With Auto Insurance, Rhode Island Motorists Can Get the Best Coverage!

October 26, 2011

Spend a lot of time driving on the Mount Hope Bridge? Accidents happen here, too!

How do insurance companies determine the value of your claim when your car is in an accident? There are several factors involved in determining the value of your car in order to settle a claim when a car is involved in an accident or stolen. When it comes to auto insurance, Rhode Island residents will be getting the protection they need. Here some of the factors that go into it:

Assessing the damage

When a vehicle is involved in an accident your insurer needs to assess the damage and likely cost of repair, and compare that against the value of your vehicle, or the amount it is insured for. They generally do so by having an adjustor examine the vehicle damage. The adjustor will take note of any damage to the vehicle that appears to have been present prior to the accident, and the general condition of the vehicle. Pre-existing damage can reduce the value of your vehicle and your claim.

The pre-accident value of your vehicle

The value of a vehicle often has a lot to do with its condition. For example, when shopping for a car you would pay more for a well maintained 2005 vehicle in perfect condition than you would for the same vehicle with dents and scratches.  For your insurer, the same is true when determining what they will pay out in an accident.  The pre-accident value is often determined by establishing the current market value of the make and model, and adjusting the value according to the pre-accident condition of the vehicle.

It is essential to keep your car in good condition.  It could make a difference to the amount of the pay out by your auto insurance company if your car is ever involved in an accident or theft. When it comes to auto insurance, Rhode Island motorists can rely on John Andrade Insurance Agency for the best coverage available in the state. Contact us today!