Reader’s Question:

How do I compute what my car is worth in Mobile, Alabama? I want to know in order to determine how much collision & comprehensive coverage I should get.

Peter

Mobile, AL

Determining your car’s worth is somewhat like an insurance company calculating a vehicle’s actual cash value (ACV) after a total loss. To know the value of your vehicle you need to determine what amount you could get if you were to trade in or sell your vehicle at this point in time.

I suggest you can use valuation tools such as NADA, Edmunds or Kelley Blue Book. These guides and tools will give you trade in values, retail values and private party values typically. To get the most accurate idea of what your car is worth put in what options your car has, such as the mileage and basic condition. Aside from these valuation guides and tools you can look at how much a vehicle in your condition and mileage is selling for in the local car market in Mobile, AL. Internet sites such as Autotrader might help you in this kind of issue. Once you have determined the value of your car you have the personal decision if you want to carry comprehensive and collision coverage on your car.

Tags: car insurance