Appreciating Cali Values?

[Prycey13]

Anyone else in a position where there California is now worth more than they paid for it? Been looking at the classified section and autotrader and suggests my T6 may be worth more than I paid. Obviously depends on whether people are selling at these prices or heavily discounting?!? So my question is that if the unthinkable happened and my California was written off how would this work? Has anyone taken out gap insurance even if they don’t have any finance outstanding on the vehicle? Am sure the insurance companies will give the bare minimum and not the replacement value of the van?

Thoughts/views greatly appreciated

 

[OGII]

Anyone else in a position where there California is now worth more than they paid for it? Been looking at the classified section and autotrader and suggests my T6 may be worth more than I paid. Obviously depends on whether people are selling at these prices or heavily discounting?!? So my question is that if the unthinkable happened and my California was written off how would this work? Has anyone taken out gap insurance even if they don’t have any finance outstanding on the vehicle? Am sure the insurance companies will give the bare minimum and not the replacement value of the van?

Thoughts/views greatly appreciated

Yes, ours is nationally worth more than we paid. In theory the insurer should give you market value (or your sum insured if lower).

Counter intuitive but may be worth making sure your insured value is above book, that way the insurer can't argue you were underinsured and make a proportional adjustment.