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m j b · 20 June 2019, 01:14 AM

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.

20 June 2019, 01:14 AM	#5
m j b "TRF" Member Join Date: Mar 2011 Real Name: Michael Location: RTP, NC, USA Watch: ♕& Ω Posts: 5,085	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. __________________ Enjoy life - it has an expiration date. Disclaimer: Please note that the avatar is not an accurate representation of how I look. The camera adds 10 pounds...