Vehicle valuation
What insurance group is my car in?
Your car’s insurance group is determined by factors including the size of the engine, its performance, security features and cost of replacement parts. The groups range from 1 to 50 and your exact group will depend on your make and model. To find out what insurance group your car is in you can contact an…
How do you calculate gap insurance?
Gap insurance is calculated based on the difference between the value of a vehicle and the amount owed on it. The difference between the two, known as the “gap”, is generally calculated by subtracting the outstanding loan or lease balance from the actual cash value (ACV) of a vehicle at any given point in time.…
How much is the insurance cost for a salvage title?
The cost of insurance for a salvage title is highly dependent on the age and type of vehicle, as well as the driving history of the owner. Generally speaking, premiums tend to be higher for salvage title vehicles than they are for other types of cars due to their decreased value and increased risk. Some…
Can I force my insurance company to declare my car a total loss?
Yes, it is possible to force an insurance company to declare your car a total loss. The process will depend on the specific details of your policy and situation. Generally, if the cost of repairs for your car would exceed its value, then your insurer may be willing to consider it a total loss. You…
Why do insurance companies declare motorcycles as total loss with minimal damage?
Insurance companies declare motorcycles as total losses with minimal damage because they consider the cost of repairs to be excessive in comparison to the value of the vehicle. The amount of damage needed for an insurance company to declare a motorcycle as a total loss may vary depending on factors such as age, model, and…