FAQs | Kingsway Valuations

FAQs

  • What’s included in a standard appraisal?

    Standard Appraisal:
    • The vehicle is inspected on-site or at an agreed location; we come to you.
    • Appraisal is a professional document for your records and for insurance purposes.
    • We create a record of the current market value and condition for you.
    • Multiple colour photographs are included to capture your vehicle as it appeared on the date of inspection.
    • We compare the VIN to the vehicle’s documentation and other identifiers.
    • The appraisal report is delivered to you electronically.
    Options:
    • Full-colour printout of the appraisal.
    • High-resolution print and lamination or mounting of the front page of the report.
    • USB drive of all photos taken during the inspection.

    Do you need to see the vehicle?

    In most cases, yes, we need to see the vehicle in order to provide the most accurate assessment. There are some exceptions.

    What are the exceptions?

    Common exceptions include:

    • Vehicles that are part of an estate and an initial value is needed for the probate application.
    • Vehicles that have been seized or ticketed in place by a sheriff as part of a legal proceeding such as enforcement of security. An initial value may be required before the vehicle can be moved to a more appropriate location.
    • In a post-loss assessment after a vehicle has been destroyed or stolen and examination is not possible.

    What is the appraised value?

    In most cases, we determine an agreed, appraised value for the purposes of obtaining insurance coverage. This value is calculated using the fair market value of the vehicle plus the applicable local taxes such as HST. This gives you and your insurance company certainty on what is to be covered and the right premium for that coverage so that everyone has peace of mind.

    We can also provide different calculations of value such as liquidation pricing, or replacement value in the case of a highly customized vehicle or one restored to a concours or better standard such as OE Gold, Bloomington etc.

    Are Kingsway’s documents suitable for legal matters?

    A standard appraisal is usually sufficient for most matters such as obtaining insurance, division of property or wills and estates.

    For more complex and/or disputed matters such as insolvency & restructuring procedures, OMVIC or CAMVAP arbitrations, deficiencies, post-loss assessments, please contact us. At Kingsway and P.A.V.E. we are experienced with the requirements of the Ontario legal system and we can prepare the necessary supporting documents and/or provide expert witnesses as needed.

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