Vehicle appraisal for car insurance

Insurance in Spain Car Insurance

November 21, 2024

If you have never had your car valued before, you may not know where to start. The appraisal of a vehicle is an unavoidable step when it comes to selling or insuring it. Through this process we can find out its current market value, and with that information, we can sell it or insure it with an appropriate policy, according to its characteristics.

In this article we are going to talk about everything related to vehicle appraisal for car insurance, and we are going to give you some tips so that the appraisal can be satisfactory for you. At first glance it may seem like a titanic task since several factors are involved in the valuation of a car, so we will take into account the most important points and we will tell you about it as clearly as possible.

What information does the insurer need to value my car?

If you need to take out insurance for your car, you will be interested to know what the insurance company will pay more attention to in order to determine the value of the premium. But before you continue, I recommend that you take a look at this article if you are not very familiar with all the vocabulary related to the world of insurance.

As I mentioned, in order to arrive at the cost of the premium, the first thing the insurance company needs to know is the basic details of the vehicle, which usually is the information they ask for when making a quote. The brand and model of the car, the age, and last but not least, the mileage of the car. It is not the same to have a car that is only a few years old and has been driven non-stop, or having a car that is older but has spent more time in the garage. All these details are taken into account by the appraisal.

From there, a more in-depth valuation can be made by looking at the current state of the car, i.e., whether or not it has had accidents, external or internal modifications, what purpose it is normally used for, etc. But if you want to try the Caser AutoHelp rate calculator (Caser Expat Insurance car insurance), you will be able to see in less than a minute the data they ask you about the car and the driver to calculate the premium. Try it out by clicking on this link.

Who can appraise my car?

There are several options when it comes to having a vehicle appraised. Some people decide to do it themselves when they want to sell their second-hand car. They can use the official list of the Ministry of Economy and Finance, which is published in the BOE (Boletín Oficial del Estado). In this document they will only find the reference prices for second-hand cars, one year after their registration. But beyond these reference values, you will have to take into account other details such as the ones previously mentioned that finally determine the price of each particular car.

This is why it is advisable to call in a professional expert to ensure that the valuation is completely reliable. The appraisers, in addition to having specific training, travel to see the car in person to assess its real condition.

But if you do not want to contact a professional appraiser, or you do not have time to make an appointment, there is a third way: online vehicle appraisal. This will be an indicative appraisal generated through a website, based on some key data about the car. This method, although it is not the most accurate appraisal, is the most convenient option if you just want to get a rough idea and get the value of the car for free.

What can the car owner do to get ready for Vehicle appraisal for car insurance?

As we mentioned at the beginning of this article, there are a few things you can pay attention to as the owner of the vehicle in order to get it ready for a good appraisal.

Firstly, it will be important to know the vehicle's accident history. Has it had accidents? How many have there been? And above all, how serious have they been? When we have accidents, we usually make modifications to the car, replace certain parts, change the tyres, or even make mere cosmetic changes. Knowing whether the spare parts are original or not, whether the seats or steering wheel comply with the regulations, etc. are details that could help to increase the value of the vehicle.

On the other hand, we cannot forget the heart of the car: its engine. We will have to make a technical review of the vehicle to know the real state of the engine, the brakes, the battery, and all the basic mechanisms that allow the car to be kept running, in a safe way for the driver and its occupants. If we make sure we fix these kinds of problems (at least as much as we can) we will come to the appraisal in a better position.

And, of course, don't forget to check the exterior appearance of the car. If there are problems with the bodywork and paintwork (such as scratches, dents, rust, etc.) it will detract from the value of the car. Not only because it is less eye-catching, but also because it can be a sign of poor maintenance by the owner.

Finally, an extra tip: don't forget to clean your car inside and outside. As the saying goes, it's the first impression that counts.

signing vehicle appraisal for car insurance

Why is a good insurance appraisal important?

Perhaps at this point you are still wondering why a vehicle appraisal for car insurance is so important. Well, the answer is very simple: the more realistic the appraisal is, the more protected you will be in the event of an accident or total loss. It will be important that the insurer takes into account the real value of your vehicle in order to be able to give you a fair compensation. As always, getting things right from the start will save you headaches in the future.

I hope this article has helped you to better understand how the valuation of your car works when taking out insurance. If you have any questions about it, please be assured that you can contact us and we will try to help you to solve them.