Quote:
Originally Posted by m j b
Just like fine art, the appraisal should reflect the current market value, the cost to replace it.
It's up to you though, because (for instance) I had my Daytona appraised, and they did it for new replacement cost (about $32K) whereas the actual market value is about half of that. I chose to insure it for the market value, since my premiums are based on the whatever amount I choose.
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Agree with this; that's kind of why I haven't gone out and insured the Hulk at current market value, to keep down that premium.