Filing an insurance claim after an accident can be a logistical nightmare, especially if you’re unfamiliar with the car appraisal process that occurs beforehand. Understanding how car appraisals work makes negotiating with an insurance adjuster easier and helps you reach a fair settlement, so Collision 24 broke down the process below to take some stress out of filing a car accident claim.
If you’ve been in an accident in Brockton, Stoughton or Randolph, here’s what you need to know about the car appraisal process.
What’s the Point of a Car Appraisal?
Appraisals help insurance companies determine a vehicle’s fair value and the cost of its repairs after a car accident. Sometimes, repairs cost more than what the car is worth, and the payment insurance companies provide is based on the appraisal’s value.
Understanding the Car Appraisal Process Step-By-Step
After a collision, here’s what happens during a typical car appraisal:
1. Contact Your Insurance Company
First, report the accident to your insurance company. Usually, a claims adjuster will come directly to the scene to appraise your car.
2. Interview with an Appraisal Expert
An appraisal expert will interview you to figure out the accident’s circumstances before evaluating the car’s damage.
3. Determining a Car’s Value
An appraiser looks at the car’s overall condition and the extent of its damage, and then follows specific criteria to determine the overall cost of coverage. This number is extremely important because it controls the amount coverage you receive under your policy.
Some Things to Keep in Mind
In certain cases, damage is so severe that a car is totaled or its repairs cost more than its value. As a result, your insurance agent may deem your car a total loss. Repairing a totaled car is expensive and time consuming, so accepting their payment may be your only option.
In any case, your insurance company is legally obligated to providing a fair price. If you feel their offer is low, you can try to increase their payment by showing proof of maintenance or mechanical improvements with receipts.
Depending on your insurance company, you might be able to hire a third-party appraiser to look at your car. This is an option to pursue if you think you’ll get a higher value from them.
Get a Car Appraisal at Collision 24
Getting an accurate appraisal after a car accident is essential for your insurance claim. At Collision 24, our team of licensed appraisers will determine a fair value for your vehicle in the wake of a crash. We work with all major types of insurance, and are here for all of your post-accident needs in Stoughton, Brockton and Randolph.
To speak with a licensed appraiser at Collision 24, schedule an appointment with us online, or call (508) 586-2010. We know that filing an insurance claim cam be stressful.