Insurance

[R Carnella]

Anyone have thoughts on what the stated value should be on my suburban? I know it depends largely on location, but there aren't many comp's here on long Island to compare with. Mine is a 1990 v2500 Silverado. I would also consider this more of a resto-mod build but done very well, with only high quality parts.

 

[Grit dog]

Anyone have thoughts on what the stated value should be on my suburban? I know it depends largely on location, but there aren't many comp's here on long Island to compare with. Mine is a 1990 v2500 Silverado. I would also consider this more of a resto-mod build but done very well, with only high quality parts.

Well, you said it yourself. You have $25k in it, right? And did the work yourself iirc.
If your policy doesn’t require an appraisal then it’s whatever the agent/ insurance company will bear. Generally the cost of the premiums to increase value are not significant, so ask the question and max it out (within reason).
Or it’s whatever the appraised value is.
I’ve had ins companies go both ways on stated value. They’ve allowed a higher value than I thought covered it and they’ve allowed lower values.
I recall having the option for an appraisal if I thought it should be higher.

 

[waterpirate]

I am currently wrestling with this. Currently my agent asked for receipts and I countered with I will pay an appraiser of your choice. All this prior to any quote. Will keep you all posted.
nationwide btw.
Eric