Actual Cash Value v. Replacement Cost There are several different methods by which your insurance company may calculate the amount it will pay you for a loss. Payment based on the replacement cost of damaged or stolen property is usually the most favorable figure from your point of view, because
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Would you rather collect 80% of an accurate appraisal or 20% of an inflated one?
Many clients believe that if another appraiser gives them a higher initial estimate, the settlement amount will be equally high. WRONG!
Insurance companies know who the legitimate appraisers are, so don't get caught up in the estimate game. Hire an appraiser based on their credentials and reputation.
Seven things to look for when choosing an appraisal company
Wondering how much your vehicle lost in Value? Click the button to know more.
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