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Bill-E-BoB
Samba Member
Joined: September 07, 2004
Posts: 642
Location: Woodstock, GA
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 Posted: Wed Feb 23, 2005 5:41 pm Post subject: Appraisal tips please |
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Ok guys, my insurance company needs an appraisal before they'll insure full coverage on my bus, and I don't want to get screwed on it so I was hoping someone with some experience could help me know what to look out for. I bought the bus for 500 bucks from the estate of the OG owner, but if the appraiser says its only worth that, I'll kick him in the head because she's got OG paint, OG interior, OG engine, minimal rust (for the east coast of course), heck...even the OG owners manual & window sticker with options specs & price tag. How do I keep this guy from saying "well, its just an old VW van...it hasn't even been restored." & givin' me a crappy value?
This isn't a "whats it worth" thread, I promise...but I know this guy's gunna hit the low end of the scale if I don't watch it... |
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vwjosh6070
Driveway Camper
Joined: August 24, 2003
Posts: 2802
Location: not camping...
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| Posted: Wed Feb 23, 2005 5:46 pm Post subject: |
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lie
_________________
josh, AKA "the infamous josh"
1973 Transporter "Floyd"
****Wheres my old bus?! 1967 Montgomery Ward Camper****
KI4MXO |
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tmcpeek
Samba Member
Joined: September 30, 2003
Posts: 120
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| Posted: Wed Feb 23, 2005 6:22 pm Post subject: |
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| nadaguides.com and printouts of comparable buses for sale. SHould be pretty easy. Doesn't really matter, if you want it insured for a specific value just pay the money and they should do it. |
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boxonwheel
Samba Bellybutton
Joined: August 05, 2004
Posts: 1609
Location: LA-ish area, CA
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| Posted: Wed Feb 23, 2005 7:02 pm Post subject: |
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Howdy B-e-B,
I have just gotten my 3 busses appraised and all insured through State Farm. Before you spend the money make sure the insurance company will take the appraisal. State Farm required that I use a "State Farm" approved appraiser. EXample: I purchased a 60 DC for $4800, I printed EVERY DC article from the classifieds (restored $ unrestored), I walked him through the truck and spent like an hour schooling the appraiser on the truck (ie.. 60=early truck, early gates, smaller taillights and turnsignals, hoops and canvas, running 1776 motor etc...). Also let him know about "THESAMBA", craigs list, recycler, ebay, which some he knew of. He then went and compared all the work I had done to comaparable DC's and I got an appraisal of 9K. It is not "restored" but not all "ratted" out either. POINT= Do some of the work before hand and you end up kind of "coaching" the appraiser into the price range you are looking for. Good luck!
_________________
"It is EASIER to customize a car then it is to RESTORE one"
RIP HBB 10/10/84 - 12/25/09 |
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Ragman
The Sambinator
Joined: July 18, 2003
Posts: 3518
Location: Denver
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| Posted: Wed Feb 23, 2005 8:18 pm Post subject: |
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| Give him the oldbug.com web page. That's bound to increase your value a couple thousand. |
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NAES
Samba Member
Joined: September 10, 2003
Posts: 2177
Location: AREA-52 Southern Killafornia
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| Posted: Wed Feb 23, 2005 9:20 pm Post subject: |
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if she's not going to be your daily driver you can insure your bus for whatever amount you want providing your have a latemodel that's your driver.
I have my bus insured for 10k and don't pay shizzle for full coverage. No mileage restrictions. Look around, the companies you seek are out there. Google classic car insurance or similar. Hagerty only insures restored cars and laughed when they saw mine but whatever.
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Barndoor Mafia
Box On Wheels
SBS #00 |
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Bill-E-BoB
Samba Member
Joined: September 07, 2004
Posts: 642
Location: Woodstock, GA
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| Posted: Wed Feb 23, 2005 10:44 pm Post subject: |
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Whatchu talkin' bout Willis? |
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Bongo
Samba Member
Joined: December 03, 2004
Posts: 872
Location: Egå, Denmark
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| Posted: Wed Feb 23, 2005 11:40 pm Post subject: |
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Show him the ad for the 62K van!
Seriously, print out a series of ads for vehicls in similar condition to yours.
_________________
1964 Standard
1962 Single Cab
2002 Golf St.Car |
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Kaput
Samba Member
Joined: December 12, 2002
Posts: 859
Location: Lakewood, CO
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| Posted: Thu Feb 24, 2005 3:08 am Post subject: |
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| Maybe find a bus in similar shape for sale on the samba. I was at a meeting when Hot Dog Fred's bus was stolen and he was complaining about the worth of his bus to the ins. company, value way more than purchace price. If you think it is worth more than 500 bucks get it apraised by the insurer or get a classic car insurer to apraise it and go from there. I think standard insurers will stiff you otherwise. On the other hand I am happy with my 10 buck a month liability from AAA with my 400 dollar purchasce price bus. Enjoy yout 500 dollar bus! Drive it carfully and yer really only out 500 anyway if stolen or crash. |
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Bill-E-BoB
Samba Member
Joined: September 07, 2004
Posts: 642
Location: Woodstock, GA
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| Posted: Thu Feb 24, 2005 12:45 pm Post subject: |
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| I've got liability only for 12 bucks a month right now on it...Its cool bein' cheap, but from what I've heard about classic insurance it won't be a whole lot more than that for full coverage once I get the appraisal done. Thanks for the tips everyone, I'll scour the classifieds before I schedule an appointment with the appraiser. |
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Ragman
The Sambinator
Joined: July 18, 2003
Posts: 3518
Location: Denver
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| Posted: Thu Feb 24, 2005 1:43 pm Post subject: |
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| None of my cars covered by Classic Car issurance required an appraisal. I sent them documentation on my bus, and my requested coverage amount, and that's all.....Fully Covered! |
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Bill-E-BoB
Samba Member
Joined: September 07, 2004
Posts: 642
Location: Woodstock, GA
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| Posted: Thu Feb 24, 2005 4:56 pm Post subject: |
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| Ragman wrote: |
| None of my cars covered by Classic Car issurance required an appraisal. I sent them documentation on my bus, and my requested coverage amount, and that's all.....Fully Covered! |
Hmm...that sounds good. Looking at comparible ads, I think if I were to sell it 7K would be a steal, 10K I'd make out like a bandit, and anywhere in between would be pretty fair...so if I can just tell an adjuster that its worth 10 & have that be the end of it, that'd be cool. Who do you have your insurance through? I was trying to get it with Nationwide because my truck & my homeowners are on a policy with them, so adding the bus to that gives me more discounts. |
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vwtony2
Samba Member
Joined: May 12, 2004
Posts: 1004
Location: south of 19 degrees north and east of 65 degrees west.....
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| Posted: Thu Feb 24, 2005 8:42 pm Post subject: |
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the majority of classic car insurance companys will only insure you if you keep your classic car in a "locked garage", when I went to my insurance company and wanted full coverage on my bus for agreed value of 10k they wanted $1400 per year for that because I keep my bus in a carport not a garage... needless to say I have liability only right now but still searching for full coverage that is reasonable..
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Ambassador of Logistics Wide 5 Vintage Volkswagen Club International |
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ronnie
Samba Member
Joined: May 01, 2002
Posts: 1053
Location: lost somewhere between the earth and my home.
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| Posted: Thu Feb 24, 2005 9:41 pm Post subject: |
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| NAES wrote: |
| Hagerty only insures restored cars and laughed when they saw mine but whatever. |
intresting, both my 57's are insured through haggerty.
it did take some talking to get the panel covered, but it's pretty ugly. they agreed to 5k on it. funny thing is when i tried to insure the 23 before i rubbed it out they said 20k was too high, when i came back ($30 of rubbing compound later) with photos of it rubbed out they agreed to 25k. |
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Ragman
The Sambinator
Joined: July 18, 2003
Posts: 3518
Location: Denver
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| Posted: Thu Feb 24, 2005 10:15 pm Post subject: |
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| Bill-E-BoB wrote: |
| Ragman wrote: |
| None of my cars covered by Classic Car issurance required an appraisal. I sent them documentation on my bus, and my requested coverage amount, and that's all.....Fully Covered! |
Hmm...that sounds good. Looking at comparible ads, I think if I were to sell it 7K would be a steal, 10K I'd make out like a bandit, and anywhere in between would be pretty fair...so if I can just tell an adjuster that its worth 10 & have that be the end of it, that'd be cool. Who do you have your insurance through? I was trying to get it with Nationwide because my truck & my homeowners are on a policy with them, so adding the bus to that gives me more discounts. |
I have Hagerty for my bug, and Anpac for my Westy. Hagerty wouldn't insure my bus cause I told them I might camp in it from time to time. And they are right, it needs to be in a garage. |
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