How do I know if the insurance company is giving me fair value for my vehicle after my Clear Lake car wreck ?

A:

Always demand that the insurance adjustor provide you with proof of the valuation method he is using to determine your vehicle's value.  You ARE entitled to it.  In addition, go to one of the many vehicle valuation websites to make sure the insurance company's value is in line with what the experts say your vehicle is worth.  There are several, but the ones we use are www.nada.com, www.edmunds.com, and www.kbb.com.  They all use slightly different methods, but they will give you a range of what your vehicle is worth. 

Remember, the insurance company is only liable for paying you the fair market value of your vehicle the moment before the impact, taking into account your vehicle's prior condition and mileage.  So, if your vehicle had prior damage, the insurance company will deduct for it.  So, whenyou are inputting information into the websites above, be honest about your vehicle's condition to get the most accurate value. 

Lastly, the insurance company is not liable for the financing deal you made when you bought the vehicle or the high interest rate you may have been paying.  Thus, the insurance company may not pay off your vehicle if you are upside down on the value.