2006-08-21 02:54:37 · 15 answers · asked by cycleman1955 2 in Cars & Transportation ➔ Insurance & Registration
depends on the company. They can use services like CCC, NADA, etc... They will not use Kelly Blue book--- it is too high.
2006-08-21 03:30:18 · answer #1 · answered by deadcars42 3 · 0⤊ 0⤋
The value of anything in a free market society is only what the buying public will pay for it. Guides like Kelley and NADA are just that, guides. Condition of vehicle, mileage and sometimes accesories all are factored in. If the ins company seems to be low-balling a settelment amount then for gosh sake don't start screaming at them. You need to ASSIST a claims adjuster vs combat them. Do research -- complie and verify as many vehicles as nearly like yours for sale in your area and present them to the adjuster. Trust me -- there is NO advantage to the company to not pay enough on an insurance claim and there is no company in the US, (no matter how bad they are) that will not pay for anything that can be proven. If all else fails, start requesting (respectfully) for managers until you reach one that is able to assist or explain to your satisfaction what they are going to pay you. If you enter a combative situation with them your file will be shoved under a VERY large pile covered with cobwebs.
2006-08-21 18:54:25 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Most use an independent appraisal company to determine a base value (before the wreck). Then 80% of that is usually considered a total.
2006-08-23 12:03:39 · answer #3 · answered by rancherogirl351 2 · 0⤊ 0⤋
It depends upon the state where you live. Mostly it is N.A.D.A. and it takes into account the actual cash value of a vehicle that sits on a reputable lot. If that does not work then you can do a market search on such sites like autotrader.com or cars.com to get a better idea what the value of the vehicle is in your area.
2006-08-21 14:55:22 · answer #4 · answered by ANDREW L 3 · 0⤊ 0⤋
It is not Kelly Blue Book. They have a database with figures on Actual Cash Value, which equates basically to the cost of the same vehicle in the market. The condition of your vehicle is considered in the evaluation.
2006-08-21 21:32:16 · answer #5 · answered by Chris 5 · 0⤊ 0⤋
The value of the vehicle, adjusted for condition, at the time of the accident. If it would cost more to repair it than that worth (typically Kelly Blue Book value) they will total it and offer you that value. If you feel yours was worth more, new tires perhaps, or was just painted, or upgraded stereo system, negotiate.
2006-08-21 10:16:20 · answer #6 · answered by oklatom 7 · 0⤊ 0⤋
I believe they go by the bluebook value of the car (or something along those lines) - including mileage, year, etc. The last car I totalled (I have totalled 3) they wanted to give me less money because they noticed prior damage that I did not have fixed.
2006-08-21 10:01:36 · answer #7 · answered by Sunidaze 7 · 0⤊ 0⤋
The Kelly Blue Book value or something close to it.
2006-08-21 10:00:33 · answer #8 · answered by Mark V 4 · 0⤊ 0⤋
the value given when the car was registered with them alongside the total age/mileage of the car.
2006-08-21 10:00:02 · answer #9 · answered by Anonymous · 0⤊ 0⤋
an average of the blue book value (look it up at www.kbb.com, use the private party sale) and the area newspapers, for a like kind & quality car with like milage.
2006-08-21 22:57:59 · answer #10 · answered by Anonymous 7 · 0⤊ 0⤋