Titulo seccion - Preguntas frecuentes: Seguro de Riesgos Extraordinarios

Frequent questions : Extraordinary Risk Insurance

Seguro de Riesgos Extraordinarios

What happens if the amount of the vehicle repair exceeds the current value? What happens if the vehicle is a total write-off?

What happens if the amount of the vehicle repair exceeds the current value? What happens if the vehicle is a total write-off?

Once the expert appraiser has finished his work, when the amount of the repair exceeds the fair market value (fair market value = sale value, according to the dictionary, it corresponds to the value that may be obtained for the vehicle if put on sale, therefore it is a different, lower value than the purchase value), in most policies, it is established that the fair market value will be paid with a deduction for the remains of the vehicle.