Oldtimer appraisals and current value. The importance of the first and the consequence of the second. That is the point here. It takes a while, but our passion passes old cars and motorcycles. Stuff that, except for a few iconic examples, has been completely written off. We are not just talking about the kilo price, but about the current value of our old-timer.
And now we know someone - he has a good taste when it comes to cars - who buys a new car from the top segment every year, and then proudly says after the first day: "Well, now he is worth ten mille lesser". Ten mille? He laughs at that. And not even hard. His cars are not valued. They are always fully insured. And that is almost never the case with our classics. In the best case they are insured against fire and theft. And that is very important. So there must be an old-timer appraisal.
Current value: writing off hurts
But when it comes to depreciation, we are often the victim of our feelings. And if you have guilt-free damage, you will be confronted with the fact that the current market value of your violated property is a few hundred euros. While bearing in mind our richness, maybe ten mille for it the same morning. Or pinned.
And if you are a victim of someone who drove on after causing the damage - think especially under qualified ex-east bloc or Filipino truckers, whether or not employed by Real Dutch Entrepreneurs, then you really are the hare shorter and clearer expression. And it would have been handy if you had your old-timer valued.
We recently came across such a story, where a neatly parked classic was found with considerable damage. Deep tracks on the roadside indicated that a trailer combination had made an 180 degree turn where there was just not enough space. And where a car stood in the way. The perpetrator had not left a note.
Small change as comfort
Because while insurers sometimes want to offer apologetically smiling a few hundred euros, while retaining airframe, then again, there are large carriers for liability claims employing people who are trained to implement an optimal discouragement policy and refer them structurally to the guarantee fund. And if the guarantee fund then hears who has given the referral? Then the fund rightly says "But if you know who did it, you must hold that party liable."
The value of a classic is 'what the fool gives it'
Because why would the Elvis Cadillac be worth ten times as much as the same car a local notable drove in? Workplace hours at a car repair company, however, count on a normal hourly rate. And with a considerable amount of damage that can also come to the fore.
That is why it is very important to provide your own back cover by having a classic valued
An old-timer appraisal is not a panacea that gives sales value a huge boost. A good old-timer valuation indicates the replacement value, based on the current market situation, and in the short term. And it is the only tool that can be effectively used to prevent it from being kicked off in the event of a damage.
That cancellation may sound silly, but the large insurers simply employ people to keep the benefits as low as possible. And sometimes those men can be blunt. On a personal basis I once addressed one with: "You are here in my house. You insult me. Are we going to talk or do you want to clap? ”He would rather have a cup of coffee. We came out. But he had tried to do what he was paid for.
Day value or day value
A car with an appraisal value of - say - ten mille is not an economic total loss in the event of damage to a rear screen and a bumper. And the compensation payment can also have a financially emotionally attractive side. Because by contributing your own work, the hourly rate is tempered and you have the pleasure of feeling a professional, whether or not under the supervision of the damage repairer. And you learn that you should never sand 'with your hands', but it is a sanding block. Because that way you do not follow existing slopes, but you work 'tight in the plane'. And there are also all kinds of professional tricks in the field of disassembly and assembly. The really difficult work can simply be done in that process, or together with 'the professional'
And if your classic is fresh and fruity again? Then he has become your classic even more.
At our club we have a valuation day every three years (that is how long the valuation is valid) where someone comes to value a whole set of our bikes. It seems that those engines are systematically valued too high. For that money or a little less you can buy something similar to replace it but then it is no longer your motorcycle. And if you add those too high appraisal values together, it would seem lucrative for insurance companies to maintain this. You pay premium over a (too) high amount, which really compensates those few claims. If you add this to all the insured, a substantial extra premium is paid. Last year, a claim from one of our club members received a claim and the insurance suddenly became very difficult because he had not completed the claim form in time with two broken wrists. Then an attempt is made to get out of benefit. Fortunately he has received his money. But is still in the rag basket. And has switched insurance.
Would you rather have received an amount that was too low at Total loss?
Every 10.000 euros higher appraisal may cost you 5 euros more per month.
Small amount for so much money if you ask me.
Perhaps important for the insurance, but if you sell the car you get much less than the appraisal value! I have already experienced 3x! Very unfortunate!
Sell yourself and then start complaining that you have caught too little. ok