With used auto prices on the rise how is this impacting auto claim settlements?

You will find an interesting article in the WSJ about the shrinking bargains to be found on used cars in this article

This raises an interesting question about what impact this is having on auto claim settlements. Are auto insurance companies still using NADA book prices and or Kelly Blue book pricing to determine ACV? Do those auto valuation tools keep up on a month to month basis to keep up with the market or are they updated only annually?

We’d love to see your comments on this in reply to this blog post, One comment received already says this article is “right on” with the exception it didn’t mention last years Cash for Clunkers program and what additional impact that has had on used car prices.

Update 5/10/11- Here’s an article just put out by Kelley Blue Book giving actual examples of changes in book values due to the rising cost of used vehicles

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One Response to With used auto prices on the rise how is this impacting auto claim settlements?

  1. ClaimSmentor says:

    I updated the above blog with a link to a 5/9/2011 article by Kelley Blue Book about the rising cost and value of used vehicles

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