How do car insurance companies determine my car value?
Find answers to your legal question.
How do car insurance companies determine my car value?
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Little Trip To Heaven
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Aside from what they replied already, if you have a really clean car it helps if you take many photos of it so if you need to, you can prove that your car was in better than average condition.
Take photos of the motor, interior leathers etc etc. |
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joe kickass
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it's based on fair market value. in other words. what it would cost you to replace that exact same car. |
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peterthegreat
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They use industry-standard car value guides known as "black book". We can see similar guides such as Kelley Blue Book (www.kbb.com). Values don't necessarily agree in different guides. |
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sydkan
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insurance companies use a database to determine value. it is not a blue book, kelly book, black book or any other kind of book. Most companies you hear about are called ccc or autosource. They will determine the value on many aspects, zip code, year, make, model, mileage, interior, exterior, paint condition, dash condition, glass condition, tire depth and compute it to match over thousands and thousand of vehicles similar to your's that are listed for sale. |
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Give Me a HUG!
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Same as dealers. There are dealers books but they might only pick what the dealers would pay not what it is worth if you are shrewd you should have nice photos of your car and then you can do some market research on ebay, they must give you what you'd get off of ebay. |
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