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Professional Appraisal

G

gdimion

GDimion
I live in BC Canada.
I have a 1980 R100T 6170523. Lots of options.
I need an appraisal done to up the insurance value from $1800 to something realistic.

Can it be done from photos, in person only, or....?
 
I guess it would depend on what your insurance company would allow. I have vintage insurance on several motorcycles and I can put whatever value I want. There may/may not be restrictions on how much I can ride per year, but that doesn't factor in for me.

Here is a NADA listing for the bike...I tried to select "outside of US" for the basis...not much difference if I select for my zip code.

http://www.nadaguides.com/Motorcycles/1980/BMW/R100T-980cc/Values

You could collect a range of listings for a similar bike on ebay, craigslist, cycletrader, etc. There's on 1980 R100 on the MOA marketplace right now. Maybe evidence of maintenance records helps??
 
Living in BC with our government owned insurance monopoly is not without it's challenges. For years now I've been buying the basic insurance we all need to have to legally ride down the roads here from Insurance Corporation of British Columbia (ICBC). Basic is what we used to call Public Liability and Public Damage. But I buy ALL the other insurance (fire, theft, vandalism, glass, vehicle replacement...) from a private vendor. I use Hatton Insurance located in Duncan BC because the owner is a Paris Dakar veteran and a motorcycle guy.
He also gives Bee Cee Beemers club members a nice discount. This coverage is a LOT cheaper than ICBC and also allows me to negotiate the declared value for replacement should the bike be a total loss.

The underwriters for the private guys are usually Beacon and Intact. Intact insurance is far better in my experience and a good buddy just hit a deer a month ago and Intact was not only very fair to him but his experience was really great. They even travelled to his home to do the appraisal and worked with him to his satisfaction.

So instead of needing a formal appraisal, you might want to go this route also. Most of us in the club have ditched ICBC for Don Hatton or Megson Fitzpatrick for our extra coverage for these reasons.
 
gdimion said:
I live in BC Canada.
I have a 1980 R100T 6170523. Lots of options.
I need an appraisal done to up the insurance value from $1800 to something realistic.

Can it be done from photos, in person only, or....?
Click to expand...

Good afternoon,

I am often asked to do out of province appraisals especially in BC and Saskatchewan due to the province having a government controlled insurance. The biggest issue with these people, they do not know nor do they understand motorcycles.
May want to check out my web site and I am a phone call away.
www.ricksmotorcycleappraisals.ca
 
happy wanderer said:
Living in BC with our government owned insurance monopoly is not without it's challenges. For years now I've been buying the basic insurance we all need to have to legally ride down the roads here from Insurance Corporation of British Columbia (ICBC). Basic is what we used to call Public Liability and Public Damage. But I buy ALL the other insurance (fire, theft, vandalism, glass, vehicle replacement...) from a private vendor. I use Hatton Insurance located in Duncan BC because the owner is a Paris Dakar veteran and a motorcycle guy.
He also gives Bee Cee Beemers club members a nice discount. This coverage is a LOT cheaper than ICBC and also allows me to negotiate the declared value for replacement should the bike be a total loss.

The underwriters for the private guys are usually Beacon and Intact. Intact insurance is far better in my experience and a good buddy just hit a deer a month ago and Intact was not only very fair to him but his experience was really great. They even travelled to his home to do the appraisal and worked with him to his satisfaction.

So instead of needing a formal appraisal, you might want to go this route also. Most of us in the club have ditched ICBC for Don Hatton or Megson Fitzpatrick for our extra coverage for these reasons.
Click to expand...

Thought I would jump in here and make a comment about private insurance underwriters.

The one thing that all of us should be asking when it comes to insurance, is what are the endorsements covered under your policy? Always ask if your policy is covered under what is known in the industry as a 19a. Which in simple layman’s terms means that once the insurance agent/underwriter accepts the appraisal that is submitted, that is the amount that is paid out in the event of loss! Often times the adjuster makes the rules, but not with the 19a clause, as it is a binding legal document that the insurance company has agreed too!

I have lost track of how many folks come to me after the fact when something happened and had no idea about their endorsements.

Remember 19a and I know Intact has such an animal here in the province of Alberta.
 
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