LFT Value

[speweik]

I know this is an almost impossible question to answer without seeing the truck and I understand that something is only worth what someone will pay for it, but I need to try to come up with a fairly accurate for my 1952 LFT for insurance purposes. At first I thought, in its current condition, that it was worth, for insurance purposes, $3500.00, at most. But once I start thinking of 6 new tire, two new wheels, $200/ton scrap, etc., I start to think that $3,500.00 wouldn't replace what I have. I have pictures posted in my avatar, but am having trouble posting more from my iPAD. In essence, it is a running, driving truck with the Lanova diesel and a rusty cab. The frame is good,the tires are new, and it needs a lot of work. Any input?

Thanks,

Corey

[daveigou]

A value for insurance purposes may be different than a "fair market" value. For insurance purposes, what you have in a vehicle may be a legitamate (replacement) value. On the other hand, a fair market value can be considerably different, being a transaction between a willing seller and a willing buyer.

Your $3,500 value for this purpose seems reasonable, typically appraised values for this purpose are higher, not necessarily a market value. In the end, if you suffer a loss, the insurance company will pay whatever they want anyway.

[Vladislav]

I'm not on the U.S. market but I'm looking around L's. Shure that $3,500 is well reasonable. At least it's not expensive selling the truck.

What the Lanova ? (Who the hell is Lanova? )

END-672 or ED ?

Vlad.

[mike69mackman]

Can you pm the specs to me? I have a friend who works in the ins industry was dealing with commercial trucks he might be able to help.

[mike69mackman]

I have info for you I'll pm it over to you