A number of people call our classic car appraisal service looking for help with an insurance dispute over the value of the vehicle that they have been offered by their insurance company. They start out by explaining how little the insurance company has offered. As I dig deeper with more questions, I discover that the vehicle they have has a rebuilt, branded ownership. In this situation, the insurance company normally reduces the average market value of the vehicle by 40%. 

This comes as a big shock because people grossly underestimate the value penalty for a branded ownership vehicle. The branded vehicle that they buy may look like new, and the salesperson may be very reassuring as to the quality of the vehicle, but of course they never mention its true value due to its branded status. It’s very common that the owner does not know who assembled the vehicle after it was written off, this can be important in assuring the integrity of the rebuild. 

LIPSTICK ON A PIG
Avoiding Life’s Lemons

Lipstick on a Pig features excerpts from the vast library of Maurice Bramhall’s experiences.

FOR SALE: 1968 Jaguar E-Type Roadster (red)

Matching numbers engine and transmission. More information on the listing page.

UPDATE October 2019: Please note that the contest is closed and a winner has been selected at random.

End the summer right!

Win a $100 Canadian Tire Gift Card from Bramhall Classic Autos.

The contest is very simple. All you need to to do enter is to ‘follow us on Facebook’ at one (or both) of our Facebook pages. Each follow counts as one entry. On September 15, 2019 the winner will be selected at random and then contacted through Facebook to make arrangements to collect their prize via mail. Please review the Contest Rules prior to entry. Here are our two Facebook pages:

Bramhall Classic Auto

Maurice Bramhall & Associates (Appraisals)

FOR SALE: 1977 Rolls-Royce Silver Wraith

The body is perfectly corrosion free above and below. More information on the listing page.

An enthusiast buys a special interest car to restore and put on the road. They pay $15,000.00 for the car and flatbed it to their mechanic.

They call their regular insurance company and obtain a policy for it, and when asked how much they paid for it, the owner says $15,000.00. The owner doesn’t think a thing about it until a total loss occurs.

They had $12,500.00 put into it before it went on the road (for a total investment of $27,500.00). Then, a total loss was caused when the car was parked in their driveway. The insurance company had put a “19 endorsement” on the policy which limits them from paying any more than the $15,000.00. Due to this limit, the car is a write-off.

The lesson in this story is that you have to read the fine print at least on the page where it lists your vehicles and their respective coverage.

A “19 endorsement” limits the amount covered, a “19A endorsement” covers an Agreed Amount for a specific period of time, usually five years.

LIPSTICK ON A PIG
Avoiding Life’s Lemons

Lipstick on a Pig features excerpts from the vast library of Maurice Bramhall’s experiences.