3 Compelling Reasons You Need an Auto Appraisal

3 Compelling Reasons You Need an Auto Appraisal

 If you own a vehicle, you need to have an auto appraisal. That’s because an auto appraisal protects you in the event of a total loss or diminished value claim. And, if you have Agreed Value Insurance, an auto appraisal is required.

A Total Loss occurs when your vehicle is totaled in an accident or stolen and not recovered. If your vehicle is totaled, your insurance company will pay you the actual cash value of your vehicle, minus your deductible. If your insurance company or the at fault's insurance company gives you a value on your total loss that you don't feel is fair, that is when you need an appraisal. Diminished Value is the reduction in your vehicle’s value after it’s been in an accident, even if it’s been repaired. To qualify for diminished value, you do have to be the claimant (non-responsible party). You are owed Diminished Value! Agreed Value Insurance is an insurance policy that pays the agreed-upon value of your vehicle in the event of a total loss, minus your deductible. 

An auto appraisal protects you in all of these scenarios. So, if you own a vehicle, make sure you have an auto appraisal to ensure that you’re properly protected in case of a total loss or diminished value claim. It’s also important to have an appraisal if you have Agreed Value Insurance. Without an accurate appraisal, you may not receive the full value of your vehicle, leaving you with a significant financial loss. So, if you haven’t had an auto appraisal recently, it’s time to schedule one to protect your investment.

Auto Appraisal Network of Olathe is part of a national group of professional auto appraisers. Our appraisals are the most comprehensive and complete reports available in the industry.  Our appraisers are certified and have the experience and knowledge to fairly and accurately asses the value of your vehicle. 

For more information on any of the services we offer, call us today at (816) 290-6536.