Insurance is the most common reason for needing vehicle appraisals, especially for collectors and custom autos. Antique Car Insurance, Classic Car Insurance, and Used Car Insurance are all things we can appraise for. Engine, drivetrain, suspension, exhaust, interior, body, paint, and other upgrades can add significant value to your vehicle. Any car, truck, or motorcycle with many improvements, upgrades, or custom work will be worth more than a similar vehicle without these upgrades. Standard vehicle appraisal calculators or listings do not take this into account.

Getting an appraisal report completed is critical in getting your vehicle insured for its replacement cost value. For example, if a “Number One” 65 Ford Mustang has a published value of $67K, but it has $95K invested in it, the insurance policy should reflect that. As long as all the work is fully documented and supported by quality photographs and a detailed professional appraisal report, your insurer will have no issues covering it for the amount invested. The appraisal also helps your insurer establish rates that reflect the true value of the vehicle you are insuring before any claims arise. That is the main purpose of having insurance in the first place. You cannot blame your insurance company for undervaluing your vehicle if they are not aware of exactly what you have!

We have never been involved in an insurance claim where the adjuster looked at one of our appraisals and said, “This is way too much information.” Unfortunately, we have had too many owners that call us after they have filed a claim, without having a professional appraisal. In these cases, they were told by their insurance company that “Without any prior-to-loss proof, we have no idea what your vehicle was worth”.  

The cost of not getting a professional appraisal ended up costing these people thousands of dollars and a lot of unnecessary stress and aggravation. Do not risk putting yourself in this situation. Get a professional appraisal for your vehicle from Southex Appraisal Service.