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Old 07-09-2009, 01:20 PM   #1
Rascl93
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Default How much did it cost?

Ok - question for all you gurus out there. My insurance company wants to know how much my cart cost new. Not what I paid for it, or what it could be sold for, but how much it was new. It's a 1992 Yamaha G9 gas. Anyone have a clue or know where I might find out?

Thanks.
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Old 07-09-2009, 01:34 PM   #2
hotmomma
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Default Re: How much did it cost?

Wow what the heck?...Have you tried to contact a dealer in your area, they may have something like that on record. Other than that I dont have a clue that was 17 years ago! Good Luck!
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Old 07-09-2009, 01:40 PM   #3
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Default Re: How much did it cost?

I know - can't imagine how many people have owned it since then. I figured they would want what I paid for it and its value since I was getting full coverage with replacement. Who knows.
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Old 07-09-2009, 01:59 PM   #4
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Default Re: How much did it cost?

...I would think that what you have invested in the cart would be higher than the original price unless the cart is all original with no upgrades done to it.
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Old 07-09-2009, 02:02 PM   #5
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Default Re: How much did it cost?

Since you are going with a replacement contract, they probably need to know the original value, so they can compensate accordingly, if it comes to that. They'll devalue as necessary based on age, etc.. Just give them a # you think is fair, considering what you have invested, plus a slight markup, to make up for the devaluation they'll assign... lol

What's a new one go for now? I'd say it'd be pretty comparable to what yours was when it was new, but yours might have been MORE at the time...

Tough one really.
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Old 07-09-2009, 02:06 PM   #6
Rascl93
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Default Re: How much did it cost?

Of course they have no idea. They want to say $2500 - I can't buy a new one for that.
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Old 07-09-2009, 02:22 PM   #7
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Default Re: How much did it cost?

Quote:
Originally Posted by Rascl93 View Post
Of course they have no idea. They want to say $2500 - I can't buy a new one for that.
Heck no you cant get a new one for that!
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Old 07-09-2009, 02:24 PM   #8
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Default Re: How much did it cost?

I can barely buy a used one for that let alone the lift, tires & paint.
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Old 07-09-2009, 03:39 PM   #9
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Default Re: How much did it cost?

I would just tell them that since you are requesting replacement coverage, you want insurance that will properly cover the current value as it is equipped, and give them a number. Tell them if they are unable/unwilling to cover it, you'll be happy to take your money elsewhere. There are plenty of insurance companies out there, all ready and willing to take your money!

It is a "specialty" vehicle, and requires custom coverage terms, and if they are not interested in covering you, I would most definitely shop elsewhere. I have had custom vehicles (4x4's, hot rods, motorcycles, etc.) which could in no way be valued based on the "original" vehicle cost, and I was always able to find coverage. Granted it can be fairly costly if you have something of enormous value, but it shouldn't be too bad for a golf cart with maybe $3500-5500 value (possibly more depending on what you have done to it exactly). NEW carts are anywhere from $3500-10,000, so...

I wish you the best of luck with it. Let us know what you come up with, and how it turns out.

What company are you dealing with, and are you dealing locally with a real live person, or by phone/internet with some lackey on the other end? I ALWAYS give my local agent (automobile, RV, Home Owners, business) a shot first, and then I comparison shop, and if he can't or won't cover something, or the rate is higher than others and he can't match it, I take my business to the other company. I have yet to be turned down for any coverage I have looked for from my main agent though, even if it required they track coverage down through one of their smaller "sister" companies. My crotch rocket cost me $107 a year through their sister company, because they couldn't cover it directly since they don't cover sport bikes larger than 600cc and of a certain age (mine was an 1100cc).
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Old 07-09-2009, 03:46 PM   #10
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Default Re: How much did it cost?

Quote:
Originally Posted by Rascl93 View Post
Of course they have no idea. They want to say $2500 - I can't buy a new one for that.
No, but you can buy another used one for that (yours isn't NEW is it?), and build it to suit your desires. Likely it'd still cost more than that, but you can't expect a brand new one to replace an "old" one. You can however request market value for how it's equipped (used cart value, plus all parts). If you buy a used CAR you don't expect the insurance company to replace it with a brand new model do you? :)

Forgot in the other post to say that you need to make sure you get EVERYTHING IN WRITING, showing the actual coverage, or when/if the time comes they'll find a way to screw you.
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