Most important step for a classic car owner
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- Опубліковано 22 сер 2024
- vehicle appraisals are critical to buying selling and insuring your classic car this is a very important step in protecting your investment on wheels all it takes is a run away shopping cart
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Thanks Gary for the information. Have been thinking about classic car insurance because you never know.
Ya it's a definite must do and will give you more peace of mind, they are all investments on wheels and it's risky without something to cover you, thanks for watching 👍
Great Video Gary! Real good information.
Thank you Clay 😊
well said Gary
Thank you Ron , I originally had a longer list of things for this video but after 25 takes I went with this version hahaha 😆
Very good info Gary mine is done and insured ........FYI with the Antique plate and no insurance your car is worth $800 to SGI.
Your absolutely right Mike and I believe the deductible is also 800 with the owner ending up with zero
Deductible would be $700 max, and if you are not at fault SGI would value your car at fair market value, but only $800 if at fault. But always get an appraisal done.
many gearheads also under insure their rides.
Your absolutely right, some do this on purpose to keep the premiums down, the only problem I see with this issue if you insured your 80,000 car for 50 to get the cheaper rates then you may only get 40 when it's time to sell , I personally like to stay with the appraisal number and not short myself but each to their own
@@garythegear A foolish strategy for sure. However, one other mistake that some make is thinking the appraisal is the market/sell price, which it is not. The appraisal is for the insurance company in case of a total write-off of said vehicle. It has no bearing om the sell price. Whereas in the US, appraisal is used as an indicator of the sell price.