When an insurance company cannot find similar vehicles on the market to determine the value of your vehicle, they may request a dealer quote to acquire a reliable valuation. In this situation, you should contact a reputable dealer who specializes in your vehicle’s make and model to obtain a written quote. This quote should reflect the current market value of a comparable vehicle, taking into account its condition, mileage, and any additional features it may have. Make sure to provide the dealer with detailed information about your vehicle to ensure accuracy. Once you receive the dealer quote, submit it to your insurance company for review. It’s also a good idea to keep records of all communications with both the dealer and the insurance company for future reference. If you encounter any issues or discrepancies in the valuation process, consider consulting with an independent appraiser or a legal professional who specializes in insurance claims for further guidance.
What should be done if an insurance company requests a dealer quote due to the lack of comparable vehicles?
