Why would you need a vehicle appraisal?

If you own or buy a classic vehicle, exclusive or prestige-brand vehicle, or have restoration work done, then an appraisal of your vehicle is recommended. You don’t have to be a car collector to need an appraisal.

An appraisal is a professional independent valuation of your vehicle. This valuation is helpful for determining the proper amount of insurance coverage. It is also helpful if you are involved in a no-fault accident or if you lose your vehicle to a fire or theft, etc. An appraisal document can increase the selling price of your vehicle.

The appraisal is performed and written by an expert approved by insurance companies. The expert looks at every aspect of the car using the following parameters:

  • Vehicle documentation: Invoices, registration/title document, MOT certificate, maintenance records, and provenance
  • The vehicle itself: Year, make, model, engine type, rarity, special editions, special options and accessories, history, restoration or repair work, and condition

When your car is professionally appraised, the value of the vehicle is accepted by the insurance company.

The Appraisal Documents

Once the inspection and evaluation process is complete, the appraisal report is prepared: one copy is provided for the insurance company and one copy is provided for the owner.

The report will indicate the appraised value and the vehicle data on which the value is based on. The report will also include photographs to document the condition of the vehicle at the time of the appraisal. Some vehicles will receive addition description and detail about special model types and unique aspects.

As mentioned, you don’t have to be a car collector to need an appraisal. For example, a vehicle that doesn’t have a lot of book value, but incurs much expense for repair or restoration due to an emotional attachment, is certainly worth getting an appraisal for. Another good candidate for an appraisal is a wreck that needs restoration.

An appraisal report is valid for 5 years. If for some reason the vehicle’s value increases significantly within a shorter period of time due to market-driven demand or restoration, then it is advisable to have a reassessment performed.


To receive more information or schedule an appointment for an appraisal, please contact us.

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