Classic-Car Eligibility
Check classic-car mileage and agreed value against supplied eligibility limits.
Description
A classic-car eligibility model combines a mileage ceiling with an agreed-value tolerance around an appraisal.
A classic-car eligibility model combines a mileage ceiling with an agreed-value tolerance around an appraisal. Both checks must pass.1
Check classic-car mileage and agreed value against supplied eligibility limits.
When to use Classic-Car Eligibility
Use this tool to check classic-car mileage and agreed value against supplied eligibility limits.
Prepare the supplied policy terms, dates, assumptions or recorded indicators requested. Keep monetary amounts on one currency basis and select the applicable thresholds separately.
How to use Classic-Car Eligibility and understand its results
- Prepare the supplied policy terms, dates, assumptions or recorded indicators requested. Keep monetary amounts on one currency basis and select the applicable thresholds separately.
- Enter annualMileage, maximumMileage, agreedValue, appraisedValue, valueTolerancePercent using the field table and calculation rules, then run the tool.
- Read mileageMargin, valueDifferencePercent, mileageEligible, valueSupported, eligible. The explanation below defines the units, signs, ordering and any flags or placeholder values.
- If the tool reports an input issue, correct the values and run it again. Apply the stated assumptions when interpreting a successfully returned result.
| Input field | Meaning | Value type; see rules below | Requirement |
|---|---|---|---|
| annualMileage | Annual mileage (mi) | integer; minimum: 0 | Required |
| maximumMileage | Maximum eligible mileage (mi) | integer; minimum: 0 | Required |
| agreedValue | Requested agreed value | number; minimum: 0 | Required |
| appraisedValue | Appraised value | number; minimum: 0 | Required |
| valueTolerancePercent | Allowed value difference (%) | number; minimum: 0 | Required |
Enter nonnegative integer mileage/ceiling, nonnegative agreed value/tolerance and positive appraisal. Return mileage margin, value difference, individual gates and conjunction.
valueDifference%=100|agreed−appraised|/appraised; eligible=mileage≤maximum AND difference≤tolerance Units, indexing, boundary conditions and exceptional cases are defined in the calculation rules above.
| Output field | Meaning | Value type |
|---|---|---|
| mileageMargin | Mileage margin (mi) | integer |
| valueDifferencePercent | Agreed-to-appraised difference (%) | number; minimum: 0 |
| mileageEligible | Mileage eligible | boolean |
| valueSupported | Agreed value supported | boolean |
| eligible | Meets both supplied conditions | boolean |
{
"input": {
"annualMileage": 3000,
"maximumMileage": 5000,
"agreedValue": 51000,
"appraisedValue": 50000,
"valueTolerancePercent": 5
},
"output": {
"mileageMargin": 2000,
"valueDifferencePercent": 2,
"mileageEligible": true,
"valueSupported": true,
"eligible": true
}
}Limitations and assumptions
No age, storage, vehicle condition, appraisal authenticity or insurer eligibility rule is checked.
Numeric inputs must be finite. Follow the calculation-specific rules for overflow, underflow and exceptional cases. Missing required fields, extra fields, wrong value types and violations of the calculation rules are input errors. A successfully returned false flag is an evaluated outcome; its meaning is explained above.
Alternative or Complementary methods
Use Pilot Underwriting Score: Score pilot underwriting risk from experience, aircraft complexity, and incidents. For a complementary task, use Wind-Mitigation Credit: Apply wind-mitigation credits subject to a caller-supplied cap.
References
-
Classic-Car Eligibility — tool.io
Similar or alternative tools
- Pilot Underwriting Score
Score pilot underwriting risk from experience, aircraft complexity, and incidents.
- Wind-Mitigation Credit
Apply wind-mitigation credits subject to a caller-supplied cap.