Insurance Value

["Kim Boydell" <boydell@domain.elided>]

Regarding no certified/registered automobile appraiser in Canada.

The best way to get an appraisal that the insurance company will accept is
to have them recommend a couple of appraisors.  This is what I did with
Cooperators Insurance in Canada.  The apparisor made a written report
including photographs to support his desciptions, eg, the interior to show
no damage on the seats, carpet, dash, the canvas roof with a clear back
window, the body to show no dents/rust etc.  I then gave the report to the
insurance company and recorded the value in my file.  I had to sign an
endorsement, which, of course, raised my rates (this is why people hate
insurance companies) but now it is impossible for the insurance company to
argue that my car is only worth book value.  No judge would allow an
insurance company to accept an appraisal as the basis for raising rates and
then not
payout the amount of the appraisal if there is a claim.

Regards

Kim

P.S. There is definatly a scam that insurance companies play.  Buy a car
worth $11,000 in 1990 and the insurance rate is set.  Have the car appraised
at $10,000 in 1999 and the insurance rate goes up.  Only insurance companies
could charge more for less, and those SOBs in government won't allow
competition by having the Banks to sell auto insurance.  Go figure.

79 spider, book value $4,000 Canadian, appraised and insured value $11,500
including GST

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