There are many people who consider their car as the second most valuable asset of theirs. There are many others who count on it as the most important asset. It becomes of vital importance to assess the right value of such important belonging of yours to protect your possession. When you employ some professional to do the valuation of your vehicle, for whatever reason, you not only buy some papers or documents for the correct worth of car. You buy a legal document from him. Therefore, it is of prime significance that the auto appraisers should be reliable, credible and reputed. They should be experienced enough to calculate the real worth of your vehicle.
Often, the appraisal companies try to prove their edge over competitors. Due to this, they make unrealistic and fake promises during initial discussions. In a quest of getting the best appraiser, car owners commit mistakes in judging the capabilities of the appraisal company which they later remorse. There are little things which can help you protect yourself from any frauds. Appraiser’s responsibility does not end with providing you a documented assessment of your vehicle. They should be ready to bear this responsibility till the time you need to validate it in market perhaps years down the road when your car meets an accident. Beneficiary has got the right to ask the company you have contacted for doing the auto appraisal that if the inspector coming to site and the person who will establish the value of your car will be same. If ‘no’ is the answer, you should not take it any further. Reason to support this is a simple logic. What happens is trainees are sent to click the images of car in question, and then these images are mailed to the office where the so called expert is sitting thousands of miles away. In the whole process it takes weeks time. How one can perform the actual unbiased expert evaluation of car this ways. Whosoever chooses auto appraisal, do it for some reason. It can be insurance, taxation, legal matter, finance etc. Imagine when you call the expert employed, to witness in court room, when asked how you concluded value of car. He might say he was not the person who actually did that. He was only supposed to click the pictures of your car. You will lose your case then and there. Beware of the frauds in market, get a certified reputed and experienced party to offer their services to you.
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Estimating the total loss value of a vehicle is challenging. For every vehicle owner, it is important to have the knowledge about how the value of their vehicle is calculated. Reason behind is that it can help in negotiating for a better payout on the claim. Moreover, it also tells why the vehicle owner might not get the needed amount to pay off the loan. Let’s discuss some very important aspects related to insurance total loss value.
Actual cash value Generally, the traditional car insurance policies cover vehicles using actual cash value. Talking about exceptions, they include:
The factors used While calculating the actual value, following aspects related to the vehicle are considered:
Why auto appraiser and not insurance agents? Insurance companies have their own way and software to calculate the cash value of vehicles. Moreover, the amount offered by them is not satisfactory. This is where auto appraisal agents score high over them. They follow their set of rules and come up with the best possible appraisal value. Besides their own strategies and experience, they also analyze the market value of similar vehicles in the current market. With the right experts, the process of claiming total loss value is easy and smooth. As many successful and reputed professional are available only, getting services from the genuine appraisers is convenient now. Waiting for what? Go get started and win the genuine amount to make your damaged vehicle look all new once again. |
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October 2016
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