I was involved in an accident and the damage is pretty severe. The insurance will most likely "total" it and give me a check for the value. I know they use their own system, but when im using kelly blue book, which value should i look at, retail value, private party value, or trade in value, to get a general idea of how much the insurance will pay
Best answer:
Answer by smooch
retail plus sales taxes minus your deductible
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The insurance company usually provides you with what they consider you will have to spend to replace your car with a comparable car. So, if your car would cost you $5000 to buy the same make/model/year used, the insurance company will give you that amount.
ReplyDeletethe first answer was correct so here is some other things to keep in mind, are you able to prove that the car was in excellent shape? like all the maintenance records? if so you can get a better return, Where you hurt? do not sing off for a few weeks to make sure you do not have any medical problems after you settle. Good Luck
ReplyDeleteInsurance companies usually keep their own database and will not pay more than the value in it.
ReplyDeleteWhen a car I was driving was totalled in an accident, the other party's insurance offered less than KBB wholesale value. I told my lawyer I'd agree to settle out of court if they'd raise it by $500 and they agreed to do it. But they had to make it appear as part of my medical settlement instead because like I said they couldn't pay more than what they had in their database.
I don't know what their database is based on, but most likely the Black Book (no relations to Blue Book).
NADA book which bank uses and will give value based on miles, whether it had comp. owhat ever a Dealer would buy car for themselves at. NADA is standard in fair condition.
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