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Re: UrQ Accident Update
Daniel Hussey wrote:
> Also, most insurnace values are based on Kelly
> Blue Book values, which are based on average prices paid for such a vintage
Not always. And especially not from the KBB website!
Here in PA we are required by state law to use NADA and Redbook (a book
which, if it weren't for the state law, nobody would use here). We then
have to average the two books together to obtain a value.
Another option that is legal is surveys of dealer ads, sales, auctions,
etc. This is where CCC info services comes in. They survey not only
area auction reports but newspaper ads in whatever region you happen to
be in, as a Quattro in Maine is worth more than the comparable car in
Texas. CCC's info is very good, IF (and a big IF) the person filling out
the form provides a good description of the car. CCC's form allows for
condition ratings of the body, paint, drivetrain, interior, etc. along
with mileage and options. The ratings are new, very good, average, fair
and poor. It is up to the appraiser to decide where your car falls in
these categories. The criteria for these ratings is rather vague, so two
appraisers can rate the same car differently.
Luckily, in the case of the Ur-Q in question, CCC's valuation seemed
correct, muddied only by an error elsewhere calling it a 4000. Beats me
what this Integon bimbo's problem was that she didn't figure this out
the first time. Probably couldn't believe a car of that age could be
worth that much, as her Hyundai has already depreciated beyond that.
Integon, so far as I know, doesn't have staff appraisers. They hire
independents to do the work for them. I did some work for Integon at my
"Life is too short to drive boring cars."
Dwight Varnes, insurance appraiser and car nut
1970 124 Spider (restored, mostly)
1986 Audi Coupe GT (bigger engine at machine shop)
1989 VW Jetta GLI 16v (the wife's ride, needs restored)
1984 Nissan 4x4 Pickup (rust never sleeps)
1965 Buick Skylark conv. (more fun than you'd think)