Mass Auto Insur Quest: Totaled Car & "Market Figure" De-Valuation ?

Hello:

For anyone familiar with Mass auto insurance, etc.

Car was totaled, and insurance company is presently working
on a valuation of it to reimburse me.

They say they use the NADA value, but take off from this
someting they term a "market figure".

Might someone please explain to me what this is; I have
never run across it.

Thanks,
Bob

Robert11 wrote:
> Hello:
>
> For anyone familiar with Mass auto insurance, etc.
I'm not familiar with the term. Are you asking about policies issued
in mass, policies issued in the state of MA (Mass.), mass marketing of
insurance policies?

>
> Car was totaled, and insurance company is presently working
> on a valuation of it to reimburse me.
>
> They say they use the NADA value, but take off from this
> someting they term a "market figure".

They probably used a value they created on the NADA site then
discounted it some more to give them some room for bargaining with you.
The NADA and Edmunds.com websites will both give you a price, so you
should use their sites to develop a value based on milage and condition
before the wreck and review the classified ads in a local paper for
cars like yours. Average the highest two and make that your
counteroffer. Be sure to present it in writing.

>
> Might someone please explain to me what this is; I have
> never run across it.
>
> Thanks,
> Bob