Insurance Fixed Value

[jhv48]

Originally Posted by WardL

Where do they get the selling price information on several Cobras similar to yours? I've seen the asking prices for various Cobras on Cobra Country, but not the selling price. I've often wanted to create a "Blue Book" for our Cobra's but didn't know where to find the actual selling price. It is a "two edged sword" if you had access to the DMV records since owners may low ball the price to the DMV (not that anyone here would do that...).

They arrive at a selling price for cobras the same way they arrive at a selling price for any vehicle. Survey sellers. If none available, contact dealers and survey their sales figures. DMV numbers never figure into the equation. Once they have arrived at a value determination, they present the offer to the customer. If he thinks it is reasonable, he accepts the offer. If he believes his vehicle was worth more than the others, he must show why he believes that. Usually, receipts are all that's needed to show why the vehicle in question was more valuable than the others. It can't be because your car was just waxed or just had the windshield replaced or had new tires (those are maintenance items). It must be upgrades that you did that increased the value of the vehicle. Like installing a killer stereo or $30,000 Shelby all aluminum big block. Those items add value to the car and would be factored into the replacement price.

If any of you are skeptical, call your insurance company and ask them how they would determine the value of your cobra if it was totaled. If you don't like the answer, find another insurance company. It isn't always the case that cheaper is better. It is until you have a loss, then you might wish you had paid a little more attention to the company rather than the price.