Car Value Calculations
When it comes to your car value and auto insurance in Coppell, TX and the surrounding cities, it is important to understand exactly how your car’s value is calculated. While each insurer has its own guidelines for determining the value of a car, it is important to understand your responsibility in the matter. We understand this can be a confusing subject, which is why we have gathered a list of important guiding points so that you can become an informed consumer.
Car Value & Auto Insurance Coppell TX:
- One of the most standard ways of determining a car’s value is using one of the two main reference books that list the depreciated value of both new and used cars. These books are published by Kelley Blue Book and the National Association of Automobile Dealers.
- If your car is involved in an accident, you will be referred to a claims adjuster by your insurance agent. The claims adjuster will calculate the loss and give you an estimate for how much it will cost to repair the car.
- Keep in mind that the claims adjuster’s estimate is not set in stone for how much you will be reimbursed for your loss. It is important that you do your due diligence and have your own mechanic make an estimate of the damage as well.
- Don’t worry – Your insurance company and claims adjuster are used to having a second opinion called. Therefore, you do not need to feel pressured to accept their estimate. However, you can expect them to also have their own interests in mind, as they will not want to pay for an inflated repair bill if it seems unnecessary.