Are Insurance Companies Being Fair in Settling Property Damage Claims for Total Loss Vehicles

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An article published at Insure.com by Joe Fray has raised serious questions regarding the insurance industries' practices in valuing cars that are total losses under automobile collision coverage. Instead of using widely and publicly available data such as the Kelly Blue Book and the National Automobile Dealers Association (NADA) Guide, insurance companies have largely gone to private subscription services whose information is not available to the public. One of them, CCC Information Services which is based in Chicago, has solicited the insurance industry to utilize its database promising to save them millions of dollars because its values are lower. Further information can be obtained at http://info.insure.com/auto/collision/totalloss.html.