Appraiser?

[richard5933]

Apparently we have 'actual cash value' coverage.

Any recommendations on finding an appraiser to help establish ACV?

Richard

1964 PD4106-2412

[B_K]

http://busesonline.com/author/busesonline-2/

https://www.facebook.com/pages/Michaud-Bus-Sales-Inc/1428049337420393?rf=617434948308736

The Michaud's have been around the bus business for many years and and do have an appraisal service. They can appraise stock, custom, and converted buses and are well respected in the industry.
B_K

PS so sorry to hear of your accident and need of an appraiser! I highly recommend the above!

[luvrbus]

ACV coverage what a bummer,there should be a antique car appraiser in the area that will give you a fair shake I find them fair. I use one from San Diego he is hands on only he won't do it with photos so travel expenses would kill you.Spike Michaud will probably be your best bet if you don't find a local       

[niles500]

Did you ever ascertain whether the deceased had coverage?

[richard5933]

Did you ever ascertain whether the deceased had coverage?

Not yet.

I'm new at this... Can someone explain why all the negative feelings about ACV?

How is this differ from the other varieties of cover?

Richard

1964 PD4106-2412

[akroyaleagle]

Clifford,

Wouldn't the expense of the estimate be part of the claim?

I would probably first try negotiation with the Insurer. If that failed, I would explain to them the difficulty of getting it appraised and that I would be expecting reimbursement.

[eagle19952]

Not yet.

I'm new at this... Can someone explain why all the negative feelings about ACV?

How is this differ from the other varieties of cover?

Richard

1964 PD4106-2412

ACV is what the adjuster decides and then you bicker.
Declared Value is what you and your broker agree to prior to...
but, they adjust declared to depreciate over time.
so if you have declared value, you get what it was appraised at then (as in day one).
some call it agreed value
further..if (let's say) you paint it and add persian rugs and gold plated fixtures in year 2 and 3...u get an upcharge on the new declared value.
they pay that amount.
i have declared value.

[eagle19952]

Clifford,

Wouldn't the expense of the estimate be part of the claim?

I would probably first try negotiation with the Insurer. If that failed, I would explain to them the difficulty of getting it appraised and that I would be expecting reimbursement.

i did wreck estimates on HD motorcycles. they paid me $60-$70.00 per. often they would get two shops. not sure they would pay for lunch/expenses. now if it was a Lear jet...

[PP]

When we first bought our bus I had declared value based on the purchase price. Since then with rising premiums I have had it changed over to ACV. Now I just carry full coverage for old times sake and to cover anyone that I might cause damage to, heaven forbid. Since we fulltime, the contents coverage is more important to me than the actual bus. I know if something happens to it I might as well right it off and move on.
Will

PS- Richard, we are really glad that you and your family are fine. Take care.

[luvrbus]

With ACV even with a appraiser they are going to pay you the average the bus is selling for today they usually take 2 or 3 buses of the same year model to base that on, they don't really care how many manhours you have in it or how much you think it is worth . Some insurance co's will want 2 appraisals if they don't agree with the 1st appraisal then they send their appraiser out.
Declared value is better insurance but they can screw you with it too,dealing with 2 insurance co's I feel for you      

[kyle4501]

The more paperwork you have to support it's value, the better. If you can show it is well above average, it can't hurt.
The modifications have value - identify that value & back it up.

Insurance wanted to total a camaro, but after seeing all the paperwork showing how well it was maintained, they repaired it.

BTW,
Thanks for sharing - many will benefit from your experiences.

[luvrbus]

He may get lucky and have a good adjuster to work with,but with the adjuster asking for a appraisal I don't know which way it is headed for him.
Joe I doubt they pay for the appraiser since they told him to get the appraisal     

[oldmansax]

Apparently we have 'actual cash value' coverage.

Any recommendations on finding an appraiser to help establish ACV?

Richard

1964 PD4106-2412

Richard,

This guy is certified and knows buses:

John McGinnis 88FC35 "Bird Brains" Louisville, KY/Jeffersonville, IN
2000 Jeep Cherokee
https://allwheelappraisals.com/
johns.mcginnis @ hotmail.com
502-417-5681

TOM

[edvanland]

In Cornville. AZ doesn't send out a appraiser. When our trike and trailer was wrecked in June they used a third party company and took their quote and then we fought as they had the trike as a bike and the trailer as a 2 axle not 3. I fought the law and won.

[windtrader]

What may be of benefit in case of old bus conversions is getting s value that works for you. Often, one can clip recent for sale ads to establish s comparable value.

In the current market, is really easy to collect plenty of ads showing above market pricing.

I'd be certain the claims adjuster will have no idea of the actual selling price to a cash buyer.