Our appraisal services include expert opinions on the actual cash value of vehicles of all kinds. If you can drive it, ride it or tow it behind you, we can appraise it.

We offer two types of appraisal.

Insurance claims

The first is an opinion on value that would typically be required in disputes over value with insurers like MPI. If you feel that your insurer is undervaluing your “written off” vehicle, we can provide an independent evaluation that you can rely on to counter their lower offer and, if necessary, we will represent you in any dispute in the appraisal / arbitration process.

Under the current MPI policy, you have the right to appeal any offer made to you in the event of a total loss claim. The appeal process, commonly referred to as appraisal or arbitration, allows you to hire an appraiser to represent you in the arbitration. Once initiated, MPI must also hire an independent appraiser to represent them in the dispute. Once the arbitration is underway, MPI is no longer involved in determining the vehicle’s actual cash value and must pay the value decided by the two appraisers. A more detailed explanation of the Arbitration process can be found on our Arbitration page.

Actual Cash Value (ACV)

The second appraisal format is a more comprehensive version that is typically required by owners to establish the actual cash value of any vehicles, including exotic vehicles, collector cars and trucks and specialty vehicles like RV’s, highway tractors and heavy equipment. These appraisals can be done on a one-time basis or can be updated bi-annually to keep them current.

The most common misunderstanding we see in the appraisal process is some people’s belief that “money spent” equals “actual cash value”. That is simply not the truth. The truth is that while some investments and upgrades will increase a vehicle’s value, that doesn’t mean that all will. For example, much of the money spent by most vehicle owners is classified as a “maintenance” or “cost of ownership” expense and will not necessarily increase the value of a vehicle.

The actual cash value of any vehicle is defined by the International Automobile Appraisers Association as…

“the highest price, expressed in terms of money, that the vehicle would bring in an open and unrestricted market between a willing buyer and a willing seller, who are both knowledgeable, informed, prudent and who are acting independently of each other”.

So… before you start spending on add-ons and upgrades, weigh the cost of the upgrade or improvement against the actual cash value of the vehicle when complete. Like any smart investment, it’s good to know if there’s a positive return on that investment when it’s time to sell. An appraisal is a good first step in the process.

Talk to us about what type of appraisal best suits your circumstance and we’ll explain in more detail.