How Do Auto Insurance Companies Value Cars?

Auto insurance companies value cars by looking at their actual cash value and considering the vehicle's fair market value. Once you drive your new car off the lot, it depreciates in value, which contributes to its actual cash value when it's involved in an accident. When car insurance companies value cars, it can vary widely from company to company. Read this guide and look at your insurance policy to determine how your auto insurance company values your car.

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UPDATED: Jun 6, 2022

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