Standard auto insurance policies cover vehicles at their actual cash value — the depreciated market value at the time of loss. For most everyday cars, this works reasonably well. But for classic cars, exotics, heavily modified vehicles, restored classics, or any vehicle that is worth more than standard depreciation tables suggest, a standard policy can leave you dramatically underinsured.
Miami Auto Appraisers provides certified insurance appraisals that help vehicle owners in South Florida secure the right coverage, document their vehicle's value before a loss occurs, and resolve insurance disputes when a claim does arise. Our ASCAA certified reports are accepted by all major insurance carriers.
Reports accepted by Hagerty, Grundy, State Farm, GEICO, Progressive, and all major insurers
We travel to your location throughout South Florida
Nationally recognized appraisal standards for insurance acceptance
Many insurance carriers offer stated value policies for classic, antique, and high-value vehicles. To establish the stated value, your insurer requires a certified appraisal from a qualified professional. A stated value policy ensures that in the event of a total loss, you receive the stated amount rather than a depreciated ACV calculation that may be far below what you paid or what your vehicle is worth.
Note that there is an important distinction between stated value and agreed value policies. With an agreed value policy (preferred for classic cars), the insurer agrees to pay the full stated amount in the event of a total loss with no depreciation. Miami Auto Appraisers can help you understand which type of coverage is appropriate for your vehicle and provide the documentation your insurer requires.
If you have already filed a claim and believe your insurer's settlement offer is too low, you may have the right to invoke the appraisal clause in your policy. Florida insurance policies typically include an appraisal clause that allows either party — you or the insurer — to demand an independent appraisal when there is a dispute over the amount of loss.
Miami Auto Appraisers acts as your independent appraiser in this process. We review the insurer's estimate, conduct our own independent evaluation, and produce a USPAP-compliant report establishing the correct value. If our appraisal and the insurer's appraisal differ, a neutral umpire makes a final binding decision. This process frequently results in significantly higher settlements.
Even if you are not currently involved in a claim or dispute, having a current certified appraisal on file is one of the smartest things a high-value vehicle owner can do. A pre-loss appraisal documents your vehicle's condition and value at a specific point in time, making it far easier to substantiate your claim if a loss occurs in the future.
In South Florida, where hurricanes, flooding, and hailstorms can cause sudden, widespread vehicle damage, having documentation of your vehicle's pre-loss condition and value is particularly valuable. We recommend updating appraisals every two to three years, or after any significant restoration, modification, or market appreciation.
Lenders financing classic cars, exotic vehicles, or any non-standard vehicle often require a certified appraisal to confirm the vehicle's value as collateral. Our USPAP-compliant reports satisfy the documentation requirements of banks, credit unions, and private lenders throughout South Florida.
Protect your vehicle with a certified appraisal before a loss occurs — or fight back after one. Call us today for a free consultation.
