the value. A $50,000
1951Chevy 5 window would definately need some documentation versus say a
$5,000 one. But the good news is that you can easily change the
insurable value of the vehicle as you put additional $ into the vehicle.
Everybody should keep a file of their receipts of the $ they spend on
their vehicles, and before and after photos are great. Also, I have seen
classic car books that are similar to the NADA books, and these are
helpful in determining the value of your vehicle.
One thing is for sure, the older these vehicle become, the more valuable
they are.
Hope this helps.
Larry
'51 Chevy AD, 5 window
OKC, Ok
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