Vehicle Appraisal - Why Get One?  

There are several reasons to get a car or vehicle appraisal and I will discuss a few of the most important ones.

The true definition of an ‘appraisal’ is “current market value, as is – where is”. This gives you a current worth for a vehicle. This can be very important if you are considering buying or selling a car.

The collector car market has changed drastically over the last few years, and is changing right now. One of the best reasons for an appraisal is to have a ‘stated value’ auto insurance policy. This gives your insurance company an idea of how much coverage your vehicle needs, and it gives you a “life-insurance” policy in the case of a total loss.

Any exceptional or special vehicle over 10 years old probably should have a stated value insurance policy. In case of a loss, the current appraisal guides will reflect a used car that has fully depreciated and not worth very much.

Now in Arizona, any vehicle 15 years or older that has a “collector car insurance policy” is exempt from emissions testing. Almost always insurance companies will require an appraisal for this type of policy. Most insurance companies usually require a current appraisal every few years. Check with your agent on their requirements.