Why should I have my custom car appraised?

The number one reason you should have a custom car appraised is to establish its accurate market value and protect your investment. An appraisal provides a certified document for "agreed value" insurance policies, which ensures you receive the correct amount in case of a total loss and prevents insurance companies from depreciating the car's value. It also provides a fair and reliable basis for selling, dividing assets in divorce or inheritance, or determining tax deductions.

Agreed Value Insurance Policy: An appraisal allows you to get an "agreed value" insurance policy, ensuring you are paid the full appraised amount in a total loss claim, rather than a depreciated "stated value" amount. The method used by insurance companies to determine a car's value does not take into consideration custom modifications; this includes items like custom wheels, high-performance engines, custom paint, interior upgrades, etc.

Obtaining a certified appraisal can provide protection in various situations. Without it, if your custom car, in which you've invested thousands of dollars and has a market value of approximately $30,000, is totaled, an insurance company might only offer you $22,000.

Let us help you protect your investment with a certified appraisal. Contact us for more information. Also visit https://www.insightautogroup.com/appraisals