Insurance Appraisal

[Farrell]

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MessageThanks Phil. Be aware though, at least with State Farm, you can =
buy a homeowner's policy in two forms. One is a "replacement cost" =
policy that will replace your 25 year old stove with a new similar =
stove. But, for a few dollars less, you can indeed purchase a policy =
that will only provide a market cost replacement - indeed, your 25 year =
old stove will be replaced with a stove (or cash) that reflects the =
value of your 25 year old stove - much like they will do on an =
automobile.

Terry Farrell
  ----- Original Message -----=20
  From: Phil Bondi=20
  To: 'Pianotech'=20
  Sent: Tuesday, November 25, 2003 7:56 AM
  Subject: RE: Insurance Appraisal


  Terry, I've always done my insurance appraisals as NEW =
replacement..that's what your 'contents' insurance will cover now..NEW =
replacements..you aren't going to replace a 25 year old stove with a 25 =
year old stove..you're going to get a new one..why should a piano be any =
different?

  In a case where a particular model or make is no longer in production, =
I look at the nearest compatible make and model, and write the appraisal =
from there.

  I've never had a problem or a question from a insurance agency..don't =
forget..they have no clue as to what a piano is worth..we are the =
experts, and that's why they ask us for such information.

  -Phil Bondi(FL)
  phil@philbondi.com=20

    -----Original Message-----
    From: pianotech-bounces@ptg.org [mailto:pianotech-bounces@ptg.org] =
On Behalf Of Farrell
    Sent: 25 November, 2003 6:50 AM
    To: Pianotech
    Subject: Re: Insurance Appraisal


    Yeah, but replacement with what? New or one at a similar state of =
repair.

    Terry Farrell
      ----- Original Message -----=20
      From: Phil Bondi=20
      To: 'Pianotech'=20
      Sent: Monday, November 24, 2003 1:37 PM
      Subject: RE: Insurance Appraisal


      Terry, I've always done insurance appraisals as replacement =
value..no questions asked. The reason they want to insure it in the =
first place is to replace it if they have to. Sometimes, when they find =
out they will have to carry a separate rider on their insurance policy, =
they value of said Steinway goes down in value in the owners eyes..I've =
seen it both ways down here.

      my experiences,
      -Phil Bondi(FL)
      phil@philbondi.com=20

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