Hello:
For anyone familiar with Mass auto insurance, etc.
Car was totaled, and insurance company is presently working on a valuation of it to reimburse me.
They say they use the NADA value, but take off from this someting they term a "market figure".
Might someone please explain to me what this is; I have never run across it.
Thanks, Bob
I'm not familiar with the term. Are you asking about policies issued in mass, policies issued in the state of MA (Mass.), mass marketing of insurance policies?
They probably used a value they created on the NADA site then discounted it some more to give them some room for bargaining with you. The NADA and Edmunds.com websites will both give you a price, so you should use their sites to develop a value based on milage and condition before the wreck and review the classified ads in a local paper for cars like yours. Average the highest two and make that your counteroffer. Be sure to present it in writing.
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