Appraisal Value - The 1947 - Present Chevrolet & GMC Truck Message Board Network

LAP · 10-21-2002, 05:10 PM

The insuarance company of the lady that hit my truck is screwing me! How can I get a appriasal value for my truck that the insurance would take? Could somebody like WES or GMCPaul provide me with one since the deal with these trucks daily?

They say my truck is worth only $3600!

Here are the spec:
71 4x4 SWB fleetside (numbers match)
350/700R4 ($1200)
Factory Air (working)
Factory Tow hooks (since somebody ran up the prices

)
Factory Tach
All new exterior trim and lights
New oter grill and both new bumpers
and the list continues. . . .

I know that it isn't worth what I have in it but I see them go for around $10,000 on ebay.

Any suggestions??

**1971Stepside** · 10-21-2002, 05:21 PM

Do you have a special rider on your insurance to cover the truck in an accident, or do you have insurance for a 1971 Chevrolet pickup? You may have just learned a real hard lesson. If you have a truck with what you feel is more valuable than the loss rate your insurance company has it down for then I would get it upped. Same goes for your homeowners. I have already checked into putting a special rider on my homeowners to cover my truck while it is in the garage. I want them to know I have a bunch of dollars in this thing if it were to be blown away in a Tornado or a fire gets it.

You can talk to your insurance company and see if they have an adjuster in town that specializes in classics. They may be able to help you out.

Good luck

Ackattack · 10-21-2002, 05:22 PM

do you have any reciepts for things you've purchased? I have saved most of mine just incase something were to happen.

**Classic Heartbeat** · 10-21-2002, 08:39 PM

Are they trying to total your truck? Is it totaled? I am not an attourny by any stretch of the emagination, but I have heard from other people that they have got the inshurance company to replace the truck with another in the same condition befor the accedent. 71 Stepside is right though, the time to get the appraisal is befor the accident. Ackattack is correct also, because any documentation you have on the restoration should increase the replacement value. Good Luck... WES www.ClassicHeartbeat.com

PICKMUP · 10-21-2002, 10:45 PM

If it was your insurance co., you would probably lose, but this is someone who caused you damage & must replace/repair that lost value. I help guys with this problem, all the time. You need to show other similar vehicles & their values. Go to Hemmings, Ebay (Texas' Gary's truck), Truck Trader (over $8,000, of course) books & on line, and anywhere else these nice trucks show up for sale. Take a look at Old Cars Book and see the values of these trucks. Provide copies of this info to the adjuster and make sure they understand these are now specialty vehicles...Note how many companies have sprung up just for these trucks. Get what your truck is worth!

vcrazy8 · 10-21-2002, 11:06 PM

Check with some reputable body shops to find an appraiser. When I insured my truck my insurance company gave me an appraisal form and told me the name of a body shop that did appraisals. Good luck

DeepPurple · 10-22-2002, 11:21 AM

I do know of a few ways however to get them to perhaps see things from your point of view as I've had some experience in this area.

In most any insurance contract there is a part saying "XX dollar amount or similar vechicle" The idea behind the similar vehicle piece was due to insurance companies screwing customers when their brand new car got wrecked on the way home from the dealership. (One of the only times that a decision was scored for the little guy)

That same clause can be used to help your case. When they try to pay you money simply state that you want a vehicle in similar condition to yours (same vehicle model and such) how similar and how much of a pain you want to be is up to you. Usually they'll balk about it at first.
If they really get squirrely demand a copy of the insurance papers she signed (they have to get them to you within 7-14 working days, if I remember correctly) and if you can halfway decipher legalise you should be able to find it. If you can't find someone who can.

To get your money this way can be a long drawn-out process, since finding said vehicle is difficult and believe me the company will do everything they can to blow you off and then find you an old beater on the other side of the country.
Usually the company just caves in to something resembling the original demand.

LAP · 10-22-2002, 11:31 AM

I talked with the orginal insurance adjuster that was hired by the old ladies insurance company. He said that it wasn't worth but $3600 and ask me if I picked it up. He has been calling the wrecking yard trying to buy it for $1200 ( the salvage value)!

I called other independent appraisal services. They have a book called the "Black Book" from CPI (Cars of Particular Interest) They showed $3300 for fair, $6800 for good, and $13000 for excellent condition. He was shocked because 73 - 78 trucks where worth about $2800 in good condition.

My truck fits in between good and excelllent. By no means is it a trailer queen but it isn't a POS either!

Off to the lawyers I go. I'm going to bleed them!

Woody · 10-22-2002, 12:27 PM

I went to get plate for my 68, (Fine69's 68 C20, Thanks Fine!!) and had to pay taxes on the purchase price, or on book value. They would not take the value fine and me put on the title so I had to get him to fill out another form......Sorry short story turned long....Any way I said 'What 's the book value ?' She looks it up in a yellow book (Looked like the blue book, but for older vechiles) and says Average Value for a 68 LWB C-20 is $5000! So I faxed Fine69 the form and paid a lot less in sales tax.

Also years ago I had the same thing happen with my truck. I gathered up local car traders with like optioned truck for them to use as what it would cost to replace the truck. I believe you should have a strong case for more $$$ for your truck, regardless of what you had your truck insured for. By the way I only have liability insurance on mine. Good Luck, and I hope the Lawyer doesn't eat up all the extra dollars.

10-21-2002, 05:10 PM	#1
LAP Registered User Join Date: Jan 2001 Location: Slaughter, La Posts: 153	Appraisal Value The insuarance company of the lady that hit my truck is screwing me! How can I get a appriasal value for my truck that the insurance would take? Could somebody like WES or GMCPaul provide me with one since the deal with these trucks daily? They say my truck is worth only $3600! Here are the spec: 71 4x4 SWB fleetside (numbers match) 350/700R4 ($1200) Factory Air (working) Factory Tow hooks (since somebody ran up the prices ) Factory Tach All new exterior trim and lights New oter grill and both new bumpers and the list continues. . . . I know that it isn't worth what I have in it but I see them go for around $10,000 on ebay. Any suggestions?? __________________ 68 50th Longhorn Custom Camper 396 A/C 25 options 71 C20 Cheyenne 71 K10 SWB Cheyenne 72 C10 Cheyenne ----------------------- Slaughter, La

10-21-2002, 05:21 PM	#2
1971Stepside Almost Satisfied Join Date: Mar 2002 Location: Springfield, MO Posts: 2,932	Do you have a special rider on your insurance to cover the truck in an accident, or do you have insurance for a 1971 Chevrolet pickup? You may have just learned a real hard lesson. If you have a truck with what you feel is more valuable than the loss rate your insurance company has it down for then I would get it upped. Same goes for your homeowners. I have already checked into putting a special rider on my homeowners to cover my truck while it is in the garage. I want them to know I have a bunch of dollars in this thing if it were to be blown away in a Tornado or a fire gets it. You can talk to your insurance company and see if they have an adjuster in town that specializes in classics. They may be able to help you out. Good luck __________________ 1971 C10 Stepside. LSx 6.0 with BTR Stage IV, Speed Engineering Headers, 4L80e transmission w/3200 Circle-D Stall. 3.73. Posi. Purchased this truck when I was 17. I started the rebuild (or take apart) in 1993. I have drug it around all over the country in pieces. Finally back on the road in 2021. "I can't complain, but sometimes I still do. Life's been good to me so far."

10-21-2002, 05:22 PM	#3
Ackattack Senior Member Join Date: Aug 2002 Location: Valley Center KS Posts: 3,525	do you have any reciepts for things you've purchased? I have saved most of mine just incase something were to happen. __________________ Project Bruiser: 68 Pro-Touring C-10 5.3L / 4L60E Project Ironhide: 97 GMC Crew Cab 4x4 Cummins SOLD: '69 GMC 1/2T SWB TBI'd: Project No Buck Assembly Manual Index Sign up Thread!!! Factory Service Manual Index

10-21-2002, 08:39 PM	#4
Classic Heartbeat Project Junkie! Fishing Poor!! Join Date: Dec 1999 Location: Olympia,Wa. 98512 Posts: 10,766	Are they trying to total your truck? Is it totaled? I am not an attourny by any stretch of the emagination, but I have heard from other people that they have got the inshurance company to replace the truck with another in the same condition befor the accedent. 71 Stepside is right though, the time to get the appraisal is befor the accident. Ackattack is correct also, because any documentation you have on the restoration should increase the replacement value. Good Luck... WES www.ClassicHeartbeat.com __________________ On-line catolog Classic Heartbeat Pickup Parts WEHEPP@comcast.net Call us Toll Free (888) 338-2502 Like Us on Facebook No appointment necessary. 72 BB Chevy Custom Deluxe / Custom Camper 67 I-6 (Soon to be 5.7 LS1) Panel 68 BB Chevy Short Bed 72 6.0 LQ9 Short Bed Chevy 4X4 Olympia's fastest growing truck parts supplier. Olympia's home for Wayward Chevys

10-21-2002, 10:45 PM	#5
PICKMUP "Trucks with Class" Join Date: Jul 2000 Location: OLYMPIA, WA, USA Posts: 8,168	If it was your insurance co., you would probably lose, but this is someone who caused you damage & must replace/repair that lost value. I help guys with this problem, all the time. You need to show other similar vehicles & their values. Go to Hemmings, Ebay (Texas' Gary's truck), Truck Trader (over $8,000, of course) books & on line, and anywhere else these nice trucks show up for sale. Take a look at Old Cars Book and see the values of these trucks. Provide copies of this info to the adjuster and make sure they understand these are now specialty vehicles...Note how many companies have sprung up just for these trucks. Get what your truck is worth! __________________ Email: frankeham@comcast.net Phone: 360-956-7170

10-21-2002, 11:06 PM	#6
vcrazy8 Registered User Join Date: Apr 2000 Location: florence alabama Posts: 81	Check with some reputable body shops to find an appraiser. When I insured my truck my insurance company gave me an appraisal form and told me the name of a body shop that did appraisals. Good luck

10-22-2002, 11:21 AM	#7
DeepPurple Real Deep... Join Date: Jun 2002 Location: St. Louis Posts: 116	Not an expert by any means I do know of a few ways however to get them to perhaps see things from your point of view as I've had some experience in this area. In most any insurance contract there is a part saying "XX dollar amount or similar vechicle" The idea behind the similar vehicle piece was due to insurance companies screwing customers when their brand new car got wrecked on the way home from the dealership. (One of the only times that a decision was scored for the little guy) That same clause can be used to help your case. When they try to pay you money simply state that you want a vehicle in similar condition to yours (same vehicle model and such) how similar and how much of a pain you want to be is up to you. Usually they'll balk about it at first. If they really get squirrely demand a copy of the insurance papers she signed (they have to get them to you within 7-14 working days, if I remember correctly) and if you can halfway decipher legalise you should be able to find it. If you can't find someone who can. To get your money this way can be a long drawn-out process, since finding said vehicle is difficult and believe me the company will do everything they can to blow you off and then find you an old beater on the other side of the country. Usually the company just caves in to something resembling the original demand. __________________ 1970 GMC C10 (Deep Purple) 383/700-R4 Mass Modifications 1976 GMC K5 Jimmy (Big Blue) 400/TH350 Coming soon to a drive-in near you... We have done So Much with So Little for So Long.. We are now qualified to do Anything with Nothing. Last edited by DeepPurple; 10-22-2002 at 12:55 PM.

10-22-2002, 11:31 AM	#8
LAP Registered User Join Date: Jan 2001 Location: Slaughter, La Posts: 153	I talked with the orginal insurance adjuster that was hired by the old ladies insurance company. He said that it wasn't worth but $3600 and ask me if I picked it up. He has been calling the wrecking yard trying to buy it for $1200 ( the salvage value)! I called other independent appraisal services. They have a book called the "Black Book" from CPI (Cars of Particular Interest) They showed $3300 for fair, $6800 for good, and $13000 for excellent condition. He was shocked because 73 - 78 trucks where worth about $2800 in good condition. My truck fits in between good and excelllent. By no means is it a trailer queen but it isn't a POS either! Off to the lawyers I go. I'm going to bleed them! __________________ 68 50th Longhorn Custom Camper 396 A/C 25 options 71 C20 Cheyenne 71 K10 SWB Cheyenne 72 C10 Cheyenne ----------------------- Slaughter, La

10-22-2002, 12:27 PM	#9
Woody Registered User Join Date: Feb 2000 Location: Georgetown, KY, USA Posts: 631	I went to get plate for my 68, (Fine69's 68 C20, Thanks Fine!!) and had to pay taxes on the purchase price, or on book value. They would not take the value fine and me put on the title so I had to get him to fill out another form......Sorry short story turned long....Any way I said 'What 's the book value ?' She looks it up in a yellow book (Looked like the blue book, but for older vechiles) and says Average Value for a 68 LWB C-20 is $5000! So I faxed Fine69 the form and paid a lot less in sales tax. Also years ago I had the same thing happen with my truck. I gathered up local car traders with like optioned truck for them to use as what it would cost to replace the truck. I believe you should have a strong case for more $$$ for your truck, regardless of what you had your truck insured for. By the way I only have liability insurance on mine. Good Luck, and I hope the Lawyer doesn't eat up all the extra dollars.

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