How is Value Determined
Transcript
A car accident can throw your life into chaos, aside from any injuries you suffer, you will probably need to deal with repairing the damage to your vehicle, if your vehicle is declared a total loss, the insurance company will be will looking to determine the fair market value of your vehicle before cutting you any kind of check.
So how does that work?
Generally, the Kelly Blue Book or the NABA will be the go to source for establishing what the car is worth.
And the two determining factors are almost always mileage and the condition of your vehicle.
But Charlie Draper, of Draper Law Office says there is a third way to influence the insurance company’s final decision about the fair market value.
if in the last year or so you have made a major improvement not a repair, not a maintenance item like changing oil changing the spark plugs if you made a major improvement like a rebuild engine even tires or a new stereo system for the car those that can increase value.
if you’ve been involved in a serious accident that’s left your struggling to recover and fighting the insurance company, don’t go it alone.
call Charlie Draper at Draper Law Office or visit draperlaw.com. in times of need, you can trust Draper Law Office.
