Car Value After an Accident

A car after a major car accident sitting in a parking lot losing car value

Accidents happen, it’s a part of life. Your insurance is there for you in case of a collision. However, dealing with them is not always easy. It can be stressful and exasperating, therefore it’s important to know the value of your car after the accident. Here are a couple of key points about your car value after a collision.

The value of a car depreciates after an accident. The decrease in value is dependent upon a few different variables including but not limited to; accident history, type of car, and severity of the accident. The way insurance companies determine the value is through an algorithm called the 17c formula. The formula was invented to standardized the way of calculating claims after a wreck.

Understanding your insurance is critical. Before looking into signing a contract or agreement, it is important to look and see how much coverage you have when a collision occurs.

Handling insurance claims and policies can be difficult but getting your car repaired doesn’t have to be. Our top priority is to give you the ease of mind that your car will be taken care of whether you have minor dents and dings, or full-on collision damage. Our experienced technicians will carefully repair or replace all damaged parts, bringing your vehicle back to manufacturers’ specifications.

Here at Ric’s Body and Paint, we want to make sure your repairs are hassle-free because we know how stressful a collision can be. We want you to know you are taken care of and that we provide the highest quality of repairs.

Contact us today to learn more about how we can make your collision repairs go as smooth as possible.

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