Recently Automotive Consulting Group was commissioned to Appraise the theft of a high dollar lifted truck that had no documentation or receipts for the over $10k in aftermarket equipment. While we were able to help the consumer negotiate the slippery slope in building value to provide the insurance company satisfactory documentation in the form of a very detailed list of equipment and labor involved to achieve such an amazing work of art, the time and effort involved was approximately 4 times the cost of an Appraisal if the Appraisal would have been done prior to the theft. We cannot stress the importance of having your lifted and or customized prized possession fully documented in an appraisal that would be utilized if you find yourself in this most awkward situation.
Deep in your insurance policy is the all important "Outline of Coverage" or Lack of Coverage is typically what the insurance refers to when they are denying your claim for additional coverage for accessory and aftermarket equipment. Your Appraisal documents the value of all the extras in conjunction with your declared items for Accessory Coverage and makes it much more difficult for insurance to deny this part of the claim.
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