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This is the determination of the "replacement cost" of a vehicle for insurance coverage. This is only for vehicles that are antiques, classics, customized, special interest, etc. This is different from an ACV since the vehicle may have no true market analysis due to its age, customization or rareness. Therefore, each vehicle is evaluated on its own basis in many areas. These may include, but are not limited to, the following: uniqueness, originality, rareness, restoration quality, receipts, etc. Therefore, the vehicle is appraised in an effort to protect the owner's investment in a vehicle. Also, this benefits the owner and the insurance company to have the value properly stated so that the premiums are set accordingly.
Automobile Appraisal Co., Inc.