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How does an insurance company determine the value of a car?

asked by cary (95)

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Tags:  cars  insurance  value

answers

They look at how much you could have gotten selling the car in the exact same condition in which it was just prior to the accident. Usually, this means going to a reference like Kelly Blue Book, but they can also look at more local indicators.

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posted by John (7911)
6 votes

An insurance company will determine the value of a car depending on the year of the car, the make and model, and how many miles are on the car. As well as if the car has been in a previous accident.

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posted by dariand (21)
5 votes

Insurance companies use a program similar to the Edmund's Blue Book that takes into account mileage, age, options, condition, etc.

5 votes

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