Hey everyone!
hoping to get input from anyone in insurance, appraisals, or auto sales.
My 2021 Premium AWD was recently deemed a total loss, and my insurance came back with a market value that is I believe is a little low.
I’m having a hard time understanding how they got there, and I want to challenge it.
Here are my Concerns with their valuation:
•All of the comps they used were sold listings from ~1+ months ago
•One of the comps is actually my exact vehicle listing before I purchased it
•My mileage is 24,558, and their comps are similar or higher (lowest is ~23k)
From what I’m seeing, current listings for similar Mach-Es seem higher, especially depending on trim/options
Questions for the pros:
1)Is it standard for insurance to rely on older sold comps instead of current listings, especially in a shifting EV market?
2)How much weight do active listings actually carry when disputing a valuation?
3)Does using my own prior listing as a comp raise any red flags?
4)What’s the most effective way to push back and get a legitimate re-evaluation?
5)At what point does it make sense to invoke the appraisal clause or hire an independent appraiser?