Insurance Appraisal Report
This is a detailed condition and value report that is used as the basis
of a “stated value” automotive insurance policy endorsement.
These reports can also be used by the consumer as a means to notify their
insurance underwriter of improvements or modifications to an automobile,
which may avoid a denial of claim. “Collector car” insurance
policies always require these reports and many underwriters in Ontario
require this report for any vehicle that is older than 17 years, regardless
whether it is considered a collector car or not. This type of report can
be produced for automobiles, trucks, trailers, tools, parts, restoration
projects, and even non-licenced race cars. In short, for any vehicle or
auto related object that may be subject to an “agreed value”
insurance policy.
FEE: $175 plus applicable taxes
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“After Loss” Appraisal
This is a report concerning a vehicle after it has been damaged so that
its value has been diminished or it has been damaged, burned or stolen
to the extent that it is a “total loss.” The report establishes
the value of the vehicle prior to the damage in Actual Cash Value using
terms and procedures accepted by the insurance industry.
FEE: $450 plus expenses and applicable taxes
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Pre Purchase Inspection (PPI)
This is a package consisting of a detailed mechanical inspection/report
performed by a licenced mechanic as well as a detailed value and condition
report performed by a licenced appraiser. The package can also include
an insurance appraisal report, Retail Sales Tax appraisal, and mechanical
fitness certificate. It is always good business sense to have a professional
PPI done prior to the purchase of a high value, collector or exotic vehicle.
FEE: $275 (minimum) but normally 1 to 3% of the value of the car
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Estate Appraisal
This is a simplified condition/value report or list that is made in the
case of divorce, deceased, or charitable donation.
FEE: $175 per vehicle plus expenses and applicable taxes
(discount available for multiple vehicles)
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Retail Sales Tax Appraisal (RST)
The Ontario government requires that you pay Retail Sales tax when transferring
ownership of a vehicle. If the vehicle is not in the Canadian Red Book
(over 17 years old), or, when the vehicle is newer but is damaged or lower
valued than wholesale value you need this simple one page report. It is
produced “on the spot”.
FEE: $50 (tax included)
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VIN Corrections
If the VIN (serial number) of your 30 year old or older collector vehicle
is incorrect or missing, a licenced appraiser is empowered by the Ontario
government to officially correct the VIN.
FEE: $175 plus expenses and applicable taxes
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Pre Trial reports, Expert Testimony
Fraud investigations, depreciation reports, civil suits etc....
FEE: Hourly report rate or court appearance rate of $240 plus expenses,
subject to minimum 4 hour charge. A Simple Letter of Opinion is $95
plus expenses and applicable taxes.
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Insurance Appeal Process
If you, as a consumer, are unhappy with a financial settlement offered
by your insurance company, you have two options. You can go to direct
mediation with the insurer or you can use the GIO (General Insurance OmbudService).
In either case, you are advised to use the services of a licenced appraiser
to properly represent your case with a value/condition report.
FEE: Report $175 plus expenses and applicable taxes
Mediation: $75/hr plus expenses and applicable taxes
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