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A question about how to determine the value of a car that has been totaled?

Brian’s Wife asked:


I had a 2000 VW Golf in not great shape-it was totaled -how does the insurance company determine the value? Kelly blue book says it’s worth $7,700 I owe 2,000 on it-will I get blue book value?

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This entry was posted on Tuesday, November 24th, 2009 at 9:54 pm and is filed under Buying Selling. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “A question about how to determine the value of a car that has been totaled?”

  1. Contractor Insurance Corpus Christi TX says:
    November 27, 2009 at 12:43 am

    the insurance company will give you the kelley blue book value for the car and you will have to use the money they give you to pay it off.

  2. Roll Off Pittsburgh says:
    November 28, 2009 at 9:29 am

    Your insurance company will low-ball you for sure. Do not be afraid to hold out for more money than they first offer to total it.
    When you say the book says $7,700, is that for not great shape? What is fair condition blue book?

  3. Contractor Insurance Allentown PA says:
    November 28, 2009 at 11:54 am

    Depends on the insurance company. AAA will look through the local newspaper and get an average price for what your car is selling for based on the year and mileage. If you do not like the $ that the insurance company comes up with, you can hire an independent appraiser to conduct his/her own research and come up with a price which is then presented to the insurance company. AAA is usually very fair and on the opposite side of the spectrum is Mercury insurance and 21st Century insurance.

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