Re: NADA values = collision value? - Saab 9-5 Bulletin Board - Saabnet.com
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Re: NADA values = collision value?
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Posted by BrianC [Email] (more from BrianC) on Wed, 12 Apr 2017 10:02:22 Share Post by Email
In Reply to: Re: NADA values = collision value?, SRS900S, Wed, 12 Apr 2017 08:51:13
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I think it depends on both the state and the insurer. When my 2006 Aero wagon was totaled I was not carrying any collision coverage on it. Luckily it was the other person's fault but the insurance company played a little rough - they knew I couldn't turn around and file a claim with my insurer to level the field. At that time (in California) they valued based on identical comparable vehicles. No other model years, no sedans. Just the exact year and exact model. I had a heck of a time explaining the difference between aero, sport, and normal. Ultimately, they arrived at 3 comps (in the area only) based on their database. The plus is the comps are list price and not sales price. The downside is there's usually no disclosure about prior accidents for the comps and there are limits on condition adjustments.

In the end I would avoid the collision coverage if you can but I wouldn't worry about NADA valuation unless there are no comparable vehicles around you. Another option is to go with a classic car insurer and you pay a rate based on what your perceived value is.

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