Total Loss of Classic with Appraisal

I have a classic truck that was in a car accident. No one else involved. If I had to have an appraisal to have it insured is that what I should be paid out?

Am I able to buy the vehicle back once it is confirmed as a total loss?

Answer:

Probably not. Most auto policies are written to give you the actual cash value of at the time of the loss. The appraisal would be strong evidence, however, if the appraisal is older the insurance company will undoubtedly attack it (decrease the value of your car).

The best thing for you to do is to have a rated policy for the value of the appraisal (not your common auto policy). Either you get a rated policy or a policy with restoration terms in it, see: http://www.auto-insurance-claim-advice.com/restoration-coverage.html

Also, make sure you file a cope of the appraisal with your agent. If you fail to do this, you might be up for surprises later on.

Good Luck
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