Post-Accident Valuations: The True Cost of Valuing Your Vehicle After an Accident
Accidents are stressful enough without the added challenge of determining your car’s value. Many car owners realise too late that relying on a market rate insurance policy can lead to unexpected financial shortfalls. That’s why having your vehicle professionally valued before an accident occurs is so important.
At New Zealand Vehicle Valuations (NZVV), we help you take control of your car’s value with expert assessments backed by over 80 years of industry experience. Here’s why a pre-accident valuation is a smart investment and how it can protect you from financial risks.
The Challenges of Valuing a Damaged Vehicle
Once a car has been in an accident, its value becomes far harder to determine. Repair records, structural damage, and the potential for hidden issues can complicate the process. Without a pre-accident valuation, it’s often left to insurance companies to estimate your car’s worth, which may not align with its true market value.
By having a professional valuation done in advance, you create a clear, documented record of your car’s worth. This can be invaluable for resolving disputes or securing a fair insurance payout.
Agreed Value vs. Market Value Insurance
One of the biggest decisions car owners face is choosing between agreed value and market value insurance. Both have their merits, but the risks associated with market value policies can be significant, particularly after an accident.
- Market Value Policies: These cover the car’s worth at the time of a claim, which can fluctuate based on market trends, mileage, and wear. After an accident, market value is often reduced due to the perception of diminished quality.
- Agreed Value Policies: These provide a fixed, pre-determined payout in the event of a total loss. With a professional valuation from NZVV, you can negotiate an agreed value that reflects your car’s true worth, ensuring financial stability when it matters most.
Choosing agreed value insurance with an up-to-date valuation can save you from the uncertainty and financial risks of relying on fluctuating market values.
How Pre-Accident Valuations Protect You
A professional pre-accident valuation from NZVV provides:
- Peace of Mind: Know your car’s exact worth, even in the event of a total loss.
- Leverage in Disputes: Accurate documentation to challenge undervalued insurance payouts.
- Confidence in Coverage: Ensure your agreed value policy reflects your car’s true value.
Why Choose NZVV?
At NZVV, we offer professional valuations tailored to your car and the New Zealand market. With over 80 years of combined experience and a database of real-time market data, our valuations are precise, reliable, and accepted by all insurance companies.
By valuing your car before an accident, you can avoid the stress of underinsurance and ensure you’re financially protected.
Take the first step in protecting your vehicle’s value. Contact NZVV today for a professional valuation you can rely on.
